The shares of this FMCG company engaged in the business of dairy manufacturing, processing and marketing of ice Creams, Milk and Milk products, jumped up to 2 percent upon approving the acquisition of a 100 percent stake in Milk Mantra Dairy Pvt Ltd for Rs. 233 crore.
Price Action
With a market capitalization of Rs 21,351.54, Hatsun Agro Products jumped 2 percent to a day’s high of Rs 976.45 today, compared to the previous closing price of Rs 954.80. The stock reiterated from its day’s high and was trading at Rs. 958.55 which is 0.39 percent higher than the previous closing price.
What Happened
Hatsun Agro Products (HAP) board of directors on 20th January 2025 has approved the acquisition of a 100 percent stake in Milk Mantra Dairy Pvt Ltd for Rs. 233 crore in Cash. The acquisition is in line with the HAP’s strategic intent of entering into new geographical markets. It opens opportunities in North Andhra Pradesh and potential markets like West Bengal and nearby states.
Milk Mantra Dairy has a paid-up share capital of Rs 4.77 crore, consisting of 31.69 lakh equity shares and 16.06 lakh compulsorily convertible preference shares, each with a face value of Rs 10. The company’s turnover as of FY24 stood at Rs. 276.24 crores and was consistent from FY22. They sell milk and its products with their premium brand named “MilkyMoo”.
About the Company
Hatsun Agro Product Limited, with over five decades of experience, has established itself as the largest private-sector player in the dairy industry. They are currently focusing on exports in smaller countries like Brunei and Seychelles for easier penetration. The company has a high and stable promoter holding of 73.17 percent.
Company Products
The company brands include Arun Icecreams, Arokya, Hatsun, HAP Daily, IBACO, Havia Chocolate, Hanover Chocolates, and others.
Written by Shwetha Sairam
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