The net profit was at Rs 328 million as compared to Rs 539 million in Q2 FY2021
Heritage Foods, a leading Indian private dairy player, announced its financial results for the second quarter and half year ended on September 30, 2021.
During the Q2 FY2022 consolidated results, revenue from operations was at Rs 6,703 million during the quarter; up by 9.9 per cent YoY. The EBIDTA stood at Rs 637 million as compared to Rs 873 million in Q2 FY2021; EBITDA Margin stood at 9.5 per cent in Q2 FY2021. The net profit was at Rs 328 million as compared to Rs 539 million in Q2 FY2021.
The Board of Directors has proposed an interim dividend of Rs 2.50 per equity share (50 per cent of the face value of Rs 5 per equity share) for FY 2022.
During H1 FY2022 consolidated results, the revenue from operations was at Rs 13,184 million during H1 FY2022; up by 5.6 per cent YoY. The EBIDTA stood at INR 1,158 million as compared to Rs 1,432 million in H1 FY2021; EBITDA Margin stood at 8.8 per cent in H1 FY2021. The net profit was at Rs 631 million as compared to Rs 832 million in H1 FY2021.
Average milk procurement during Q2 FY2022 was at 1.3 million litres per day (MLPD) compared to 1.2 MLPD in Q2 FY2021. The average milk sales during Q2 FY2022 was 1.04 MLPD compared to 0.96 MLPD in Q2 FY2021. Curd sales during Q2 FY2022 were at 279.7 metric tonnes per day (MTPD) compared to 215.0 MTPD in Q2 FY2021; registering a growth of 30.1 per cent YoY. The revenue from value-added products (VAP) grew by 31.6 per cent YoY to Rs 1,696 million in Q2 FY2022. VAP contributed 25.7 per cent to the overall dairy revenue during Q2 FY2022 as against 21.7 per cent in Q2 FY2021.
Heritage Foods also has appointed Muthu Raju Paravasa Raju Vijay Kumar as a Non-Executive Independent Director.
