HATSUN AGRO PRODUCT LTD (HAP)

Mumbai, 22nd April, 2024: Hatsun Agro Product Ltd, India’s leading private sector dairy company, has announced its financial results for the 4th Quarter and for Financial Year ended 31st March 2024.
Q4 FY 24 Vs Q4 FY 23 Highlights:
Revenue from operations in Q4 FY 24 was Rs.2046.87 crores as against Rs.1789.46 crores in Q4 FY 23 registered a growth of 14.38%

EBITDA in Q4 FY 24 was Rs.231.77 crores as against Rs.158.05 crores in Q4 FY 23 registered a growth of 46.64%

PBT in Q4 FY 24 was Rs.70.89 crores as against Rs.32.88 crores in Q4 FY 23 registered a growth of 115.59%

PAT in Q4 FY 24 was Rs.52.16 crores as against Rs.24.99 crores in Q4 FY 23 registered a growth of 108.76%

Procurement of milk registered a growth of 39.04% in FY 24 over FY 23

FY 24 Vs FY 23 Highlights:
Revenue from operations in FY 24 was Rs.7990.40 crores as against Rs.7246.97 crores in FY 23 registered a growth of 10.26%

EBITDA in FY 24 was Rs.921.56 crores as against Rs.712.00 crores in FY 23 registered a growth of 29.43%

PBT in FY 24 was Rs.357.89 crores as against Rs.224.56 crores in FY 23 registered a growth of 59.37%

PAT in FY 24 was Rs.267.29 crores as against Rs.165.86 crores in FY 23 registered a growth of 61.15%

Procurement of milk in FY 24 registered a growth of 20.30%

COVID had disturbed the operations for two years, which led to an impact on milk procurement in the second half of FY 2022-23 and the first half of FY 2023-24.

Normalcy has been restored in the second half of 2023-24 for both procurement of milk and sales.
Performance for the quarter and outlook
Commenting on the results, Mr. RG Chandramogan, Chairman, Hatsun Agro Product Ltd said, “We are happy to report good growth in procurement of milk and revenues both in Q4 and for the full FY 2023-24. Strong sales recovery in the domestic market post Covid with good summer sales have led to good sales volume. All our business verticals did well with our leading brands registering healthy sales growth. HAP’s retail expansion in the last two years helped us reach customers in new markets like Maharashtra, Orissa, West Bengal and Madhya Pradesh and also supported existing strong bases in South India. HAP in the last financial year, had invested about Rs.550 crores across new manufacturing facilities for capacity expansion in Curd and Milk Products and in market assets. The new capacities will further support our sales plans for FY 2024-25. Considerable investments have also been made to strengthen distribution, sales and marketing of our brands.”