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Hatsun Agro Product Results: Latest Quarterly Results & Analysis

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Hatsun Agro Products Ltd. 19 May 2026 18:28 PM
Result PDF

Q4FY26 & FY26 Result Announced for Hatsun Agro Products Ltd.

Packaged Foods company Hatsun Agro Products announced Q4FY26 & FY26 results

Financial Highlights:

  • Revenue from Operations:
    • For Q4FY26, the company reported revenue of Rs 2,577.63 crore, representing an increase of 9.05% QoQ compared to Rs 2,363.72 crore in Q3FY26 and an increase of 17.01% YoY from Rs 2,242.85 crore in Q4FY25.
    • For the full year ended March 31, 2026 (FY26), revenue stood at Rs 9,959.22 crore, marking a growth of 14.48% YoY compared to Rs 8,699.76 crore in FY25.
  • Total Income:
    • Total income for Q4FY26 was Rs 2,580.21 crore, up 9.02% QoQ from Rs 2,366.68 crore and up 14.61% YoY from Rs 2,251.37 crore.
    • On an annual basis, total income for FY26 reached Rs 9,972.94 crore, an increase of 14.38% YoY compared to Rs 8,719.32 crore in FY25.
  • EBITDA
    • EBITDA for the quarter was Rs 237.87 crore.
    • EBITDA for the year was Rs 1,190.34 crore as against Rs 1,029.67 crore in the previous year, registering a growth of 15.60%.
  • Profit Before Tax (PBT):
    • The company posted a PBT of Rs 59.77 crore in Q4FY26, which is a decline of 24.26% QoQ from Rs 78.92 crore in Q3FY26, but an increase of 2.08% YoY from Rs 58.55 crore in Q4FY25.
    • For the full year FY26, PBT stood at Rs 470.46 crore, marking a significant growth of 24.69% YoY from Rs 377.30 crore in FY25.
  • Net Profit (Profit after Tax):
    • Net profit for Q4FY26 was Rs 50.89 crore, representing a decrease of 16.00% QoQ compared to Rs 60.58 crore in Q3FY26, but an increase of 18.32% YoY from Rs 43.01 crore in Q4FY25.
    • For the full year FY26, net profit grew by 27.76% YoY to reach Rs 356.20 crore, compared to Rs 278.81 crore in FY25.
  • Total Comprehensive Income:
    • Total comprehensive income for Q4FY26 was Rs 50.26 crore, compared to Rs 65.22 crore in Q3FY26 and Rs 43.26 crore in Q4FY25.
    • On an annual basis, total comprehensive income for FY26 was Rs 360.60 crore, a growth of 29.27% YoY from Rs 278.96 crore in FY25.
  • Earnings Per Share (EPS):
    • Basic and Diluted EPS for Q4FY26 stood at Rs 2.28, compared to Rs 2.72 in Q3FY26 and Rs 1.93 in Q4FY25.
    • For the full year FY26, EPS was Rs 15.99, an increase from Rs 12.51 in FY25.

Business Highlights

  • Segment Performance: The company reported that its operations are evaluated and resource allocation are based on a single operating segment, namely "milk and milk products." Consequently, separate segment-wise information has not been disclosed.
  • Dividend Declaration: The Board of Directors declared an interim dividend of Rs 10.00 per equity share (1000%) on the fully paid-up equity shares for the financial year 2026-27. The record date for the dividend payment is May 26, 2026.
  • Corporate Amalgamation: The wholly-owned subsidiary, Milk Mantra Dairy Private Limited, was merged with Hatsun Agro Product Limited with an appointed date of April 1, 2025, following the National Company Law Tribunal (NCLT) order dated March 10, 2026.
  • Impact of Labour Codes: The implementation of new legislative Labour Codes led to a revised provision for defined benefit obligations, resulting in an employee benefit expense of Rs 0.81 crore in the current quarter and Rs 10.23 crore for the full year ended March 31, 2026.
  • Auditor Appointments: M/s. Ramachandran & Associates were appointed as the Cost Auditors for the financial year 2026-27.
  • Committee Reconstitution: The Board reconstituted its Audit Committee, Nomination and Remuneration Committee, and Stakeholders’ Relationship Committee effective May 19, 2026.

R G Chandramogan, Chairman, Hatsun Agro Product, said, “Our focus on operational efficiency has successfully reduced our debt-to-equity ratio from 1.44 in FY24 to 0.68 in FY26 in two years, despite significant investments and also strategic acquisitions. This strengthened financial position provides the company with the flexibility to invest in future projects while continuing to reward our stakeholders.

He also mentioned that the receivables as of 31st March 2026 stood at 0.17 days of sales as a benchmark to the industry, allowing profitability with better liquidity.

Further, HAP’s long-term credit rating has been upgraded to AA (Stable) by the credit rating agency (CRISIL Ratings Limited), reflecting the Company’s consistent financial performance, prudent capital management, and strong operational efficiency.

He also added, “Hatsun remains an industry outlier, delivering superior operating profits with efficiency. This success is driven by our market-leading consumer brands, namely, Arun, ibaco, Arokya, Hatsun, HAP Daily and Milky Moo. In line with our policy of providing consistent, uninterrupted dividends for over two decades and the present reduced debt with potential to invest for the future, we are pleased to announce a record interim dividend of 1000%."

Result PDF

Result PDF

Packaged Foods company Hatsun Agro Products announced Q3FY26 results

  • Revenue from Operations: Rs Rs 2,363.72 crore against Rs 2,009.75 crore during Q3FY25, change 17.61%.
  • Profit After Tax: Rs Rs  60.58 crore against Rs 40.94 crore during Q3FY25, change 47.97%.

R. G. Chandramogan, Chairman, Hatsun Agro Product, said: “Our performance reflects the strong foundation we have built over the years and our disciplined approach to growth. We continued to strengthen our core dairy portfolio while expanding our presence across priority markets. A consistent focus on efficiency across the value chain from farmer engagement to last-mile distribution has helped us maintain quality and freshness. Strong consumer demand drove volume growth across milk, yoghurt, and ice cream, supported by encouraging traction in innovation-led dairy offerings aligned with evolving consumer preferences”

“Our growth is driven by distribution reach, capacity additions, and sustained investments in sales and brand building, enabling us to scale our brands with clarity and purpose.”

Result PDF

Packaged Foods company Hatsun Agro Products announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Revenue from Operations: Grew by 14.38% from Rs 1,789.46 crore in Q4FY23 to Rs 2,046.87 crore in Q4FY24.
  • EBITDA: Increased by 46.64% to Rs 231.77 crore in Q4FY24 up from Rs 158.05 crore in Q4FY23.
  • Profit Before Tax (PBT): Jumped by 115.59% to Rs 70.89 crore in Q4FY24 from Rs 32.88 crore in Q4FY23.
  • Profit After Tax (PAT): Expanded by 108.76% to Rs 52.16 crore in Q4FY24, compared to Rs 24.99 crore in Q4FY23.
  • Procurement of milk registered a growth of 39.04% in Q4FY24 over FY23

FY24 Financial Highlights:

  • Revenue from Operations: Increased by 10.26% to Rs 7,990.40 crore in FY24 from Rs 7,246.97 crore in FY23.
  • EBITDA: Grew by 29.43% to Rs 921.56 crore in FY24 against Rs 712.00 crore in FY23.
  • Profit Before Tax (PBT): Rose by 59.37% to Rs 357.89 crore in FY24 compared to Rs 224.56 crore in FY23.
  • Profit After Tax (PAT): Showed a significant rise of 61.15% reaching Rs 267.29 crore in FY24 from Rs 165.86 crore in FY23.
  • Milk procurement increased by 20.30% compared to FY23

Commenting on the results, RG Chandramogan, Chairman, Hatsun Agro Product Ltd said; “We are happy to report good growth in procurement of milk and revenues both in Q4FY24 and for the full FY 2023-24. Strong sales recovery in the domestic market post Covid with good summer sales 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 crore 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”.


     

Result PDF

Hatsun Agro Products announced Q2FY23 results:

  • Q2FY23 Revenues up by 7.35% and H1FY23 Revenues up by 18.81%
  • Q2FY23 PAT down by 48.25% and H1FY23 PAT down by 32.75%
  • FY23 Vs FY22:
    • Sales registered in Q2FY23 was Rs.1747.72 crore as against Rs.1627.99 crores in Q2FY 22 registered a growth of 7.35%
    • Sales registered in H1FY23 was Rs.3762.33 crore as against Rs.3166.77 crore in H1FY22 registered a growth of 18.81%
    • PAT in Q2FY23 was Rs.42.48 crore as against Rs.82.09 crore in Q2FY22 registering a decline of 48.25%
    • PAT in H1FY23 was Rs.94.43 crore as against Rs.140.04 crore in H1FY22 registering a decline of 32.75%

Mr. R G Chandramogan, Chairman, of Hatsun Agro Product Ltd said, “the price increase of milk has been effected only from August 12th, 2022 and hence the benefit has been realised partially in this quarter. The benefit of cost increase will be realised in full in the quarters to come. Further, the sales growth recorded for the half year i.e., from April-September for the FY 2022 - 23 period was about 18.81% though Q2 of FY 2022 - 23 growth was only at 7.35%. The reason for Q1 FY 2022 - 23 growth at about 31% when compared with the previous year's Q1 revenue was due to the normal ice cream sales in the Q1 for FY 2022 - 23 and the poor ice cream sales in the Q1 FY 2021 - 22 on account of COVID situation; Also, the Q2 (FY 2022 - 23) procurement and sales got affected due to unprecedented rains in Q2 of FY 2022-23”.

Result PDF

Packaged Foods company Hatsun Agro Products Announced Q1FY23 Result :

  • HAP recorded a turnover of Rs.2014 crores crossing the 2000 crores mark in a quarter for the first time in Q1 FY 2023
  • HAP becomes the 1° private sector dairy company to cross the 2000 crores sales mark in a quarter™
  • Q1 FY 23 Revenues up by 31%

Commenting on the results, Mr. RG Chandramogan, Chairman, Hatsun Agro Product Ltd said; “we are happy to report good growth in revenues and crossing 2000 crores sales mark for the first time in a quarter. Strong sales recovery in the domestic market post Covid with good summer sales led to highest ever quarterly sales volume. All our business segments 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.450 crores across new manufacturing facilities for capacity expansion in Ice Cream, Milk, Curd, Milk Products and Cattle Feed. The new capacities will further support our sales plans for FY 2022-23. Considerable investments have also been made to strengthen distribution, sales and marketing of our brands.

 

Result PDF

Highlights:

  • Q2 FY 22 Revenues up by 23.24% and H1 FY 22 Revenues up by 22.02%
  • Q2 FY 22 PAT up by 24.79% and H1 FY 22PAT up by 15.20%
  • Sales registered in Q2 FY 22 was Rs.1635.41 crores as against Rs.1326.99 crores in Q2 FY 21 registered a growth of 23.24% 
  • Sales registered in H1 FY 22 was Rs.3180.12 crores as against Rs.2606.27 crores in H1 FY21 registered a growth of 22.02%
  • PAT in Q2 FY 22 was Rs.82.09 crores as against Rs.65.79 crores in Q2 FY 21 registered a growth of 24.79%
  • PAT in H1 FY 22 was Rs.140.42 crores as against Rs.121.89 crores in H1 FY 21 registered a growth of 15.20%

Commenting on the results, Mr. RG Chandramogan, Chairman, Hatsun Agro Product Ltd said; “we are happy to report a decent growth in revenues albeit little shorter to our expectations, due to unprecedented Monsoon exceeding more than 10% from the normal, in the last few months, in the entire South India and Maharashtra. These Markets account for 95% of our business. 

We are investing about Rs.450 Crores in our business across new manufacturing facilities to expand capacities in Ice Cream, Milk, Curd, Milk Products and Cattle Feed and also in distribution, Sales and Marketing before the end of FY 2022. We will have enough capacities in all our Divisions for FY 2022-23”.

 

Result PDF

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