Heritage Foods' consolidated FY2022 revenue grows by 8% YoY at INR 26,813 million

• Value-added products contribute 26.3% to the dairy revenue 
• The Board recommends final dividend of 50%

HYDERABAD, India, May 30, 2022 /PRNewswire/ -- Heritage Foods Limited, a leading value-added and branded dairy products player in India, announced its financial results for FY2022 on May 27, 2022.

Q4 FY2022 Results - Consolidated

• Revenue from operations was at INR 6.959 million during the quarter. It grew by 12.4% YoY
• EBIDTA stood at INR 298 million in Q4 FY2022 as compared to INR 442 million in Q4 FY2021
• Net Profit during the quarter stood at INR 126 million as compared to INR 242 million in Q4 FY2021

FY2022 Results - Consolidated

• Revenue from operations was at INR 26,813 million during FY2022. It grew by 8.4% YoY
• EBIDTA stood at INR 1,848 million in FY2022 compared to INR 2,599 million in FY2021
• Net Profit during FY2022 stood at INR 965 million as compared to 1491 million in FY2021

Commenting on the results, Mrs. Brahmani Nara, Executive Director, said, "FY22 has been a challenging year for the economy with the Omicron disruption, widespread commodity and energy inflation and global supply chain and logistics constraints. Despite these headwinds, the Company demonstrated resilience and implemented strategic initiatives that focused on quality growth. Heritage Foods has continued its steady march in consistently delivering strong Revenue growth, derived from its Value-Added Product (VAP) portfolio expansion, widening distribution network, and a 'Debt Free' status with healthy liquidity. During the fourth quarter of the year, the Company launched several products across various its VAP categories, such as new pack formats of Frozen Desert in Vanilla, Butterscotch and Chocolate flavours, and the all-new 'easy-to-digest' A2 Fresh milk in selected markets. As a result, our Value-Added Products continued its growth momentum with strong double-digit numbers. Along with our product expansion, consumer reach and geographical expansion are of utmost priority. A key milestone in this endeavour was Heritage Novandie Foods entrance into the Bengaluru market during FY2022. Additionally, we introduced the Natural French probiotic yoghurts across all the geographies during the quarter."

New products introductions in Q4 FY2022:

• Launched Badam Charger

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, and immunity milk, among others, are consumed by more than 1.5 million households in 11 states across India. Heritage Foods enjoys strong brand affinity with its consumers and is primarily known for its product authenticity, quality and freshness. It also enjoys long-term relationships with over 0.3 million farmers and has a vast distribution network across the country. The Company is ESG responsible and has a total renewable energy generation capacity of 10.50 MW from both Solar and Wind for captive consumption within its dairy factories.

For more information about Heritage Foods, visit www.heritagefoods.in.