Shares of this midcap company jumped up to around 1 percent in Monday’s trading session after announcing the entry into the Fruit Juice Segment. In one year, the shares have delivered more than 25 percent returns to its shareholders.
With a market capitalization of Rs. 25,037 crores, the shares of Hatsun Agro Product Ltd started Tuesday’s trading session on a flatter note at Rs. 1,129. During the trading session, the shares hit a high of Rs. 1,134, gaining around 1 percent and are currently trading at Rs. 1,123 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that the company is foraying into the “100% Fruit Juice Segment” with the brand name “Imiyo” commencing the commercial production.
Furthermore, the company intends to distribute this “Imiyo Juice product through its Milk, Curd and other Fresh Dairy products distribution network.
Looking at the company’s financial statements, the revenue decreased marginally by around 1 percent from Rs. 1,905 crores during the September quarter to Rs. 1,887 crores in the December quarter. On the other hand, the net profits declined by 26 percent from Rs. 78 crores to Rs. 57 crores during the same timeframe.
Due to increasing expenditure, the profitability metrics of the company declined with the return on equity (RoE) decreasing from 20.46 percent during FY 21-22 to 13.01 percent in FY 22-23, and, the return on capital employed (RoCE) showed a downward movement from 13.62 percent to 11.05 percent during the same timeframe. Furthermore, the net profit margin decreased from 3.42 percent during FY 21-22 to 2.29 percent during FY 22-23.
According to the latest shareholding pattern, the Promoters have 62.90 percent of stakes, 6.45 percent of shares are with the FIIs, DII hold 16.17 percent of shares and the remaining 14.48 percent of shares are with the Retail Investors.
Headquartered in Chennai, Hatsun Agro Product was incorporated in 1986. The company has been in business for over 5 decades and achieved the position of the largest private-sector industry in the Dairy sector manufacturing and marketing Milk and Milk products, ice cream, etc.
Written By Vaibhav Patil
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
