Hatsun Agro advances after good Q2 result

Hatsun Agro Product rose 1.96% to Rs 719.05 at 09:42 IST on BSE after net profit rose 17.35% to Rs 38.21 crore on 6.77% rise in total income to Rs 1069.65 crore in Q2 September 2017 over Q2 September 2016.

The announcement was made after market hours yesterday, 16 October 2017.

Meanwhile, the S&P BSE Sensex was down 48.03 points or 0.15% at 32,585.61.

On the BSE, 2,735 shares were traded on the counter so far as against the average daily volumes of 8,243 shares in the past one quarter. The stock had hit a high of Rs 730.90 and a low of Rs 712.25 so far during the day. The stock had hit a record high of Rs 825 on 4 October 2017. The stock had hit a 52-week low of Rs 319.95 on 9 November 2016.

The large-cap company has equity capital of Rs 15.22 crore. Face value per share is Re 1.

Hatsun Agro Product said that the company has commenced operations at its cattle feed production facility with the introduction of a new production line. The company has been witnessing a growing demand for its cattle feed brand Santosa and invested Rs 60 crore towards expanding the existing manufacturing facility near Palani in Tamil Nadu. The expansion of the facility would cater to the growing requirement of the farming community in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and Maharashtra.

Hatsun Agro Product Chairman and Managing Director R G Chandramogan said that cattle feed is a key component of support service to farmers. The company's cattle feed has the best of ingredients and essential nutrients that improves the cattle's health and milk yield, R G Chandramogan said.

Hatsun Agro Product manufactures and markets products that cater to both cooking and consumption, like milk, curd, ice creams, dairy whitener, skimmed milk powder, ghee, paneer and lots more. The company's brands include Arun Icecreams, Arokya Milk, Hatsun Curd, Hatsun Paneer, Hatsun Ghee, Hatsun Dairy Whitener and Ibaco.

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