Hatsun Agro Products rose 4% to Rs 751.20 after standalone net profit surged 141.42% to Rs 67.31 crore on 4.05% rise in revenue from operations to Rs 1,394.59 crore in Q3 December 2020 over Q3 December 2019.
Standalone profit before tax (PBT) soared 237.47% to Rs 100.87 crore in Q3 December 2020 as against Rs 29.89 crore in Q3 December 2019. Total tax expense for the quarter jumped 1,577.49% to Rs 33.55 crore as against Rs 2 crore in Q3 December 2019. The Q3 result was declared during trading hours today, 19 January 2021.
Among its CAPEX projects, the company has erected a plant in Solapur (Maharashtra) with a capacity to handle milk & milk products of volume 4 lakh litres per day (LLPD). Currently, the trial production is under progress and the full-fledged commercial production is expected to commence by the end of January 2021.
It has also installed facilities in Tamil Nadu to manufacture paneer with a capacity of 5 MT per day. The trial production is under progress. Commercial production is expected to commence by the end of January 2021. The company is also proposing to set up milk processing unit with a capacity of 1.5 LLPD, which is likely to commence the commercial production by the end of March 2021.
Further, the company is constructing an ice cream plant in Telengana with a capacity of about 1 lakh kgs per day. It is expected to be commissioned by the end of March 2021. The expected capex outflow has been enhanced to Rs 311 crore from the earlier estimation of Rs 245 crore.
Hatsun Agro Product is primarily engaged in the business of manufacture and marketing of ice cream and milk and dairy based products. The company sells its products under the brands Arun Icecreams, Arokya Milk, Hatsun Curd, Hatsun Paneer, Hatsun Ghee and Hatsun Dairy Whitener.
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