NSE: HATSUN | BSE: 531531

Expensive Performer

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944.10 -6.10 (-0.64%)

32.56% Fall from 52W High

21,468 NSE+BSE Volume

NSE 17 Apr, 2025 3:31 PM (IST)

21,029.7

Market Cap

High in industry

0.8

Beta 1Year

Very Low volatility

Hatsun Agro Products Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for HATSUN, BSE:531531 Hatsun Agro Products Ltd.

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Hatsun Agro Products Ltd.

03 Dec 2024

944.10

-0.64%

Ice cream – likely to emerge as major value driver

Buy: Hatsun Agro Products Ltd.

ICICI Securities Limited

Hatsun Agro’s ice cream business has strong potential to create value, in our view, as it has built multiple competitive advantages such as established brands (Arun and Ibaco), HAP Daily, three manufacturing units which help to cater to a large geography – this results in higher TAM at lower freight costs and storage units which help in reducing capex.

Hatsun Agro Products Ltd. is trading below its 100 day SMA of 983.8

Hatsun Agro Products Ltd.

05 Nov 2024

944.10

-0.64%

Lower-than-expected revenue growth; margin expansion remains strong

Buy: Hatsun Agro Products Ltd.

Target

ICICI Securities Limited

Hatsun reported gross/EBITDA margin expansion (+49bps/15bps YoY) in spite of Q2FY24’s relatively high base.

Hatsun Agro Products Ltd. is trading above its 50 day SMA of 943.0

Hatsun Agro Products Ltd.

16 Jul 2024

944.10

-0.64%

Strong margin expansion led by lower milk procurement prices

Buy: Hatsun Agro Products Ltd.

Target

ICICI Securities Limited

Hatsun reported strong Q1FY25 numbers led by volume-driven revenue growth and a 14-quarter high EBITDA margin. We reckon the deflationary trend in milk procurement prices persisting Q1FY25 and is likely the chief driver of gross/EBITDA margin expansion.

Hatsun Agro Products Ltd. is trading above its 50 day SMA of 943.0

Hatsun Agro Products Ltd.

23 Apr 2024

944.10

-0.64%

Strong volume led revenue growth and margin tailwinds; Upgrade to BUY

Buy: Hatsun Agro Products Ltd.

Recommendation Target

ICICI Securities Limited

Hatsun reported highest gross margins in past 10 quarters underlining the cyclical recovery in margins due to lower milk procurement prices.

Hatsun Agro Products Ltd. is trading above its 50 day SMA of 943.0

Hatsun Agro Products Ltd.

20 Oct 2023

944.10

-0.64%

Cyclical recovery in EBITDA margins on track

Hold: Hatsun Agro Products Ltd.

Target

ICICI Securities Limited

We are enthused by: (1) EBITDA margin expansion which has continued in Q2FY24 led by correction in commodity prices, (2) improvement in utilisation at new plants at Solapur (Maharashtra) and Govindapur (Andhra Pradesh) is leading to higher profitability and (3) sale of windmills is likely to be RoCE accretive.

Hatsun Agro Products Ltd. is trading below its 100 day SMA of 983.8

Hatsun Agro Products Ltd.

20 Jul 2023

944.10

-0.64%

Lower milk procurement prices lead to margin expansion

Hold: Hatsun Agro Products Ltd.

Target

ICICI Securities Limited

We are enthused by EBITDA margin expansion posted by Hatsun in Q1FY24 YoY. Correction in milk procurement price has resulted in gross margin expansion of 110bps QoQ. We model the full benefits of lower input prices to be visible in Q2FY24. The sale of windmill assets is likely to be value accretive in our view as the RoCE on windmill operations was lower than cost of capital.

Hatsun Agro Products Ltd. is trading above its 50 day SMA of 943.0

Hatsun Agro Products Ltd.

10 May 2023

944.10

-0.64%

Margins have likely bottomed out; we model recovery in H2FY24

Hold: Hatsun Agro Products Ltd.

Target

ICICI Securities Limited

Hatsun’s Q4FY23 gross margin of 26.8% was lowest in past 24 quarters. Higher milk procurement led by lumpy skin disease, muted flush season and intense summer have impacted the margins.

Hatsun Agro Products Ltd. is trading above its 50 day SMA of 943.0

Hatsun Agro Products Ltd.

20 Jan 2023

944.10

-0.64%

Likely volume decline but strong margins in-spite of steep inflation in input prices

Hold: Hatsun Agro Products Ltd.

Target

ICICI Securities Limited

Takeaways from Q3FY23: (1) Considering multiple rounds of price hike in 9MFY23, we believe volumes have likely declined in Q3FY23 and (2) Milk procurement prices continue to remain high due to muted flush season in FY23.

Hatsun Agro Products Ltd. is trading above its 50 day SMA of 943.0

Hatsun Agro Products Ltd.

20 Oct 2022

944.10

-0.64%

Weak revenue growth; sequential recovery in margins in-spite of steep inflation in input prices

Hold: Hatsun Agro Products Ltd.

Target

ICICI Securities Limited

Revenue growth of 6.9% YoY is largely price led and we believe volumes were flat YoY.

Hatsun Agro Products Ltd. is trading above its 50 day SMA of 943.0

Hatsun Agro Products Ltd.

19 Oct 2021

944.10

-0.64%

Strong results; stretched valuations

Hold: Hatsun Agro Products Ltd.

ICICI Securities Limited

Key takeaways from Q2FY22: (1) Hatsun registered strong revenue growth of 23.2% YoY and we believe it is largely volume led, (2) steady launches of new products and geographical expansion of HAP outlets continued during the quarter and (3) EBITDA margin declined 180bps YoY due to higher input prices, increase in freight costs and likely increase in ad-spend. Hatsun is on track to complete its expansion at its three plants, which are likely to be completed during FY22.

Hatsun Agro Products Ltd. is trading above its 50 day SMA of 943.0

Is Hatsun Agro Products Ltd. worth buying?

166 Votes:

Buy 74.1%

Sell 15.66%

Hold 10.24%

RESEARCH REPORTS

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