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Heritage Foods (India) Ltd has announced a bonus issue of shares in the ratio of one bonus share for every share of Rs 10 each held. The dairy and retail company has secured shareholders’ nod to change its name to Heritage Foods Ltd. It’s net profit for the first quarter ended June 30, increased to Rs 15.05 crore from Rs 8.44 crore. It logged revenues of Rs 435.57 crore (Rs 414.03 crore). The company has decided to set up another ice cream plant in Chittoor district of Andhra Pradesh. The record date for the bonus issue is July 29. The company’s scrip rose 6 per cent during the day to close at Rs 519.20 on the BSE on Thursday.
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