Heritage Foods Ltd., a prominent dairy company in India, reported strong financial performance in both the fourth quarter (Q4FY24) and the full fiscal year 2024 (FY24).
Q4FY24 Financial Highlights:
Revenue: ₹950.6 crore (16.3% YoY growth)
EBITDA: ₹70.2 crore (67.5% YoY growth)
EBITDA Margin: 7.39% (226 bps YoY growth)
PAT: ₹40.5 crore (126.3% YoY growth)
FY24 Financial Highlights:
Revenue: ₹37,939 million (17.1% YoY growth)
EBITDA: ₹2,095 million (51.5% YoY growth)
EBITDA Margin: 5.52% (125 bps YoY growth)
PAT: ₹1,065 million (83.6% YoY growth)
Key Growth Drivers:
Increased Demand: Strong demand for value-added products (VAP) and focus on premium milk products contributed to revenue growth.
Improved Profitability: Enhanced operating leverage, cost optimization measures, and higher VAP contribution led to improved EBITDA and PAT margins.
Expansion: The company expanded its distribution network and product portfolio, further driving growth.
Management Commentary:
The management expressed satisfaction with the company's robust performance and attributed the growth to the focus on VAP, premium milk products, and successful expansion strategies. They also highlighted the company's commitment to innovation and sustainability.
Future Outlook:
Heritage Foods Ltd. is well-positioned for continued growth with a strong product portfolio, an expanding distribution network, and a focus on innovation. The company is expected to continue its growth trajectory in the coming years, capitalizing on the growing demand for dairy products in India.
For further information and analysis, you can refer to the following resources:
Heritage Foods Investor Relations: https://www.heritagefoods.in/quarterlyfinancials
ICICI Direct Analysis: https://www.icicidirect.com/research/equity/rapid-results/heritage-foods-ltd
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