Hatsun Agro Product Ltd logo

Hatsun Agro Product Ltd

HATSUN NSE

Key Fundamentals

SmallcapDairy ProductsFood Products
Market Cap
₹21,852 Cr
Volatility
Moderate
P/E Ratio
60.08
EBITDA
₹1,030 Cr
Return on Equity
16.23%
Debt to Equity
0.95
Book Value
₹87.3
EPS
₹14.26
52W High
₹1,179
52W Low
₹855.3

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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32 extracted metrics + investor summaries across FY00–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

2
  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 53.1%

Weaknesses

2
  • Stock is trading at 11.1 times its book value
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
8.81% ↗
Net Income Growth
4.30% ↗
Cash Flow Change
2129.67% ↗
ROE
-4.53% ↗
ROCE
3.22% ↗
EBITDA Margin (Avg.)
2.70% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk medium

Hatsun Agro Product Ltd is a Rs 21,877 Cr market cap dairy company trading at a PE of 58.7x and 11x book value, with consistent sales growth of 11% CAGR over 10 years and an ROE of 19% in the last year. The company has been reducing debt while maintaining a 53.1% dividend payout ratio, though its valuation remains elevated relative to earnings.

Bull Case 7
  • Consistent revenue compounder with 10-year sales CAGR of 11% and TTM sales growth accelerating to 18%
  • Profit growth inflecting higher with TTM profit growth at 23% and 3-year compounded profit growth of 30%
  • Healthy ROE track record averaging 17-19% over 3, 5, and 10-year periods, with last year at 19%
  • Company has been actively reducing debt, improving balance sheet quality and reducing interest burden
  • Generous and sustainable dividend payout ratio of 53.1% with current yield of 1.04%
  • Long-term wealth creator with 10-year stock CAGR of 15% despite recent underperformance
  • 10-year compounded profit growth of 20% demonstrates ability to scale profitability alongside revenue over extended periods
Bear Case 7
  • Expensive valuation at PE of 58.7x leaves little margin of safety if growth disappoints
  • Trading at 11.02x book value which is significantly elevated for a food products company
  • 3-year stock CAGR of -5% indicates market has already de-rated the stock from prior peaks
  • 5-year stock CAGR of only 1% suggests prolonged period of shareholder returns not keeping pace with fundamentals
  • Potential capitalization of interest costs raises questions about reported profitability and actual operating margins
  • 5-year compounded profit growth of only 8% versus 10-year rate of 20% indicates a weaker mid-term earnings phase
  • 1-year stock return of 11% lags the TTM profit growth of 23%, suggesting market skepticism on earnings sustainability

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 18h ago
Positives 2
  • Q1 revenue up 19.3% YoY Jul 21

    Hatsun Agro reported Q1 FY27 revenue of ₹3,090.49 crores, up 19.31% YoY, with PAT of ₹133.69 crores.

  • ₹1000 Cr co-product investment plan Aug 5

    Hatsun announced ₹1000 crore capex for co-product projects in FY27, signaling strategic portfolio expansion.

Neutral 1
  • Investor meet scheduled Aug 11 Aug 6

    Hatsun scheduled one-on-one meetings with 11 institutional investors including major mutual funds and asset managers in Mumbai on August 11, 2026.

TL;DR: Hatsun Agro is delivering strong top-line growth with Q1 FY27 revenue up 19.3% YoY, and is backing it with a significant ₹1000 crore investment in co-product expansion. No material headwinds are visible in recent news flow. Active institutional engagement and aggressive capex suggest management confidence, and the trend appears to be improving heading into the rest of FY27.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
2,151
1,905
1,887
2,047
2,375
2,072
2,010
2,243
2,535
2,381
2,364
2,578
3,090
Expenses
1,913
1,687
1,675
1,817
2,045
1,831
1,796
2,018
2,165
2,051
2,108
2,342
2,740
Operating Profit
238
219
213
230
330
241
214
224
370
331
256
235
351
OPM %
11%
11%
11%
11%
14%
12%
11%
10%
15%
14%
11%
9%
11%
Other Income
2
14
4
2
2
7
2
9
3
4
3
3
3
Interest
34
32
38
50
46
45
43
48
43
37
33
32
32
Depreciation
97
100
102
111
111
116
117
127
129
136
146
146
151
PBT
109
101
77
71
176
88
56
59
201
162
79
60
171
Tax %
27%
23%
25%
26%
26%
26%
26%
27%
26%
26%
23%
15%
22%
Net Profit
80
78
57
52
131
64
41
43
148
120
61
51
134
EPS in Rs
3.6
3.48
2.58
2.34
5.86
2.89
1.84
1.93
6.65
5.4
2.72
2.28
6
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,933
3,445
4,198
4,287
4,760
5,308
5,551
6,370
7,247
7,990
8,667
9,959
10,413
Expenses
2,735
3,140
3,820
3,916
4,312
4,758
4,749
5,649
6,546
7,091
7,654
8,783
9,241
Operating Profit
198
305
378
372
448
550
802
721
701
899
1,014
1,177
1,172
OPM %
7%
9%
9%
9%
9%
10%
14%
11%
10%
11%
12%
12%
11%
Other Income
6
5
7
8
-1
9
-22
-21
11
23
19
14
12
Interest
63
68
70
88
86
106
108
107
126
154
182
146
134
Depreciation
94
107
143
174
201
296
295
311
362
409
465
574
579
PBT
47
134
172
119
161
156
377
283
225
358
386
470
471
Tax %
17%
55%
21%
23%
29%
28%
35%
23%
26%
25%
26%
24%
—
Net Profit
39
60
135
91
115
112
246
218
166
267
285
356
365
EPS in Rs
1.76
2.72
6.08
4.08
5.15
5.04
11.06
9.78
7.45
12
12.81
15.99
16.4
Div. Payout %
50%
72%
45%
67%
56%
58%
70%
59%
81%
50%
47%
63%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
11
11
15
15
16
16
22
22
22
22
22
22
Reserves
211
220
333
350
789
888
1,000
1,087
1,418
1,550
1,702
1,922
Borrowings
614
672
919
1,299
1,028
1,434
1,622
1,939
1,793
2,698
2,566
1,838
Other Liabilities
220
255
320
367
413
376
474
494
472
464
541
660
Total Liabilities
1,056
1,157
1,588
2,032
2,246
2,714
3,117
3,542
3,706
4,735
4,832
4,443
Fixed Assets
632
647
991
1,217
1,408
1,756
1,929
2,410
2,615
2,767
3,047
3,505
CWIP
23
33
90
259
233
355
384
237
254
238
245
59
Investments
1
0
0
0
0
0
8
14
21
30
267
43
Other Assets
399
477
506
556
605
604
795
881
816
1,699
1,273
835
Total Assets
1,056
1,157
1,588
2,032
2,246
2,714
3,117
3,542
3,706
4,735
4,832
4,443
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
62
219
433
277
375
552
518
576
741
-71
1,443
1,557
Investing
-124
-134
-569
-523
-343
-537
-418
-565
-441
-388
-880
-435
Financing
76
-79
162
223
-31
-7
-106
-8
-300
474
-564
-1,130
Net Cash Flow
13
6
26
-23
1
8
-7
3
0
14
-1
-8
Free Cash Flow
-63
83
-138
-249
33
12
105
7
307
-457
802
1,126
CFO/OP
37
82
124
83
91
105
76
95
115
6
153
143
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
2
2
4
1
1
1
1
0
0
0
1
0
Inventory Days
43
51
36
45
44
36
55
50
41
94
60
31
Days Payable
18
20
20
20
19
14
13
12
13
12
15
17
Cash Conversion Cycle
27
32
19
26
25
24
42
39
28
83
47
14
Working Capital Days
-24
-24
-41
-55
-30
10
-43
-37
-24
-14
-30
-26
ROCE %
14%
23%
22%
14%
15%
13%
21%
15%
11%
13%
13%
15%

Shareholding Pattern

As of Jun 2026
Promoters 73.17%
DIIs 10.26%
Public 8.65%
Others 4.80%
FIIs 3.12%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Jan 2023Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
74.07%
74.07%
74.12%
74.12%
74.26%
74.26%
73.00%
73.00%
73.11%
73.11%
73.11%
73.11%
73.11%
73.15%
73.17%
73.17%
73.17%
73.17%
73.17%
73.17%
73.17%
73.17%
73.17%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
3.04%
2.91%
2.86%
2.83%
3.29%
3.38%
3.40%
3.39%
3.26%
3.20%
3.14%
3.12%
DIIs
5.89%
6.15%
6.48%
6.48%
6.45%
6.38%
8.15%
8.25%
8.35%
8.40%
8.53%
9.54%
9.70%
9.80%
9.82%
10.17%
10.00%
10.08%
10.21%
10.36%
10.28%
10.26%
10.26%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
14.55%
14.40%
13.37%
13.44%
13.42%
13.38%
8.38%
8.35%
8.27%
8.23%
8.06%
7.99%
7.96%
7.50%
7.48%
7.44%
8.93%
8.79%
8.77%
8.50%
8.58%
8.64%
8.65%
Others
5.49%
5.39%
6.03%
5.96%
5.87%
5.97%
10.47%
10.40%
10.28%
10.26%
10.30%
6.32%
6.32%
6.68%
6.71%
5.94%
4.53%
4.56%
4.46%
4.71%
4.78%
4.80%
4.80%
No. of Shareholders
24,811
24,572
25,407
29,694
30,649
32,680
31,674
30,490
30,683
29,965
29,630
26,365
26,382
25,541
27,006
26,404
37,677
36,665
31,256
34,727
28,734
28,179
28,463

Documents

Frequently Asked Questions about Hatsun Agro Product Ltd

What does Hatsun Agro Product Ltd do?
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 b...
Where is Hatsun Agro Product Ltd (HATSUN) listed?
Hatsun Agro Product Ltd is listed on the Indian stock exchanges. It is listed on NSE: HATSUN and BSE: 531531. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Hatsun Agro Product Ltd belong to?
Hatsun Agro Product Ltd operates in the Food Products sector within the Dairy Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Hatsun Agro Product Ltd?
Hatsun Agro Product Ltd has a market capitalisation of approximately ₹21851.61 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Hatsun Agro Product Ltd?
The Price-to-Earnings (PE) ratio of Hatsun Agro Product Ltd is 60.08. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Hatsun Agro Product Ltd?
Over the past 52 weeks, Hatsun Agro Product Ltd has traded between a low of ₹855.3 and a high of ₹1,179. This range helps investors understand the stock's price volatility and recent trading levels.
Does Hatsun Agro Product Ltd pay dividends?
Yes, Hatsun Agro Product Ltd has a dividend yield of 1.03%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Hatsun Agro Product Ltd?
Hatsun Agro Product Ltd has a Return on Equity (ROE) of 16.23%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Hatsun Agro Product Ltd on Tapetide?
On Tapetide, you can view Hatsun Agro Product Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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]

Website hatsun.com
CEO Mr. J. Shanmuga Priyan
Employees 5,313
Listed 2014-06-20
Face Value ₹ 1
Issued Size 22,27,48,268

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