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Making it count

Hatsun Agro Products' RG Chandramogan purchased ₹4.3 crore worth of shares, thus increasing his stake to 57.75%

India’s largest private dairy Hatsun Agro Products has gained a lot of traction in the market thanks to its expansion plans. The stock recently touched an all-time high of ₹380, posting 316% return in a three-year period. Taking advantage of the recent correction that saw the stock come down 2% year-till-date, founder and CMD RG Chandramogan purchased ₹4.3 crore worth of shares from the open market at an average price of ₹317.62, thus increasing his personal holding from 57.62% to 57.75%. The company is strengthening its position in the dairy industry with greater reach, an expanded range of products and branding. To achieve this, the company made a few acquisitions in 2014, which have started to show results. Apart from dairy products, the company has also entered the packaged ready-to-eat food business. Higher utilisation, lower milk prices and contribution from value-added products are all helping the company grow. Hatsun’s profits, which dipped to ₹4 crore in the March quarter of last year, have consistently improved to ₹12.89 crore in the December quarter. Not surprising, then, that Chandramogan knows it is time to milk the gains.