ICICI Securities rates Hatsun Agro a Buy with Rs 1,190 target
ICICI Securities issued a buy recommendation on dairy and FMCG player Hatsun Agro Products with a target price of Rs 1,190, per its April 23, 2024 research report. The medium-term call signals analyst confidence in the branded dairy operator's outlook.
What happened
ICICI Securities issued a buy recommendation on Indian dairy/FMCG player Hatsun Agro Products with a target price of Rs 1190, per its April 23, 2024 research
Key facts
- Rs 1190 target
- April 23, 2024
Why this matters
Renewed analyst confidence and a constructive valuation backdrop strengthen Hatsun Agro's position for capacity expansion, regional acquisitions, or category extensions in branded dairy and FMCG.
What to watch
- Raw milk procurement price movements vs realization
- Ice cream/value-added dairy seasonal demand (summer peak)
- Quarterly EBITDA margin trajectory
- Monsoon outlook affecting feed and milk supply
- Competitive pricing actions from Amul, Nestle, regional players
- Watch for follow-on coverage initiations or target revisions from other brokerages
- Track Q4FY24/Q1FY25 results for milk procurement cost and value-added product mix trends
- Monitor management commentary on capacity expansion and distribution reach
- Observe institutional accumulation flows post-report