Heritage foods limited consolidated financial results for Q4FY20 & FY20

27-05-2020 Wed 18:52 | Local | Press Release

Net Revenues up by 8.4% to Rs 2725.90 crore for FY20

Hyderabad, May 27, 2020: Heritage Foods Ltd., one of the leading private dairy players in India, has declared its financial results for the quarter ended March 2020.

Consolidated Q4FY20 Results:

Revenues from operations grown by 2.77% to Rs 652.65 crore as compared to Rs 635.03 crore in Q4FY 19
EBIDTA was at Rs 27.92 crore
Profit after tax (PAT) was at Rs (209.92) crore
Profit after adjustments of gain due to changes in the fair value of derivative liabilities and loss due to changes in the FVTPL equity securities stands at Rs. 10.17 crore

Consolidated FY20 Results:

Revenue from operations increased by 8.40% to Rs 2725.90 crore as compared to Rs 2514.75 crore
EBIDTA was at Rs 135.59 crore
Profit after tax (PAT) was at Rs (168.72) crore
Profit after adjustments of gain due to changes in the fair value of derivative liabilities and loss due to changes in the FVTPL equity securities stands at Rs. 63.74 crore

The Board of directors of the company has recommended a dividend of Rs. 2.50 per share, which is 50% of the face value of Rs. 5 per share for the financial year ending March 31, 2020, subject to shareholders' approval.

Commenting on the results, Mrs. Brahmani Nara, Executive Director, said, “We have seen a fairly good growth rate of 8.4% growth in our dairy business during the last financial year, on account of expanding product range and increased thrust on taking the products to more households across the country.

She further said that “As the company is considered for handling the "Essential Commodities" as per the notification issued by Ministry of Home Affairs (MHA) for the supply of Milk and Milk Products to the public, the pandemic has not had any material adverse impact on the company's business, although out of home sales of milk and value-added products have come down because of the lockdown. Transportation has also been impacted to some extent due to the absenteeism of drivers. The situation is improving and we foresee normal operations in this segment too by the end of this quarter. However, the availability of raw materials and the supply chain of the company are not affected”.

She further said that “the company has taken utmost care of its staff and workforce during the current period and maintained proper hygiene in all our offices and factories. We have ensured an uninterrupted supply of products across the markets through our efficient supply chain”.