Hatsun Agro Product Ltd (HAP) is a leading name in the Indian dairy industry, widely recognized for its extensive range of high-quality dairy products and its deep-rooted market presence, particularly in southern India. Established in 1970 by visionary entrepreneur R. G. Chandramogan, HAP operates from its headquarters in Chennai, Tamil Nadu. Over the decades, the company has carved a niche for itself with a diverse product portfolio that caters to a wide spectrum of consumer preferences. Notable brands under its umbrella include Arun Icecreams, offering an array of delightful ice cream flavors; Arokya, a trusted milk brand; Hatsun, which encompasses dairy essentials like milk, ghee, and butter; Ibaco, specializing in premium ice creams and sundaes; and Santosa, which focuses on nutritionally enriched dairy products. HAP’s commitment to innovation is reflected in its state-of-the-art processing facilities and stringent quality control measures, ensuring every product meets global standards.
In addition to its product excellence, HAP has developed a robust distribution network, making its offerings accessible to consumers across urban and rural regions. The company’s efforts extend beyond business, with a strong focus on sustainability and farmer welfare. HAP collaborates closely with dairy farmers, providing them with training, resources, and support to enhance milk quality and yield. Its environmentally friendly practices and community-oriented approach underline its dedication to responsible growth. Over the years, HAP has garnered significant accolades, including recognition as one of Asia’s fastest-growing dairy companies and the prestigious Golden Trophy from the Indian Government for being the largest dairy products exporter. These achievements underscore HAP’s pivotal role in shaping India’s dairy landscape.
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | |
| Promoters + | 73.11% | 73.11% | 73.15% | 73.17% | 73.17% |
| FIIs + | 3.04% | 2.90% | 2.86% | 2.82% | 3.29% |
| DIIs + | 9.54% | 9.70% | 9.81% | 9.82% | 10.17% |
| Public + | 14.32% | 14.28% | 14.18% | 14.20% | 13.38% |
| No. of Shareholders | 26,365 | 26,382 | 25,541 | 27,006 | 26,404 |
The shareholding pattern of Hatsun Agro Product Ltd from September 2023 to September 2024 highlights a stable and strategic ownership structure. The Promoters consistently held a majority stake, starting at 73.11% in September 2023 and slightly increasing to 73.17% by June and September 2024, showcasing their strong commitment to the company. Foreign Institutional Investors (FIIs) experienced minor fluctuations, beginning at 3.04% in September 2023, dipping to 2.82% by June 2024, and rising to 3.29% by September 2024. Meanwhile, Domestic Institutional Investors (DIIs) steadily increased their stake from 9.54% in September 2023 to 10.17% in September 2024, reflecting growing confidence among domestic institutions. The Public shareholding showed a slight decline from 14.32% in September 2023 to 13.38% in September 2024, indicating a consolidation of shares by institutional investors. Additionally, the number of shareholders varied, with a notable peak of 27,006 in June 2024, signifying increased investor interest during the period. This pattern underscores the robust confidence of both promoters and institutional investors in Hatsun Agro Product Ltd and its growth trajectory.
Below are the trading platforms that you can use to purchase Hatsun Agro Product shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| January 2025 | 1,094.49 | 841.91 |
| February 2025 | 1,105.54 | 850.42 |
| March 2025 | 1,128.76 | 868.28 |
| April 2025 | 1,117.59 | 859.68 |
| May 2025 | 1,085.03 | 834.64 |
| June 2025 | 1,133.86 | 872.20 |
| July 2025 | 1,111.63 | 855.10 |
| August 2025 | 1,146.01 | 881.54 |
| September 2025 | 1,159.76 | 892.12 |
| October 2025 | 1,189.91 | 915.32 |
| November 2025 | 1,219.66 | 938.20 |
| December 2025 | 1,274.55 | 980.42 |
As we step into January 2025, Hatsun Agro Product is expected to have a maximum price of ₹1,094.49 and a minimum of ₹841.91. Prices may gradually rise through the year, reaching ₹1,128.76 and ₹868.28 by March, ₹1,133.86 and ₹872.20 by June, and ₹1,159.76 and ₹892.12 by September. By December 2025, the price is projected to peak at ₹1,274.55 with a low of ₹980.42.
| When | Maximum Price | Minimum Price |
| January 2026 | 1,312.78 | 1,009.83 |
| February 2026 | 1,279.96 | 984.59 |
| March 2026 | 1,305.56 | 1,004.28 |
| April 2026 | 1,332.21 | 1,024.77 |
| May 2026 | 1,319.02 | 1,014.63 |
| June 2026 | 1,351.99 | 1,039.99 |
| July 2026 | 1,325.48 | 1,019.60 |
| August 2026 | 1,366.48 | 1,051.14 |
| September 2026 | 1,393.81 | 1,072.16 |
| October 2026 | 1,430.05 | 1,100.03 |
| November 2026 | 1,465.80 | 1,127.54 |
| December 2026 | 1,502.44 | 1,155.72 |
As we progress into January 2026, Hatsun Agro Product is anticipated to have a maximum price of ₹1,312.78 and a minimum of ₹1,009.83. The prices are expected to see fluctuations, reaching ₹1,305.56 and ₹1,004.28 by March, and ₹1,351.99 and ₹1,039.99 by June. By September 2026, the prices could climb to ₹1,393.81 and ₹1,072.16, and as we progress toward December 2026, the maximum price is projected to reach ₹1,502.44, with a minimum of ₹1,155.72.
| When | Maximum Price | Minimum Price |
| January 2027 | 1,517.47 | 1,167.28 |
| February 2027 | 1,556.38 | 1,197.21 |
| March 2027 | 1,617.07 | 1,243.90 |
| April 2027 | 1,585.37 | 1,219.51 |
| May 2027 | 1,539.19 | 1,183.99 |
| June 2027 | 1,608.45 | 1,237.27 |
| July 2027 | 1,576.92 | 1,213.01 |
| August 2027 | 1,625.69 | 1,250.53 |
| September 2027 | 1,682.59 | 1,294.30 |
| October 2027 | 1,726.33 | 1,327.95 |
| November 2027 | 1,769.49 | 1,361.15 |
| December 2027 | 1,813.73 | 1,395.18 |
| When | Maximum Price | Minimum Price |
| January 2028 | 1,850.00 | 1,423.08 |
| February 2028 | 1,897.44 | 1,459.57 |
| March 2028 | 1,971.44 | 1,516.49 |
| April 2028 | 1,932.78 | 1,486.76 |
| May 2028 | 1,876.49 | 1,443.45 |
| June 2028 | 1,960.93 | 1,508.41 |
| July 2028 | 1,922.48 | 1,478.83 |
| August 2028 | 1,981.94 | 1,524.57 |
| September 2028 | 2,051.31 | 1,577.93 |
| October 2028 | 2,104.64 | 1,618.95 |
| November 2028 | 2,157.26 | 1,659.43 |
| December 2028 | 2,211.19 | 1,700.91 |
| When | Maximum Price | Minimum Price |
| January 2029 | 2,255.41 | 1,734.93 |
| February 2029 | 2,313.24 | 1,779.42 |
| March 2029 | 2,403.46 | 1,848.82 |
| April 2029 | 2,356.33 | 1,812.56 |
| May 2029 | 2,287.70 | 1,759.77 |
| June 2029 | 2,390.65 | 1,838.96 |
| July 2029 | 2,343.77 | 1,802.90 |
| August 2029 | 2,416.26 | 1,858.66 |
| September 2029 | 2,500.83 | 1,923.72 |
| October 2029 | 2,565.85 | 1,973.73 |
| November 2029 | 2,630.00 | 2,023.08 |
| December 2029 | 2,695.75 | 2,073.65 |
| When | Maximum Price | Minimum Price |
| January 2030 | 2,749.66 | 2,115.13 |
| February 2030 | 2,820.17 | 2,169.36 |
| March 2030 | 2,930.15 | 2,253.96 |
| April 2030 | 2,872.70 | 2,209.77 |
| May 2030 | 2,789.03 | 2,145.41 |
| June 2030 | 2,914.54 | 2,241.95 |
| July 2030 | 2,857.39 | 2,197.99 |
| August 2030 | 2,945.76 | 2,265.97 |
| September 2030 | 3,048.86 | 2,345.28 |
| October 2030 | 3,128.13 | 2,406.26 |
| November 2030 | 3,206.34 | 2,466.41 |
| December 2030 | 3,286.49 | 2,528.07 |
As we reach January 2030, Hatsun Agro Product is expected to have a maximum price of ₹2,749.66 and a minimum of ₹2,115.13. By March, the prices could climb to ₹2,930.15 and ₹2,253.96, while June may see a maximum of ₹2,914.54 and a minimum of ₹2,241.95. Moving further, September is projected to touch ₹3,048.86 and ₹2,345.28, respectively. Finally, as we reach December 2030, the prices are anticipated to peak at ₹3,286.49 with a minimum of ₹2,528.07, marking steady growth throughout the year.
Financial Condition of Hatsun Agro Product
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 5,308 | 5,551 | 6,370 | 7,247 | 7,990 | 8,382 |
| Expenses + | 4,758 | 4,749 | 5,649 | 6,546 | 7,091 | 7,368 |
| Operating Profit | 550 | 802 | 721 | 701 | 899 | 1,014 |
| OPM % | 10% | 14% | 11% | 10% | 11% | 12% |
| Other Income + | 9 | -22 | -21 | 11 | 23 | 15 |
| Interest | 106 | 108 | 107 | 126 | 154 | 179 |
| Depreciation | 296 | 295 | 311 | 362 | 409 | 439 |
| Profit before tax | 156 | 377 | 283 | 225 | 358 | 411 |
| Tax % | 28% | 35% | 23% | 26% | 25% | |
| Net Profit + | 112 | 246 | 218 | 166 | 267 | 304 |
| EPS in Rs | 5.04 | 11.06 | 9.78 | 7.45 | 12 | 13.67 |
| Dividend Payout % | 58% | 70% | 59% | 81% | 50% |
Hatsun Agro Product has demonstrated consistent growth in its financial performance over recent years. From March 2020 to March 2024, the company’s sales have steadily increased from ₹5,308 crore to ₹7,990 crore, with a trailing twelve months (TTM) figure of ₹8,382 crore. Expenses have risen proportionately, from ₹4,758 crore in March 2020 to ₹7,091 crore by March 2024, and ₹7,368 crore in TTM, reflecting efficient cost management amidst growing operations. Operating profit has seen fluctuations but improved significantly to ₹1,014 crore (TTM), supported by an Operating Profit Margin (OPM%) improvement to 12% in TTM compared to 10% in March 2020.
Net profit for Hatsun Agro Product has also shown an upward trend, climbing from ₹112 crore in March 2020 to ₹267 crore in March 2024, and further to ₹304 crore in TTM. Earnings per share (EPS) followed a similar trajectory, increasing from ₹5.04 in March 2020 to ₹12 by March 2024 and reaching ₹13.67 in TTM. While the dividend payout ratio varied, it stood at 50% in March 2024, indicating a balanced approach between rewarding shareholders and reinvesting profits. The company’s commitment to growth, efficiency, and shareholder value is evident from these strong financial metrics.
FAQs
What is Hatsun Agro Product current market capitalization?
Hatsun Agro Product current market capitalization stands at ₹21,882 Cr.
The share price forecast for Hatsun Agro Product. in 2025 is expected to range between ₹1,274.55 at the upper end and ₹834.64 at the lower end
The share price forecast for Hatsun Agro Product. in 2030 suggests a potential range between ₹3,286.49 at its highest and ₹2,115.13 at its lowest.
What is Hatsun Agro Product current Price/Earnings (PE) ratio?
The stock’s Price/Earnings (PE) ratio is currently 71.9.
What is the face value of Hatsun Agro Product stock?
The face value of Hatsun Agro Product stock is ₹73.3.
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Conclusion
In conclusion, Hatsun Agro Product Ltd (HAP) has established itself as a leader in the Indian dairy industry, backed by a diverse portfolio of trusted brands, strong market presence, and commitment to quality and innovation. The company’s robust shareholding pattern, with consistent promoter confidence and increasing institutional investments, reflects its stability and growth potential. Price projections for HAP shares from 2025 to 2030 suggest a steady upward trajectory, supported by its expanding operations and financial performance.
HAP’s financial growth from 2020 to 2024 showcases its operational excellence, with consistent sales growth, improved profit margins, and a focus on shareholder returns through dividends. With a solid foundation and strategic initiatives, HAP is well-positioned to maintain its leadership in the dairy sector and deliver long-term value to investors.
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