Integrated Filing — IndAS

General information about company
Scrip Code	531531
NSE Symbol	HATSUN
MSEI Symbol	NOTLISTED
ISIN	INE473B01035
Name of company	HATSUN AGRO PRODUCT LIMITED
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-Apr-2024
Date of end of financial year	31-Mar-2025
Date of board meeting when results were approved	28-Apr-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	19-Apr-2025
Description of presentation currency	INR (in Actuals)
Reporting Type	Quarterly
Reporting Quarter	Fourth quarter
Nature of report standalone or consolidated	Standalone
Whether results are audited or unaudited for the quarter ended	Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Audited
Segment Reporting	Single segment
Description of single segment	Milk and Milk products
Start date and time of board meeting	28-Apr-2025   15:30:00
End date and time of board meeting	28-Apr-2025   17:30:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Declaration of unmodified opinion
Whether the company has any related party?	Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure?	Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public	NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure.	NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)?	No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company?	Yes
Latest Date on which RPT policy is updated	2023-05-09
Indicate Company website link for updated RPT policy of the Company	https://www.hap.in/policies.php
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter?	No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity?	No
There is no default on loans and debt securities by the company

Financial Results Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	22103300000	86672400000
	Other income	84300000	194700000
	Total income	22187600000	86867100000
2	Expenses
(a)	Cost of materials consumed	14416500000	58269300000
(b)	Purchases of stock-in-trade	12400000	49000000
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	969900000	1764000000
(d)	Employee benefit expense	654400000	2433100000
(e)	Finance costs	476700000	1816800000
(f)	Depreciation, depletion and amortisation expense	1213600000	4653000000
(f)	Other Expenses
1	Other Expenses	3770100000	14020400000
2	0	0	0
3	0	0	0
4	0	0	0
5	0	0	0
6	0	0	0
7	0	0	0
8	0	0	0
9	0	0	0
10	0	0	0
	Total other expenses	3770100000	14020400000
	Total expenses	21513600000	83005600000
3	Total profit before exceptional items and tax	674000000	3861500000
4	Exceptional items	0	0
5	Total profit before tax	674000000	3861500000
6	Tax expense
7	Current tax	131800000	1074900000
8	Deferred tax	45800000	-67800000
9	Total tax expenses	177600000	1007100000
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	496400000	2854400000
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
16	Total profit (loss) for period	496400000	2854400000
17	Other comprehensive income net of taxes	2700000	1700000
18	Total Comprehensive Income for the period	499100000	2856100000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent
	Total profit or loss, attributable to non-controlling interests
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent
	Total comprehensive income for the period attributable to owners of parent non-controlling interests
21	Details of equity share capital
	Paid-up equity share capital	222800000	222800000
	Face value of equity share capital	1	1
27	Details of debt securities
22	Reserves excluding revaluation reserve		17019300000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	2.23	12.81
	Diluted earnings (loss) per share from continuing operations	2.23	12.81
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	2.23	12.81
	Diluted earnings (loss) per share from continuing and discontinued operations	2.23	12.81
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		1 The Statement of Standalone Financial Results of Hatsun Agro Product Limited for the quarter and year ended March 31 2025 have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on April 28 2025 The statutory auditors have expressed an unmodified review conclusion on the financial results for the quarter ended March 31 2025 and have expressed an unmodified audit opinion on the financial results for the year ended March 31 2025 n n2 The Statement has been prepared in accordance with the Indian Accounting Standards prescribed under section 133 of the Companies Act 2013, read with relevant rules there under and in terms of the SEBI LODR Regulations 2015 as amended n n3 The financial results for the year ended March 31 2025 have been audited and for the quarter ended March 31 2025 have been reviewed by the statutory auditors of the Company The figures for the quarter ended March 31 2025 and quarter ended March 31 2024 are the balancing figures between the audited figures in respect of the financial year ended March 31 2025 and March 31 2024 respectively and published year-to-date figures for nine months ended December 31 2024 and December 31 2023 respectively which were subjected to limited review by the statutory auditors n n4 Based on the management approach as defined in Ind AS 108 Operating Segments the Chief Operating Decision Maker evaluates the Company performance and allocates resources based on analysis of various performance indicators by operating segments The Company operates in a single segment viz milk and milk products and hence segment information has not been separately disclosed n n5 During the current quarter pursuant to the approval of the Board of Directors the Company acquired the entire shareholding of Milk Mantra Dairy Private Limited from their existing shareholders for an aggregate cash consideration of Rs 233 crores Pursuant to the same MMDPL has become a subsidiary of the Company with effect from January 27 2025 Accordingly the Company has prepared Consolidated Financial Statements for the quarter and year ended March 31 2025 n n6 The Standalone Balance Sheet as at March 31 2025 and the Statement of Standalone Cash Flows for the year ended March 31 2025 are provided as Annexures to this Statement

Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-Apr-2024
Date of end of reporting period		31-Mar-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
	Assets
1	Non-current assets
	Property, plant and equipment	30367800000
	Capital work-in-progress	2446500000
	Investment property	0
	Goodwill	77400000
	Other intangible assets	26400000
	Intangible assets under development	0
	Biological assets other than bearer plants	0
	Investments accounted for using equity method	0
	Non-current financial assets
	Non-current investments	2667900000
	Trade receivables, non-current	0
	Loans, non-current	0
	Other non-current financial assets	682300000
	Total non-current financial assets	3350200000
	Deferred tax assets (net)	151100000
	Other non-current assets	529200000
	Total non-current assets	36948600000
2	Current assets
	Inventories	9871700000
	Current financial asset
	Current investments	0
	Trade receivables, current	281600000
	Cash and cash equivalents	500600000
	Bank balance other than cash and cash equivalents	117800000
	Loans, current	0
	Other current financial assets	149600000
	Total current financial assets	1049600000
	Current tax assets (net)	0
	Other current assets	446200000
	Total current assets	11367500000
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	48316100000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	222800000
	Other equity	17019300000
	Total equity attributable to owners of parent	17242100000
	Non controlling interest
	Total equity	17242100000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	9344400000
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises	0
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	0
	Total Trade payable	0
	Other non-current financial liabilities	3587500000
	Total non-current financial liabilities	12931900000
	Provisions, non-current	233600000
	Deferred tax liabilities (net)	0
	Deferred government grants, Non-current	0
	Other non-current liabilities	117000000
	Total non-current liabilities	13282500000
	Current liabilities
	Current financial liabilities
	Borrowings, current	11620700000
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	116300000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	2292300000
	Total Trade payable	2408600000
	Other current financial liabilities	3139100000
	Total current financial liabilities	17168400000
	Other current liabilities	433600000
	Provisions, current	189500000
	Current tax liabilities (Net)	0
	Deferred government grants, Current	0
	Total current liabilities	17791500000
3	Liabilities directly associated with assets in disposal group classified as held for sale	0
4	Regulatory deferral account credit balances and related deferred tax liability	0
	Total liabilities	31074000000
	Total equity and liabilites	48316100000
	Disclosure of notes on assets and liabilities

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-Jan-2025	01-Apr-2024
Date of end of reporting period		31-Mar-2025	31-Mar-2025
Whether accounts are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
	Total Segment Revenue
	Less: Inter segment revenue
	Revenue from operations
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
	Total Profit before tax
	i. Finance cost
	ii. Other Unallocable Expenditure net off Unallocable income
	Profit before tax
3	(Segment Asset - Segment Liabilities)
	Segment Asset
	Total Segment Asset
	Un-allocable Assets	null	null
	Net Segment Asset	null	null
4	Segment Liabilities
	Segment Liabilities
	Total Segment Liabilities
	Un-allocable Liabilities	null	null
	Net Segment Liabilities	null	null
	Disclosure of notes on segments

Other Comprehensive Income
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
	Total Amount of items that will not be reclassified to profit and loss
2	Income tax relating to items that will not be reclassified to profit or loss	-3500000	-2200000
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss	800000	500000
5	Total Other comprehensive income	2700000	1700000

Cash flow statement, indirect
Particulars				Year ended (dd-mm-yyyy)
A	Date of start of reporting period			2024-04-01
B	Date of end of reporting period			2025-03-31
C	Whether results are audited or unaudited			Audited
D	Nature of report standalone or consolidated			Standalone
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			3861500000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			1816800000
	Adjustments for decrease (increase) in inventories			4651500000
	Adjustments for decrease (increase) in trade receivables, current			-181000000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			52900000
	Adjustments for decrease (increase) in other non-current assets			0
	Adjustments for other financial assets, non-current			-19400000
	Adjustments for other financial assets, current			0
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			594100000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			0
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			4653000000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			80000000
	Adjustments for provisions, non-current			0
	Adjustments for other financial liabilities, current			146600000
	Adjustments for other financial liabilities, non-current			0
	Adjustments for unrealised foreign exchange losses gains			0
	Adjustments for dividend income			0
	Adjustments for interest income			0
	Adjustments for share-based payments			0
	Adjustments for fair value losses (gains)			-27900000
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			-40200000
	Other adjustments to reconcile profit (loss)			0
	Other adjustments for non-cash items			0
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			11726400000
	Net cash flows from (used in) operations			15587900000
	Dividends received			0
	Interest paid			0
	Interest received			-39000000
	Income taxes paid (refund)			1118400000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			14430500000
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses			0
	Cash flows used in obtaining control of subsidiaries or other businesses			0
	Other cash receipts from sales of equity or debt instruments of other entities			0
	Other cash payments to acquire equity or debt instruments of other entities			2330000000
	Other cash receipts from sales of interests in joint ventures			0
	Other cash payments to acquire interests in joint ventures			0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships			0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships			0
	Proceeds from sales of property, plant and equipment			123400000
	Purchase of property, plant and equipment			6532600000
	Proceeds from sales of investment property			0
	Purchase of investment property			0
	Proceeds from sales of intangible assets			0
	Purchase of intangible assets			0
	Proceeds from sales of intangible assets under development			0
	Purchase of intangible assets under development			0
	Proceeds from sales of goodwill			0
	Purchase of goodwill			0
	Proceeds from biological assets other than bearer plants			0
	Purchase of biological assets other than bearer plants			0
	Proceeds from government grants			0
	Proceeds from sales of other long-term assets			5398300000
	Purchase of other long-term assets			5403900000
	Cash advances and loans made to other parties			0
	Cash receipts from repayment of advances and loans made to other parties			0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts			0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts			0
	Dividends received			0
	Interest received			39000000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-92900000
	Net cash flows from (used in) investing activities	-8798700000
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries			0
	Payments from changes in ownership interests in subsidiaries			0
	Proceeds from issuing shares			0
	Proceeds from issuing other equity instruments			0
	Payments to acquire or redeem entity's shares			0
	Payments of other equity instruments			0
	Proceeds from exercise of stock options			0
	Proceeds from issuing debentures notes bonds etc			0
	Proceeds from borrowings			5256700000
	Repayments of borrowings			7007100000
	Payments of lease liabilities			1094800000
	Dividends paid			1336500000
	Interest paid			1456800000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) financing activities			-5638500000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			-6700000
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents			0
	Net increase (decrease) in cash and cash equivalents			-6700000
	Cash and cash equivalents cash flow statement at beginning of period			507300000
	Cash and cash equivalents cash flow statement at end of period			500600000