Heritage Foods Ltd posted a profit of ₹24.4 crore for the fourth quarter ended March 31, against a loss of ₹209.9 crore in Q4 of last fiscal.
The dairy company’s revenue from operations was at ₹619.4 crore, compared to ₹652.6 crore in Q4 FY20.
On a consolidated basis, the company posted a profit of ₹148.3 crore for the financial year ended March 31, against a loss of ₹169.4 crore in the previous fiscal.
The company’s revenue from the operations for FY21 was ₹2,473.1 crore (₹2,725.9 crore)
Revenue from Value Added Products (VAP) at ₹582.5 crore for FY21 stood at 24.2 per cent of total annual dairy revenue as against 27.0 per cent in FY20.
Brahmani Nara, Executive Director, in a regulatory statement to the BSE, 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 per cent. 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.”
The company has set up an R&D Lab at IDA Uppal in Hyderabad and commenced commercial production at Manor Plant, Maharashtra.
Heritage Foods has a renewable energy generation capacity of 10.39 MW from solar and wind for captive consumption within its dairy factories.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.