Hatsun Agro Chairman Interview Transcript Released
Hatsun Agro's Chairman, R G Chandramogan, expects FY26 revenues near ₹10,000 crore. Procurement prices rose 8-10%, with selling prices up 6%. The company anticipates growth in FY27 despite packaging material challenges. Sales outside Tamil Nadu are 45%, targeting 50% in two years. Margins are 1.5-2x higher than peers due to a unique distribution model.
The announcement is a transcript of an interview discussing ongoing business performance and outlook. While it provides positive insights into revenue, growth, and operational strategies, it does not contain any major new corporate actions, financial results, or significant strategic shifts that would warrant a 'HIGH' impact. The information is more of an update and commentary.
The Chairman's commentary indicates strong revenue growth, improved operational efficiency, a healthy outlook for FY27, and a robust financial position with higher margins compared to peers, all contributing to a positive sentiment.
Hatsun Agro Product Limited (HAPL) has released the transcript of an interview given by its Chairman, Mr. R G Chandramogan, to CNBC TV on 16th March 2026. This disclosure is made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The interview covered various aspects of the company's performance and outlook.
During the interview, Mr. Chandramogan discussed the demand environment, noting that revenue had grown by approximately 14% in the nine months ending FY26, driven partly by an acquisition. He indicated that the company was on track to achieve revenues close to ₹10,000 crore for the current fiscal year, with a potential miss or hit within a small margin. For FY27, the company anticipates good growth, though challenges like the impact of the war on plastic raw materials for packaging are a concern, potentially leading to price increases for products. Procurement prices had recently increased by about 8-10%, with selling prices seeing a hike of around 6%.
The Chairman also highlighted that the company's unit that was taken over is being amalgamated, and it is expected to be a standalone report from the current month onwards. He mentioned that volumes have increased and things are improving. Regarding packaging materials, while there are supply and price increase concerns for some items like gas for wafer cones, the company has an in-house unit for polythene films and aims to manage the situation for at least the next month and a half.
Mr. Chandramogan expressed optimism about the potential regulation of the unorganized industry by FSSAI, viewing it as a positive move that could lead to easier operations and reduce manipulation by smaller players. He confirmed that milk remains the core value and driver of operational efficiency for other products. Revenue from value-added products is growing, and the company is focusing on the consumer business rather than the Horeca segment, resulting in zero receivables. He also noted that sales from outside Tamil Nadu currently stand at 45% and are projected to reach 50% in the next two years, with enhanced capacity utilization expected to drive better performance in the coming year.
On profitability, the Chairman stated that Hatsun Agro maintains better margins than its peers due to its unique distribution model, which includes a network of around 4,500 outlets and minimal reliance on major wholesale distributors. This model allows for margins that are reportedly 1.5 to 2 times higher than listed peers, despite significant infrastructure investment leading to high depreciation. The company's debt-to-equity ratio is currently below 1:1, an improvement from previous levels.
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