Shares of Hatsun Agro Product (HAP), a leading private sector dairy company in India on Friday gained over 1% after the company announced commercial production at its newly set up modern greenfield dairy processing plant in Solapur, Maharashtra.
The plant is the 19 manufacturing location for HAP that has a network of plants in four states of Tamil Nadu, AP, Telangana and Karnataka. The fully automated dairy plant, one of the technologically superior plants in the country is set up in 72 acres land at a cost of Rs 1300 million in Solapur district in Maharashtra. The plant follows latest design philosophy and has specialized imported equipments from Germany to process 6 lakh litres milk per day (LLPD).
Shares of Hatsun Agro Product are trading at Rs 721.80, up Rs 9.95, or 1.40% at the Bombay Stock Exchange (BSE) on Friday at 11:02 a.m.
The scrip has touched an intra-day high of Rs 735 and low of Rs 719.65. The total volume of shares traded at the BSE is 7,644.
Currently, the stock is trading down 18.22% from its 52-week high of Rs 889 and above 158.45% over the 52-week low of Rs 281.29.
The emphasis of the design is on employee safety, product hygiene and making products of finest quality. HAP has also set up a water pond inside the factory premises for harvesting rain water to the tune of 1.25 crore litres. This is a first in the region and the water saved can be fully treated and utilized for multiple purposes.
Hatsun Agro Products will manufacture milk, curd, butter milk, chaas, lassi, yoghurt and shrikhand at the new plant. HAP will market them under prestigious household brand names - 'Arokya' and 'Hatsun'. The total milk processing capacity of HAP now stands at 52.50 LLPD across all its manufacturing locations in 5 states.
HAP intends to manufacture a variety of products at this Solapur facility and will provide over 3,000 direct and indirect employment opportunities in the state. With the commencement of production at the facility, HAP further intends to expand its retail network through launch of more 'HAP Daily' outlets in various towns of Maharashtra & Goa.
