Heritage Foods Limited · NSE:HERITGFOOD
Heritage Foods — Q4 FY24 Earnings Presentation
23 slides from Heritage Foods's earnings presentation, May 31, 2024
Slide 1: Stock exchange cover letter - Investor Presentation
Ref: SECT: STOC: 46-24 May 31, 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: 5195
Slide 2: Earnings Presentation Q4-FY24 / FY24
Earnings Presentation Q4-FY24 / FY24
Slide 3: Snapshot
2 Snapshot Fully Integrated Dairy Business Rich Legacy of 32 Years Highly Qualified and Experienced Leadership Wide Presence Across 12 States Team and Independent Board Strong Distribution Network with Strong Corporate Governance Standards Omni Channel Presence +1.5 Mn Households Served Daily 5 Year
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 DAIRY FOODS DAIRY FATS SWEETS DRINKABLES HERITAGE NUTRIVET (SUBSIDIARY) ICE CREAMS HERITAGE NOVANDIE (JV)
Slide 6: Geographical Footprint
5 Geographical Footprint Haryana Milk and Milk Products Sales - 12 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 infrastructure, bulk coolers, chilling centers. 1 5 fresh products while focusing on efficient capital management. Increase the share of
Slide 8: Financial Overview Q4-FY24 / FY24
Financial Overview Q4-FY24 / FY24 Financial Overview Heritage Foods Limited 7
Slide 9: Q4-FY24 / FY24 Consolidated Financial Highlights
8 Q4-FY24 / FY24 Consolidated Financial Highlights Q4-FY24 Performance Operational Highlights • Average milk procurement for Q4-FY24 was at 1.59 Mn litres per day (+11.32% YoY). And the average milk procurement prices for Q4-FY24 INR 9,506 Mn INR 702 Mn 7.39% dropped to Rs.41.70/Lt (down -7.70% YoY)
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 (%) 9,78
Slide 11: Q4-FY24 New Products Launches
10 Q4-FY24 New Products Launches Creating new and unique propositions in Fresh Milk to make the existing portfolio robust and profitable Bhubaneswar market Sweet Curd and entry through Gold Gold milk launch for Flavored curd for an milk and Happiness Chennai points auspicious beginning Alepnvie Vibe
Slide 12: Key Marketing Campaigns
11 Key Marketing Campaigns Driving awareness, association and consumption through moments marketing and occasion marketing approach • Alpenvie Vibez #whereismyrose Valentine’s Day Digtial campaign (Feb – Mar’24) • New 360 degree Paneer Campaign - “Change your Daily meal” targeting in-home consumptio
Slide 13: Quarterly Segmental Revenue
12 Quarterly Segmental Revenue Milk Revenue (INR in Mn) Value Added Products (INR in Mn) 5,576 5,534 2,818 5,183 2,313 2,445 Q4-FY23 Q3-FY24 Q4-FY24 Q4-FY23 Q3-FY24 Q4-FY24 Fat Products (INR in Mn) Ice-cream Revenue (INR in Mn) 936 199 711 152 146 377 Q4-FY23 Q3-FY24 Q4-FY24 Q4-FY23 Q3-FY24 Q4-FY24
Slide 14: Annual Segmental Revenue
13 Annual Segmental Revenue Milk Revenue (INR in Mn) Value Added Products (INR in Mn) 11,063 22,190 9,322 20,518 FY23 FY24 FY23 FY24 Fat Products (INR in Mn) Ice-cream Revenue (INR in Mn) 761 3,046 550 1,501 FY23 FY24 FY23 FY24
Slide 15: Quarterly Consolidated Financial Performance
14 Quarterly Consolidated Financial Performance Particulars (INR Mn) Q4-FY24 Q3-FY24 Q-o-Q Q4-FY23 Y-o-Y Operating Income 9,506 9,411 1.0% 8,176 16.3% Expenses 8,804 8,891 (1.0)% 7,757 13.5% EBITDA 702 520 35.0% 419 67.5% EBITDA Margins (%) 7.39% 5.52% 187 BPS 5.12% 226 BPS Depreciation 157 155 1.3%
Slide 16: Annual Consolidated Financial Performance
15 Annual Consolidated Financial Performance Particulars (INR Mn) FY24 FY23 Y-o-Y Operating Income 37,939 32,407 17.1% Expenses 35,844 31,024 15.5% EBITDA 2,095 1,383 51.5% EBITDA Margins (%) 5.52% 4.27% 125 BPS Depreciation 608 562 8.2% Finance Cost 91 39 133.3% Other Income 120 120 0.0% Share of P
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 FY24 Operating Income 27,259 24,731 26,813 32,407 37,939 Expenses 25,974 22,062 24,905 31,024 35,844 EBIDTA 1,285 2,669 1,908 1,383 2,095 EBIDTA Margins (%) 4.71% 10.79% 7.12% 4.27% 5.52% Depreciation 501 462 522 56
Slide 19: Historical Consolidated Balance Sheet
18 Historical Consolidated Balance Sheet Particulars (INR Mn) FY22 FY23 FY24 Particulars (INR Mn) FY22 FY23 FY24 Equity And Liability Assets Equity Share Capital 232 464 464 Non-Current Assets Property, Plant and Equipment 5,705 6,133 6,968 Reserve and Surplus 6,344 6,795 7,618 Capital WIP 74 199 20
Slide 20: Historical Consolidated Financial Performance
19 Historical Consolidated Financial Performance Revenue (INR Mn) & Gross Margins (%) EBITDA (INR Mn) & Margins (%) PAT (INR Mn) & Margins (%) 37,939 3000 2,669 2000 32,407 1,483 27,259 2500 1,065 26,813 2,095 1500 961 24,731 1,908 6.00% 2000 1000 580 3.58% 1,285 1,383 500 2.81% 1500 0 1.79% 25.7% 2
Slide 21: Capital Market Data
20 Capital Market Data 1 Year Stock Performance up to 31st March, 2024 Market Data as on 31st March, 2024 140% Shareholder % Shareholding 120% 100% Face Value 5.0 80% Market Price 336.9 60% 40% 52 Week H/L 354.3 / 144.1 20% 0% Market Capitalization (Mn) 31,267.6 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Se
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