BSE: 531531 | NSE: HATSUN | Consumer Food | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Hatsun Agro Product Ltd is a average 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 Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Hatsun Agro Product Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 14.7% | 23.3% | 22.3% | 14.1% | 14.1% | 13.3% | 22.6% | 16% | 12.3% | 15.2% | - |
| Value Creation Index ⓘ | 0.1 | 0.7 | 0.7 | 0.0 | 0.1 | 0.0 | 0.7 | 0.4 | -0.1 | 0.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 2,933 | 3,445 | 4,198 | 4,287 | 4,760 | 5,308 | 5,551 | 6,370 | 7,247 | 7,990 | 8,382 |
| Sales YoY Gr. | - | 17.4% | 21.9% | 2.1% | 11% | 11.5% | 4.6% | 14.8% | 13.8% | 10.3% | - |
| Adj EPS ⓘ | 1.8 | 2.8 | 6.5 | 4.3 | 5.5 | 5.1 | 12.5 | 11.2 | 7.3 | 11.5 | 13.7 |
| YoY Gr. | - | 59.7% | 129.5% | -33.8% | 28.3% | -7.3% | 145.1% | -10.1% | -34.9% | 58.4% | - |
| BVPS (₹) ⓘ | 10.5 | 11 | 16.6 | 17.5 | 37.1 | 41.2 | 46.5 | 50.5 | 64.7 | 70.6 | 73.3 |
| Adj Net Profit ⓘ | 36.9 | 58.8 | 135 | 89.5 | 120 | 112 | 273 | 246 | 162 | 257 | 304 |
| Cash Flow from Ops. ⓘ | 61.5 | 219 | 433 | 277 | 375 | 552 | 518 | 576 | 741 | -71.5 | - |
| Debt/CF from Ops. ⓘ | 10 | 3.1 | 2.1 | 4.7 | 2.7 | 2.2 | 2.7 | 3 | 2 | -31.8 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 11.8% | 10.9% | 12.9% | 10.3% | ||||
| Adj EPS ⓘ | 23.2% | 16% | -2.5% | 58.4% | ||||
| BVPSⓘ | 23.6% | 13.7% | 14.9% | 9.1% | ||||
| Share Price | 20.8% | 19.5% | -5.4% | -4% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 18.4 | 26 | 46.7 | 25.1 | 20.6 | 13.1 | 28.4 | 23.1 | 12.7 | 17.1 | 19 |
| Op. Profit Mgn % ⓘ | 6.8 | 8.8 | 9 | 8.7 | 9.4 | 10.4 | 14.5 | 11.3 | 9.7 | 11.3 | 12.1 |
| Net Profit Mgn % ⓘ | 1.3 | 1.7 | 3.2 | 2.1 | 2.5 | 2.1 | 4.9 | 3.9 | 2.2 | 3.2 | 3.6 |
| Debt to Equity ⓘ | 2.8 | 2.9 | 2.6 | 3.6 | 1.3 | 1.3 | 1.4 | 1.5 | 1 | 1.4 | 0.5 |
| Working Cap Days ⓘ | 37 | 43 | 39 | 41 | 42 | 39 | 43 | 55 | 60 | 78 | 32 |
| Cash Conv. Cycle ⓘ | 11 | 19 | 16 | 15 | 16 | 15 | 22 | 25 | 21 | 37 | -6 |
Return on Equity has increased versus last 3 years average to 19.00%
Sales growth is growing at healthy rate in last 3 years 12.91%
Sales growth is good in last 4 quarters at 11.23%
Net Profit has been subdued in last 3 years -2.53%
Debt to equity has increased versus last 3 years average to 1.44
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 13.7 | 0.1 |
| TTM Sales (₹ Cr.) | 8,382 | 1,141 |
| BVPS (₹.) ⓘ | 73.3 | 0 |
| Reserves (₹ Cr.) ⓘ | 1,611 | 47 |
| P/BV ⓘ | 14.44 | 0.00 |
| PE ⓘ | 77.49 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 956.10 / 1380.00 |
| All Time Low / High (₹) | 1.52 / 1505.58 |
| Market Cap (₹ Cr.) | 23,589 |
| Equity (₹ Cr.) | 22.3 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 63.7 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.91 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,933 | 3,445 | 4,198 | 4,287 | 4,760 | 5,308 | 5,551 | 6,370 | 7,247 | 7,990 |
| Operating Expenses ⓘ | 2,735 | 3,140 | 3,820 | 3,916 | 4,319 | 4,758 | 4,749 | 5,649 | 6,546 | 7,091 |
| Manufacturing Costs | 206 | 240 | 252 | 231 | 309 | 380 | 362 | 481 | 535 | 615 |
| Material Costs | 2,184 | 2,489 | 3,049 | 3,084 | 3,343 | 3,761 | 3,792 | 4,408 | 5,183 | 5,619 |
| Employee Cost | 93 | 110 | 127 | 141 | 156 | 168 | 185 | 210 | 224 | 226 |
| Other Costs ⓘ | 252 | 301 | 392 | 460 | 511 | 449 | 411 | 550 | 603 | 631 |
| Operating Profit ⓘ | 198 | 305 | 378 | 372 | 441 | 550 | 802 | 721 | 701 | 899 |
| Operating Profit Margin (%) | 6.8% | 8.8% | 9.0% | 8.7% | 9.3% | 10.4% | 14.4% | 11.3% | 9.7% | 11.3% |
| Other Income ⓘ | 6 | 5 | 7 | 8 | 6 | 9 | 6 | 10 | 11 | 23 |
| Interest ⓘ | 63 | 68 | 70 | 88 | 86 | 106 | 108 | 107 | 126 | 154 |
| Depreciation ⓘ | 94 | 107 | 143 | 174 | 201 | 296 | 295 | 311 | 362 | 409 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 47 | 134 | 172 | 119 | 161 | 156 | 404 | 314 | 225 | 358 |
| Tax ⓘ | 8 | 73 | 36 | 28 | 46 | 44 | 131 | 65 | 59 | 91 |
| Profit After Tax | 39 | 60 | 135 | 91 | 115 | 112 | 274 | 248 | 166 | 267 |
| PAT Margin (%) | 1.3% | 1.8% | 3.2% | 2.1% | 2.4% | 2.1% | 4.9% | 3.9% | 2.3% | 3.3% |
| Adjusted EPS (₹) | 1.9 | 2.9 | 6.5 | 4.3 | 5.3 | 5.1 | 12.5 | 11.3 | 7.5 | 12.0 |
| Dividend Payout Ratio (%) | 50% | 72% | 45% | 67% | 56% | 86% | 63% | 52% | 81% | 50% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 221 | 231 | 349 | 366 | 805 | 904 | 1,022 | 1,109 | 1,441 | 1,572 |
| Share Capital ⓘ | 11 | 11 | 15 | 15 | 16 | 16 | 22 | 22 | 22 | 22 |
| Reserves ⓘ | 211 | 220 | 333 | 350 | 789 | 888 | 1,000 | 1,087 | 1,418 | 1,550 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 473 | 519 | 690 | 1,009 | 737 | 911 | 1,102 | 1,355 | 1,168 | 1,840 |
| Long Term Debt | 282 | 230 | 369 | 542 | 502 | 614 | 536 | 784 | 780 | 956 |
| Short Term Debt | 192 | 289 | 320 | 467 | 234 | 297 | 566 | 571 | 388 | 885 |
| Trade Payables | 109 | 137 | 170 | 171 | 178 | 142 | 140 | 147 | 184 | 188 |
| Others Liabilities ⓘ | 252 | 271 | 379 | 486 | 527 | 757 | 854 | 1,290 | 1,337 | 1,693 |
| Total Liabilities ⓘ | 1,056 | 1,157 | 1,588 | 2,032 | 2,246 | 2,714 | 3,117 | 3,901 | 4,131 | 5,293 |
Fixed Assets | ||||||||||
| Gross Block | 1,017 | 1,132 | 1,091 | 1,445 | 1,826 | 2,435 | 2,868 | 3,563 | 4,046 | 4,367 |
| Accumulated Depreciation | 385 | 485 | 100 | 228 | 418 | 679 | 939 | 1,153 | 1,431 | 1,600 |
| Net Fixed Assetsⓘ | 632 | 647 | 991 | 1,217 | 1,408 | 1,756 | 1,929 | 2,410 | 2,615 | 2,767 |
| CWIP ⓘ | 23 | 33 | 90 | 259 | 233 | 355 | 384 | 237 | 254 | 238 |
| Investmentsⓘ | 1 | 0 | 0 | 0 | 0 | 0 | 8 | 14 | 21 | 30 |
| Inventories | 259 | 347 | 297 | 384 | 403 | 374 | 570 | 609 | 576 | 1,452 |
| Trade Receivables | 13 | 15 | 41 | 7 | 8 | 15 | 9 | 8 | 8 | 10 |
| Cash Equivalents | 24 | 29 | 55 | 33 | 36 | 45 | 39 | 40 | 42 | 53 |
| Others Assetsⓘ | 105 | 86 | 113 | 132 | 157 | 171 | 177 | 584 | 615 | 742 |
| Total Assets ⓘ | 1,056 | 1,157 | 1,588 | 2,032 | 2,246 | 2,714 | 3,117 | 3,901 | 4,131 | 5,293 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 62 | 219 | 433 | 277 | 375 | 552 | 518 | 576 | 741 | -71 |
| PBT ⓘ | 47 | 134 | 172 | 119 | 161 | 156 | 364 | 275 | 225 | 358 |
| Adjustment ⓘ | 153 | 171 | 210 | 255 | 283 | 398 | 418 | 424 | 478 | 543 |
| Changes in Working Capital ⓘ | -128 | -54 | 89 | -65 | -35 | 23 | -169 | -17 | 103 | -848 |
| Tax Paid ⓘ | -11 | -33 | -37 | -31 | -35 | -25 | -95 | -106 | -64 | -124 |
| Cash Flow From Investing Activity ⓘ | -124 | -134 | -569 | -523 | -343 | -537 | -418 | -565 | -441 | -388 |
| Capex | -125 | -135 | -571 | -526 | -342 | -540 | -413 | -570 | -434 | -386 |
| Net Investments | 0 | 1 | 0 | 0 | 0 | 0 | -8 | -5 | -6 | -8 |
| Others ⓘ | 0 | 1 | 2 | 3 | 0 | 3 | 3 | 10 | 0 | 5 |
| Cash Flow From Financing Activityⓘ | 76 | -79 | 162 | 223 | -31 | -7 | -106 | -8 | -300 | 474 |
| Net Proceeds from Shares ⓘ | 30 | 0 | 0 | 0 | 418 | 105 | 0 | 0 | 297 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -63 | -66 | -70 | -84 | -84 | -102 | -114 | -108 | -128 | -118 |
| Dividend Paid ⓘ | -7 | -56 | -18 | -61 | -94 | -116 | -129 | -129 | -129 | -134 |
| Others ⓘ | 116 | 44 | 251 | 367 | -272 | 106 | 137 | 229 | -340 | 725 |
| Net Cash Flow ⓘ | 13 | 6 | 26 | -23 | 1 | 8 | -7 | 3 | 0 | 14 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 19.61 | 26.89 | 46.81 | 25.44 | 19.63 | 13.14 | 28.41 | 23.31 | 13.01 | 17.74 |
| ROCE (%) | 14.7 | 23.31 | 22.3 | 14.07 | 14.12 | 13.33 | 22.58 | 15.99 | 12.29 | 15.21 |
| Asset Turnover Ratio | 3.09 | 3.12 | 3.06 | 2.37 | 2.23 | 2.14 | 1.9 | 1.82 | 1.8 | 1.7 |
| PAT to CFO Conversion(x) | 1.59 | 3.65 | 3.21 | 3.04 | 3.26 | 4.93 | 1.89 | 2.32 | 4.46 | -0.27 | Working Capital Days |
| Receivable Days | 2 | 1 | 2 | 2 | 1 | 1 | 1 | 0 | 0 | 0 |
| Inventory Days | 22 | 32 | 28 | 29 | 30 | 27 | 31 | 34 | 30 | 46 |
| Payable Days | 17 | 18 | 18 | 20 | 19 | 16 | 14 | 12 | 12 | 12 |
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:
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