Hatsun Agro Strengthens Equity Company Mainly Operates In States - Dec 23, 2008

eanwhile, the BSE Sensex was down 220.13 points, or 2.22%, to 9,708.22.On BSE, 3,823 shares were traded in the counter. The stock had an average daily volume of 1,684 shares in the past one quarter.The stock hit a high of Rs 40 and a low of Rs 39.85 so far during the day. The stock hit a 52-week high of Rs 107.20 on 13 May 2008 and a 52-week low of Rs 34.55 on 2 December 2008.

The small-cap stock had underperformed the market over the past one month till 22 December 2008, declining 9.66% as compared to the Sensex's return of 11.36%. It had also underperformed the market in the past one quarter, falling 53.07% as compared to the Sensex's decline of 29.06%.

The company's current equity is Rs 6.80 crore. Face value per share is Rs 2.The current price of Rs 40 discounts the company's Q2 September 2008 annualized EPS of Rs 5.83, by a PE multiple of 6.86.The new facility will commence production in March 2009, well in time to take advantage of the peak sales in the ensuing summer. The company's existing facility is located in Red Hills, north part of Chennai, Tamil Nadu.

Hatsun Agro Product's net profit rose 16.2% to Rs 4.95 crore on 25.4% increase in net sales to Rs 262.93 crore in Q2 September 2008 over Q2 September 2007.The company is engaged in manufacturing and selling milk and milk products and ice creams. The company mainly operates in Tamil Nadu, Karnataka and West Bengal states.