Share price of this mid-cap stock and India’s leading private sector dairy company, moved up by nearly 14.7 percent to Rs. 1,174.65 on BSE in the morning trading session of Tuesday, compared to its previous closing price of Rs. 1,023.7, after the company announced the financial results for Q4 FY23-24.
With a market capitalisation of Rs. 25,376.6 crores, at 11:10 a.m. the shares of Hatsun Agro Product Limited were trading in the green at Rs. 1,140, up by 11.4 percent on NSE.
The company has delivered positive returns of 36.2 percent in the last one year and nearly 0.41 percent of positive returns in the last six months. However, so far in 2024, it has given negative returns of around 0.7 percent.
The fluctuations in the share prices were observed after the company announced its financial results on Monday for Q4 FY23-24 and FY24, through the recent filing with the stock exchanges.
The revenue from operations in Q4 FY23-24 registered a growth of 14.4 percent on a year-on-year basis and stood at Rs. 2,046.87 crore as against Rs. 1,789.46 crore in Q4 FY22-23.
The company also reported a growth in the procurement of milk by 39.04 percent YoY in FY23-24 over FY22-23.
On a year-on-year basis, the net profit of the company increased by 109 percent, from Rs. 24.99 crore in Q4 FY22-23 to Rs. 52.16 crore in Q4 FY23-24.
On a quarterly basis, the revenue from operations of the company moved up by 8.5 percent from Rs. 1,887 crore in Q3 FY23-24 to Rs. 2,047 crore in Q4 FY23-24.
However, the profit after tax (PAT) decreased by 9.2 percent from Rs. 57.4 crore in Q3 FY23-24 to Rs. 52.1 crore in Q4 FY23-24.
Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) grew by 46.64 percent to Rs. 231.77 crores in Q4 FY23-24 as against Rs. 158.05 crores in Q4 FY22-23.
Additionally, 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, and the new capacities will further support the company’s sales plans for FY24-25.
As of March 2024, FIIs hold 2.86 percent of the shares, whereas DIIs hold 9.81 percent of the shares in the company, aggregating to 12.67 percent of the institutional holdings.
Hatsun Agro Product Limited is a leading private sector dairy player in India and procures milk from select fine-quality cattle collected directly from around 4 lakh farmers.
Written by Shivani Singh
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