Top Mutual Funds
Packaged Foods company Heritage Foods announced consolidated Q1FY25 results:
Financial Highlights:
- Revenue: Rs 10,327 million YoY, Growth: 11.8%
- EBITDA: Rs 938 million YoY, Growth: 133%
- EBITDA Margin: 9.08% YoY, Growth: 472 Bps
- PAT: Rs 584 million YoY, Growth: 249%
Operational Highlights:
- The business registered a growth of 11.8%, and crossed Rs 10,000 million revenue mark in a quarter for the first time.
- Momentum in Value Added Products continued in Q1 with a robust growth of 19.9% reaching Rs 4,228 million in revenues, with VAP contribution at 41.5% compared to 38.6% in Q1FY24.
- Milk sales volumes continued its steady growth in Q1, registering a growth by 4.26% YoY to 1.13 MLPD, and average Milk selling prices averaged Rs 54.81/Lt, up 0.40%
- Average milk procurement for Q1-FY25 was at 1.62 million liters per day (MLPD), registering a growth of 6.66% YoY, whereas average milk procurement prices for Q1FY25 decreased by Rs 3.47/Lt (-7.75% YoY) over Q1-FY24.
- Summer launches included 3 new variants of Lassi – Sweet, Mango & Strawberry and 3 new variants of ball ice-creams under Alpenvie brand – Cotton Candy, Banana Strawberry and Bubble Gum. We also launched long shelf-life milk in UHT cartons of various sizes.
- Ahead of festive season, we launched a range of healthy, yet indulgent range of Laddus under ‘Heritage Truly Good’ brand in 3 variants – Ghee Besan, Ghee Jawar & Ghee Millet Laddu.
- Heritage Nutrivet Limited, the Wholly Owned Subsidiary Company had a robust top-line growth of 29% YoY to Rs 422 million and an exponential growth of 363% in bottom line to Rs 29.2 million.
- Heritage Novandie Foods Private Limited, the Joint Venture Company has reduced losses by Rs 2.3 million YoY (Rs 33.36 million to Rs 31.06 Mn).
Commenting on the performance of the Company, Brahmani Nara – Executive Director, said: “With the building blocks of our business falling in place, our performance in Q1FY25 has shown that we can sustain our momentum ahead of the industry even when faced with adverse weather, as we saw in the second half of this quarter. In this quarter, we stepped up our retail availability into more stores, expanded our distribution into more cities and recruited more consumers than ever before. Our sharply targeted marketing campaigns have delivered strong uptick in top-of-mind awareness and faster offtake for our brands across retail shelves. This gives us confidence as we enter the upcoming festive season.”
HERITAGE FOODS SHARES FAQ'S
