HATSUN AGRO PRODUCT LTD.

Hatsun Agro Products Limited was erstwhile incorporated as a Private Limited Company in March, 1986 as 'Hatsun Milk Food Private Limited'. The Company was promoted by R. G. Chandramogan. In April 1986, the Company was admitted as a Partner in Chandramogan & Co., a Partnership Firm, promoted by the same promoter. During the same month, Chandramogan & Co. was dissolved and all the assets and liabilities of the firm vested with the company, except the Arun brand name which was vested with R G Chandramogan. In 1987, the Company acquired the 'Arun' brand name, subject to a payment of 1% royalty on the company's gross ice cream sales turnover. The Company became a Public Limited Company in August, 1995 and the Company name changed from Hatsun Milk Food Limited to Hatsun Agro Product Limited on 7 April 1998. The Company is the largest Private Sector Dairy, manufacturing, processing and marketing Ice Creams, Milk and Milk products such as Curd, Ghee, SMP etc., Ready to Eat products and also Cattle Feed. The Company sells its products under the brands viz. Arun Ice Creams, Arokya Milk, Hatsun Curd, Hatsun Paneer, Hatsun Ghee, Hatsun Dairy Whitener and IBACO. The Company distributes its various products viz., Ice Creams, Milk and Milk Products through its 'HAP Daily' Stores numbering about 3000, situated in various strategic locations across Tamilnadu, Andhra Pradesh, Telengana, Karnataka, Kerala and Maharashtra. Besides the above, it operates own outlets under the brand and style of 'IBACO' to sell Ice Creams and Chocolates and 'OYALO' to sell its Ready to Eat Products. Till April 1995, the company was carrying on its manufacturing activities. It scrapped its manufacturing facilities at Tolgate unit, since the facilities became old and outlived its utilities. The company has put up a 250-kVA windmill for power generation. Hatsun came out with a public issue in January 1996. The Company has diversified its activities and entered into production and sale of Toor Dhall and Urad Dhall under the brand name 'Apurva'. Hatsun Milk Products Limited was merged with the Company with retrospective effect from 1st April, 1998 vide Order of High Court dated 18 February, 1999 and the process of amalgamation was completed on 26 February 1999. Ajith Dairy Industries too merged with the Company. The Company amalgamated Hatsun Foods Company Ltd. During 2000-2001, the Company's second dairy plant was commissioned at Belgaum. In 2007, it launched a new format of ice cream parlour called Arun Unlimited Parlour' and commissioned dairy plants at Madurai in 2010. In 2012, Company launched a new premium ice cream parlour format called IBACO'. During the year, it commissioned dairy plants at Thalaivasal in Tamil Nadu, a milk processing plant at Honnali, near Davengere, Karanataka and commenced commercial production at its curd plant situated at Vellichandai, Dharmapuri district in Tamil Nadu. In 2013, Company acquired the assets of a cattle feed plant from SKM Egg Products Export (India) Limited; dairy business of Jyothi Dairy Private Limited in 2014; feed mill unit belonging to VKS Farms Private Limited, Coimbatore in 2015. On 6 March 2017, Company commissioned wind power plants with 24 MW capacity at Tuticorin district, Tamil Nadu, commissioned an automated packaging film unit, a greenfield project at Walajabad near Chennai and started commercial production in October 2017. In September 2017, the Company commissioned its 17th Plant by setting up an automated plastic film extrusion-cum-flexo printing plant at Walajabad in Kanchipuram. In addition, it spent over Rs 14 Crores during 2018-19 on erection of solar rooftop installations totaling to 3.6 MW at its various plants. In June, 2019, it took over a 100 tonnes-per-day cattle feed unit of Madhur Pashu Aahar, a partnership firm belonging to a doctor couple, at Chandolewadi in Solapur's Sangola taluka. HAP's mega ice-cream cold store in Noyyal, Karur District, was commissioned in October 2019. In 2020, it launched a new product, Hatsun Cow Milk, HAP Ice Cream Cakes were launched in 2021. In 2022, it launched a number of delicious products like ice cream cakes and kulfis made available in all HAP daily stores. It expanded Cattle Feed capacity in its Sangola Plant with an installed capacity of 6000 MT. In 2023-24, the Windmills business of the Company was sold via slump sale as a going concern on July 5, 2023. The Company expanded its reach with over 3850 HAP Daily outlets in FY24. The Company acquired the entire Share Capital (31,69,056 equity shares of Rs10/- each and 16,06,372 compulsorily convertible preference shares of Rs 10/- each) of Milk Mantra by discharging the Purchase Consideration of Rs 233 Crores between 27th January, 2025 to 25th March, 2025 and upon acquisition of the said Shares, Milk Mantra became the Wholly Owned Subsidiary of the Company in FY 2024-25. The Company expanded its reach through 4,000+ HAP Daily outlets, which have traditionally been strong in Tamil Nadu, Pondicherry, Karnataka, Andhra Pradesh, and Telangana.