Credit rating agency, CARE has reaffirmed ‘A-’ rating to Hatsun Agro Product’s long-term bank facilities worth Rs 497.87 crore, which was enhanced from Rs 370.35 crore. The rating agency has also reaffirmed ‘A2+’ rating to the company’s short-term bank facilities worth Rs 2 crore which was reduced from Rs 117 crore.
The ratings continue to take into account the established track record of Hatsun Agro Product (HAPL) in the liquid milk and ice-cream businesses, presence of strong brands especially in the standardized milk and ice-cream segments, strong procurement network and experienced management team.
Hatsun Agro Products is the largest private sector dairy company in India and has a distinct advantage of dealing in cow's milk. The company procures around 1.65 million liters of liquid milk per day by directly collecting it from farmers spread over 4,500 villages in south India.
