MarketFriction

Hatsun Agro Product Ltd

NSE HATSUN · BSE 531531 · Dairy Products
₹1,118.10 +1.74%
NSE close2026-10-01
52 week range855.30 - 1,349.70
Market cap₹24,496 Cr.
P/E67.0
Price band 20% Delivery 46.1%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,9051,8872,0472,3752,0722,0102,2432,5352,3812,3642,5783,090
Expenses1,6871,6751,8172,0451,8311,7962,0182,1652,0512,1082,3422,740
Operating Profit219213230330241214224370331256235351
OPM %11%11%11%14%12%11%10%15%14%11%9%11%
Other Income1442272934333
Interest323850464543484337333232
Depreciation100102111111116117127129136146146151
Profit before tax10177711768856592011627960171
Tax %23%25%26%26%26%26%27%26%26%23%15%22%
Net Profit7857521316441431481206151134
EPS in Rs3.482.582.345.862.891.841.936.655.402.722.286.00
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3,4454,1984,2874,7605,3085,5516,3707,2477,9908,7009,95910,413
Expenses3,1403,8203,9164,3124,7584,7495,6496,5467,0917,6908,7839,241
Operating Profit3053783724485508027217018991,0101,1771,172
OPM %9%9%9%9%10%14%11%10%11%12%12%11%
Other Income578-19-22-211123201412
Interest68708886106108107126154182146134
Depreciation107143174201296295311362409470574579
Profit before tax134172119161156377283225358377470471
Tax %55%21%23%29%28%35%23%26%25%26%24%
Net Profit6013591115112246218166267279356365
EPS in Rs2.726.084.085.155.0411.069.787.4512.0012.5215.9916.40
Dividend Payout %72%45%67%56%58%70%59%81%50%48%38%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth11%12%11%18%
Compounded Profit Growth20%7%30%23%
Stock Price CAGR16%-5%-1%20%
Return on Equity19%17%18%19%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital111115151616222222222222
Reserves2112203333507898881,0001,0871,4181,5501,6951,922
Borrowings6146729191,2991,0281,4341,6221,9391,7932,6982,5701,838
Other Liabilities220255320367413376474494472464577660
Total Liabilities1,0561,1571,5882,0322,2462,7143,1173,5423,7064,7354,8654,443
Fixed Assets6326479911,2171,4081,7561,9292,4102,6152,7673,2743,505
CWIP23339025923335538423725423828459
Investments10000081421303743
Other Assets3994775065566056047958818161,6991,270835
Total Assets1,0561,1571,5882,0322,2462,7143,1173,5423,7064,7354,8654,443
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity62219433277375552518576741-711,4501,557
Cash from Investing Activity-124-134-569-523-343-537-418-565-441-388-879-435
Cash from Financing Activity76-79162223-31-7-106-8-300474-564-1,130
Net Cash Flow13626-2318-730147-8
Free Cash Flow-6383-138-24933121057307-4578051,126
CFO/OP37%82%124%83%91%105%76%95%115%6%155%143%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days224111100000
Inventory Days435136454436555041946031
Days Payable182020201914131213121517
Cash Conversion Cycle273219262524423928834514
Working Capital Days-24-24-41-55-3010-43-37-24-14-31-26
ROCE %14%23%22%14%15%13%21%15%11%13%13%15%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters73.11%73.11%73.15%73.17%73.17%73.17%73.17%73.17%73.17%73.17%73.17%73.17%
FIIs3.04%2.90%2.86%2.82%3.29%3.38%3.40%3.39%3.26%3.20%3.13%3.13%
DIIs9.54%9.70%9.81%9.82%10.17%9.99%10.08%10.22%10.36%10.28%10.26%10.25%
Public14.32%14.28%14.18%14.20%13.38%13.45%13.35%13.23%13.20%13.35%13.43%13.46%
No. of Shareholders26,36526,38225,54127,00626,40437,67736,66531,25634,72728,73428,17928,463

Fundamentals

Market Cap₹ 24,496 Cr.
Current Price₹ 1,100
Stock P/E67.0
Book Value₹ 87.3
ROCE15.2 %
ROE19.2 %
Dividend Yield0.91 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)18%
Compounded Profit Growth (TTM)23%
Standalone figures.
Valuation
Market capRs 24,905 Cr
Enterprise valueRs 26,693 Cr
P/E (TTM)68.17x
Price to book12.81x
Price to sales2.39x
EV / EBITDA22.53x
EV / EBIT44.09x
EV / sales2.56x
Price to cash flow16.00x
Earnings yield1.47%
Dividend yield0.54%
P/E, 3-year average73.02x
P/B, 3-year average12.47x
P/E, 5-year average87.29x
P/B, 5-year average14.18x
Profitability
Operating margin (excl. other income)11.81%
Operating margin (incl. other income)11.95%
EBITDA margin11.38%
Pre-tax margin4.52%
Net profit margin3.51%
Net margin, latest quarter4.33%
ROE19.45%
ROCE15.28%
ROA7.65%
ROE, 3-year average18.05%
ROCE, 3-year average14.00%
ROA, 3-year average6.60%
ROE, 5-year average17.52%
ROCE, 5-year average13.37%
ROA, 5-year average6.18%
ROIC (approx.)12.28%
Tax rate24.29%
Other income / net worth0.71%
Growth
Sales growth (latest year)14.48%
Profit growth (latest year)27.76%
Sales CAGR, 3 years11.18%
Sales CAGR, 5 years12.40%
Profit CAGR, 3 years29.02%
Profit CAGR, 5 years7.65%
Sales growth QoQ19.90%
Profit growth QoQ162.70%
Sales growth YoY (latest quarter)21.92%
Profit growth YoY (latest quarter)-9.72%
Per share
EPS (TTM)Rs 16.40
EPS (latest year)Rs 15.99
EPS (latest quarter)Rs 6.00
EPS, 3-year averageRs 13.50
EPS, 5-year averageRs 11.61
Book value per shareRs 87.30
Sales per shareRs 467.49
Cash flow per shareRs 69.88
Free cash flow per shareRs 50.55
Dividend per share (latest year)Rs 6.00
Dividend per share, 3-year averageRs 6.00
Dividend per share, 5-year averageRs 6.00
Dividends
Dividend payout37.53%
Dividend payout, 3-year average45.16%
Dividend payout, 5-year average55.09%
Efficiency
Asset turnover2.24x
Fixed asset turnover2.84x
Inventory turnover13.12x
Inventory days28 days
Debtor days0 days
Debtors turnover2087.89x
Creditor days17 days
Cash conversion cycle14 days
Working capital days-26 days
Leverage
Total debtRs 1,838 Cr
Cash and bankRs 51 Cr
Net debtRs 1,787 Cr
Debt to equity0.95x
Net debt / EBITDA1.51x
Interest coverage4.50x
Current ratio (filing 2026-03-31)0.52x
Quick ratio (filing 2026-03-31)0.09x
Trade payables (filing 2026-03-31)Rs 328 Cr
Owners' fund to total sources43.77%
Debt to assets41.38%
Cash flow
Cash from Operating Activity (latest year)Rs 1,557 Cr
Cash from Investing Activity (latest year)Rs -435 Cr
Cash from Financing Activity (latest year)Rs -1,130 Cr
Net Cash Flow (latest year)Rs -8 Cr
Free cash flow (latest year)Rs 1,126 Cr
FCFE (approx.: FCF + change in debt)Rs 394 Cr
Cash from ops / profit, 5 years3.31x
Sales to cash flow6.40x
Statement figures
Net sales (TTM)Rs 10,413 Cr
Net sales (latest year)Rs 9,959 Cr
Sales (latest quarter)Rs 3,090 Cr
Operating profit excl. other income (latest year)Rs 1,177 Cr
Operating profit (latest quarter)Rs 351 Cr
Other income (TTM)Rs 12 Cr
EBITDA (TTM)Rs 1,185 Cr
PBDT (TTM)Rs 1,050 Cr
Profit before tax (TTM)Rs 471 Cr
Tax (latest year)Rs 114 Cr
Net profit (TTM)Rs 365 Cr
Net profit (latest year)Rs 356 Cr
Net profit (latest quarter)Rs 134 Cr
Depreciation (TTM)Rs 579 Cr
Depreciation (latest quarter)Rs 151 Cr
Interest (TTM)Rs 134 Cr
Cost of goods sold (latest year)Rs 7,762 Cr
Total expenditure (latest year)Rs 8,783 Cr
Total income (latest year)Rs 9,973 Cr
Share capitalRs 22 Cr
ReservesRs 1,922 Cr
Shareholders' fundsRs 1,945 Cr
Total assetsRs 4,443 Cr
Net blockRs 3,505 Cr
Capital work in progressRs 59 Cr
InvestmentsRs 43 Cr
ReceivablesRs 5 Cr
InventoryRs 591 Cr
Other liabilitiesRs 660 Cr
Shares outstanding (crore)22.27
Ownership
Promoter holding73.17% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 68.2 is at the 10th percentile of its own 9.4-year range (median 96.9, low 51.9, high 170.5).
P/B 12.81 is at the 19th percentile (median 17.50).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodHATSUNNifty 50Difference
1 week-1.4%-2.8% +1.3 pts
1 month-5.1%-6.8% +1.7 pts
3 months+23.2%-7.6% +30.8 pts
6 months+21.1%+0.4% +20.7 pts
1 year+25.0%-9.9% +34.9 pts
2 years-6.0%-13.6% +7.5 pts
3 years-2.5%+14.2% -16.7 pts
5 years-21.5%+27.9% -49.4 pts
14 mutual fund schemes hold about ₹2,912 Cr. Over three months 3 bought more and 2 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI Focused Fund2.14%1,095 -3%
SBI Midcap Fund1.46%357 +4%
SBI Midcap Fund1.46%355 +4%
SBI Small Cap Fund0.82%350 -1%
SBI Children's Fund-Investment Plan4.25%330 -6%
SBI Large & Midcap Fund0.54%228 +1%
SBI Conservative Hybrid Fund(Q0.89%91 +5%
Nippon India Small Cap Fund0.08%67 -13%
Mahindra Manulife Multi Cap Fund0.19%15 +100%
SBI LT Advantage Fund-VI-4.08%11 +3%
PGIM India Small Cap Fund0.59%11 +100%
SBI Children's Fund-Savings Plan1.60%2 +2%
AlphaGrep Flexi Cap Fund0.12%0 +100%
Motilal Oswal BSE 1000 Index Fund0.03%0 +5%

Red flags

F-score 8 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-03-25Dr. Archana NarayanaswamyDirectorsell8,207Rs 0.77 CrMarket Sale
2026-03-25V V V AND SONS EDIBLE OILS LIMITEDOtherbuy11,000Rs 1.04 CrMarket Purchase
2026-02-04Dr. Archana NarayanaswamyDirectorsell1,000Rs 0.09 CrMarket Sale
2025-08-12V V V AND SONS EDIBLE OILS LIMITEDOtherother850,000Rs 35.00 CrPledge Creation
2025-06-12Dr. Archana NarayanaswamyDirectorsell1,353Rs 0.14 CrMarket Sale
2025-06-04Dr. Archana NarayanaswamyDirectorsell10,000Rs 0.98 CrMarket Sale
2025-05-19Dr. Archana NarayanaswamyDirectorsell5,614Rs 0.51 CrMarket Sale
2025-05-13Dr. Archana NarayanaswamyDirectorsell6,156Rs 0.56 CrMarket Sale
2024-08-09V V V AND SONS EDIBLE OILS LIMITEDOthersell1,337,000Rs 162.95 CrMarket Sale
2024-08-09R THENSUBHAImmediate relativesell250,000Rs 30.47 CrMarket Sale
2024-08-09K S T MADHUMATHIImmediate relativesell50,000Rs 6.09 CrMarket Sale
2024-08-09VIDHYA THANARAJANImmediate relativesell50,000Rs 6.09 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹3,090 Cr +21.9% vs Jun 2025. Net profit ₹134 Cr -9.5%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-05-26Interim Dividend - Rs 10 Per Share
2025-07-24Interim Dividend - Rs 6 Per Share
2024-08-26Annual General Meeting
2024-07-24Interim Dividend - Rs 6 Per Share
2023-09-01Annual General Meeting
2023-07-27Interim Dividend - Rs 6 Per Share
2022-12-07Rights 1:30 @ Premium Rs 418/-
2022-09-15Annual General Meeting
2022-07-26Interim Dividend - Rs 6 Per Share
2021-08-27 Annual General Meeting
2021-07-22 Interim Dividend - Rs 6 Per Share
2020-12-09 Bonus 1:30.7500
2020-09-21 Annual General Meeting
2020-07-28 Interim Dividend - Rs 4 Per Share Special Dividend Rs 4 Per Share
2020-03-17 Interim Dividend - Rs 2 Per Share
2019-08-27 Annual General Meeting
2019-07-25 Interim Dividend - Rs 2 Per Share
2019-05-09 Interim Dividend - Rs 2 Per Share
2019-01-31 Interim Dividend - Rs 2 Per Share
2018-09-04 Annual General Meeting
2018-05-31 Interim Dividend- Rs 3 Per Share / Rights 1:16 @ Premium Rs 554 Per Share
2017-07-20 Annual General Meeting/Interim Dividend - Re 1/- Per Share (Purpose Revised)
2017-05-05 Interim Dividend Rs 3/- Per Share
2016-08-12 Annual General Meeting/ Interim Dividend - Re 1/- Per Share (Purpose Revised)
2016-07-13 Bonus 2:50.7143
2016-03-22 Interim Dividend - Rs 1.50/- Per Share (Purpose Revised)
2015-10-23Second Interim Dividend Re.1/- Per Share (Purpose Revised)
2015-08-24Annual General Meeting
2015-07-20Interim Dividend - Rs 1.50/- Per Share (Purpose Revised)
2015-06-04Second Interim Dividend - Rs 1.20 Per Share (Purpose Revised)
2015-01-29Interim Dividend - Re 0.60/- Per Share (Purpose Revised)
2014-08-04Annual Book Closure
DateTypeWhat it says
2026-09-28Press ReleaseA press release dated September 28, 2026, titled "Press release on Hatsun Agro Product Limited partners with Government of Odisha and State Bank of In...
2026-09-26Shareholder meetingVoting results.
2026-09-25Shareholder meetingProceedings of Annual General Meeting held on September 25, 2026
2026-09-11General UpdatesESG Ratings assigned by CRISIL ESG Ratings & Analytics Limited
2026-09-03General UpdatesDispatch of letter to members as per Regulation 36(1)(b) of the SEBI (LODR) Regulations
2026-09-02General UpdatesHatsun Agro Product Limited has informed the Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26
2026-09-02Record DateBook Closure for the purpose of 41st AGM from 24th September, 2026 to 25th September, 2026
2026-09-02Shareholder meetingNotice of Annual General Meeting to be held on September 25, 2026
2026-08-17Press ReleaseA press release dated August 17, 2026, titled "Press Release on Arun Icecreams Debuts at New York India Day Parade as US Presence Grows".
2026-08-06Concall / analyst meetSchedule of meet
2026-08-05Press ReleaseA press release dated August 05, 2026, titled "Hatsun Agro Product plans ₹1000 crore capex in FY27 to enhance Production".
2026-07-21Press ReleaseA press release dated July 21, 2026, titled "Press Release on Unaudited Financial Results for the quarter ended 30" June, 2026".
2026-07-21Board meeting outcomeHatsun Agro Product Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-05-29UpdatesE-mail communication to the members of Hatsun Agro Product Limited - Deduction of TDS on 1st Interim Dividend for the year 2026-27.
2026-05-19AppointmentAppointment of Mr Ramachandran & Associates as Cost Auditor of the company w.e.f. April 01, 2026.
2026-05-19Record DateRecord date for the purpose of Interim Dividend is 26-May-2026.
2026-05-19DividendBoard of Directors at its meeting held on May 19, 2026, declared Interim Dividend of Rs. 10 per equity share.
2026-05-19Press ReleaseA press release dated May 19, 2026, titled "Press Release on Audited Financial Results for the quarter and year ended 31st March, 2026".
2026-05-19Board meeting outcomeHatsun Agro Product Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-15Shareholder meetingVoting results.
2026-05-15AppointmentAppointment of Mr Rajprabu Harshan as Non- Executive Independent Director of the company w.e.f. April 10, 2026.
2026-04-13Shareholder meetingNotice of Postal Ballot
2026-04-10AppointmentAppointment of Mr Rajprabu Harshan as Non- Executive Independent Director of the company w.e.f. April 10, 2026.
2026-04-10Board meeting outcomeOutcome of Board Meeting held on April 10, 2026.
2026-04-07Disclosure under SEBI TakeovRG Chandramogan has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial A...
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Hatsun Agro Product Ltd?

Hatsun Agro Product Ltd (HATSUN) has a market capitalisation of Rs 24,496 Cr. at the 2026-10-01 close.

What is the P/E ratio of Hatsun Agro Product Ltd?

Hatsun Agro Product Ltd trades at a P/E of 67.0 on trailing twelve-month profit, at the 2026-10-01 close.

What were Hatsun Agro Product Ltd's latest quarterly results?

In the Jun 2026 quarter, Hatsun Agro Product Ltd sales was Rs 3,090 Cr (+21.9% vs Jun 2025) and net profit was Rs 134 Cr.

What is the 52-week high and low of Hatsun Agro Product Ltd?

The 52-week high is Rs 1,349.70 and the 52-week low is Rs 855.30.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03