Hatsun Agro Product Ltd
Hatsun Agro Product Limited has been in business for over 5 decades and achieved the position of the largest private-sector industry in the Dairy sector manufacturing and marketing Milk and Milk products, Ice-Cream, etc. [1] It was incorporated by Mr. R G Chandramogan, who has been in the dairy business for more than 30 years. [2] Its journey began with Arun Icecreams. [3]
- Market Cap ₹ 22,531 Cr.
- Current Price ₹ 1,012
- High / Low ₹ 1,233 / 802
- Stock P/E 93.8
- Book Value ₹ 65.8
- Dividend Yield 0.59 %
- ROCE 11.0 %
- ROE 12.6 %
- Face Value ₹ 1.00
Pros
- Company has been maintaining a healthy dividend payout of 70.0%
- Company's working capital requirements have reduced from 17.4 days to 13.9 days
Cons
- Stock is trading at 15.4 times its book value
- The company has delivered a poor sales growth of 11.1% over past five years.
- Company might be capitalizing the interest cost
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: FMCG Industry: Food - Processing - Indian
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,604 | 2,165 | 2,494 | 2,933 | 3,445 | 4,198 | 4,287 | 4,760 | 5,308 | 5,551 | 6,370 | 7,247 | 7,733 | |
1,494 | 2,017 | 2,316 | 2,735 | 3,140 | 3,820 | 3,916 | 4,312 | 4,758 | 4,749 | 5,649 | 6,546 | 6,907 | |
Operating Profit | 109 | 148 | 178 | 198 | 305 | 378 | 372 | 448 | 550 | 802 | 721 | 701 | 826 |
OPM % | 7% | 7% | 7% | 7% | 9% | 9% | 9% | 9% | 10% | 14% | 11% | 10% | 11% |
3 | 4 | 9 | 6 | 5 | 7 | 8 | -1 | 9 | -22 | -21 | 11 | 22 | |
Interest | 38 | 44 | 41 | 63 | 68 | 70 | 88 | 86 | 106 | 108 | 107 | 126 | 134 |
Depreciation | 42 | 50 | 65 | 94 | 107 | 143 | 174 | 201 | 296 | 295 | 311 | 362 | 394 |
Profit before tax | 32 | 57 | 81 | 47 | 134 | 172 | 119 | 161 | 156 | 377 | 283 | 225 | 320 |
Tax % | 17% | 21% | -0% | 17% | 55% | 21% | 23% | 29% | 28% | 35% | 23% | 26% | |
27 | 45 | 82 | 39 | 60 | 135 | 91 | 115 | 112 | 246 | 218 | 166 | 240 | |
EPS in Rs | 1.20 | 2.02 | 3.70 | 1.76 | 2.72 | 6.08 | 4.08 | 5.15 | 5.04 | 11.06 | 9.78 | 7.45 | 10.78 |
Dividend Payout % | 53% | 41% | 33% | 50% | 72% | 45% | 67% | 56% | 58% | 70% | 59% | 81% |
Compounded Sales Growth | |
---|---|
10 Years: | 13% |
5 Years: | 11% |
3 Years: | 11% |
TTM: | 9% |
Compounded Profit Growth | |
---|---|
10 Years: | 14% |
5 Years: | 12% |
3 Years: | 13% |
TTM: | 32% |
Stock Price CAGR | |
---|---|
10 Years: | 22% |
5 Years: | 14% |
3 Years: | 13% |
1 Year: | 26% |
Return on Equity | |
---|---|
10 Years: | 21% |
5 Years: | 18% |
3 Years: | 19% |
Last Year: | 13% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 11 | 11 | 11 | 11 | 11 | 15 | 15 | 16 | 16 | 22 | 22 | 22 | 22 |
Reserves | 97 | 119 | 169 | 211 | 220 | 333 | 350 | 789 | 888 | 1,000 | 1,087 | 1,418 | 1,443 |
341 | 402 | 494 | 614 | 672 | 919 | 1,299 | 1,028 | 1,434 | 1,622 | 1,939 | 1,793 | 1,973 | |
120 | 155 | 171 | 220 | 255 | 320 | 367 | 413 | 376 | 474 | 494 | 517 | 472 | |
Total Liabilities | 568 | 687 | 844 | 1,056 | 1,157 | 1,588 | 2,032 | 2,246 | 2,714 | 3,117 | 3,542 | 3,751 | 3,911 |
361 | 392 | 504 | 632 | 647 | 991 | 1,217 | 1,408 | 1,756 | 1,929 | 2,410 | 2,615 | 2,609 | |
CWIP | 8 | 45 | 106 | 23 | 33 | 90 | 259 | 233 | 355 | 384 | 237 | 254 | 196 |
Investments | 0 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 8 | 14 | 21 | 23 |
199 | 250 | 233 | 399 | 477 | 506 | 556 | 605 | 604 | 795 | 881 | 861 | 1,083 | |
Total Assets | 568 | 687 | 844 | 1,056 | 1,157 | 1,588 | 2,032 | 2,246 | 2,714 | 3,117 | 3,542 | 3,751 | 3,911 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
52 | 143 | 201 | 62 | 219 | 433 | 277 | 375 | 552 | 518 | 576 | 741 | |
-47 | -143 | -212 | -124 | -134 | -569 | -523 | -343 | -537 | -418 | -565 | -441 | |
-4 | 1 | 13 | 76 | -79 | 162 | 223 | -31 | -7 | -106 | -8 | -300 | |
Net Cash Flow | 0 | 0 | 1 | 13 | 6 | 26 | -23 | 1 | 8 | -7 | 3 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 2 | 7 | 3 | 2 | 2 | 4 | 1 | 1 | 1 | 1 | 0 | 0 |
Inventory Days | 43 | 25 | 17 | 43 | 51 | 36 | 45 | 44 | 36 | 55 | 50 | 41 |
Days Payable | 18 | 19 | 18 | 18 | 20 | 20 | 20 | 19 | 14 | 13 | 12 | 13 |
Cash Conversion Cycle | 26 | 13 | 3 | 27 | 32 | 19 | 26 | 25 | 24 | 42 | 39 | 28 |
Working Capital Days | 4 | -1 | -11 | -0 | 6 | -14 | -15 | -12 | 10 | 19 | 20 | 14 |
ROCE % | 17% | 20% | 19% | 14% | 23% | 22% | 14% | 15% | 13% | 21% | 15% | 11% |
Documents
Announcements
- Closure of Trading Window 1d
- Board Meeting Intimation for Considering The Appointment Of Independent Woman Director In The Capacity Of Additional Director Subject To The Approval Of Shareholders 19 Mar
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Announcement under Regulation 30 (LODR)-Newspaper Publication
14 Mar - Notice to Shareholders with regard to transfer of Equity Shares of the Company to Investor Education and Protection Fund (IEPF) - Newspaper Publication
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 6 Mar
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 6 Mar
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2009
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Concalls
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Jul 2023TranscriptPPT
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May 2023TranscriptPPT
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Apr 2023TranscriptPPT
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Jul 2022TranscriptPPT
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May 2022TranscriptPPT
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Feb 2018TranscriptNotesPPT
Products and Brands
Hatsun Agro manufactures and markets:
Milk and Curd : Under the brand names “Arokya” and “Hatsun”. It has a HAP Daily store distribution network of 2500 outlets.
Ice Creams : Under the brand names “Arun"(dominant position across South India) and new premium segment "IBACO". IBACO has a distribution network of 151 Stores.
Cattle Feed : Under the brand name “Santosa”
Ready To Eat : Under the new brand name “Oyalo” (100% vegetarian pizzas)
It also has a store distribution network of 949 outlets of HAP Daily (Icecream retail and distribution) and Oyalo together. [1] [2]