heritage foods strikes again

Heritage Foods achieved a revenue of Rs 2473.1 Crores in 2020-21 as against Rs 2725.9 Crore in 2019-20. The EBIDTA margins have improved to 11% from 5% in the previous year.The net profits have again became black at Rs 148.3 Crores in 2020-21 as against a loss of 169.4 crores in 2019-20.

The board of directors have recommended a 100% dividend to the shareholders in this year. Total contribution of value added products reached to 24.2% of the total revenue in FY 2021 as against 27% in 2019-20. The average milk procurement reduced from 1.3 Mill lpd in fourth quarter of FY 20 to 1.2 Mill LPD in last quarter of 20-21. The milk and curd sales have also dropped from 1.1 Mill LPD and 294.6 MTPD to 1,0 Mill LPD and 278.6 MTPD respectively during the same period. Value added products contributed to 26.6% in the last quarter of 2020-21.

As per Mrs. Brahmani Nara, Executive Director, the improved profitability in 2020-21 has led to reduce the debt of Heritage Foods significantly. The group has expanded successfully its portfolio of VADP with launch of Mozzarella and processed cheese, fresh cream, cool café drink, and also expanding its ice cream range.Installed the facilities of R&D Lab at IDA Uppal, Hyderabad-500039, Telangana, India for innovations.

The group has set up its own R&D innovation centre and began commercial operation of it’s Plant in Manor, Maharashtra.The group has a large pool of 3 lakh dairy farmers and has total renewable energy generation capacity of 10.39 MW from both Solar and Wind for captive consumption within its dairy factories.

Source : Edited and compiled by Team dairynews7x7.com