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Hatsun Agro Product Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹771.27Overvalued by 14.30%vs CMP ₹900.00

P/E (56.3) × ROE (19.4%) × BV (₹87.30) × DY (1.11%)

₹386.18Overvalued by 57.09%vs CMP ₹900.00
MoS: -133.1% (Negative)Confidence: 66/100 (Moderate)Models: 1 Fair, 9 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹864.3720%Fair (-4%)
Graham NumberEarnings₹184.2914%Over (-79.5%)
Earnings PowerEarnings₹12.1912%Over (-98.6%)
DCFCash Flow₹229.3512%Over (-74.5%)
Net Asset ValueAssets₹87.236%Over (-90.3%)
EV/EBITDAEnterprise₹713.888%Over (-20.7%)
Dividend DiscountDividends₹440.008%Over (-51.1%)
Earnings YieldEarnings₹172.906%Over (-80.8%)
ROCE CapitalReturns₹377.018%Over (-58.1%)
Revenue MultipleRevenue₹388.895%Over (-56.8%)
Consensus (10 models)₹386.18100%Overvalued
Key Drivers: Wide model spread (₹12–₹864) — 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

Analyst Summary

Hatsun Agro Product Ltd operates in the Milk & Milk Products segment, NSE: HATSUN | BSE: 531531, current market price is ₹900.00, market cap is 20,058 Cr.. At a glance, stock P/E is 56.3, ROE is 19.4 %, ROCE is 15.3 %, book value is 87.3, dividend yield is 1.11 %. The latest intrinsic value estimate is ₹386.18, around 57.1% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹8,667 Cr versus the prior period change of 8.5%, while latest net profit is about ₹285 Cr with a prior-period change of 6.7%. The 52-week range shown on this page is 1,179/731, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisHatsun 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)…

This summary is generated from the stock page data available for Hatsun Agro Product Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

64
Hatsun Agro Product Ltd scores 64/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health63/100 · Moderate
ROCE 15.3% GoodROE 19.4% ExcellentD/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 56.3 vs industry 66.5 In-lineROCE 15.3% vs industry 13.3% AverageROE 19.4% vs industry 11.6% 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.

Share Price and Basic Stock Data

Last Updated: June 12, 2026, 4:22 am

Market Cap 20,058 Cr.
Current Price 900
Intrinsic Value₹386.18
High / Low 1,179/731
Stock P/E56.3
Book Value 87.3
Dividend Yield1.11 %
ROCE15.3 %
ROE19.4 %
Face Value 1.00
PEG Ratio4.66

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 20,058 Cr. 900 1,179/73156.3 87.31.11 %15.3 %19.4 % 1.00
Dodla Dairy Ltd 6,438 Cr. 1,067 1,525/95523.9 2780.47 %18.0 %17.5 % 10.0
Vadilal Industries Ltd 4,272 Cr. 5,941 6,098/3,99027.5 1,1830.35 %22.2 %20.1 % 10.0
Heritage Foods Ltd 2,923 Cr. 315 542/29220.5 1190.79 %15.9 %13.7 % 5.00
Umang Dairies Ltd 189 Cr. 85.7 96.8/82.0309 20.70.00 %4.52 %1.35 % 5.00
Industry Average5,673.67 Cr1,052.0366.52223.690.46%13.31%11.62%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: June 15, 2026, 2:00 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital 111115151616222222222222
Reserves 2112203333507898881,0001,0871,4181,5501,7021,922
Borrowings 6146729191,2991,0281,4341,6221,9391,7932,6982,5661,838
Other Liabilities 220255320367413376474494472464541660
Total Liabilities 1,0561,1571,5882,0322,2462,7143,1173,5423,7064,7354,8324,443
Fixed Assets 6326479911,2171,4081,7561,9292,4102,6152,7673,0473,505
CWIP 23339025923335538423725423824559
Investments 100000814213026743
Other Assets 3994775065566056047958818161,6991,273835
Total Assets 1,0561,1571,5882,0322,2462,7143,1173,5423,7064,7354,8324,443

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 62219433277375552518576741-711,4431,557
Cash from Investing Activity + -124-134-569-523-343-537-418-565-441-388-880-435
Cash from Financing Activity + 76-79162223-31-7-106-8-300474-564-1,130
Net Cash Flow 13626-2318-73014-1-8
Free Cash Flow -6383-138-24933121057307-4578021,126
CFO/OP 37%82%124%83%91%105%76%95%115%6%153%143%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow178.00-416.00-367.00-541.00371.00447.00549.00801.00720.00700.00897.00-1.00

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. 9959.22 Cr. and Equity Capital is Rs. 22.28 Cr. for the Year ended 31/03/2026.
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 22 June 2026, Hatsun Agro Product Ltd's intrinsic value is ₹386.18, which is 57.09% lower than the current market price of ₹900.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (19.4 %), book value (₹87.3), dividend yield (1.11 %), 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 ₹900.00 as of 22 June 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 ₹20,058 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 56.3, which is below the industry average of 66.52. 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 15.3 % indicates efficient capital utilization; ROE of 19.4 % shows strong shareholder returns. Dividend yield is 1.11 %.

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 1.11 % at the current price of ₹900.00. The company pays dividends, though the yield is modest.

Last Updated: June 12, 2026, 4:22 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 531531 | NSE: HATSUN
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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