Heritage Foods FY19 revenue up by 5.95% at INR 2514.75 crore

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FY19 PAT was at Rs. 82.59 crore, as compared to Rs. 62.73 crore in FY18.

Heritage Foods Ltd., one of the leading private dairy players in India, has declared its financial results for the fourth quarter ended March 31, 2019.

Q4 FY19 Consolidated Results:

• Revenues from operations were at Rs. 635.03 crore as compared to Rs. 561.63 crore in Q4FY18, registered a growth of 13.07%
• PBIT was at Rs. 37.42 crore in Q4FY19
• Profit after tax was at Rs. 20.16 crore in Q4 FY19

FY19 Consolidated Results:

• Revenues from operations were at Rs. 2514.75 crore as compared to Rs. 2373.42 crore in FY18, registered a growth of 5.95%
• PBIT was at Rs.149.40 crore, as against Rs. 108.14crore in FY18, registered a growth of 38.15%
• Profit after tax was at Rs. 82.59 crore, as compared to Rs. 62.73 crore in FY18

The company has recommended Rs. 2 per share i.e. 40% of dividend on a face value of Rs. 5 per share.

Business highlights:

Commenting on the results, Brahmani Nara, Executive Director said “We have expanded our value added products basket during the current year by launching new range of health drinks Ragi and Sabja Lassi. Our new plant near Mumbai for manufacturing of flavoured yogurt and deserts, which is a joint venture with leading French Dairy major Novandie should be ready during the current financial year and expecting good traction in revenues from these high value added products from next financial year onwards”

Presently Heritage’s milk products have market presence in Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharastra, Odisha, NCR Delhi, Haryana, Rajasthan, Punjab, Uttarakhand, Himachal Pradesh, Uttar Pradesh and Madhya Pradesh. It has total renewable energy generation capacity of 10 MW from both Solar and Wind for captive consumption of its dairy factories.