Synopsis:
Hatsun Agro Product Limited, an FMCG stock, reports 17.18% YoY revenue growth and a 71.88% YoY net profit surge in Q2 FY26 results.

This Small-cap FMCG stock, engaged in the business of procuring, processing, and marketing milk, milk products, and ice cream across India and internationally, hit a 20 percent upper circuit after the company reported September quarterly results with a 71.88 percent YoY increase in net profit.

With a market capitalization of Rs. 23,995.56 crores, the shares of Hatsun Agro Product Limited hit a 20 percent upper circuit of Rs. 1,081.35 per share on Monday, up from its previous closing price of Rs. 901.15 per share. Since then, the stock has retreated and is currently trading at Rs. 1,077.25 per equity share. 

Q2 FY26 Result Walkthrough

Coming into the quarterly results of Hatsun Agro Product Limited, the company’s consolidated revenue from operations increased by 17.18 percent YOY, from Rs. 2,072 crore in Q2 FY25 to Rs. 2,428 crore in Q2 FY26, and decreased by 6.25 percent QoQ from Rs. 2,590 crore in Q1 FY26.

In Q2 FY26, Hatsun Agro Product Limited’s consolidated net profit increased by 71.88 percent YOY, reaching Rs. 110 crore compared to Rs. 64 crore during the same period last year. As compared to Q1 FY26, the net profit has decreased by 18.52 percent, from Rs. 135 crore.

The basic earnings per share increased by 70.24 percent and stood at Rs. 4.92 as against Rs. 2.89 recorded in the same quarter in the previous year, FY2025. Hatsun Agro Product Limited’s standalone revenue and net profit have grown at a CAGR of 10.3 percent and 20.54 percent, respectively, over the last five years.

In terms of return ratios, the company’s ROCE and ROE stand at 12.9 percent and 16.7 percent, respectively. Hatsun Agro Product Limited has an earnings per share (EPS) of Rs. 14.8, and its debt-to-equity ratio is 1.10x.

Company Overview

Hatsun Agro Product Limited was established in 1970 by R. G. Chandramogan and is headquartered in Chennai, Tamil Nadu. The company is one of India’s leading private dairy companies. The company is renowned for its extensive portfolio that includes milk, curd, paneer, cheese, ghee, and a wide range of ice creams under flagship brands like Arokya, Arun Icecreams, Hatsun, and Ibaco.​

Hatsun Agro primarily engages in the procurement of fresh milk directly from farmers, processing it at its state-of-the-art manufacturing facilities, and distributing quality dairy products to millions of households across India. 

Written By – Nikhil Naik

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