The Hindu Business Line : Hatsun Agro net more than doubles; to pay 25% interim

Chennai, Oct. 31 Hatsun Agro Product Ltd, one of the largest private sector dairy players, has announced investments to strengthen its milk procurement and processing operations.

During the quarter ended September 30, 2007, the company has posted 40 per cent increase in sales for the quarter ended September 30, 2007, over the corresponding period last year and net profit has more than doubled. It has recommended an interim dividend of Rs 2.50 (25 per cent) a share of Rs 10 for 2007-08.

According to Mr R.G. Chandramogan, Chairman and Managing Director, the company will invest over Rs 50 crore in a 60-tonne milk powder plant that is to be commissioned by August 2008. This will double its milk powder capacity and make it a dominant player in the export market.

On milk processing, the company is upgrading its Madurai packing centre to a dairy with a capacity to handle over 1-1.4 lakh litres milk a day. The company has invested over Rs 9 crore in this facility.

At Honnali, Karnataka, Hatsun has set up a Rs 6-crore dairy with a capacity to handle about one-lakh litres milk a day. The objective of infrastructure expansion is to strengthen its milk procurement and processing capacity.

The company is also expanding the number of chilling centres to ensure that the milk procured is chilled within 24 hours and packed. It has 38 chilling stations in Tamil Nadu and Karnataka. Soon this will be increased to 53 chilling centres to handle the same quantity of milk, Mr Chandramogan said.

The company markets milk in the brand name Arokya and Arun brand of ice creams, apart from a range of dairy products including ghee, curd rice and paneer.

More Stories on : Food & Dairy Products | Dividend Announcement

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page