Hatsun Agro Product rose 1.78% to Rs 40 at 12:46 IST on BSE, on reports it would double its previously planned ice cream production capacity at its new facility coming up in Salem, Tamil Nadu.
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 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.
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