Hatsun Agro Product Ltd excels in Q4 and FY 2023-24 financials
Disruptions caused by COVID impacted milk procurement in the second half of FY 2022-23 and the first half of FY 2023-24
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Hyderabad: Hatsun Agro Product Ltd, a leading private sector dairy company in India, revealed its financial performance for the fourth quarter and fiscal year ending 31st March 2024.
In Q4 FY 24 compared to Q4 FY 23, revenue from operations increased by 14.38% to Rs.2046.87 crores, EBITDA grew by 46.64% to Rs.231.77 crores, PBT rose by 115.59% to Rs.70.89 crores, and PAT surged by 108.76% to Rs.52.16 crores. Milk procurement witnessed a 39.04% growth in FY 24 over FY 23.
For FY 24 versus FY 23, revenue from operations grew by 10.26% to Rs.7990.40 crores, EBITDA increased by 29.43% to Rs.921.56 crores, PBT surged by 59.37% to Rs.357.89 crores, and PAT rose by 61.15% to Rs.267.29 crores. Milk procurement in FY 24 saw a growth of 20.30%.
Disruptions caused by COVID impacted milk procurement in the second half of FY 2022-23 and the first half of FY 2023-24. However, normalcy returned in the latter half of 2023-24 for both milk procurement and sales.
Mr. RG Chandramogan, Chairman of Hatsun Agro Product Ltd, expressed satisfaction with the growth in milk procurement and revenues in Q4 and FY 2023-24. Strong domestic sales recovery post-COVID, particularly during the summer, contributed to increased sales volume. HAP's retail expansion over the past two years facilitated market penetration in new regions like Maharashtra, Orissa, West Bengal, and Madhya Pradesh, while strengthening existing bases in South India. HAP invested approximately Rs.550 crores in the last financial year across new manufacturing facilities and market assets to support sales plans for FY 2024-25. Significant investments were also made to enhance distribution, sales, and marketing efforts.
Hatsun Agro Product Ltd continues to explore exporting ice creams to various countries.
HAP is a leading private sector dairy player in India, procuring milk from around 4,00,000 farmers. Its portfolio includes Arun Icecreams, Arokya Milk & Milk products, Hatsun Dairy Products, ibaco, Aniva, HAP Daily, Hanobar Chocolates, Havia, and Santosa.
