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	Consolidated
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

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	Consolidated	Consolidated
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	22428500000	86997600000
	Other income	85200000	195600000
	Total income	22513700000	87193200000
2	Expenses
(a)	Cost of materials consumed	14649100000	58501900000
(b)	Purchases of stock-in-trade	15000000	51600000
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	968000000	1762100000
(d)	Employee benefit expense	694500000	2473200000
(e)	Finance costs	478800000	1818900000
(f)	Depreciation, depletion and amortisation expense	1265400000	4704800000
(f)	Other Expenses
1	Other Expenses	3857400000	14107700000
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	3857400000	14107700000
	Total expenses	21928200000	83420200000
3	Total profit before exceptional items and tax	585500000	3773000000
4	Exceptional items	0	0
5	Total profit before tax	585500000	3773000000
6	Tax expense
7	Current tax	131800000	1074900000
8	Deferred tax	23600000	-90000000
9	Total tax expenses	155400000	984900000
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	430100000	2788100000
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	430100000	2788100000
17	Other comprehensive income net of taxes	2500000	1500000
18	Total Comprehensive Income for the period	432600000	2789600000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent	0	0
	Total profit or loss, attributable to non-controlling interests	0	0
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	0	0
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	0	0
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		16952800000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	1.93	12.51
	Diluted earnings (loss) per share from continuing operations	1.93	12.51
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	1.93	12.51
	Diluted earnings (loss) per share from continuing and discontinued operations	1.93	12.51
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 Consolidated Financial Results of Hatsun Agro Product Limited and its Subsidiary Milk Mantra Dairy Private Limited for the quarter and year ended March 31, 2025 have been reviewed by the Audit Committee and approved by the Board of Directors of the Holding Company 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 Holding 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 Group performance and allocates resources based on analysis of various performance indicators by operating segments The Group 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 Holding 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 Holding Company with effect from January 27 2025 Accordingly the Holding Company has prepared Consolidated Financial Statements for the quarter and year ended March 31 2025 n nThe Holding Company has accounted for the above acquisition in accordance with IND AS 103 and has carried out a purchase price allocation using an independent expert based on which the Holding Company has accounted for the identified tangible and intangible assets and liabilities at their respective fair values and the resultant goodwill during the quarter and year ended March 31 2025 n n6 The Consolidated Balance Sheet as at March 31 2025 and the Statement of Consolidated Cash Flows for the year ended March 31 2025 are provided as Annexures to this Statement n n7 The figures for the quarters ended December 31 2024 and March 31 2024 and the year ended March 31 2024 represent the standalone financial results of the Holding Company for the relevant periods The figures for the quarter and year ended March 31 2025 include the financial results for the Holding Company and its Subsidiary Milk Mantra Dairy Private Limited Refer Note 5 Hence the reported numbers for the quarter and year ended March 31 2025 are not comparable with the other reported periods

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		Consolidated
	Assets
1	Non-current assets
	Property, plant and equipment	31070300000
	Capital work-in-progress	2843700000
	Investment property	0
	Goodwill	704600000
	Other intangible assets	960900000
	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	372200000
	Trade receivables, non-current	0
	Loans, non-current	0
	Other non-current financial assets	690000000
	Total non-current financial assets	1062200000
	Deferred tax assets (net)	110400000
	Other non-current assets	541200000
	Total non-current assets	37293300000
2	Current assets
	Inventories	9963100000
	Current financial asset
	Current investments	0
	Trade receivables, current	81600000
	Cash and cash equivalents	577300000
	Bank balance other than cash and cash equivalents	132800000
	Loans, current	0
	Other current financial assets	150400000
	Total current financial assets	942100000
	Current tax assets (net)	0
	Other current assets	450500000
	Total current assets	11355700000
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	48649000000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	222800000
	Other equity	16952800000
	Total equity attributable to owners of parent	17175600000
	Non controlling interest
	Total equity	17175600000
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	3624300000
	Total non-current financial liabilities	12968700000
	Provisions, non-current	247200000
	Deferred tax liabilities (net)	122200000
	Deferred government grants, Non-current	0
	Other non-current liabilities	117000000
	Total non-current liabilities	13455100000
	Current liabilities
	Current financial liabilities
	Borrowings, current	11620700000
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	124700000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	2402400000
	Total Trade payable	2527100000
	Other current financial liabilities	3224500000
	Total current financial liabilities	17372300000
	Other current liabilities	454600000
	Provisions, current	191400000
	Current tax liabilities (Net)	0
	Deferred government grants, Current	0
	Total current liabilities	18018300000
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	31473400000
	Total equity and liabilites	48649000000
	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		Consolidated	Consolidated
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	Consolidated	Consolidated
	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	-3300000	-2000000
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	2500000	1500000

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			Consolidated
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			3773000000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			1818900000
	Adjustments for decrease (increase) in inventories			4673700000
	Adjustments for decrease (increase) in trade receivables, current			22700000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			137900000
	Adjustments for decrease (increase) in other non-current assets			-79500000
	Adjustments for other financial assets, non-current			-40400000
	Adjustments for other financial assets, current			171900000
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			511800000
	Adjustments for increase (decrease) in trade payables, non-current			-50100000
	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			4704800000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			42900000
	Adjustments for provisions, non-current			38200000
	Adjustments for other financial liabilities, current			0
	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)			-25100000
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			-39500000
	Other adjustments to reconcile profit (loss)			-700000
	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)			11887500000
	Net cash flows from (used in) operations			15660500000
	Dividends received			0
	Interest paid			0
	Interest received			-40000000
	Income taxes paid (refund)			1118500000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			14502000000
	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			125600000
	Purchase of property, plant and equipment			6576900000
	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			40700000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-76800000
	Net cash flows from (used in) investing activities	-8823000000
	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			1096500000
	Dividends paid			1336500000
	Interest paid			1458100000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) financing activities			-5641500000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			37500000
	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			37500000
	Cash and cash equivalents cash flow statement at beginning of period			539800000
	Cash and cash equivalents cash flow statement at end of period			577300000