Heritage foods planning to enter into non dairy Food products market
Heritage Foods Ltd., one of the leading private dairy players in India, announced that its Board of Directors in a meeting held today has approved the Company’s proposed expansion into the Non-Dairy Food Products in the Premium Nutrition Segment.
Mr. Srideep Kesavan, Chief Executive Officer, Heritage Foods Limited, said, “Heritage Foods has been providing ‘Nutrition to Nation’ through its dairy products. The Company looks forward to extending the same philosophy through Non-Dairy Food Products in the Premium Nutrition Segment. This asset-light businesses will leverage Heritage Foods strong distribution network and Brand Trust to be part of consumers’ daily healthy food choices.”
“The proposed expansion into Non-Dairy Food Products in the Premium Nutrition Segment is in line with Heritage Foods’ vision to delight every home with fresh and healthy products, while empowering farmers. This move will not only improve Heritage Foods’ margin profile, but will also de-seasonalize the business, ensuring sustained value creation in the long run. Additionally, I am happy to share with you Heritage Foods has further strengthened its Balance Sheet by achieving debt-free status with effect from 1st November 2021 with the repayment of the remaining debt of Rs. 210 million,” added Mrs. N Brahmani, Executive Director, Heritage Foods Limited.
About Heritage Foods Limited:
Heritage Foods Limited (NSE: HERITGFOOD) (BSE: 519552), founded in the year 1992, is India’s leading value-added and branded dairy products company. It has a presence in the cattle feed business through its subsidiary, Heritage Nutrivet Limited (HNL).
Heritage Foods’ milk and milk products such as Curd, Ghee, Paneer, flavoured milk, immunity milk, among others, are consumed by more than 1.5 million households in 11 states across India. Heritage Foods enjoys a strong brand affinity with its consumers and is specially known for its product authenticity, quality and freshness. It also enjoys long-term relationships with over 0.3 million farmers and has a wide distribution network across the country, comprising 6,315 distributors and agents. The Company is ESG responsible and has a total renewable energy generation capacity of 10.39 MW from both Solar and Wind for captive consumption within its dairy factories.