Hatsun Agro Product Limited (IN:HATSUN)
:HATSUN
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Hatsun Agro Product Limited
(HATSUN)
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Rating:59Neutral
Price Target:
₹978.00
â–¼(-0.01% Downside)
Action:Reiterated
Date:05/21/26
The score is driven primarily by solid recent financial performance (improving growth, profitability, leverage, and strong recent free cash flow). This is tempered by weak-to-neutral technical signals (below key moving averages with negative MACD) and an expensive valuation (very high P/E with a low dividend yield).
Positive Factors
Cash generation
Sustained operating cash flow (~14.5bn) and FCF (~10.1bn) provide durable internal funding for working-capital, cold-chain investment and selective capex. Strong cash conversion enhances flexibility to deleverage, sustain distribution spend and support growth without frequent external financing.
Negative Factors
Gross-margin volatility
Sharp swings in gross margin demonstrate sensitivity to raw milk costs, packaging and cold-chain expenses. Persistent volatility undermines predictability of operating profits and makes planning for marketing, pricing and investment riskier, potentially compressing long-run profitability if input inflation recurs.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained operating cash flow (~14.5bn) and FCF (~10.1bn) provide durable internal funding for working-capital, cold-chain investment and selective capex. Strong cash conversion enhances flexibility to deleverage, sustain distribution spend and support growth without frequent external financing.
Read all positive factors
Hatsun Agro Product Limited (HATSUN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹205.43B
Dividend Yield0.61%
Average Volume (3M)10.36K
Price to Earnings (P/E)57.7
Beta (1Y)0.57
Revenue Growth14.48%
EPS Growth27.72%
CountryIN
Employees5,222
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)14.76
Shares Outstanding222,748,260
10 Day Avg. Volume2,515
30 Day Avg. Volume10,356
Financial Highlights & Ratios
PEG Ratio2.08
Price to Book (P/B)10.58
Price to Sales (P/S)2.07
P/FCF Ratio20.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)20.9
Revenue Forecast (FY)₹107.44B
Hatsun Agro Product Limited Business Overview & Revenue Model
Company Description
Hatsun Agro Product Limited manufactures and markets ice creams, milk, milk products, and cattle feed primarily in India. The company offers standardized, full cream, and toned milk; and curd under the Arokya brand name. It also provides milk, ski...
How the Company Makes Money
HATSUN primarily makes money by converting procured raw milk into branded dairy products and selling them through a mix of channels, earning a margin between (a) the cost of milk procurement/processing/cold-chain/logistics and (b) the realized sel...
Hatsun Agro Product Limited Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
66
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 92.54B | 99.59B | 86.84B | 79.75B | 72.28B | 63.54B |
| Gross Profit | 26.17B | 21.35B | 26.18B | 23.31B | 20.22B | 19.24B |
| EBITDA | 11.42B | 11.77B | 10.28B | 9.20B | 7.11B | 7.30B |
| Net Income | 3.29B | 3.56B | 2.79B | 2.67B | 1.66B | 2.18B |
Balance Sheet | ||||||
| Total Assets | 44.29B | 44.43B | 48.65B | 47.35B | 37.06B | 35.42B |
| Cash, Cash Equivalents and Short-Term Investments | 719.60M | 511.90M | 710.10M | 516.72M | 402.27M | 379.25M |
| Total Debt | 20.11B | 18.38B | 25.70B | 26.98B | 17.93B | 19.39B |
| Total Liabilities | 26.00B | 24.98B | 31.47B | 31.62B | 22.65B | 24.33B |
| Stockholders Equity | 18.29B | 19.45B | 17.18B | 15.72B | 14.41B | 11.09B |
Cash Flow | ||||||
| Free Cash Flow | 8.29B | 10.08B | 7.93B | -6.07B | 2.70B | -163.25M |
| Operating Cash Flow | 10.62B | 14.47B | 14.50B | -714.57M | 7.41B | 5.76B |
| Investing Cash Flow | -2.40B | -4.37B | -8.82B | -3.88B | -4.41B | -5.65B |
| Financing Cash Flow | -8.32B | -10.18B | -5.64B | 4.74B | -3.00B | -82.22M |
Hatsun Agro Product Limited Technical Analysis
Negative
978.10
Price Trends
945.06
Negative
934.00
Negative
946.87
Negative
Market Momentum
-6.35
Positive
43.16
Neutral
19.95
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HATSUN, the sentiment is Negative. The current price of 978.1 is above the 20-day moving average (MA) of 954.57, above the 50-day MA of 945.06, and above the 200-day MA of 946.87, indicating a bearish trend. The MACD of -6.35 indicates Positive momentum. The RSI at 43.16 is Neutral, neither overbought nor oversold. The STOCH value of 19.95 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HATSUN.
Hatsun Agro Product Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹31.22B | -5,541.37 | ― | 0.42% | 11.90% | -21.63% | |
66 Neutral | ₹1.18T | 65.09 | ― | 0.70% | 15.17% | 19.04% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
62 Neutral | ₹54.54B | 46.45 | ― | 0.45% | 9.25% | -4.88% | |
59 Neutral | ₹205.43B | 57.75 | ― | 0.61% | 14.48% | 27.72% | |
57 Neutral | ₹30.31B | 18.12 | ― | 0.54% | 9.47% | -20.12% | |
56 Neutral | ₹26.31B | 16.26 | ― | 0.33% | 11.23% | 9.51% |
* Consumer Defensive Sector Average
IN:HATSUN
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Hatsun Agro Product Limited Corporate Events
Hatsun Agro Seeks Shareholder Nod via Remote E-Voting Postal Ballot
Apr 13, 2026
Hatsun Agro Product Limited has initiated a postal ballot process to seek shareholder approval on a special resolution, using only remote e-voting in line with the Companies Act, SEBI listing rules, and recent Ministry of Corporate Affairs circula...
Hatsun Agro Board Clears Appointment of New Independent Director, Sets Postal Ballot Process
Apr 10, 2026
Hatsun Agro Product Limited’s board has approved the appointment of Mr. Rajprabu Harshan as an Additional Director in the category of Non-Executive Independent Director for a first term of five consecutive years starting 10 April 2026, subje...
Hatsun Agro Completes Amalgamation of Milk Mantra Dairy, Boosts Share Capital
Mar 31, 2026
Hatsun Agro Product Limited has completed the amalgamation of Milk Mantra Dairy Private Limited into the company following approval by the National Company Law Tribunal’s Cuttack Bench. The order has been filed with the respective Registrars...
Hatsun Agro Completes Milk Mantra Merger, Raises Authorised Capital
Mar 31, 2026
Hatsun Agro Product Limited announced that the National Company Law Tribunal, Cuttack Bench, has sanctioned the amalgamation of Milk Mantra Dairy Private Limited with the company, and the order has been filed with the respective Registrars of Comp...
Hatsun Agro Closes Trading Window Ahead of FY26 Results
Mar 27, 2026
Hatsun Agro Product Limited has announced the closure of its trading window for company securities to promoters, directors, designated employees, specific connected persons, and their immediate relatives from the end of the March 31, 2026 quarter ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.