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Hatsun Agro Product Ltd (HATSUN)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531531 NSE: HATSUN Consumer Food | Small Cap | Hatsun Agro Product Share Price

₹904 0.50 (0.06%)

As on 05-Jun'26 09:35

Hatsun Agro Product Ltd (HATSUN)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531531 NSE: HATSUN Consumer Food | Small Cap | Hatsun Agro Product Share Price

₹904 0.50 (0.06%)

As on 05-Jun'26 09:35

Key Metrics
Valuation Multiples
Market Cap
₹20,125 Cr.
Current Price
₹904
52-Week Low / High
₹731 / 1,179
TTM EPS
₹16
TTM Sales
₹9,959 Cr.
Book Value per Share
₹87.3
P/E Ratio
56.50
Lower than its 5-year historical median
Industry PE
55.5
Price to Book (P/B)
10.35
Lower than its 5-year historical median
Price to Sales (P/S)
2.02
Lower than its 5-year historical median
EV/EBITDA
17.98
Lower than its 5-year historical median
Dividend Yield
0.62%
Profitability Efficiency
Return on Equity (ROE)
17.32%
Outperforms industry median
Return on Capital Employed (ROCE)
14.82%
Outperforms industry median
Return on Assets (ROA)
5.29%
Operating Profit Margin
11.7%
Net Profit Margin
3.29%
Gross Profit Margin
9.8%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
8.47%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
12.76%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
6.8%
Asset Quality
Promoter Holding
73.17%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,922 Cr.
Equity
₹22.3 Cr.
Face Value
₹1
All Time Low / High
₹1.52 / 1505.58

Hatsun Agro Product stock performance

Key Ratios
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Check Before You Invest

Valuation

Undervalued

Price Trend

Semi Strong
Q.1 Is Hatsun Agro Product Ltd a good quality company?
Hatsun Agro Product Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Hatsun Agro Product Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Hatsun Agro Product Ltd vs industry peers?
Hatsun Agro Product Ltd revenue CAGR is 10.30%, compared to the industry median CAGR of 7.03%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Hatsun Agro Product Ltd?
Promoters hold 73.17% of the Hatsun Agro Product Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Hatsun Agro Product Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 15.3% based on the current price.

DeciZen - make an informed investing decision on Hatsun Agro Product

Decision Maker
Standalone basis

1. Right Stock

10 Year X-ray Pro
Long Term Prospect

2. Right Price

3. Right Time

#Likely Future 5 Year CAGR.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Hatsun Agro Product Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 23.3%22.3%14.1%14.1%13.3%22.6%16%12.3%15.2%14.8%-
Value Creation
Index
0.70.70.00.10.00.70.4-0.10.40.3-

Growth Parameters

Sales 3,4454,1984,2874,7605,3085,5516,3707,2477,9908,6679,959
Sales YoY Gr.-21.9%2.1%11%11.5%4.6%14.8%13.8%10.3%8.5%-
Adj EPS 2.86.54.35.55.112.511.27.311.512.716
YoY Gr.-129.5%-33.8%28.8%-7.6%145.1%-10.1%-34.9%58.4%9.9%-
BVPS (₹) 1116.617.537.141.246.550.564.770.677.487.3
Adj Net
Profit
58.813589.5121112273246162257282356
Cash Flow from Ops. 219433277375552518576741-71.51,443-
Debt/CF from Ops. 3.12.14.72.72.22.732-31.81.5-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 10.8%10.3%10.8%8.5%
Adj EPS 18.2%20.1%4.2%9.9%
BVPS24.2%13.4%15.3%9.7%
Share Price 14.6% 1.5% 0.9% -8.1%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
2646.725.120.713.128.423.112.717.117.119.4
Op. Profit
Mgn %
8.898.79.510.414.511.39.711.311.712.2
Net Profit
Mgn %
1.73.22.12.52.14.93.92.23.23.33.6
Debt to
Equity
2.92.63.61.31.31.41.511.41.20.3
Working Cap
Days
4339414239435560788613
Cash Conv.
Cycle
19161516152225213742-11

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales3,4454,1984,2874,7605,3085,5516,3707,2477,9908,667
Operating Expenses + 3,1403,8203,9164,3194,7584,7495,6496,5467,0917,654
Manufacturing Costs240252231309380362481535615716
Material Costs2,4893,0493,0843,3433,7613,7924,4085,1835,6196,008
Employee Cost 110127141156168185210224226243
Other Costs 301392460511449411550603631686
Operating Profit 3053783724415508027217018991,014
Operating Profit Margin (%) 8.8%9.0%8.7%9.3%10.4%14.4%11.3%9.7%11.3%11.7%
Other Income + 57869610112319
Exceptional Items 0000000000
Interest 68708886106108107126154182
Depreciation 107143174201296295311362409465
Profit Before Tax 134172119161156404314225358386
Tax 7336284644131655991101
Profit After Tax 6013591115112274248166267285
PAT Margin (%) 1.8%3.2%2.1%2.4%2.1%4.9%3.9%2.3%3.3%3.3%
Adjusted EPS (₹)2.96.54.35.35.112.511.37.512.012.8
Dividend Payout Ratio (%)71.90%45%67%55.70%86.40%63%52.10%80.60%50%46.80%

Valuation of Hatsun Agro Product - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 2313493668059041,0221,1091,4411,5721,724
Share Capital 11151516162222222222
Reserves 2203333507898881,0001,0871,4181,5501,702
Debt +5196901,0097379111,1021,3551,1681,8401,692
Long Term Debt230369542502614536784780956934
Short Term Debt289320467234297566571388885757
Minority Interest0000000000
Trade Payables137170171178142140147184188241
Others Liabilities 2713794865277578541,2901,3371,6931,836
Total Liabilities 1,1571,5882,0322,2462,7143,1173,9014,1315,2935,493

Fixed Assets

Net Fixed Assets +6479911,2171,4081,7561,9292,4102,6152,7673,047
Gross Block1,1321,0911,4451,8262,4352,8683,5634,0464,3674,978
Accumulated Depreciation4851002284186799391,1531,4311,6001,931
CWIP 3390259233355384237254238245
Investments 000008142130267
Inventories3472973844033745706095761,452987
Trade Receivables154178159881028
Cash Equivalents 29553336453940425362
Others Assets 86113132157171177584615742857
Total Assets 1,1571,5882,0322,2462,7143,1173,9014,1315,2935,493

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 219433277375552518576741-711,443
PBT 134172119161156364275225358386
Adjustment 171210255283398418424478543636
Changes in Working Capital -5489-65-3523-169-17103-848532
Tax Paid -33-37-31-35-25-95-106-64-124-112
Cash Flow From Investing Activity + -134-569-523-343-537-418-565-441-388-880
Capex -135-571-526-342-540-413-570-434-386-641
Net Investments 10000-8-5-6-8-1
Others 123-03310-05-238
Cash Flow From Financing Activity + -79162223-31-7-106-8-300474-564
Net Proceeds from Shares 0004181050029700
Net Proceeds from Borrowing -42219233-39107-75287-77327-48
Interest Paid -66-70-84-84-102-114-108-128-118-146
Dividend Paid -56-18-61-94-116-129-129-129-134-134
Others 8632134-233-1212-58-263398-237
Net Cash Flow 626-2318-73014-1

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)26.8946.8125.4419.6313.1428.4123.3113.0117.7417.32
ROCE (%)23.3122.314.0714.1213.3322.5815.9912.2915.2114.82
Asset Turnover Ratio3.123.062.372.232.141.91.821.81.71.61
PAT to CFO Conversion(x)3.653.213.043.264.931.892.324.46-0.275.06
Working Capital Days
Receivable Days1.502.4020.600.800.800.500.400.400.80
Inventory Days3227.9028.9030.2026.703133.8029.9046.3051.40
Payable Days1818.4020.2019.1015.5013.6011.9011.7012.1013

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.003.910.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Hatsun Agro Product Ltd FAQs

The current trading price of Hatsun Agro Product on 05-Jun-2026 09:35 is ₹904.0.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Jun-2026 the market cap of Hatsun Agro Product stood at ₹20,125.3 Cr

The latest P/E ratio of Hatsun Agro Product as of 04-Jun-2026 is 56.50.

The latest P/B ratio of Hatsun Agro Product as of 04-Jun-2026 is 10.35.

The 52-week high of Hatsun Agro Product is ₹1,178.8 and the 52-week low is ₹731.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Hatsun Agro Product is ₹9,959 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Hatsun Agro Product Ltd is a good quality company.

The key valuation ratios of Hatsun Agro Product Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Hatsun Agro Product Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Hatsun Agro Product Ltd

Hatsun Agro Product Limited is based in South India and was incorporated in 1970. R.G.Chandramogan is the founder of this company. Hatsun started marketing fresh milk in pouches from 1993 and manufacturing dairy ingredients from 2003. It is located at 5-A,Vijayaraghava road,T.Nagar,Chennai - 600 017 Tamilnadu, India.

Business

Hatsun is the largest private sector dairy company in India and hence has a distinct advantage of dealing in cow's milk. In 1970, Hatsun began with the pioneering effort of producing Arun ice cream, which still continues to be the most popular ice cream brand in South India.

The company procures around 1.65 million liters of liquid milk per day by directly collecting it from farmers spread over 4500 villages in south India. It has its own infrastructure of milk collection centre and chilling centre for procuring and handling of raw milk. Over 350 field's staffs are employed to ensure timely collection, testing of milk at the point of collection, weekly payment; cattle feed sales, encouraging farmers to grow their herd size, bank loans, animal insurance, training farmers on a better animal management and clean milking. It is having high-tech processing plants operating at 7 locations.

This is the only company in India using Bactofuge Technology (from West Falia-Germany) to clarify liquid milk.

In 2012 Hatsun Agro Product started selling of new range of Ice Creams under the Brand name ''IBACO''

In 2013 Hatsun Agro acquired Jyothi Dairy for Rs.65 crore

Hatsun products:

  • Ice cream -  Arun ICECREAM ,Make Your Own Sunday, Arun Unlimited
  • Milk Products - Hatsun Cooking Butter , Hatsun Cow Ghee , Hatsun Butter Milk , Hutsun Curd , Hutsun Panner
  • Beverages - Aaros Milk/ Badam Milk, Aaros Tea/ Masala Tea , Aaros Coffee Aaros Ragi
  • Diary Ingredients

Certifications:

  • ISO 22000:2005
  • ISO 9001:2000
  • ISO 14001:2004
  • ISO 15000:1998
  • HACCP certified manufacturing facilities
  • Export Inspection Council
  • Kosher Certificate
  • HALAL
  • USFDA
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