Hatsun Agro Product Limited

NSE: HATSUN · Dairy Products

52W Range₹855 ₹1,350

Snapshot

Unlock Hatsun Agro Product Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Hatsun Agro Product Limited is a leading Indian dairy company that manufactures and markets a diverse range of milk, milk products, ice creams, and cattle feed. The company operates through well-known brands such as Arokya, Hatsun, Ibaco, and Arun, supported by an extensive network of over 3,500 owned retail outlets.

Business Model

The company generates revenue through the processing and sale of dairy products and ice creams across domestic and international markets. It leverages a robust logistics and distribution network, including its proprietary Hatsun Daily retail outlets, to ensure direct-to-consumer reach.

  • Owned Outlets:3500
  • Export Markets:42 countries

Growth Outlook

Growth is driven by the expansion of the Hatsun Daily retail footprint and the diversification of its product portfolio into value-added dairy segments and ready-to-eat snacks. The company continues to strengthen its international presence by exporting dairy ingredients and finished products to key global markets.

Key Risks

  • Supply Chain Volatility. Fluctuations in raw milk procurement prices and availability can significantly impact operating margins.
  • Food Safety and Quality. As a dairy processor, the company faces inherent risks related to product contamination and stringent food safety regulatory compliance.
  • Competitive Intensity. The Indian dairy sector is highly fragmented, with intense competition from both organised players and unorganised local cooperatives.
  • Geopolitical and Export Risks. Exposure to international markets subjects the company to currency fluctuations and varying trade policies in the 42 countries it serves.

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Key Metrics

REVENUE

₹10,364 Cr

TTM · standalone

-80.4%YoY

NET PROFIT

₹372 Cr

TTM · standalone

-99.2%YoY

EPS

₹16.69

TTM · standalone

+22.6%YoY

P/E

70.0x

Q1 FY27 · standalone

70.0 vs 101.2x5Y avg

EV/EBITDA

23.0x

Q1 FY27 · standalone

23.0 vs 26.5x5Y avg

EBITDA MARGIN

11.4%

TTM · standalone

-73.9 ppYoY

NET PROFIT MARGIN

4.3%

Q1 FY27 · standalone

-90.6 ppYoY

DEBT TO EQUITY

0.7x

Q1 FY27 · standalone

-0.54xYoY

Peers · Dairy Products

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Hatsun Agro Product LimitedHATSUN
₹26,035 Cr70.0323.04-80.4%11.4%20.3%20.1%+26.4%
Kwality Wall's (India) LimitedKWIL
₹9,896 Cr
Dodla Dairy LimitedDODLA
₹6,436 Cr26.2918.3513.1%8.1%15.9%15.8%-26.3%
Vadilal Industries LimitedVADILALIND
₹5,502 Cr24.5715.2430.9%21.8%29.0%32.0%+52.6%
Heritage Foods LimitedHERITGFOOD
₹3,548 Cr26.2813.6111.5%5.9%13.0%15.2%-20.0%
Parag Milk Foods LimitedPARAGMILK
₹3,135 Cr23.6811.6810.9%8.0%11.4%16.7%+2.5%

As of Q1 FY27

Financials