Hatsun Agro share price surges 15% after Q4 result; ICICI Securities upgrades the stock to a buy
₹1122.05 against its previous close of ₹1023.70 and jumped 14.7 per cent to the level of ₹1174.65. Around 1 am, Hatsun Agro share price traded 12.73 per cent higher at ₹1,154 apiece on the BSE. Hatsun Agro share price witnessed strong buying interest after the company reported a strong jump in Q4 profit and EBITDA.
The company's profit after tax (PAT) surged 108.76 per cent in Q4FY24 to ₹52.16 crore against ₹24.99 crore in Q4FY23, according to its exchange filing. EBITDA for the quarter stood at ₹231.77 crore, up 46.64 per cent against ₹158.05 crore in the same quarter of the previous financial year. Revenue from operations of the leading private sector dairy player in India rose 14.38 per cent to ₹2,046.87 crore in Q4FY24 against ₹1,789.46 crore in Q4FY23.
For the financial year 2023-2024 (FY24), PAT rose 61.15 per cent year-on-year (YoY) to ₹267.29 crore, EBITDA increased 29.43 per cent YoY to ₹921.56 crore and revenue from operations moved up by 10.26 per cent YoY to ₹7,990.40 crore. Procurement of milk in FY24 saw a growth of 20.30 per cent. Also Read: Reliance share price trades flat after Q4 result; should you buy, sell or hold? Here's what top brokerages say “We are happy to report good growth in procurement of milk and revenues both in Q4 and for the full FY24.
Strong sales recovery in the domestic market post-Covid with good summer sales led to good sales volume. All our business verticals did well with our leading brands registering healthy sales growth," said RG Chandramogan, Chairman, Hatsun Agro Product Ltd. "Hatsun Agro Product’s retail expansion in the last two years helped us reach customers in new markets like Maharashtra, Orissa, West Bengal and Madhya Pradesh and also supported existing strong bases in
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