Heritage Foods’ consolidated Q2FY22 revenue surges 10% at Rs6,703 million; Stock ends 4.5% higher

The Board recommends an interim dividend of 50%; Appoints Muthu Raju Paravasa Raju Vijay Kumar as a Non-Executive Independent Director.

Oct 22, 2021 04:10 IST India Infoline News Service

Heritage Foods
Heritage Foods Ltd., one of the leading private dairy players in India, on Thursday announced its financial results for the second quarter and half year ended on September 30, 2021.

The company’s consolidated revenue from operations was at Rs6,703 million during the quarter; up by 9.9% yoy. EBIDTA stood at Rs637 million as compared to Rs873 million in Q2FY21; EBITDA Margin stood at 9.5% in Q2FY21. Net Profit was at Rs328 million as compared to Rs539 million in Q2FY21.

Heritage Foods Ltd ended at Rs505.35 per piece up by Rs21.4 or 4.42% from its previous closing of Rs483.95 per piece on the BSE.

The Board of Directors has proposed an Interim Dividend of Rs2.50 per equity share (50% of Face Value of INR 5 per equity share) for FY22.

For the first half of FY22, Revenue from operations was at Rs13,184 million during H1FY22; up by 5.6% yoy. EBIDTA stood at Rs1,158 million as compared to Rs1,432 million in H1FY21; EBITDA Margin stood at 8.8% in H1FY21. Net Profit was at Rs631 million as compared to Rs832 million in H1FY21.

“Heritage Foods has recorded strong recovery post Covid wave-2, by continuing to deliver strong top-line growth, expanding its value-added product portfolio and strengthened its Balance Sheet. During the quarter, the Company expanded its portfolio of Value Added Products (VAP) with the launch of Heritage Kesar Shrikhand and Heritage Amrakhand in Mumbai and Hyderabad markets. The Company also expanded its presence in paneer category with the launch of Heritage Malai Paneer Fresh in Mumbai.

During the quarter, the company’s revenue from VAP surged by 31.6% yoy to Rs1,696 million and its share of total revenue contribution increased by 4% to 25.7%, vis-a-vis Q2 of previous year. Heritage Foods is progressing well towards achieving ‘debt-free’ status by the end of FY22,” Brahmani Nara, Executive Director, said.

“Heritage Foods has appointed Sri. Muthu Raju Paravasa Raju Vijay Kumar as a Non-Executive Independent Director and looks forward to gain from his rich knowledge and experience in accomplishing the Company’s long-term goals and vision.” added Mrs. Nara.

Related Story

Open Free Demat Account (Rs699)
Open ZERO Brokerage Demat Account

  • 0

    Delivery Brokerage for Lifetime

  • 20

    Per order for Intraday, F&O, Currency & Commodity