Heritage Foods Limited | 30th Annual Report 2021-22

Contents Corporate Overview Key Highlights FY 21-22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 01 30 Years is a Long Journey . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 02 About us . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 04 Our journey over three decades . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 06 Our presence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 08 Vice-Chairperson & Managing Director’s Message . . . . . . . . . . . . . . . 10 Executive Director’s Message . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Our products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Renewable energy business vertical . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Animal nutrition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Enhancing value through partnership . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Financial highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 10 years financial highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Business model . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Environmental Responsibilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 Heritage Foods: The road ahead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Our Human Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Robust supply chain network . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 Improving consumer proximity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 Community building. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 Board of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 Awards & Accolades . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 Corporate information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 Pg. 01-41 Statutory Reports Notice to Members . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 Board’s Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 Management Discussion and Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . 94 Report on Corporate Governance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104 Pg. 42-128 Financial Statements Standalone Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129 Consolidated Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . 181 Pg. 129-236 To view or download this report online, please visit: www.heritagefoods.in or scan the QR code Forward-looking statements Some information in this report may contain forward-looking statements which include statements regarding Company’s expected financial position and results of operations, business plans and prospects etc. and are generally identified by forward-looking words such as “believe,” “plan,” “anticipate,” “continue,” “estimate,” “expect,” “may,” “will” or other similar words. Forward-looking statements are dependent on assumptions or basis underlying such statements. We have chosen these assumptions or basis in good faith, and we believe that they are reasonable in all material respects. However, we caution that actual results, performances or achievements could differ materially from those expressed or implied in such forward-looking statements. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.