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27 Years
4.4 Star
1 Crore +
Packaged Foods company Hatsun Agro Products announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Revenue from Operations: Grew by 14.38% from Rs 1,789.46 crore in Q4FY23 to Rs 2,046.87 crore in Q4FY24.
- EBITDA: Increased by 46.64% to Rs 231.77 crore in Q4FY24 up from Rs 158.05 crore in Q4FY23.
- Profit Before Tax (PBT): Jumped by 115.59% to Rs 70.89 crore in Q4FY24 from Rs 32.88 crore in Q4FY23.
- Profit After Tax (PAT): Expanded by 108.76% to Rs 52.16 crore in Q4FY24, compared to Rs 24.99 crore in Q4FY23.
- Procurement of milk registered a growth of 39.04% in Q4FY24 over FY23
FY24 Financial Highlights:
- Revenue from Operations: Increased by 10.26% to Rs 7,990.40 crore in FY24 from Rs 7,246.97 crore in FY23.
- EBITDA: Grew by 29.43% to Rs 921.56 crore in FY24 against Rs 712.00 crore in FY23.
- Profit Before Tax (PBT): Rose by 59.37% to Rs 357.89 crore in FY24 compared to Rs 224.56 crore in FY23.
- Profit After Tax (PAT): Showed a significant rise of 61.15% reaching Rs 267.29 crore in FY24 from Rs 165.86 crore in FY23.
- Milk procurement increased by 20.30% compared to FY23
Commenting on the results, RG Chandramogan, Chairman, Hatsun Agro Product Ltd said; “We are happy to report good growth in procurement of milk and revenues both in Q4FY24 and for the full FY 2023-24. Strong sales recovery in the domestic market post Covid with good summer sales 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 crore 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”.
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