Heritage Foods Limited

Connecting with millennials Together, we create e ffi ciencies, develop innovations, and help people thrive the pandemic. We fostered innovation and increased our repertoire to create newer markets and provide a better connection with millennials. We developed products that enabled our consumers to lead better lives and improve nutrition in their daily diets. This apart, we are constantly strengthening our ability to provide consumers with health and wellness. We are well responding to our consumers’ evolving needs and delighting homes with high-quality value-added products. During the year, we strengthened our value-added product portfolio with several new launches – such as the immunity- boosting Ginger, Tulsi and Turmeric milk variants. Given the health and hygiene concerns during the COVID-19 situation, we satiated consumers’ demand for packaged products. It is my sense that in the long run, amid the new normal that the crisis has ushered in, the marketplace will see wider adoption of branded milk and milk products by a growing expanse of young and well-informed consumers. Millennials share their opinions and buying habits online via social media platforms and on other sites. We provide such platforms and initiated e-Commerce last year to connect with those consumers who are evolving themselves to purchase products online. Leveraging growth opportunities We are happy to share with you that our yoghurt facility is now complete. We started commercial operations and launched our fi rst set of product i.e. Fat Yoghurt. Also, with the stake sale in Future Retail and debt repayment, the Company’s focus and investments in dairy business is likely to increase. We also initiated several cost-saving measures to improve our margins. We also maintained our focus on technology-enabled integrated and a consistent scale-up in milk procurement, which has gone up 34% in the last three years. Maintaining quality Being a responsible organization, Heritage Foods implemented safety measures for ensuring well-being of its employees and the consumers. We also practiced and believed in maintaining high-quality standard of milk and milk products, as per ISO and FSSAI norms. We are collecting hygienic quality of milk for processing milk and milk products that are safe and suitable for our consumers. To achieve this quality, good hygiene practices are being applied throughout the dairy chain. We took adequate food safety measures across all the processing plants during the pandemic, with the entire workforce at factories including vehicle crew being screened daily. Every employee/worker entering the plant was scanned at the security gate. Security sta ff and plant personnel were trained on important hygiene parameters. IT IS MY SENSE THAT IN THE LONG RUN, AMID THE NEW NORMAL THAT THE CRISIS HAS USHERED IN, THE MARKETPLACE WILL SEE WIDER ADOPTION OF BRANDED MILK ANDMILK PRODUCTS BY A GROWING EXPANSE OF YOUNG ANDWELL - INFORMED CONSUMERS. Heritage Foods Limited 22