Buckets of milk sit on the ground during a cattle fair at a wholesale market in Dhule district, Maharashtra, India. (Photographer: Dhiraj Singh/Bloomberg)

Hatsun Agro To Set Up A 2.5-Lakh Litre Plant In Maharashtra This Year

Hatsun Agro Products Ltd. is planning to open a new plant in Maharashtra in the financial year 2019-20, according to its Managing Director RG Chandramogan.

“We are planning to put a plant to process 2.5 lakh litres of milk and 1.5 lakh litres of curd (a day),” Chandramogan told BloombergQuint in an interview. “Our depreciation and interest costs went up in the last 18 months as we have been heavily investing in infrastructure. Now that stabilisation phase is over.”

The company, he said, plans to enhance its daily ice cream processing capacity to 1.5 lakh litres from 1.2 lakh litres.

Milk prices were low in one to two states last year but not in the southern states. Cooperatives are strong here so discount prices are not available.  
RG Chandramogan, Managing Director, Hatsun Agro Products

Key Highlights: (YoY)

  • Revenue rose 12.6 percent to Rs 1,183 crore.
  • Ebitda rose 32.8 percent ot Rs 100.4 crore.
  • Ebitda margin at 8.5 percent versus 7.2 percent.
  • Net profit up 8 times to Rs 20 crore.

The shares fluctuated between gains and losses to trade at Rs 722.55 as of 11:55 am in today’s trade.

Watch the full interview here: