Hatsun Agro stock skyrockets 16% post solid Q1, hits 52-week high

Shares of Hatsun Agro Products zoomed up to 16.26 per cent, hitting its 52-week high at Rs 1,380 per share on the BSE in Tuesday's early morning deals. 

The share price gained after the dairy company on Monday reported a strong performance for the first quarter ending June 30, 2024, with a 62.9 per cent year-on-year (Y-o-Y) increase in net profit, amounting to Rs 130.5 crore compared to Rs 80.1 crore in the corresponding period last year. 

The company's revenue from operations also grew by 10.4 per cent, reaching Rs 2,375 crore as compared to Rs 2,150.6 crore in the corresponding period of the previous fiscal.

At the operating level, earnings before interest, tax, depreciation, and amortisation (Ebitda) surged by 39 per cent to Rs 330.3 crore from Rs 237.7 crore in the previous year's first quarter. This improvement led to an EBITDA margin of 13.9 per cent for the reporting quarter, up from 11.1 per cent in the same period last fiscal.

Additionally, the company's board announced an interim dividend of Rs 6 per equity share (600 per cent on the face value of Rs 1 per share) for the financial year 2024-25. The interim dividend is scheduled to be paid on or before August 14, 2024.

Hatsun Agro Products engages in the manufacturing, processing, and marketing of dairy products including milk, ice creams, dairy whitener, curd, skimmed milk powder, ghee, and paneer.

The dairy company has a total market capitalisation of Rs 28,244.48 crore, according to BSE. The company’s shares are trading at a price to earnings multiple of 98.92 with an earning per share of Rs 12. 

At 09:53 PM, shares of the dairy products producer were trading 6.45 per cent higher at Rs 1263.55 per share. In comparison, the BSE Sensex was trading 0.20 per cent higher at 80,828 levels.