Hatsun Agro Product sizzles after robust Q4 numbers

Hatsun Agro Product rallied 10.71% to Rs 1,133.30 after the company reported net profit stood at Rs 52.15 crore in Q4 FY24, steeply higher than Rs 24.98 crore in Q4 FY23.

Revenue from operations jumped 14.38% to Rs 2046.87 crore during the quarter as compared with Rs 1,789.46 crore posted in corresponding quarter last year.

In Q4 FY24, Profit before tax was Rs 70.89 crore as against Rs 32.88 crore in Q4 FY23 registered a growth of 115.59%.

EBITDA stood at Rs 231.77 crore in Q4 FY24, reporting the growth of 46.64% as compared with 158.05 crore in Q4 FY23.

On FY24 basis, the companys consolidated net profit jumped 61.16% to Rs 267.28 crore on 10.26% increase in revenue from operations to Rs 7,990.40 crore in FY24 over FY23.

RG Chandramogan, chairman, Hatsun Agro Product said; We are happy to report good growth in procurement of milk and revenues both in Q4 and for the full FY 2023-24. Strong sales recovery in the domestic market post Covid with good summer sales led to good sales volume.

All our business verticals did well with our leading brands registering healthy sales growth. HAPs retail expansion in the last two years helped us reach customers in new markets like Maharashtra, Orissa, West Bengal and Madhya Pradesh and also supported existing strong bases in South India.

The company in the last financial year, had invested about Rs 550 crore across new manufacturing facilities for capacity expansion in Curd and Milk Products and in market assets. The new capacities will further support our sales plans for FY 2024-25. Considerable investments have also been made to strengthen distribution, sales and marketing of our brands.

Hatsun Agro Product manufactures and markets dairy products like milk, curd, ice creams, dairy whitener, skimmed milk powder, ghee, paneer, etc.

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