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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.
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