Hatsun Agro Shares in Focus: NCLT Clears Merger with Milk Mantra Dairy

Hatsun Agro Product Ltd on Wednesday, March 11, announced that the National Company Law Tribunal (NCLT), Cuttack Bench, has approved the merger of its wholly owned subsidiary, Milk Mantra Dairy Private Ltd, with the parent company. The amalgamation will take effect from the appointed date of April 1, 2025, according to a regulatory filing. Following the development, HatsunAgro shares opened lower ~1%, reaching a day low of ₹910.55, after opening at ₹917.90

Merger to Streamline Group Structure

The integration is aimed at simplifying the group’s corporate structure, unlocking operational efficiencies, and enhancing financial flexibility for the combined entity. Milk Mantra Dairy is fully owned by Hatsun Agro Product, with the parent holding the entire share capital directly and through its nominees, the filing noted.

As part of the approved scheme, all assets, liabilities, and obligations of Milk Mantra Dairy will be transferred to Hatsun Agro Product without requiring additional legal formalities. The merger will not involve the issuance of new shares, so Hatsun Agro Product's capital structure will remain unchanged.

What Next?

The amalgamation will become effective once both companies submit certified copies of the NCLT order to the Registrar of Companies. Hatsun Agro Product said it will notify stock exchanges once this filing process is completed.

Also Read: Reliance Industries Share Price Slips as Company Steps Up LPG Output to Support Domestic Supply

HatsunAgro Q3FY26 Financial Performance

Hatsun Agro Product, one of India’s leading private dairy companies, reported strong consolidated results for the quarter ended December 31, 2025.

The company posted revenue from operations of ₹2,363.72 crore, up from ₹2,009.75 crore in the same quarter a year earlier. Profit after tax rose to ₹60.58 crore, compared with ₹40.94 crore in the corresponding period last year.

The performance was supported by steady consumer demand across key dairy categories as well as stable milk procurement from the company’s extensive farmer network.

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