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 ₹ 20,166 Cr.
- Current Price ₹ 904
- High / Low ₹ 1,200 / 817
- Stock P/E 72.2
- Book Value ₹ 77.1
- Dividend Yield 0.66 %
- ROCE 12.9 %
- ROE 16.7 %
- Face Value ₹ 1.00
Pros
Cons
- Stock is trading at 11.7 times its book value
- 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2009 | Mar 2010 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 1,013 | 1,141 | 7,990 | 8,700 | |
| 953 | 1,078 | 7,091 | 7,690 | |
| Operating Profit | 60 | 63 | 899 | 1,010 |
| OPM % | 6% | 5% | 11% | 12% |
| 2 | 4 | 23 | 20 | |
| Interest | 21 | 28 | 154 | 182 |
| Depreciation | 22 | 27 | 409 | 470 |
| Profit before tax | 20 | 12 | 358 | 377 |
| Tax % | 40% | 76% | 25% | 26% |
| 12 | 3 | 267 | 279 | |
| EPS in Rs | 12.00 | 12.52 | ||
| Dividend Payout % | 17% | 37% | 50% | 48% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 9% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 7% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 9% |
| 3 Years: | -1% |
| 1 Year: | -17% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 17% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2009 | Mar 2010 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Equity Capital | 7 | 7 | 22 | 22 |
| Reserves | 45 | 47 | 1,550 | 1,695 |
| 235 | 314 | 2,698 | 2,570 | |
| 73 | 98 | 464 | 577 | |
| Total Liabilities | 359 | 466 | 4,735 | 4,865 |
| 166 | 322 | 2,767 | 3,274 | |
| CWIP | 128 | 33 | 238 | 284 |
| Investments | 0 | 0 | 30 | 37 |
| 65 | 111 | 1,699 | 1,270 | |
| Total Assets | 359 | 466 | 4,735 | 4,865 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2009 | Mar 2010 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 56 | 42 | -71 | 1,450 | |
| -140 | -85 | -388 | -879 | |
| 79 | 51 | 474 | -564 | |
| Net Cash Flow | -6 | 8 | 14 | 7 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2009 | Mar 2010 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 3 | 4 | 0 | 0 |
| Inventory Days | 14 | 24 | 94 | 60 |
| Days Payable | 18 | 20 | 12 | 15 |
| Cash Conversion Cycle | -1 | 8 | 83 | 45 |
| Working Capital Days | -1 | 6 | -14 | -31 |
| ROCE % | 12% | 13% |
Documents
Announcements
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ESG Rating Assigned By CFC Finlease Private Limited
15 Oct - CFC Finlease independently assigned Hatsun an ESG rating of 60 on Oct 15, 2025, based on public information.
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Board Meeting Intimation for Considering And Approving The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended 30Th September, 2025
15 Oct - Board meeting 27-Oct-2025 to approve unaudited standalone and consolidated Q2/half-year results.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
11 Oct - Newspaper advertisement on 100 days campaign for KYC updation and Special window for re-lodgment of transfer request of physical shares
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
11 Oct - RTA confirms securities dematerialisation processing for quarter ended 30 Sep 2025; certificates cancelled and depositories updated.
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CRISIL ESG Ratings
7 Oct - CRISIL assigned 'Crisil ESG 53' to Hatsun for Fiscal 2025, independently reviewed from public information.
Annual reports
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Financial Year 2025
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Financial Year 2024
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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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Concalls
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Sep 2025TranscriptPPT
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Aug 2025TranscriptPPT
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Apr 2024TranscriptPPTREC
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Apr 2024TranscriptPPTREC
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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
Product & Brand Portfolio
1) Arun Icecreams: It is South India’s leading ice cream brand, offering ice-cream bars, cups, shakes, tubs, cones, ice-cream sandwiches, etc. [1]