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”.