Trending Mid Cap Stocks: Hatsun Agro to benefit from new manufacturing plant at Tamil Nadu
DSIJ Intelligence / 13 Jul 2017
Hatsun Agro Product stock opened today on a positive note leading to 7% intraday hike in price on BSE.
Hatsun Agro Product stock opened today on a positive note leading to 7% intraday hike in price on BSE. The company has joined hands with Germany based GEA to set up a greenfield plant at Dharapuram near Coimbatore in Tamil Nadu.
This new manufacturing unit of dairy products is expected to get operational from next fiscal year and would have the capacity to produce 3 lakh litres of milk and 1.5 litre of curd. This turnkey based factory is expected to be one of the largest plant setup in South India. It is going to be a fully automated unit with investment cost of Rs 120 crore made by the company.
New advanced technology and improving hygiene standards would help the dairy industry to flourish going forward.
In FY17, Hatsun Agro recorded growth of 21.9% in revenue and 121.4% growth in its net profit on YoY basis. The company has paid two interim dividends of Rs 1 and Rs 3 per equity share for FY17.
Hatsun Agro Products is a dairy based company, which manufactures products like milk, curd, ghee, paneer, ice-creams etc.
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