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Last Updated: April 2, 2026, 2:31 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 531531 | NSE: HATSUN

Hatsun Agro Product Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹593.33Overvalued by 33.85%vs CMP ₹897.00

P/E (51.9) × ROE (17.0%) × BV (₹83.50) × DY (0.67%)

₹343.79Overvalued by 61.67%vs CMP ₹897.00
MoS: -160.9% (Negative)Confidence: 70/100 (High)Models: All 10: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹664.9420%Over (-25.9%)
Graham NumberEarnings₹180.2314%Over (-79.9%)
Earnings PowerEarnings₹4.4812%Over (-99.5%)
DCFCash Flow₹221.7912%Over (-75.3%)
Net Asset ValueAssets₹83.476%Over (-90.7%)
EV/EBITDAEnterprise₹706.668%Over (-21.2%)
Dividend DiscountDividends₹440.008%Over (-50.9%)
Earnings YieldEarnings₹172.906%Over (-80.7%)
ROCE CapitalReturns₹385.968%Over (-57%)
Revenue MultipleRevenue₹389.165%Over (-56.6%)
Consensus (10 models)₹343.79100%Overvalued
Key Drivers: Wide model spread (₹4–₹707) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 12.1%

*Investments are subject to market risks

Investment Snapshot

61
Hatsun Agro Product Ltd scores 61/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health53/100 · Moderate
ROCE 13.1% GoodROE 17.0% GoodD/E 1.08 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 73.2% Stable
Earnings Quality60/100 · Moderate
OPM stable around 12% SteadyWorking capital: -30 days (improving) Efficient
Quarterly Momentum80/100 · Strong
Revenue (4Q): +11% YoY GrowingProfit (4Q): +34% YoY Strong
Industry Rank60/100 · Moderate
P/E 51.9 vs industry 62.8 In-lineROCE 13.1% vs industry 16.3% AverageROE 17.0% vs industry 13.6% Above peers3Y sales CAGR: 11% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:31 am

Market Cap 19,977 Cr.
Current Price 897
Intrinsic Value₹343.79
High / Low 1,179/731
Stock P/E51.9
Book Value 83.5
Dividend Yield0.67 %
ROCE13.1 %
ROE17.0 %
Face Value 1.00
PEG Ratio4.30

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Hatsun Agro Product Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Hatsun Agro Product Ltd 19,977 Cr. 897 1,179/73151.9 83.50.67 %13.1 %17.0 % 1.00
Dodla Dairy Ltd 6,096 Cr. 1,010 1,525/95522.5 2540.49 %26.6 %19.8 % 10.0
Vadilal Industries Ltd 3,162 Cr. 4,398 7,399/3,99025.9 1,0920.48 %25.1 %24.0 % 10.0
Heritage Foods Ltd 2,855 Cr. 308 542/29217.5 1120.81 %25.3 %20.2 % 5.00
Umang Dairies Ltd 189 Cr. 85.7 96.8/67.4309 20.70.00 %4.52 %1.35 % 5.00
Industry Average5,405.17 Cr850.1362.84206.970.43%16.31%13.64%7.00

All Competitor Stocks of Hatsun Agro Product Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,6951,7892,1511,9051,8872,0472,3752,0722,0102,2102,5352,3812,315
Expenses 1,5051,6331,9131,6871,6751,8172,0451,8311,7961,9822,1652,0512,058
Operating Profit 190156238219213230330241214228370331257
OPM % 11%9%11%11%11%11%14%12%11%10%15%14%11%
Other Income 02214422728342
Interest 36303432385046454348433733
Depreciation 929697100102111111116117121129136139
Profit before tax 6333109101777117688566720116288
Tax % 26%24%27%23%25%26%26%26%26%26%26%26%23%
Net Profit 46258078575213164415014812067
EPS in Rs 2.081.123.603.482.582.345.862.891.842.236.655.403.01

Last Updated: February 6, 2026, 10:47 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 1:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,4942,9333,4454,1984,2874,7605,3085,5516,3707,2477,9908,6679,441
Expenses 2,3162,7353,1403,8203,9164,3124,7584,7495,6496,5467,0917,6548,255
Operating Profit 1781983053783724485508027217018991,0141,186
OPM % 7%7%9%9%9%9%10%14%11%10%11%12%13%
Other Income 96578-19-22-2111231918
Interest 416368708886106108107126154182162
Depreciation 6594107143174201296295311362409465525
Profit before tax 8147134172119161156377283225358386518
Tax % -0%17%55%21%23%29%28%35%23%26%25%26%
Net Profit 82396013591115112246218166267285385
EPS in Rs 3.701.762.726.084.085.155.0411.069.787.4512.0012.8117.29
Dividend Payout % 33%50%72%45%67%56%58%70%59%81%50%47%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-52.44%53.85%125.00%-32.59%26.37%-2.61%119.64%-11.38%-23.85%60.84%6.74%
Change in YoY Net Profit Growth (%)0.00%106.29%71.15%-157.59%58.97%-28.98%122.25%-131.02%-12.47%84.70%-54.10%

Hatsun Agro Product Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:11%
5 Years:10%
3 Years:11%
TTM:7%
Compounded Profit Growth
10 Years:22%
5 Years:20%
3 Years:9%
TTM:-5%
Stock Price CAGR
10 Years:16%
5 Years:11%
3 Years:-2%
1 Year:-30%
Return on Equity
10 Years:19%
5 Years:18%
3 Years:16%
Last Year:17%

Last Updated: September 4, 2025, 9:45 pm

Balance Sheet

Last Updated: December 4, 2025, 12:52 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 11111115151616222222222222
Reserves 1692112203333507898881,0001,0871,4181,5501,7021,837
Borrowings 4946146729191,2991,0281,4341,6221,9391,7932,6982,5662,010
Other Liabilities 171220255320367413376474494472464541573
Total Liabilities 8441,0561,1571,5882,0322,2462,7143,1173,5423,7064,7354,8324,442
Fixed Assets 5046326479911,2171,4081,7561,9292,4102,6152,7673,0473,283
CWIP 10623339025923335538423725423824533
Investments 11000008142130267268
Other Assets 2333994775065566056047958818161,6991,273858
Total Assets 8441,0561,1571,5882,0322,2462,7143,1173,5423,7064,7354,8324,442

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 20162219433277375552518576741-711,443
Cash from Investing Activity + -212-124-134-569-523-343-537-418-565-441-388-880
Cash from Financing Activity + 1376-79162223-31-7-106-8-300474-564
Net Cash Flow 113626-2318-73014-1
Free Cash Flow -36-6383-138-24933121057307-457802
CFO/OP 126%37%82%124%83%91%105%76%95%115%6%153%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-316.00-416.00-367.00-541.00371.00447.00549.00801.00720.00700.00897.00-1.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 322411110001
Inventory Days 174351364544365550419460
Days Payable 181820202019141312131215
Cash Conversion Cycle 32732192625244239288347
Working Capital Days -33-24-24-41-55-3010-43-37-24-14-30
ROCE %19%14%23%22%14%15%13%21%15%11%13%13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 73.11%73.11%73.11%73.11%73.15%73.17%73.17%73.17%73.17%73.17%73.17%73.17%
FIIs 4.06%4.07%3.04%2.90%2.86%2.82%3.29%3.38%3.40%3.39%3.26%3.20%
DIIs 8.40%8.54%9.54%9.70%9.81%9.82%10.17%9.99%10.08%10.22%10.36%10.28%
Public 14.43%14.28%14.32%14.28%14.18%14.20%13.38%13.45%13.35%13.23%13.20%13.35%
No. of Shareholders 29,96529,63026,36526,38225,54127,00626,40437,67736,66531,25634,72728,734

Shareholding Pattern Chart

No. of Shareholders

Hatsun Agro Product Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Focused Fund 9,200,000 1.88 809.42N/AN/AN/A
SBI Midcap Fund 3,000,000 1.18 263.94N/AN/AN/A
SBI Small Cap Fund 2,941,554 0.75 258.82,941,5542025-04-22 14:12:250%
SBI Childrens Fund - Investment Plan 2,500,000 4.25 219.95N/AN/AN/A
SBI Large & Midcap Fund 1,912,000 0.45 168.221,512,0002025-12-08 00:33:4826.46%
SBI Conservative Hybrid Fund 765,778 0.71 69.82397,4612025-12-08 00:33:4892.67%
Nippon India Small Cap Fund 653,789 0.09 57.52651,7342026-02-23 02:03:100.32%
SBI Consumption Opportunities Fund 275,000 0.83 24.19N/AN/AN/A
SBI Long Term Advantage Fund - Series VI 90,000 3.03 7.92N/AN/AN/A
DSP Mid Cap Fund 81,924 0.04 7.21219,6192026-02-23 02:03:10-62.7%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 12.8112.007.5410.0511.43
Diluted EPS (Rs.) 12.8112.007.5410.0511.43
Cash EPS (Rs.) 33.7030.3823.6724.5225.80
Book Value[Excl.RevalReserv]/Share (Rs.) 77.3970.5764.6751.4347.38
Book Value[Incl.RevalReserv]/Share (Rs.) 77.3970.5764.6751.4347.38
Dividend / Share (Rs.) 6.006.006.006.008.00
Revenue From Operations / Share (Rs.) 389.01358.66325.29295.47258.33
PBDIT / Share (Rs.) 46.3741.3631.9633.9136.39
PBIT / Share (Rs.) 25.4922.9815.7319.5022.01
PBT / Share (Rs.) 17.3316.0610.0814.5516.89
Net Profit / Share (Rs.) 12.8112.007.4410.1111.43
PBDIT Margin (%) 11.9111.539.8211.4714.08
PBIT Margin (%) 6.556.404.836.598.52
PBT Margin (%) 4.454.473.094.926.53
Net Profit Margin (%) 3.293.342.283.424.42
Return on Networth / Equity (%) 16.5517.0011.5119.6524.11
Return on Capital Employeed (%) 18.6017.6913.7019.8126.66
Return On Assets (%) 5.905.644.426.157.90
Long Term Debt / Equity (X) 0.540.600.540.700.52
Total Debt / Equity (X) 1.221.441.001.541.08
Asset Turnover Ratio (%) 1.811.881.991.911.91
Current Ratio (X) 0.630.860.630.560.53
Quick Ratio (X) 0.080.070.150.130.11
Inventory Turnover Ratio (X) 7.116.278.667.388.38
Dividend Payout Ratio (NP) (%) 46.8250.0077.9859.3552.50
Dividend Payout Ratio (CP) (%) 17.8019.7424.5224.4623.25
Earning Retention Ratio (%) 53.1850.0022.0240.6547.50
Cash Earning Retention Ratio (%) 82.2080.2675.4875.5476.75
Interest Coverage Ratio (X) 5.695.985.656.867.10
Interest Coverage Ratio (Post Tax) (X) 2.572.732.323.333.23
Enterprise Value (Cr.) 23528.1924675.1620296.1224774.6716684.08
EV / Net Operating Revenue (X) 2.713.092.803.893.00
EV / EBITDA (X) 22.7726.7828.5133.8921.27
MarketCap / Net Operating Revenue (X) 2.482.812.613.632.80
Retention Ratios (%) 53.1749.9922.0140.6447.49
Price / BV (X) 12.4714.2813.1120.8415.29
Price / Net Operating Revenue (X) 2.482.812.613.632.80
EarningsYield 0.010.010.010.010.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Hatsun Agro Products Ltd. is a Public Limited Listed company incorporated on 04/03/1986 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN) is L15499TN1986PLC012747 and registration number is 012747. Currently Company is involved in the business activities of Manufacture of dairy products. Company's Total Operating Revenue is Rs. 8667.24 Cr. and Equity Capital is Rs. 22.28 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Milk & Milk ProductsNo.41 (49), Janakiram Colony Main Road, Janakiram Colony, Arumbakkam, Chennai (Madras) Tamil Nadu 600106Contact not found
Management
NamePosition Held
Mr. R G ChandramoganChairman
Mr. C SathyanVice Chairman
Mr. J Shanmuga PriyanManaging Director
Mr. K S ThanarajanNon Executive Director
Mr. S SubramanianIndependent Director
Mr. V Rajendran MuthuIndependent Director
Mrs. Bharathi BaskarIndependent Woman Director
Mrs. Archana NarayanaswamyIndependent Woman Director

FAQ

What is the intrinsic value of Hatsun Agro Product Ltd and is it undervalued?

As of 15 April 2026, Hatsun Agro Product Ltd's intrinsic value is ₹343.79, which is 61.67% lower than the current market price of ₹897.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (17.0 %), book value (₹83.5), dividend yield (0.67 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Hatsun Agro Product Ltd?

Hatsun Agro Product Ltd is trading at ₹897.00 as of 15 April 2026, with a FY2026-2027 high of ₹1,179 and low of ₹731. The stock is currently in the middle of its 52-week range. Market cap stands at ₹19,977 Cr..

How does Hatsun Agro Product Ltd's P/E ratio compare to its industry?

Hatsun Agro Product Ltd has a P/E ratio of 51.9, which is below the industry average of 62.84. This is broadly in line with or below the industry average.

Is Hatsun Agro Product Ltd financially healthy?

Key indicators for Hatsun Agro Product Ltd: ROCE of 13.1 % is moderate; ROE of 17.0 % shows strong shareholder returns. Dividend yield is 0.67 %.

Is Hatsun Agro Product Ltd profitable and how is the profit trend?

Hatsun Agro Product Ltd reported a net profit of ₹285 Cr in Mar 2025 on revenue of ₹8,667 Cr. Compared to ₹218 Cr in Mar 2022, the net profit shows an improving trend.

Does Hatsun Agro Product Ltd pay dividends?

Hatsun Agro Product Ltd has a dividend yield of 0.67 % at the current price of ₹897.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Hatsun Agro Product Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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