{"id":485,"date":"2026-03-26T03:40:54","date_gmt":"2026-03-25T18:40:54","guid":{"rendered":"https:\/\/india-marketing.jp\/india-company\/milk-mantra\/"},"modified":"2026-09-20T03:28:43","modified_gmt":"2026-09-19T18:28:43","slug":"milk-mantra","status":"publish","type":"india-company","link":"https:\/\/india-marketing.jp\/en\/india-company\/milk-mantra\/","title":{"rendered":"Milk Mantra | The Odisha dairy absorbed into Hatsun Agro"},"content":{"rendered":"
\nThis article is based on what we could verify As of September 19, 2026<\/strong> This page is based on the disclosures and news reports from each company that we were able to confirm as of that date. Amounts in the text follow the notation commonly used in India, with \u20b91 crore = 10 million rupees, and yen figures are approximations calculated at a little over 1.7 yen to the rupee. Store counts, funding raised, and results at Indian companies change over short periods, so when making a business decision, please check the latest information in primary sources such as each company's own announcements.\n<\/div>\n\n\n

Milk Mantra is a dairy that operated the Milky Moo brand in Odisha. In January 2025, Hatsun Agro Product, the largest dairy in South India, acquired all of its shares for \u20b9233 crore, and it was merged in that April.<\/p>\n

Company profile<\/h2>\n\n\n\n\n\n\n\n\n\n
Item<\/th>\nDetails<\/th>\n<\/tr>\n
Established<\/td>\nAugust 2009<\/td>\n<\/tr>\n
Headquarters<\/td>\nBhubaneswar (Odisha)<\/td>\n<\/tr>\n
Founder<\/td>\nSrikumar Misra (formerly of the Tata Group), Rashima Misra, Ashit Mahapatra<\/td>\n<\/tr>\n
Revenue<\/td>\n\u20b9279 crore (fiscal year ending March 2024)<\/td>\n<\/tr>\n
Brand<\/td>\nMilky Moo (milk, yogurt, cheese, shakes)<\/td>\n<\/tr>\n
Processing sites<\/td>\nTwo locations within Odisha<\/td>\n<\/tr>\n
Current status<\/td>\nHatsun Agro Product (HAP) acquired all shares in January 2025 for \u20b9233 crore. Merged into HAP effective April 1, 2025, and no longer exists as an independent legal entity<\/td>\n<\/tr>\n<\/table>\n

Hatsun in the south bought the east<\/h2>\n

On January 20, 2025, the board of Hatsun Agro Product (HAP) approved the acquisition of all shares in Milk Mantra for \u20b9233 crore, and the acquisition was completed on January 27. It was then merged in effective April 1, 2025, and Milk Mantra Dairy Private Limited no longer remains as a legal entity.<\/p>\n

HAP is headquartered in Chennai and is strong in South and West India with brands such as Arun, Ibaco, Hatsun, and Arokya. It had no base in East India. Milk Mantra had two processing sites in Odisha and a milk collection network, and had secured shelf space within the state with the Milky Moo brand. What HAP bought was less the facilities than the collection network and the shelf space.<\/p>\n

Why regional dairies rarely survive on their own<\/h2>\n

In dairy, the milk collection area and the processing capacity determine the scale of the business. Even a company that is strong within one state loses out on both procurement prices and advertising once national brands come in. Milk Mantra reached a sale just as it posted revenue of \u20b9279 crore in the fiscal year ending March 2024 and turned EBITDA positive for the first time, at 6%. Being taken in by a major player just short of profitability is not unusual for regional dairies in India.<\/p>\n

When a Japanese company sources dairy products in India, mid-sized brands in a given state may change parent companies within a few years. It is better to confirm in advance who the counterparty to the contract will be and where responsibility for supply moves.<\/p>\n

Reference Information<\/h2>\n