Hatsun Agro Product Ltd (HAP) is a leading private sector dairy company in India with headquarters in Chennai, Tamil Nadu. It was founded by R. G. Chandramogan in 1970 and has emerged as India's largest private sector dairy company, known for its advanced milk collection and processing infrastructure. The company has established itself as a dominant player in the Indian dairy market with over 5 decades of experience in manufacturing and marketing milk and milk products, ice cream, and other dairy products.
The company currently commands a market capitalization of ₹21,936 Crore, making it significantly larger than its competitors. The median market cap of its peers stands at ₹3,907 Crore, highlighting Hatsun's substantial market presence and scale of operations.
Hatsun Agro operates an extensive network of manufacturing facilities across India. The company operates 15 milk and curd plants and three ice cream plants, including the technologically advanced Govindapur facility near Hyderabad. Spanning 113 acres and equipped with cutting-edge robotic technology, the Govindapur plant produces 1.27 lakh kilograms of ice cream daily, with the capacity to scale up to 2 lakh kilograms per day. The company has manufacturing and distribution plants located in Tamil Nadu, Karnataka, Goa, Telangana, Maharashtra, Chhattisgarh, Odisha, Kerala, Gujarat, and Andhra Pradesh.
The company has built an impressive milk procurement network that forms the backbone of its operations. Every morning in South India, over 320,000 dairy farmers visit one of Hatsun Agro Product's 10,000 milk banks (HMBs) in 13,000 villages to deposit fresh milk. Building this elaborate supply chain is its moat – as it runs 1100+ milk procurement routes, hundreds of chilling centers, and dozens of procurement centers. The company procures milk from over 400,000 farmers daily, and of the 34 lakh liters of milk procured daily, 22 lakh liters are sold as packaged milk, while the rest supports the production of curd, ice cream, and other dairy products.
Hatsun Agro has developed a comprehensive product portfolio spanning multiple categories within the dairy segment. The company engages in manufacturing and marketing of milk, milk products, and cattle feed. It offers ice cream, kulfi flavours, premium desserts, chocolates, and fermented dairy products, such as yoghurt and dairy based spreads. It also provides dairy whitener, skimmed milk powder, ghee, paneer, and other products.
The company markets its products under several well-established brand names. Arun Icecreams serves as South India's leading ice cream brand, offering ice-cream bars, cups, shakes, tubs, cones, ice-cream sandwiches, and other variants. The company's brands have become household names, with Arun Icecreams, Arokya Milk, Hatsun Curd, Hatsun Paneer, Hatsun Ghee, Hatsun Dairy Whitener, and Ibaco emerging as popular choices across the country.
Hatsun Agro's net profit declined 17.53% to ₹43.01 Crore in the quarter ended March 2025, as against ₹52.15 Crore during the previous quarter ended March 2024. Sales rose 9.57% to ₹2,242.85 Crore in the quarter ended March 2025, as against ₹2,046.87 Crore during the previous quarter ended March 2024. On an annual basis, the company's net profit rose 4.32% to ₹278.81 Crore in the year ended March 2025, as against ₹267.27 Crore during the previous year ended March 2024. Sales rose 8.88% to ₹8,699.76 Crore in the year ended March 2025, as against ₹7,990.40 Crore during the previous year ended March 2024.
Chennai-based Hatsun Agro Product Ltd is well on track to become a billion-dollar enterprise by the end of 2025. The company has been steadily increasing its turnover, expecting to close the year with revenues of approximately INR 9,000 Crore, up from INR 8,000 Crore the previous year.
The company has been actively pursuing strategic acquisitions to expand its geographical footprint. The company's board has approved the draft Scheme of Amalgamation for the merger of its wholly-owned subsidiary, Milk Mantra Dairy, with Hatsun Agro Product. Milk Mantra had recorded a turnover of ₹276.42 Crore for FY 2023-24, and this acquisition would strengthen the company's presence in Odisha and the Eastern India dairy market.
In a bold move to expand its presence beyond its strongholds in South and West India, Hatsun Agro acquired Milk Mantra Dairy, the owner of the popular 'Milky Moo' brand, for INR 233 Crore. The acquisition marks HAP's foray into the growing dairy market in Eastern India, particularly in Odisha, a prosperous milk-producing region.
The company utilizes innovative technologies like Bactofuge to produce clarified liquid milk, demonstrating its commitment to technological advancement in dairy processing. HAP continues to invest in automation and advanced technologies to enhance efficiency, precision, and quality in its operations.
The company exports its dairy ingredients to 38 countries in the American, Middle East, and South East Asian markets, showcasing its international reach and capability to meet global quality standards.
HAP has successfully expanded its footprint across India, with a stronghold in Southern India and growing presence in states such as Maharashtra, Kerala, Orissa, Goa, Chhattisgarh, Madhya Pradesh, West Bengal, Jharkhand, Gujarat, Andaman & Nicobar Islands, Chandigarh, and Bihar. Its diverse product portfolio, ranging from basic dairy staples to premium offerings, enables HAP to cater to various consumer segments, ensuring steady revenue streams and growth.
The company's extensive distribution network and operational excellence position it well for sustained growth in India's expanding dairy market, making it a significant player in the country's food and beverage sector.
