Inflation hits milk segment; procurement price up 6% in Q3: Hatsun Agro Products

RG Chandramogan, chairman of Hatsun Agro, on Monday, said that inflation impacted the milk segment.

The dairy company reported healthy revenue for December 31, 2021-ended quarter even as its margin came under pressure.

Speaking in an interview to CNBC-TV18, Chandramogan said, “Inflation has already come into milk, last 6 years there was no major inflation except one year. Now inflation is there in milk by about 6 percent.”

On growth, he said, “In FY23, if there is no Omicron (a variant of COVID-19), we should be able to clock in more than 23-25 percent based on this year’s turnover.”

Talking about capacity, Chandramogan said, “Ice-cream has been the worst sufferer and will recover once COVID is down and curd can also give a better recovery. In milk, we have already expanded the capacity and we have also entered into new markets like Maharashtra. So penetration will start to happen with the new capacity we have built-in Hyderabad.”

For the entire interview, watch the video