Heritage Foods Limited · NSE:HERITGFOOD
Heritage Foods — Q2 FY24 Earnings Presentation
21 slides from Heritage Foods's earnings presentation, Oct 19, 2023
Slide 1: Heritage Foods Limited exchange filing cover letter
Ref: SECT: STOC: 107-23 19th October, 2023 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 Cod
Slide 2: Earnings Presentation Q2 / H1-FY24
Earnings Presentation Q2 / H1-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 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 32,407 also
Slide 5: Product Portfolio
4 Product Portfolio Milk Value Added Products Animal Nutrition Fat Products Heritage Nutrivet – Subsidiary Yogurt - Mamie Yova Ice-creams 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 Chitt
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: Q2 / H1-FY24 Financial Overview
Financial Overview Q2 / H1-FY24 Financial Overview Heritage Foods Limited 7
Slide 9: Q2 / H1-FY24 Consolidated Financial Highlights
8 Q2 / H1-FY24 Consolidated Financial Highlights Q2-FY24 Performance Operational Highlights • Growth in Revenues driven by business expansion in new geographies and channels as well as significant growth in VAP INR 9,786 Mn INR 471 Mn 4.81% Revenue from Operations EBITDA EBITDA Margin • Continued st
Slide 10: Q2-FY24 New Products Launches
9 Q2-FY24 New Products Launches • Launched Premium Buffalo Milk with 7% fat in Hyderabad branded “Goodness from Village” celebrating farmers on the pack • Launched Cow Ghee 50ml & 100ml Jars primarily as a pooja pack, gaining traction in temple markets and in e- Commerce
Slide 11: Quarterly Segmental Revenue
10 Quarterly Segmental Revenue Milk Revenue (INR in Mn) Value Added Products (INR in Mn) 5,711 3,221 5,262 5,369 2,579 2,186 Q2-FY23 Q1-FY24 Q2-FY24 Q2-FY23 Q1-FY24 Q2-FY24 Fat Products (INR in Mn) Ice-cream Revenue (INR in Mn) 1,086 260 156 465 108 313 Q2-FY23 Q1-FY24 Q2-FY24 Q2-FY23 Q1-FY24 Q2-FY2
Slide 12: Half Yearly Segmental Revenue
11 Half Yearly Segmental Revenue Milk Revenue (INR in Mn) Value Added Products (INR in Mn) 11,080 5,800 10,152 5,025 H1-FY23 H1-FY24 H1-FY23 H1-FY24 Fat Products (INR in Mn) Ice-cream Revenue (INR in Mn) 416 1,399 299 723 H1-FY23 H1-FY24 H1-FY23 H1-FY24
Slide 13: Quarterly Consolidated Financial Performance
12 Quarterly Consolidated Financial Performance Particulars (INR Mn) Q2-FY24 Q1-FY24 Q-o-Q Q2-FY23 Y-o-Y Operating Income 9,786 9,237 5.9% 8,162 19.9% Expenses 9,315 8,834 5.4% 7,763 20.0% EBITDA 471 403 17.0% 399 18.1% EBITDA Margins (%) 4.81% 4.36% 45 Bps 4.88% (8) Bps Depreciation 150 146 2.7% 13
Slide 14: Half Yearly Consolidated Financial Performance
13 Half Yearly Consolidated Financial Performance Particulars (INR Mn) H1-FY24 H1-FY23 Y-o-Y Operating Income 19,022 16,371 16.2% Expenses 18,149 15,733 15.4% EBITDA 873 638 36.8% EBITDA Margins (%) 4.59% 3.90% 69 Bps Depreciation 296 273 8.4% Finance Cost 46 10 360.0% Other Income 44 55 (20.0)% Sha
Slide 15: Historical Financial Overview
Financial Overview Historical Financial Overview Heritage Foods Limited 14
Slide 16: Historical Consolidated Income Statement
15 Historical Consolidated Income Statement Particulars (INR Mn) FY20 FY21 FY22 FY23 H1-FY24 Operating Income 27,259 24,731 26,813 32,407 19,022 Expenses 25,974 22,062 24,905 31,024 18,149 EBIDTA 1,285 2,669 1,908 1,383 873 EBIDTA Margins (%) 4.71% 10.79% 7.12% 4.27% 4.59% Depreciation 501 462 522 5
Slide 17: Historical Consolidated Balance Sheet
16 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 18: Historical Consolidated Financial Performance
17 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 1,483 25,148 2500 1500 826 961 24,731 1,851 1,908 3.28% 6.00% 2000 1000 580 392 19,022 3.58% 1,285 1,383 500 1500 0 1.79
Slide 19: Capital Market Data
18 Capital Market Data 1 Year Stock Performance up to 30th September, 2023 Market Data as on 30th September, 2023 Shareholder % Shareholding 60% 40% Face Value 5.0 20% CMP 231.5 0% 52 Week H/L 287.2 / 135.7 -20% -40% Market Capitalization (Mn) 21,477.6 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-2
Slide 20: Disclaimer
19 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 21: Thank You
Thank You