HATSUN

Hatsun Agro Product Limited

Dairy products and ice cream under multiple consumer brands

Fast Moving Consumer Goods›Fast Moving Consumer Goods›Food Products›Dairy Products

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Key metrics

Price as of 2026-10-16

Stock price
₹1162.10
Market cap
25,894 Cr
Stock P/E
69.6
P/B
13.34
Dividend yield
0.5%
ROE (FY25)
16.2%
ROCE (FY25)
14.7%
Operating margin (FY25)
6.2%
Debt / equity (FY25)
1.22
OCF / EBITDA (FY26)
132.3%
OCF / EBITDA (3Y)
94.8%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Hatsun (Hatsun Agro Product) is a Chennai-based dairy company that processes milk and sells milk, curd, ice cream and other dairy products to consumers under brands including Arokya, Arun, Hatsun and the premium ice-cream brand Ibaco, mostly through its own and franchise outlets.

Company snapshot

1stBy market cap

Ranked among 8 companies in Dairy Products.

Segment mix

Reportable segments as of 2023-06-30 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 100.0% of revenue

SegmentRevenue shareRevenuePBTAssets
Milk and Milk productds
100.0%
2,151 Cr142 Cr3,784 Cr

Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales1,905 Cr1,887 Cr2,047 Cr2,375 Cr2,072 Cr2,010 Cr2,210 Cr2,535 Cr2,381 Cr2,315 Cr2,578 Cr3,090 Cr
Operating expenses (approx.)1,687 Cr1,675 Cr1,817 Cr2,045 Cr1,831 Cr1,796 Cr1,982 Cr2,165 Cr2,051 Cr2,058 Cr2,342 Cr2,740 Cr
EBITDA219 Cr213 Cr230 Cr330 Cr241 Cr214 Cr228 Cr370 Cr331 Cr257 Cr235 Cr351 Cr
OPM %11.5%11.3%11.2%13.9%11.6%10.7%10.3%14.6%13.9%11.1%9.1%11.3%
Other income14 Cr4 Cr2 Cr2 Cr7 Cr2 Cr8 Cr3 Cr4 Cr2 Cr3 Cr3 Cr
Interest32 Cr38 Cr50 Cr46 Cr45 Cr43 Cr48 Cr43 Cr37 Cr33 Cr32 Cr32 Cr
Depreciation100 Cr102 Cr111 Cr111 Cr116 Cr117 Cr121 Cr129 Cr136 Cr139 Cr146 Cr151 Cr
Profit before tax101 Cr77 Cr71 Cr176 Cr88 Cr56 Cr67 Cr201 Cr162 Cr88 Cr60 Cr171 Cr
Tax %23.4%25.1%26.4%25.7%26.5%26.5%26.4%26.4%25.6%23.5%14.9%21.7%
Net profit78 Cr57 Cr52 Cr131 Cr64 Cr41 Cr50 Cr148 Cr120 Cr67 Cr51 Cr134 Cr
EPS (₹)₹3.48₹2.58₹2.34₹5.86₹2.89₹1.84₹2.23₹6.65₹5.40₹3.01₹2.28₹6.00

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales4,205 Cr4,290 Cr4,760 Cr5,308 Cr5,570 Cr6,370 Cr7,247 Cr7,990 Cr8,667 Cr9,959 CrSign in free for the trailing twelve months
Operating expenses (approx.)3,827 Cr3,918 Cr4,319 Cr4,758 Cr4,791 Cr5,649 Cr6,546 Cr7,091 Cr7,654 Cr8,783 CrSign in free for the trailing twelve months
EBITDA378 Cr372 Cr441 Cr550 Cr779 Cr721 Cr701 Cr899 Cr1,014 Cr1,177 CrSign in free for the trailing twelve months
OPM %9.0%8.7%9.3%10.4%14.0%11.3%9.7%11.3%11.7%11.8%Sign in free for the trailing twelve months
Other income7 Cr8 Cr6 Cr9 Cr6 Cr10 Cr11 Cr23 Cr19 Cr14 CrSign in free for the trailing twelve months
Interest70 Cr88 Cr86 Cr106 Cr110 Cr107 Cr126 Cr154 Cr182 Cr146 CrSign in free for the trailing twelve months
Depreciation143 Cr174 Cr201 Cr296 Cr310 Cr311 Cr362 Cr409 Cr465 Cr574 CrSign in free for the trailing twelve months
Profit before tax172 Cr119 Cr161 Cr156 Cr364 Cr275 Cr225 Cr358 Cr386 Cr470 CrSign in free for the trailing twelve months
Tax %21.2%23.5%28.7%28.2%32.3%20.9%26.1%25.3%26.1%24.3%Sign in free for the trailing twelve months
Net profit135 Cr91 Cr115 Cr112 Cr246 Cr218 Cr166 Cr267 Cr285 Cr356 CrSign in free for the trailing twelve months
EPS (₹)₹8.90₹5.96₹7.19₹6.99₹11.43₹10.05₹7.54₹12.00₹12.81₹15.99Sign in free for the trailing twelve months
Dividend payout %————52.5%59.4%78.0%50.0%46.8%37.5%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital15 Cr15 Cr16 Cr16 Cr22 Cr22 Cr22 Cr22 Cr22 Cr22 Cr
Reserves333 Cr350 Cr789 Cr888 Cr1,000 Cr1,087 Cr1,418 Cr1,550 Cr1,702 Cr1,922 Cr
Borrowings690 Cr1,009 Cr737 Cr911 Cr1,102 Cr1,708 Cr1,448 Cr2,272 Cr2,097 Cr1,332 Cr
Other liabilities549 Cr737 Cr705 Cr899 Cr994 Cr725 Cr862 Cr891 Cr1,011 Cr1,166 Cr
Total liabilities1,588 Cr2,111 Cr2,246 Cr2,714 Cr3,117 Cr3,542 Cr3,751 Cr4,735 Cr4,832 Cr4,443 Cr
Fixed assets (net)980 Cr1,205 Cr1,395 Cr1,512 Cr1,727 Cr2,394 Cr2,601 Cr2,755 Cr3,037 Cr3,347 Cr
CWIP90 Cr259 Cr233 Cr355 Cr384 Cr237 Cr254 Cr238 Cr245 Cr59 Cr
Investments0.25 Cr0.13 Cr0.12 Cr0.12 Cr195 Cr14 Cr21 Cr30 Cr267 Cr56 Cr
Inventories297 Cr384 Cr403 Cr374 Cr570 Cr609 Cr576 Cr1,452 Cr987 Cr591 Cr
Trade receivables41 Cr7 Cr8 Cr15 Cr9 Cr8 Cr8 Cr10 Cr28 Cr5 Cr
Cash & bank55 Cr33 Cr36 Cr41 Cr34 Cr37 Cr37 Cr51 Cr50 Cr49 Cr
Other assets124 Cr223 Cr169 Cr418 Cr198 Cr243 Cr253 Cr198 Cr218 Cr336 Cr
Total assets1,588 Cr2,111 Cr2,246 Cr2,714 Cr3,117 Cr3,542 Cr3,751 Cr4,735 Cr4,832 Cr4,443 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity433 Cr277 Cr375 Cr552 Cr518 Cr576 Cr741 Cr-71 Cr1,443 Cr1,557 Cr
Cash from investing-569 Cr-523 Cr-343 Cr-537 Cr-418 Cr-565 Cr-441 Cr-388 Cr-880 Cr-435 Cr
Cash from financing162 Cr223 Cr-31 Cr-7 Cr-106 Cr-8 Cr-300 Cr474 Cr-564 Cr-1,130 Cr
Net cash flow26 Cr-23 Cr1 Cr8 Cr-7 Cr3 Cr0.0006 Cr14 Cr-0.67 Cr-8 Cr
Free cash flow (OCF − Capex)-140 Cr-256 Cr24 Cr6 Cr101 Cr-11 Cr270 Cr-607 Cr790 Cr1,118 Cr

Ratios

MetricMar 2025
ROCE %14.7%
ROE %16.2%
Debtor days0
Inventory days62
Days payable16
Cash conversion cycle47
OCF / EBITDA %143.6%
Debt / equity1.22
Current ratio0.63
Net debt / EBITDA2.02