Hatsun Agro Products posts 14.38 % rise in revenue in Q4 FY 24

Company’s PAT in Q4 FY 24 was Rs.52.16 crores as against Rs 24.99 crores in Q4 FY 23 registered a growth of 108.76 per cent.

Chennai based Hatsun Agro Product Ltd, India’s leading private sector dairy company, has announced its financial results for the 4th Quarter and for Financial Year ended 31st March 2024. Company’s revenue from operations in Q4 FY 24 was Rs 2046.87 crores as against Rs 1789.46 crores in Q4 FY 23 registered a growth of 14.38 per cent. Company registered a growth of 39.04 per cent in milk procurement in FY 24 over FY 23.

COVID had disturbed the operations for two years, which led to an impact on milk procurement in the second half of FY 2022-23 and the first half of FY 2023-24. Normalcy has been restored in the second half of 2023-24 for both procurement of milk and sales.

Commenting on the results, R G Chandramogan, Chairman, Hatsun Agro Product Ltd said, “We are happy to report good growth in procurement of milk and revenues both in Q4 and for the full FY 2023-24. Strong sales recovery in the domestic market post Covid with good summer sales have led to good sales volume. All our business verticals did well with our leading brands registering healthy sales growth.

HAP’s retail expansion in the last two years helped us reach customers in new markets like Maharashtra, Orissa, West Bengal and Madhya Pradesh and also supported existing strong bases in South India. HAP in the last financial year, had invested about Rs 550 crores across new manufacturing facilities for capacity expansion in Curd and Milk Products and in market assets. The new capacities will further support our sales plans for FY 2024-25. Considerable investments have also been made to strengthen distribution, sales and marketing of our brands.”

Q4 FY 24 Vs Q4 FY 23 Highlights:

1. Revenue from operations in Q4 FY 24 was Rs.2046.87 crores as against Rs 1789.46 crores in Q4 FY 23 registered a growth of 14.38 per cent

2. EBITDA in Q4 FY 24 was Rs.231.77 crores as against Rs.158.05 crores in Q4 FY 23 registered a growth of 46.64 per cent.

3. PBT in Q4 FY 24 was Rs.70.89 crores as against Rs 32.88 crores in Q4 FY 23 registered a growth of 115.59 per cent.

4. PAT in Q4 FY 24 was Rs.52.16 crores as against Rs 24.99 crores in Q4 FY 23 registered a growth of 108.76 per cent.

5. Procurement of milk registered a growth of 39.04 per cent in FY 24 over FY 23.

FY 24 Vs FY 23 Highlights:

1. Revenue from operations in FY 24 was Rs.7990.40 crores as against Rs.7246.97 crores in FY 23 registered a growth of 10.26 per cent.

2. EBITDA in FY 24 was Rs.921.56 crores as against Rs.712.00 crores in FY 23 registered a growth of 29.43 per cent.

3. PBT in FY 24 was Rs.357.89 crores as against Rs.224.56 crores in FY 23 registered a growth of 59.37 per cent.

4. PAT in FY 24 was Rs.267.29 crores as against Rs.165.86 crores in FY 23 registered a growth of 61.15 per cent.

5. Procurement of milk in FY 24 registered a growth of 20.30 per cent

Company’s PAT in Q4 FY 24 was