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Hatsun Agro Product Limited (HATSUN)

📊 NSE: HATSUN 🏢 Food - Processing - Indian 📅 Last Updated: 12/13/2025 22:50

📢 Recent Corporate Announcements

Hatsun Agro Dispatches FY26 Annual Report Web-Link Notice; 41st AGM on 25 September 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 03 Sep 2026, 05:50 PM

Hatsun Agro Product Limited has issued a statutory intimation regarding the dispatch of letters to shareholders without registered email addresses, providing access links to the FY25-26 Annual Report and AGM Notice. The company's 41st Annual General Meeting is scheduled for 25th September 2026 via Video Conferencing. Key timelines include the e-voting cut-off date on 18th September 2026 and the voting window open from 22nd to 24th September 2026.

41st Annual General Meeting scheduled for 25th September 2026 at 10:00 AM IST via Video Conferencing
Cut-off date for e-voting eligibility set for Friday, 18th September 2026
Remote e-voting window runs from 22nd September 2026 (09:00 AM) to 24th September 2026 (05:00 PM)
Filing issued in compliance with Regulation 36(1)(b) of SEBI LODR Regulations for members with unregistered emails as on 28th August 2026

💡 Shareholders holding physical or demat shares can check the company's FY26 Annual Report online and ensure their email/KYC details are updated with RTAs to receive corporate communications and electronic dividend payouts.

Hatsun Agro Product Submits FY26 Business Responsibility and Sustainability Report (BRSR)

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 02 Sep 2026, 07:44 PM

Hatsun Agro Product Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 as part of its Annual Report. The report includes an Independent Auditor's Limited Assurance Report from Deloitte Haskins & Sells LLP covering core KPIs. As per disclosures, the company operated 22 plants in India and reported FY26 turnover of ₹9,959.22 crore, with exports contributing 0.27% of revenue. The filing is a statutory compliance disclosure and contains no new financial or operational developments.

Published FY26 BRSR with limited assurance provided by Deloitte Haskins & Sells LLP
Turnover disclosed for FY26 at ₹9,959.22 crore and Net Worth at ₹1,944.52 crore
Total footprint includes 22 plants across India and 1 office in the USA (New Jersey)
Exports accounted for 0.27% of the total turnover in FY26
Total permanent workforce comprised 4,855 employees and 847 permanent workers as of March 31, 2026

💡 No action required as this is an annual statutory ESG reporting submission; investors should track upcoming Q2 FY27 earnings for operating updates.

Hatsun Agro Announces Book Closure From Sep 24 to Sep 25, 2026 for 41st AGM

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 02 Sep 2026, 07:38 PM

Hatsun Agro Product Limited has announced its book closure dates from September 24, 2026 to September 25, 2026 (both days inclusive) for its 41st Annual General Meeting (AGM). The AGM is scheduled to take place on September 25, 2026. This is a standard regulatory filing under Regulation 42 of SEBI LODR Regulations, 2015 for equity shareholders holding ISIN: INE473B01035.

Book closure fixed from September 24, 2026 to September 25, 2026 (both days inclusive)
41st Annual General Meeting scheduled for September 25, 2026
Applies to fully paid-up equity shares under ISIN: INE473B01035
Decision originally taken at the Board of Directors meeting held on July 21, 2026

💡 Track proceedings and voting outcomes of the 41st AGM on September 25, 2026, including approvals for annual financial statements and any strategic management updates.

Hatsun Agro Product Issues Notice for 41st AGM on September 25, 2026 and FY26 Annual Report

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 02 Sep 2026, 05:42 PM

Hatsun Agro Product Limited has dispatched the notice for its 41st Annual General Meeting (AGM), scheduled to be held on September 25, 2026. Along with the notice, the company published its comprehensive Annual Report for the financial year ended March 31, 2026 (FY26). The disclosures detail operational milestones, including milk procurement from over 5 lakh farmers across 13,226+ collection points, and governance structures. This is a routine statutory disclosure without unexpected corporate actions.

41st Annual General Meeting scheduled for September 25, 2026
Annual Report published for the financial year ended March 31, 2026
Discloses milk sourcing network covering over 5 lakh farmers and 13,226+ collection points

💡 Shareholders can review voting resolutions and board commentary in the Annual Report ahead of the AGM on September 25, 2026.

Hatsun Agro's Arun Icecreams Debuts at New York India Day Parade; Distributes 15,000+ Units

🟡 NEUTRAL ⭐ 2/10

OTHER 📅 17 Aug 2026, 09:50 PM

Hatsun Agro Product Limited issued a press release highlighting the debut of its flagship brand, Arun Icecreams, at the New York India Day Parade on August 16, 2026. The brand set up consumer booths on Madison Avenue and distributed over 15,000 ice creams as part of its brand visibility efforts in the United States. While the initiative aligns with Hatsun's strategy to expand overseas distribution, no commercial contracts or revenue targets for the US market were disclosed. Against Hatsun's TTM revenue of ₹9,624 Cr, the immediate financial impact of this promotional event is negligible.

Distributed more than 15,000 ice creams across multiple flavours at the New York India Day Parade on August 16, 2026
Marked Arun Icecreams' first-ever participation in the event to support its expanding US presence
Company footprint includes 4,200+ HAP Daily outlets across Indian states and union territories
Procures milk directly from over 5,00,000 farmers under ISO 22000 quality standards

💡 Track subsequent quarterly disclosures and management commentary for tangible revenue contributions from international export markets.

Hatsun Agro Schedules Meetings with 11 Institutional Investors on August 11, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 06 Aug 2026, 04:10 PM

Hatsun Agro Product Limited has scheduled one-on-one meetings with 11 major institutional investors on August 11, 2026, in Mumbai. The list includes prominent names such as SBI Mutual Fund, HDFC Mutual Fund, Goldman Sachs Asset Management, and ICICI Prudential Mutual Fund. The company stated that discussions will focus on the general business outlook and will not involve unpublished price-sensitive information. This engagement comes as the company maintains its position as India's largest private dairy with a TTM revenue of Rs 9,624 crore.

One-on-one meetings scheduled with 11 institutional investors on August 11, 2026
Participants include top-tier funds like Goldman Sachs Asset Management and SBI Mutual Fund
Company operates with a processing capacity exceeding 40 lakh litres of milk daily
TTM revenue stands at Rs 9,624 crore with a net profit of Rs 348 crore
Promoter holding remains stable at 73.17% as of the latest reporting period

💡 Investors should monitor for any subsequent investor presentations or transcripts filed with the exchanges, which may provide qualitative insights into the progress of the Rs 233 Cr Milk Mantra acquisition and expansion into Odisha.

₹1000 Cr Capex Plan for FY27 to Expand Production and Distribution

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 05 Aug 2026, 09:24 AM

Hatsun Agro Product (HAPL) has announced a significant ₹1000 crore capital expenditure plan for FY27, representing approximately 10% of its FY26 revenue and 51% of its current net worth. The investment aims to scale daily sales from 1.84 crore packs to 2.4 crore packs within two years. The company is targeting a revenue milestone of ₹12,000 crore for FY27, supported by a strong 19% growth rate observed in Q1FY27. Additionally, HAPL plans to expand its retail footprint from 4,100 to over 5,000 HAP Daily outlets by the end of the current financial year.

Planned capex of ₹1000 crore for FY27 to enhance production, procurement, and distribution networks
Targeting a 30% increase in daily product pack sales to 2.4 crore within the next two years
Revenue guidance of ₹12,000 crore for FY27, up from ₹9,959 crore in FY26
Retail expansion to over 5,000 HAP Daily outlets by FY-end, up from the current 4,100
Milk procurement prices increased by 13% YoY, which the company is managing without immediate price hikes

💡 Monitor the execution timeline of the ₹1000 crore capex and the impact of the upcoming protein-rich drink launch on margins. Investors should also track if the 19% Q1 growth rate is sustained to meet the ₹12,000 crore annual revenue target.

19.3% Revenue Growth to ₹3,090 Cr; Hatsun Crosses ₹3,000 Cr Quarterly Revenue Milestone

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 21 Jul 2026, 05:37 PM

Hatsun Agro Product Ltd (HAPL) reported a 19.31% YoY revenue increase to ₹3,090.49 cr for Q1 FY27, marking the first time the company has exceeded ₹3,000 cr in a single quarter. Despite the strong top-line growth, Profit After Tax (PAT) saw a marginal decline to ₹133.69 cr from ₹135.19 cr in Q1 FY26. EBITDA also softened slightly to ₹353.59 cr from ₹360.83 cr YoY, indicating margin pressure. The company achieved high volume growth, selling 153 crore consumer packs through its network of 4,700+ exclusive outlets.

Revenue from operations grew 19.31% YoY to ₹3,090.49 cr in Q1 FY27.
Quarterly revenue surpassed the ₹3,000 cr milestone for the first time in company history.
Sold 153 crore consumer packs during the quarter, equivalent to serving the entire population of India.
Maintains a robust distribution network of over 4,700 exclusive retail and distribution outlets.
EBITDA stood at ₹353.59 cr, representing a slight contraction from ₹360.83 cr in the year-ago quarter.

💡 Investors should monitor milk procurement costs and the company's ability to pass these on to consumers, as profit growth lagged revenue growth. Watch for the performance of high-margin segments like Ibaco and Havia chocolates in upcoming quarters.

₹3,090 Cr Revenue in Q1 FY27; PAT Flat at ₹133.7 Cr Amid 37% Rise in Material Costs

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 21 Jul 2026, 05:29 PM

Hatsun Agro Product Limited reported a strong 19.3% YoY revenue growth to ₹3,090.49 Cr for Q1 FY27. However, Net Profit (PAT) marginally declined by 1.1% to ₹133.69 Cr as the cost of materials consumed surged by 37.3% YoY to ₹2,155.75 Cr, indicating significant margin pressure. The company paid a substantial interim dividend of ₹10 per share during the quarter, totaling ₹222.75 Cr, which represents approximately 64% of its TTM PAT. The board also approved the re-appointment of R.G. Chandramogan as Chairman and J. Shanmuga Priyan as Managing Director.

Revenue from operations increased 19.3% YoY to ₹3,090.49 Cr from ₹2,590.28 Cr.
Cost of materials consumed rose sharply by 37.3% YoY to ₹2,155.75 Cr, outpacing revenue growth.
Net Profit (PAT) stood at ₹133.69 Cr, a slight decrease from ₹135.19 Cr in the year-ago period.
Interim dividend of ₹10 per share (1000%) was paid, involving a total cash outflow of ₹222.75 Cr.
Finance costs saw a healthy reduction of 27% YoY, falling to ₹31.63 Cr from ₹43.38 Cr.

💡 Investors should monitor the trend in milk procurement prices, as the 37% jump in material costs has offset strong top-line growth. Watch for the company's ability to implement price hikes or achieve cost efficiencies in the coming quarters to restore margin levels.

Hatsun Agro Product Submits Routine Share Dematerialization Certificate for Q1 FY27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 15 Jul 2026, 02:16 PM

Hatsun Agro Product Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document, issued by its Registrar and Share Transfer Agent (RTA), confirms the processing of share dematerialization requests for the quarter ended June 30, 2026. The RTA verified that physical certificates were mutilated and cancelled, with the depository's name updated in the register of members within 15 days. This is a standard administrative filing with no impact on the company's financial or operational standing.

Compliance certificate issued for the quarter ended June 30, 2026
Dematerialization requests processed and confirmed within the 15-day regulatory timeline
RTA confirmation provided by Integrated Registry Management Services Private Limited on July 8, 2026
Physical certificates mutilated and cancelled after due verification

💡 No action is required as this is a routine procedural filing. Investors should monitor upcoming quarterly financial results for fundamental business updates.

Hatsun Agro Announces Trading Window Closure for Q1 FY27 Financial Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Jun 2026, 04:46 PM

Hatsun Agro Product Limited has informed the stock exchanges that its trading window will be closed starting June 30, 2026, in compliance with SEBI Insider Trading regulations. This closure is ahead of the announcement of the company's financial results for the quarter ending June 30, 2026. The restriction applies to all promoters, directors, and designated employees of the company. The window will reopen 48 hours after the financial results are officially declared and made public.

Trading window closure commences from the end of the quarter on June 30, 2026.
Restriction applies to Promoters, Directors, Designated Employees, and their immediate relatives.
Window to remain closed until 48 hours after the Q1 FY27 results are generally available.
The specific date for the Board Meeting to approve financial results will be announced later.

💡 This is a routine regulatory filing and does not impact the company's fundamentals. Investors should monitor for the future announcement of the Board Meeting date to assess the upcoming quarterly performance.

Hatsun Agro Declares Rs 10 Interim Dividend; Issues TDS Guidelines for FY 2026-27

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 29 May 2026, 04:15 PM

Hatsun Agro Product Limited has declared a first interim dividend of Rs. 10 per equity share for the financial year 2026-27, representing a 1000% payout on the face value of Re. 1. The company established May 26, 2026, as the record date for identifying eligible shareholders. To comply with tax regulations, the company will deduct TDS at 10% for residents with PAN and 20% for those without. Shareholders must submit necessary tax exemption documents by the June 03, 2026, deadline to avoid higher tax deductions.

Declared first interim dividend of Rs. 10 per share (1000% of face value) for FY 2026-27.
Record date for dividend eligibility was fixed as May 26, 2026.
Standard TDS of 10% applies to resident shareholders with valid PAN; 20% for those without valid PAN or linked Aadhaar.
Deadline for submitting tax exemption forms (Form 15G/15H) is June 03, 2026.
No TDS will be deducted for resident individuals if the total dividend for the FY does not exceed Rs. 10,000.

💡 Ensure your PAN and Aadhaar are linked and bank details are updated in your demat account. Submit tax exemption forms via the provided portal by June 03, 2026, if your income is below the taxable threshold.

Hatsun Agro Appoints M/s. Ramachandran & Associates as Cost Auditors for FY 2026-27

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 19 May 2026, 08:01 PM

Hatsun Agro Product Limited has officially appointed M/s. Ramachandran & Associates as the company's Cost Auditors for the Financial Year 2026-27. The appointment was approved by the Board of Directors during their meeting on May 19, 2026, following the provisions of Section 148 of the Companies Act, 2013. The firm is a sole proprietary concern with significant experience in costing and establishing cost models within the manufacturing sector. This is a standard regulatory compliance measure and does not indicate any change in business strategy.

Appointment of M/s. Ramachandran & Associates (Firm Reg. No. 000799) as Cost Auditors.
The appointment is effective for the Financial Year 2026-27.
The firm is managed by Mr. Srinivasan Ramachandran (Mem No: 4341) who has extensive experience in the manufacturing sector.
The board meeting approving this appointment was held on May 19, 2026.

💡 This is a routine regulatory filing with no direct impact on the company's financial health or stock price. Investors should continue to track the company's operational performance and quarterly earnings reports.

Hatsun Agro Declares Rs 10 Interim Dividend for FY 2026-27; Sets Record Date for May 26

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 19 May 2026, 07:57 PM

Hatsun Agro Product Limited has declared its first interim dividend of Rs 10 per equity share for the financial year 2026-27. This represents a 1000% payout on the face value of Re 1 per share. The company has fixed May 26, 2026, as the record date to determine eligible shareholders. The dividend is scheduled to be paid to eligible investors on or before June 17, 2026.

First interim dividend of Rs 10.00 per equity share (1000% of face value)
Record date for dividend eligibility fixed as May 26, 2026
Dividend payment to be completed within 30 days, by June 17, 2026
Announcement follows the Board of Directors meeting held on May 19, 2026

💡 Investors seeking dividend income should ensure they hold the shares before the ex-dividend date to qualify for the Rs 10 payout. This high percentage payout reflects the company's commitment to returning capital to shareholders.

Hatsun Agro Declares First Interim Dividend of Rs 10 Per Share for FY 2026-27

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 19 May 2026, 07:56 PM

Hatsun Agro Product Limited has declared its first interim dividend of Rs 10 per equity share for the financial year 2026-27. This represents a significant 1000% payout on the face value of Re 1 per share. The company has fixed May 26, 2026, as the record date to identify eligible shareholders. The dividend is scheduled to be paid to shareholders on or before June 17, 2026.

First interim dividend of Rs 10 per equity share declared for FY 2026-27
Dividend payout ratio stands at 1000% of the Re 1 face value
Record date for dividend eligibility is set for May 26, 2026
Payment to be completed within 30 days of declaration, by June 17, 2026

💡 Investors looking for dividend income should ensure they hold the stock before the ex-dividend date to be eligible for the Rs 10 per share payout. This move reflects the company's strong cash flow and commitment to shareholder returns.

View All HATSUN Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Milk & Milk Products segment accounts for 100% of turnover, which grew 8.9% YoY to INR 8,683 Cr in FY25. H1 FY26 revenue reached INR 5,018 Cr.

Geographic Revenue Split

Tamil Nadu contribution reduced to 55% in FY25 from higher historical levels. Other states including Karnataka, Andhra Pradesh, Telangana, Maharashtra, and Odisha contribute the remaining 45%.

Profitability Margins

Operating margins improved to 11.61% in FY25 from 9.65% in FY23. Net Profit Margin stood at 3.29% in FY25 compared to 3.34% in FY24.

EBITDA Margin

EBITDA margin was 11.6% in FY25 (INR 1,006 Cr). H1 FY26 EBITDA margin surged to 13.8%, representing 196% growth over H1 FY25.

Capital Expenditure

Historical investment in infrastructure such as freezers and cold storage totals approximately INR 1,100 Cr. Acquisition of Milk Mantra Dairy in FY25 cost INR 233 Cr.

Credit Rating & Borrowing

CRISIL AA-/Positive (revised from Stable in June 2025). Total bank loan facilities rated at INR 2,120 Cr. Interest coverage ratio is comfortable at 5.55 times.

⚙️ Operational Drivers

Raw Materials

Raw milk (processed at 40 lakh litres daily) and Skimmed Milk Powder (SMP) are the primary raw materials, with SMP stock reduction being a key driver for working capital efficiency.

Import Sources

Sourced domestically from over 10,000 villages across Tamil Nadu, Andhra Pradesh, Karnataka, Telangana, Maharashtra, and Odisha.

Key Suppliers

Procurement is direct from over 5 lakh farmers through a network of 13,000 milk banks.

Capacity Expansion

Current processing capacity exceeds 40 lakh litres of milk daily across 23 factories. Planned expansion includes penetrating the Eastern market (Kolkata) from the Odisha base.

Raw Material Costs

Raw material costs are managed through direct procurement; SMP stock reduction lowered Gross Current Asset (GCA) days from 71 to 51 days in FY25.

Manufacturing Efficiency

ROCE stood at 11-13% over the last three fiscal years ending FY25, supported by high capacity utilization and integrated chilling units.

Logistics & Distribution

Distribution is handled through 4,000+ exclusive own outlets and distribution vessels to maintain a 0.5-day receivable cycle.

📈 Strategic Growth

Expected Growth Rate

15-17.5%

Growth Strategy

Achieving growth through geographic expansion into Maharashtra and Odisha (via the INR 233 Cr Milk Mantra acquisition), scaling the 'Daily Moo' app, and expanding the product portfolio into premium chocolates (Havia) and mid-market chocolates (Hanobar).

Products & Services

Arokya milk, Arun ice creams, Hatsun curd, ghee, butter, Ibaco ice-cream chain, Santosa Cattle Feed, and Havia chocolates.

Brand Portfolio

Arun, Arokya, Hatsun, Ibaco, Santosa, Havia, Hanobar, and Oyalo (discontinued).

New Products/Services

Launched 'Slice It' ice cream range, new kulfi flavors, and fermented dairy products like yoghurt and dairy-based spreads in FY25.

Market Expansion

Expanding global distribution to Singapore, Seychelles, Brunei, Maldives, Mauritius, and UAE (Ajman).

Market Share & Ranking

Largest private sector dairy company in India; leading by more than two times the next private dairy competitor in milk and curd segments.

Strategic Alliances

Acquired Milk Mantra Dairy Private Limited (MMDPL) in January 2025 to anchor Eastern India expansion.

🌍 External Factors

Industry Trends

The dairy industry is growing at 8-10% annually, with a strong shift toward formalization and branded value-added products like curd and ice cream.

Competitive Landscape

Competes with Heritage Foods (7.9% EBITDA margin), Dodla Dairy (10.3%), and Parag Milk (1.6%). Hatsun maintains a superior 11.6% margin.

Competitive Moat

Moat is built on brand equity (three INR 1,000 Cr+ brands) and a massive direct-to-consumer retail network of 4,000+ outlets, which is highly sustainable and difficult for competitors to replicate.

Macro Economic Sensitivity

Sensitive to GST reforms; a cut in GST rates across dairy products is expected to accelerate sector formalization and benefit market leaders.

Consumer Behavior

Increasing preference for branded and packaged curd among working women, making curd the second-largest revenue source.

Geopolitical Risks

Trade barriers or regulatory changes in export markets like the UAE or Singapore could impact the global expansion strategy.

⚖️ Regulatory & Governance

Industry Regulations

Compliant with National Standards including ISO 22000, FSSC 22000, and Export Import Certification (EIC).

Environmental Compliance

Committed to replacing electricity with 1,200 units/day of biogas and planting 2,500 trees across plants to meet ESG goals.

Taxation Policy Impact

Beneficiary of GST formalization; potential GST rate cuts on dairy products would further improve competitive positioning against unorganized players.

Legal Contingencies

No material pending court cases or fines related to corruption or conflicts of interest reported for FY25.

⚠️ Risk Analysis

Key Uncertainties

Entry into non-mature markets like Odisha and Maharashtra involves high marketing overheads and intense competition, which could impact short-term profitability by 1-2%.