Heritage Foods Q4 net up 41% at Rs 18 cr

Hyderabad-based Heritage Foods Limited has reported a 41 per cent increase in consolidated net profit at Rs 18.04 crore for the quarter ended March, 2016 as compared to Rs 12.74 crore in the corresponding quarter previous year.

The company's improved profitability comes from the dairy business, which contributed little over 70 per cent to the top line in the quarter under review.

Heritage Foods' consolidated income grew 16.30 per cent to Rs 632.70 crore in the quarter ended March, 2016 from Rs 544.01 crore in the year ago period. Net profit for the full year ended March, 2016 stood at Rs 55.42 crore, an increase of 95.47 per cent over Rs 28.35 crore in the previous year. Total income from operations rose by 14.84 per cent to Rs 2,380.58 crore from Rs 2072.96 crore in the previous year.

The board of directors of the company has recommended a dividend of Rs 3 per share of the face value of Rs 10 each subject to the approval of the shareholders.

Heritage Foods to acquire assets of Teja Dairy

Hyderabad-based Heritage Foods Ltd has agreed to acquire assets of Teja Dairy in Raichur district of Karnataka, it said in a stock market disclosure.

The company will invest Rs 60 lakh ($89,000) to acquire the assets that include a dairy plant which has a processing capacity of 20,000 litres per day, it said.
The firm, owned by family members of Andhra Pradesh chief minister N Chandrababu Naidu, has five business verticals—dairy, retail, agriculture, bakery and renewable energy.

In the dairy segment, it has a capacity of 1.4 million litres per day and produces milk and dairy products, including fresh milk, curd, buttermilk, lassi, ice cream, paneer, table butter, milk powder, flavoured milk, ultra high temperature (UHT) milk and dairy whitener.

The company, founded in 1992, has also started dairy operations in the National Capital Region (NCR), Mumbai and Pune markets, away from its stronghold in the South.

Earlier, it had acquired a dairy plant at Sangvi in Maharashtra, which supplies to customers in Mumbai and Pune.

India’s fragmented dairy market, which is dominated by local milkmen, regional brands and milk cooperative Amul, has been seeing signs of consolidation.

French giant Groupe Lactalis SA recently bought the milk products business of Mumbai-listed Anik Industries Ltd for Rs 470 crore ($70 million) in its second acquisition in India in as many years that would help it go neck and neck with India's top private dairy Hatsun Agro Product Ltd in terms of revenues.

India’s milk production grew 4.3 per cent to nearly 134 billion litres in 2013-14 and was projected at 140 billion litres in 2014-15, according to rating and research firm CRISIL. Output in India has been growing faster than in other large milk-producing nations such as the US and China. On the flip side, consumption in the country has been growing at 5 per cent, leaving a gap between demand and supply.

Wind Power Unit commissioned by Heritage foods in AP

Heritage Foods, a prominent Public Listed Company in India has commissioned its first wind power plant of 2.1 NW capacity in Vajrakarur mandal of Anantapur district, Andhra Pradesh.  Since its inception in the year 1992, the company has achieved commendable success and established benchmarks of quality and excellence in its field. The company has expanded its areas of operation with five-business divisions-Dairy, Retail, Agri, Bakery and Renewable Energy.

The plant is expected generate 5 million units per annum to be consumed at the Gokul and Chittoor dairy plants of the company under captive open access arrangement through AP Transco. It is the first Wind Power Plant of Heritage Foods for captive consumption at Chinahothur Village. The project has been executed by Suzlon Group within 90 days and connected to the grid. It's S90-97 90 Meters Hub Height has the potential to generate more Elect Units than regular WEGs one of the latest generation technology available in Indian Wind Power Market.  A 2.34 mw solar PV unit was commissioned by the dairy and retail company earlier for captive consumption in Medak district Telangana.

Suzlon Group Company will maintain the plant for the initial period of 10 years. The successful commissioning has largely been possible due to the unstinted efforts of Suzlon Group Company. The company’s professional approach helped it to achieve the plant commissioning within 90 Days connected to AP TRANSCO 33KV Pool

Heritage Foods bags four prizes at Great Indian Ice-cream contest’16

Heritage Foods recently announced that its Dairy Division has been awarded in four categories at the “The Great Indian Ice Cream Contest 2016 - Season 5” conducted by Indian Dairy Association and DuPont Nutrition & Health on 11th February, 2016, in Gurgaon, Delhi.

The four categories are first prize on All India level Gold Award in Kool Kids, Award for Excellent product in the Best in Class in Kool Kids, Silver Award for Vanilla i.e. 2nd prize on All India level, and Silver Award for Chocolate i.e. 2nd prize on All India level.

The contest has received an overwhelming response from more than 90 participants and was judged by luminaries from the Indian Ice CreamIndustry.

The panel of judges experienced what’s inside the most scrumptious Ice Cream recipes to find out how the creations measured up in terms of quality and inventiveness. All the participants came up with the most novel recipes, some of them being recreations and amalgamations of older recipes. It was a tough fight and Heritage Foods is proud to have received awards under four categories.

Speaking on the occasion, Smt. N. Bhuvaneswari, Vice Chairperson and Managing Director of the Company said that “Heritage Foods is committed efforts to improve further with dedication and responsibility towards sustainable growth”.

Heritage Foods Ltd. Board approves setting up of Wind Power Project in Andhra Pradesh

In a bid to contribute towards conserving the environment, Heritage Foods Ltd. has come up with plans of setting up a Wind Power Project in Andhra Pradesh. The company, which was established in 1992 by N. Chandrababu Naidu, has already established a solar farm for captive use in a region of Andhra Pradesh which is now in Telangana. The Solar unit serves state’s units and chilling plants.

This Wind Power Project is a part of the company’s Renewable Energy domain.  The Board of Directors of the company, in a meeting held on 17^th Dec, 2015, approved the proposal of setting  up 2.1 MW Wind Power Project in Andhra Pradesh for Captive Consumption. The appointed Turnkey contractor for setting up this 2.1 MW Plant M/s Suzlon Energy Limited.  

Official Spokesperson for Heritage Foods Ltd views the setting up of a Wind Power Plant in Andhra Pradesh as a very viable plan. With an increasing demand of power and limited conventional power sources, the world is looking for alternative ways to generate power. Wind Power Project has been conceptualized to furnish environment friendly power for captive use.

Heritage Foods Ltd. has been awarded Prize for “Conservation in Dairy Sector” for years 2008, 2010, 2012, 2014 and 2015

In terms of Regulation 30(5) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (“ the Regulations”) the key Managerial Personnel of the company Viz. Sri Umakanta Barik, Company Secretary & Compliance Officer, is authorized by the board of Directors to determine materially of an event and/ or information.

Mr. Umakanta is also authorized to make disclosure of Material event and / or information to the Stock Exchange(s) in terms of the Regulations.

Heritage Fresh catering the fresh needs of people

There are less market stores which work on farm-to-fork approach. This model guarantees the freshness of perishable items by utilizing the time and every single accessible asset by providing various opportunities to the farmers for their diligent work. Hyderabad based Heritage Fresh is such service provider which not only uses this methodology in its operations, but also works towards resourcefulness of all the perishable items. It is satisfying its customer base across 70 stores in Bangalore and Chennai apart from its home ground, Hyderabad.

Heritage Fresh is a retail chain owned by Heritage Foods, which is the biggest private division journal endeavor in South India. The guardian association, Heritage Groups was founded by Shri Nara Chandra Babu Naidu in 1992, with the end goal to spread happiness and promote health amongst Indian masses.

At the point when Heritage Fresh was set up just about 9 years back, individuals knew it with the name Fresh @ whose first store was opened in Hyderabad only.

When it comes to Heritage Foods Owners, the most renowned name people come across is Jagadish Krishnan, who is the Chief Operating Officer of Retail and Bakery Division at Heritage Foods Limited. He is contributing from the last 8 years in making the organization a successful endeavor subsequent to his joining.

Majority of sales of the Heritage Foods originates from perishable items including dairy, fruits and vegetables. Heritage Fresh has made an exceptional back-end interest in perishable sector as it has put more than Rs 300 crore in its retail business till now. The Heritage Fresh's turnover was Rs 327 crore in financial year 2012-2013 which is expected to cross Rs 400 crore before the end of current fonancial year.

Relationship Farming is the engagement model of farm-to-fork concept. This methodology spins around the development of farmers and progress of the same which is possible by providing them resourceful inputs. It likewise focuses on enhancing the productivity of farms along with farmers. After that the farmers are free to offer their products to Heritage Fresh or their preferred retailer.

Heritage Foods Ltd: another key player of the Indian Dairy Sector

June 5th, 1992 was the day when Heritage Foods Ltd. was incorporated. It is a public limited company founded by N. Chandra Babu Naidu. Heritage Foods (India) Ltd produces, processes and markets milk and various milk products. The Products offered by the company include milk, flavored milk, ghee, buttermilk, dairy whitener, skimmed milk powder and curd.

HeritageFoods has its cooling units situated in Andhra Pradesh at Challapalli, Narsipatnam and Ungutur with main dairy located at Kasipentla, Andhra Pradesh. This dairy has a capacity of producing approx 150,000 liters of milk per day. The company has a strict adherence to recommended quality standards. This is evident from the fact that Heritage Foods Limited has received ISO 9001 certification. Sold under the brand name ‘Heritage’, products of this company have garnered much popularity.

Company has a tie-up with farmers in Kolar, Karnataka, Chittor and Andhra Pradesh for the purpose of procurement and processing of milk and related products. With a huge market presence down Southern India sprawling over Kerala, Maharashtra, Andhra Pradesh, Tail Nadu and Karnataka, Heritage Foods Limited has become a bankable brand name for people. Also, the company has ventured into the retail sector to sells high quality groceries, fruits and vegetables to the consumers at competitive prices.

Presently, the company has around 90 such stores in India, out of which 4 are in Chennai, 19 in Hyderabad and 3 in Bengaluru. Heritage also has plans of investing Rs 170 crore in its core divisions as a part of expansion plan.  Presently, Heritage Foods Limited offers following products to the consumers.

     

v  Milk

v  Milk Products – Fresh

v  Milk Products - Long Shelf Life

v  Ice Cream

v  Beverages

v  Cleaning Aids

v  Daily Fresh Needs

v  General Merchandise

v  Instant Food

v  Ready Foods

v  Staples