Hatsun Agro Product Ltd (HAP), India’s largest private-sector dairy company, has strengthened its leadership in the southern market and is expanding its footprint across the country. Known for its flagship Arokya milk and Arun Icecreams, the company has diversified into a broad range of value-added dairy products including ghee, curd, skimmed milk powder, butter, and dairy whiteners.
According to a recent report, Hatsun’s focus on brand consolidation and premium product positioning has helped it build strong consumer loyalty. The company’s continuous investments in processing infrastructure and cold chain have supported its ability to handle large milk volumes while maintaining quality.
The country’s largest private dairy today, it registered FY25 revenues of ₹8,683 crore and a net profit of ₹272 crore, alongside the highest margins in the industry (see table). Looking back on the journey with satisfaction, founder-Chairman Chandramogan says, from 1992 to the present, Hatsun has registered a 26 per cent CAGR. “Our growth rate has been very comfortable,” he says modestly.
Key Figures
-
HAP recorded revenue from operations of ₹2,427.59 crore in Q2 FY26, up ~17.6 % from ~₹2,072.10 crore in Q2 FY25.
-
For the half-year ended 30 Sept 2025, HAP reported revenue of ₹5,017.87 crore and PAT (profit after tax) of ₹244.73 crore.
-
HAP procures milk directly from more than 4,00,000 selected farmers.
-
The company’s market capitalisation is around ₹23,208 crore (per recent data).
-
The company’s share price (as at Nov 7, 2025) was about ₹1,041.90 on NSE.
-
Promoter shareholding is ~73.17% (as of Sept 2025).
Operational/Business Metrics
-
HAP has a network of over 4,000 exclusive daily-stores branded “HAP Daily” across many states (Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Maharashtra, Kerala, Odisha, Goa, Chhattisgarh, Madhya Pradesh, West Bengal, Jharkhand, Gujarat, Andaman & Nicobar, Bihar).
-
The company emphasises three business divisions: liquid milk, ice-cream (via its brand Arun Icecreams) and long-shelf-life value-added dairy products (ghee, butter, SMP, dairy whiteners).
Strategic Numbers/Highlights
-
HAP sees strong consumer demand across its core dairy portfolio including milk, yoghurt, ice-cream as underlying drivers of growth.
-
The company is focused on improving efficiency across the entire value chain — from farmer engagement to last-mile distribution.
With a good half year for FY26, registering sales of ₹5,018 crore, Chandramogan says, for the full year, Hatsun could hit the ₹10,000-crore turnover milestone if the positive trend stays. For the half year, it registered EBIDTA of 13.8 per cent (19.6 per cent growth over H1FY25) while peers Heritage Foods and Dodla Dairy registered 7.5 and 10.1 per cent, respectively.
Industry Insight:
Hatsun’s success underscores the shift in India’s dairy sector from commodity milk to value-added and branded products. As private dairies scale up, competition is driving improvements in processing efficiency, product innovation, and cold-chain logistics. Analysts believe this trend will continue to reshape India’s dairy landscape, positioning companies like Hatsun Agro as key players in the country’s next phase of dairy growth.
Source : Dairynews7x7 Nov 10th 2025 Hindu BL and others