Packaged Foods company Hatsun Agro Products Announced Q1FY23 Result : HAP recorded a turnover of Rs.2014 crores crossing the 2000 crores mark in a quarter for the first time in Q1 FY 2023 HAP becomes the 1° private sector dairy company to cross the 2000 crores sales mark in a quarter™ Q1 FY 23 Revenues up by 31% Commenting on the results, Mr. RG Chandramogan, Chairman, Hatsun Agro Product Ltd said; “we are happy to report good growth in revenues and crossing 2000 crores sales mark for the first time in a quarter. Strong sales recovery in the domestic market post Covid with good summer sales led to highest ever quarterly sales volume. All our business segments 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.450 crores across new manufacturing facilities for capacity expansion in Ice Cream, Milk, Curd, Milk Products and Cattle Feed. The new capacities will further support our sales plans for FY 2022-23. Considerable investments have also been made to strengthen distribution, sales and marketing of our brands. Result PDF
Highlights: Q2 FY 22 Revenues up by 23.24% and H1 FY 22 Revenues up by 22.02% Q2 FY 22 PAT up by 24.79% and H1 FY 22PAT up by 15.20% Sales registered in Q2 FY 22 was Rs.1635.41 crores as against Rs.1326.99 crores in Q2 FY 21 registered a growth of 23.24% Sales registered in H1 FY 22 was Rs.3180.12 crores as against Rs.2606.27 crores in H1 FY21 registered a growth of 22.02% PAT in Q2 FY 22 was Rs.82.09 crores as against Rs.65.79 crores in Q2 FY 21 registered a growth of 24.79% PAT in H1 FY 22 was Rs.140.42 crores as against Rs.121.89 crores in H1 FY 21 registered a growth of 15.20% Commenting on the results, Mr. RG Chandramogan, Chairman, Hatsun Agro Product Ltd said; “we are happy to report a decent growth in revenues albeit little shorter to our expectations, due to unprecedented Monsoon exceeding more than 10% from the normal, in the last few months, in the entire South India and Maharashtra. These Markets account for 95% of our business. We are investing about Rs.450 Crores in our business across new manufacturing facilities to expand capacities in Ice Cream, Milk, Curd, Milk Products and Cattle Feed and also in distribution, Sales and Marketing before the end of FY 2022. We will have enough capacities in all our Divisions for FY 2022-23”. Result PDF