Heritage Foods Limited · NSE:HERITGFOOD
Heritage Foods — Q3 FY24 Earnings Presentation
23 slides from Heritage Foods's earnings presentation, Jan 30, 2024
Slide 1: Stock exchange cover letter for investor presentation
Ref: SECT: STOC: 10-24 30th January, 2024 To To The Secretary The Manager, BSE Limited Listing Department, Phiroze Jeejeebhoy Towers, National Stock Exchange of India Limited Dalal Street, Exchange Plaza, C-1, G Block, Bandra-Kurla Mumbai - 400 001 Complex, Bandra (East), Mumbai – 400 051 Scrip Code
Slide 2: Earnings Presentation Q3 / 9M-FY24
Earnings Presentation Q3 / 9M-FY24
Slide 3: Snapshot
2 Snapshot Fully Integrated Dairy Business Rich Legacy of 31 Years Highly Qualified and Experienced Leadership Wide Presence Across 11 States Team and Independent Board Strong Distribution Network with Strong Corporate Governance Standards Omni Channel Presence +1.5 Mn Households Served Daily 10 Yea
Slide 4: Company Overview
3 Company Overview • Founded in 1992 with the objective to serve the farming community in India, Heritage Foods is India’s one of the leading integrated Dairy companies. Consolidated Revenue (INR Mn) • Over the span of 3 decades, Heritage Foods has not only stayed true to its values and mission but
Slide 5: Product Portfolio
4 Product Portfolio Milk Value Added Products Fat Products Animal Nutrition Heritage Nutrivet – Subsidiary Ice-creams Yogurt - Mamie Yova Heritage Novandie – Joint Venture
Slide 6: Geographical Footprint
5 Geographical Footprint Haryana Milk and Milk Products Sales - 11 Milk Procurement - 9 States States Rai Telangana Maharashtra Kalluru Narket pally Sangvi Manor Karnataka Uppal Shamirpet Andhra Pradesh Yadavanahalli Sindhanur Tamil Nadu Pammaru Bayyavaram B.Kothakota Vadamadurai Gokul Bobbili
Slide 7: Future Growth Strategy
6 Future Growth Strategy Increase Milk Procurement: By investing Aspire to be Nationally recognized brand: For healthy & prudently in village level milk collection 5 fresh products while focusing on efficient capital infrastructure, bulk coolers, chilling centers. 1 management. Increase the share of
Slide 8: Q3 / 9M-FY24 Financial Overview
Financial Overview Q3 / 9M-FY24 Financial Overview Heritage Foods Limited 7
Slide 9: Q3 / 9M-FY24 Consolidated Financial Highlights
8 Q3 / 9M-FY24 Consolidated Financial Highlights Q3-FY24 Performance Operational Highlights • Average milk procurement was at 1.63 Mn litres per day (MLPD), INR 9,411 Mn INR 520 Mn 5.52% registering a growth of 14.29% YoY Revenue from Operations EBITDA EBITDA Margin • Average milk procurement price
Slide 10: Quarterly Performance
9 Quarterly Performance Consistent growth, with both Milk and Value-added products growing faster than industry average. Value-added products growth and Profitability has steadily improved over the last many quarters. Quarterly Revenues (INR Mn) & Y-o-Y Growth (%) PBT (INR Mn) & PBT Margins (%) 9786
Slide 11: Q3-FY24 New Products Launches
10 Q3-FY24 New Products Launches Creating new and unique propositions in Fresh Milk to make the existing portfolio robust and profitable Bringing pure goodness form the village in the form of “Tastiest and creamiest milk” in the country for Hyderabad Market Unique Fat mix of 5.5% introduced Unique p
Slide 12: Key Marketing Campaigns
11 Key Marketing Campaigns Driving awareness, association and consumption through moments marketing and occasion marketing approach • Multimedia Festival campaign for key festivities – Navratri, Dussehra, Diwali, Christmas • Associate sponsorship of Big • My heritage, My pride season 2 Boss Telugu S
Slide 13: Quarterly Segmental Revenue
12 Quarterly Segmental Revenue Milk Revenue (INR in Mn) Value Added Products (INR in Mn) 5,711 5,576 2,579 2,445 5,183 1,985 Q3-FY23 Q2-FY24 Q3-FY24 Q3-FY23 Q2-FY24 Q3-FY24 Fat Products (INR in Mn) Ice-cream Revenue (INR in Mn) 1,086 156 146 936 99 401 Q3-FY23 Q2-FY24 Q3-FY24 Q3-FY23 Q2-FY24 Q3-FY24
Slide 14: YTD Segmental Revenue
13 YTD Segmental Revenue Milk Revenue (INR in Mn) Value Added Products (INR in Mn) 16,656 8,245 15,334 7,009 9M-FY23 9M-FY24 9M-FY23 9M-FY24 Fat Products (INR in Mn) Ice-cream Revenue (INR in Mn) 2,335 562 399 1,124 9M-FY23 9M-FY24 9M-FY23 9M-FY24
Slide 15: Quarterly Consolidated Financial Performance
14 Quarterly Consolidated Financial Performance Particulars (INR Mn) Q3-FY24 Q2-FY24 Q-o-Q Q3-FY23 Y-o-Y Operating Income 9,411 9,786 (3.8)% 7,860 19.7% Expenses 8,891 9,315 (4.6)% 7,534 18.0% EBITDA 520 471 10.4% 326 59.5% EBITDA Margins (%) 5.52% 4.81% 71 Bps 4.15% 137 Bps Depreciation 155 150 3.3
Slide 16: YTD Consolidated Financial Performance
15 YTD Consolidated Financial Performance Particulars (INR Mn) 9M-FY24 9M-FY23 Y-o-Y Operating Income 28,433 24,231 17.3% Expenses 27,039 23,268 16.2% EBITDA 1,394 963 44.8% EBITDA Margins (%) 4.90% 3.97% 93 Bps Depreciation 452 415 8.9% Finance Cost 64 15 - Other Income 74 87 (14.9)% Share of Profi
Slide 17: Historical Financial Overview
Financial Overview Historical Financial Overview Heritage Foods Limited 16
Slide 18: Historical Consolidated Income Statement
17 Historical Consolidated Income Statement Particulars (INR Mn) FY20 FY21 FY22 FY23 9M-FY24 Operating Income 27,259 24,731 26,813 32,407 28,433 Expenses 25,974 22,062 24,905 31,024 27,039 EBIDTA 1,285 2,669 1,908 1,383 1,394 EBIDTA Margins (%) 4.71% 10.79% 7.12% 4.27% 4.90% Depreciation 501 462 522
Slide 19: Historical Consolidated Balance Sheet
18 Historical Consolidated Balance Sheet Particulars (INR Mn) FY22 FY23 H1-FY24 Particulars (INR Mn) FY22 FY23 H1-FY24 Equity And Liability Assets Equity Share Capital 232 464 464 Non-Current Assets Property, Plant and Equipment 5,705 6,133 6,274 Reserve and Surplus 6,344 6,795 6,953 Capital WIP 74
Slide 20: Historical Consolidated Financial Performance
19 Historical Consolidated Financial Performance Revenue (INR Mn) & Gross Margins (%) EBITDA (INR Mn) & Margins (%) PAT (INR Mn) & Margins (%) 32,407 3000 2,669 2000 27,259 26,813 28,433 1,483 25,148 2500 1500 826 961 24,731 661 1,851 1,908 3.28% 6.00% 2000 1000 580 3.58% 1,285 1,383 1,394 500 1500
Slide 21: Capital Market Data
20 Capital Market Data 1 Year Stock Performance up to 31st December, 2023 Market Data as on 31st December, 2023 Shareholder % Shareholding 60% 40% Face Value 5.0 20% CMP 303.7 0% 52 Week H/L 303.7 / 137.0 -20% -40% Market Capitalization (Mn) 28,182.1 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23
Slide 22: Disclaimer
21 Disclaimer Heritage Foods Limited: The information contained in this presentation is provided by Heritage Foods (“the Company”), to you solely for your reference. This document is being given solely for your information and for your use and may not be retained by you and neither this presentation
Slide 23: Thank You
Thank You