Shares of Hatsun Agro Products (NS: HAPL ) Ltd gained 6% on Thursday’s trading session from the previous close price of Rs 883.80. The stock gained after the board of directors approved a sale of the windmill division.
According to the exchange filing, A company’s board of directors approved the proposal for a “Slump Sale” transfer of all associated assets and liabilities to the potential buyer on mutually agreed terms.
At 13:20 hrs, the stock was trading at Rs 928.35 on the NSE, up 4.95 percent from its previous close.
Hatsun Agro Products Ltd is the largest private-sector dairy company in India.The company is engaged in dairy sector manufacturing and marketing Milk and Milk products, They are the only company in India using Bactofuge Technology to clarify liquid milk.
Based on standalone statements, The company’s net profit fell from 46 crores to 24 crores from Q3 to Q4. However, income from operations increased by 5.5% to Rs 1,789 crore from Rs 1,695 crore in the previous quarter.
On a YoY comparison of the metrics, the revenue significantly improved from Rs 6,370 crores during FY 21-22 to Rs 7,246 crores in FY 22-23. For the same time period, The Net profit declined from Rs 248 crores to Rs 165 crores and debt to equity stands at 1.01 as of FY23.
In the past six months, the stock gained only 2.09 percent from Rs 909.30 to current levels, and in the previous year, the stock gained 7.01 percent from Rs 867.45 to current levels.
As per the shareholding pattern, promoters of the company hold a 73.11 percent stake and Domestic institutional investors hold an 8.4 percent stake in the company for FY 22-23.
Written by Omkar CThe post Stock gains 6% as company plans to sell its windmill division; Do you own it? appeared first on Trade Brains.
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