Heritage Foods' reports consolidated FY2021 PAT at INR 1,483 million

- Consolidated FY2021 Revenue of INR 24,731 million

- Value-added products contribute 24.2% to the dairy revenue

- The Board recommends final dividend of 100%

HYDERABAD, India, May 19, 2021 /PRNewswire/ -- Heritage Foods Ltd., one of the leading private dairy players in India, today announced its financial results for the fourth quarter and the year ended on March 31, 2021.

Q4FY2021 Results - Consolidated

• Revenue from operations was at INR 6,194 million as compared to INR 6,526 million in Q4FY2020
• EBIDTA was at INR 470 million as compared to INR 277 million in Q4FY2020; registering a growth of 70%
• EBITDA Margin improved by 334 bps to 7.6% as against 4.3% in Q4FY2020
• Net Profit was at INR 244 million as compared to INR (2,099) million in Q4FY2020

FY2021 Results - Consolidated

• Revenue from operations was at INR 24,731 million as compared to INR 27,259 million in FY2020.
• EBIDTA was at INR 2,712 million as compared to INR 1,354 million in FY2020, registering a significant growth of 100.3%.
• EBITDA Margin improved by 600 bps to 11% as against 5% in FY2020.  
• Net Profit was at INR 1,483 million as compared to INR (1,694) million in FY2020

Operations Highlights

• Average milk procurement during Q4FY2021 was at 1.2 million litre per day (MLPD) compared to 1.3 MLPD in Q4FY2020.
• Average milk sales during Q4FY2021 was 1.0 MLPD compared to 1.1 MLPD in Q4FY2020
• Curd sales during Q4FY2021 was at 278.6 metric tonnes per day (MTPD) compared to 294.6 MTPD in Q4FY2020
• Revenue from Value added products (VAP) at INR 1,608 million contributed 26.6% to the overall dairy revenue during Q4FY2021. Their contribution for FY2021 at INR 5,825 million stood at 24.2% total annual dairy revenue as against 27.0% in FY2020.

Commenting on the results, Mrs. Brahmani Nara, Executive Director, said, "As a result of improved profitability for FY2021, Heritage Foods has managed to reduce its debt significantly, and the Board has recommended a final dividend of 100%. The company continues with its efforts of enhancing value-added product portfolio and launched Mozzarella and processed cheese, fresh cream, cool café drink, and further expanded its ice cream portfolio."

She further added, "The Company has taken utmost care of its staff and work force during the current period and has ensured uninterrupted supply of products across the markets through the efficient supply chain."

Other Updates

• Installed the facilities of R&D Lab at IDA Uppal, Hyderabad-500039, Telangana, India for innovations.
• Commencement of commercial production at Manor Plant, Maharashtra

New products launch in Q4FY2021:

• Mozzarella and processed Cheese
• Cool Cafe drink (Cold Coffee)
• Fresh Cream
• 4 Cone ice-creams (Double Chocolate & Butterscotch variant)

Awards / accolades

Heritage Foods won the Prestigious National Energy Conservation Awards (NECA - 2020) in Dairy Sector for the year 2020:

• 1st Prize won by Gokul Plant, Charndragiri (M), Chittoor Dist-517101, Andhra Pradesh, India
• 2nd Prize won by Bayyavaram Plant, Kasimakota (M), Visakhapatnam District-531031, Andhra Pradesh, India
• Certificate of Merit to Bengaluru Plant, Yadavanhalli (V), Anekal Taluk, Bengaluru South-562107, Karnataka, India

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 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 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 6,223 distributors and agents. The Company is ESG responsible and has total renewable energy generation capacity of 10.39 MW from both Solar and Wind for captive consumption within its dairy factories.

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

For more information contact
Umakanta Barik
Company Secretary & Compliance Officer
Heritage Foods Limited
[email protected]

Hiral Keniya
Sr. Consultant
Dickenson World
[email protected]

Media Contact:
Mehul Mehta
[email protected]  
Director
Dickenson World