Heritage Foods Limited

WE ARE ON AN EXCITING PHASE TO BUILD A BETTER FUTURE FOR OURSELVES AND TO RECORD RESPONSIBLE GROWTH AND VALUE CREATION. Looking to the future with positivity We are on an exciting phase to build a better future for ourselves and to record responsible growth and value creation. We remain well placed, underpinned by the B2C nature of our business and strong return ratios. As we move ahead in our journey of collective long-term growth and progress, our top agenda is a balanced mix of growth and pro fi tability, and sustenance of existing market share, led by our vision of a new and empowered tomorrow. Currently, being one of the private sector dairy enterprizes in southern India, our sustainable and responsible approach is to emerge as one of India’s top dairy companies. Towards this objective, we endeavour to expand the business, grow our brands, deepen the reach and seize emerging and future opportunities to stay on our growth trajectory. We are expanding distribution, enlarging the portfolio and making the right investments in our brands. We are also taking several initiatives to expand our presence to states beyond western and southern parts of India. Increasing our footprint in high-milk producing and consuming states is an utmost priority. We are con fi dent that the fruition of our various e ff orts towards this transformation will re fl ect in higher margins and improved earnings quality in terms of a leaner working capital cycle and healthier operating cash fl ows. Further, as the leading organized player in our chosen markets, we enjoy a sizeable critical mass in terms of visibility and business sustainability. In conclusion Staying true to our mission, we aim to enhance the contribution of value- added products from the current levels of over the next fi ve years and cementing our status as a pan-India player in the dairy segment. We have been continuously widening our portfolio of value-added products and brightening our growth prospects over the years. Before closing, I would like to extend my gratitude to our employees for their persistent hard work and support. I also wish to thank our farmers, distributors, suppliers, partners, bankers, customers, consumers and all our shareholders for their unwavering trust and con fi dence in us. With Warm Regards, N. Brahmani Executive Director CORPORATE OVERVIEW 29 th Annual Report 2020-21 | 23 Message from the Executive Director