Heritage Foods Limited | 30th Annual Report 2021-22

30 th Annual Report 2021-22 Heritage Foods Limited 56 Board’s Report To the Members, Your Directors have a great pleasure in presenting the 30 th Annual Report together with the Audited Standalone & Consolidated Financial Statements of your Company for the Financial Year ended March 31, 2022. Financial Results The Company’s financial performance for the year ended March 31, 2022 is summarized below: ( ` in Millions) Particulars Standalone FY 2021-22 FY 2020-21 Net Sales 26404.91 24067.87 Other Operating Income 24.30 2.42 Total Revenue 26429.21 24070.29 Add: Other Income 103.14 84.07 Total Income 26532.35 24154.36 Less: i) Total Expenditure 24556.70 21525.36 ii) Fair value loss on FVTPL equity shares - 48.12 Profit before Finance cost, Depreciation, Amortisation Expenses and Tax 1975.65 2580.88 Less: i) Finance cost 32.01 178.48 ii) Depreciation and Amortisation Expenses 499.64 440.54 Profit before tax and exceptional items 1444.00 1961.86 Exceptional items 91.40 - Profit before tax 1352.60 1961.86 Less: i) Current Tax 343.01 500.37 ii) Deferred Tax (5.75) 9.85 Profit after tax 1015.34 1451.64 Performance of the Company Standalone Your Company, during the year under review earned revenue from operations (Gross) of ` 26,429.21 Million, against ` 24,070.29 Million over the previous year. The profit before Finance Cost, depreciation & amortization and tax was of ` 1975.65 Millions as against ` 2,580.88 Million in the previous year. The Profit After Tax for the current year is ` 1,015.34 Million against ` 1,451.64 Million in the previous year. Consolidated Your Company, during the year under review earned revenue from operations (Gross) of ` 26,812.79 Million, against ` 24,731.13 million over the previous year. The profit before Finance Cost, depreciation & amortization and tax was of ` 1,869.31 Millions as against ` 2,679.24 Million in the previous year. The Profit After Tax from continuing operations for the current year is ` 965.21 Million against ` 14,90.50 Million in the previous year. Transfer to General Reserves Your Directors do not propose to transfer any amount to general reserves for the financial year ended March 31, 2022. Dividend During the year under review the Board of Directors at its meeting held on October 21, 2021 declared 1 st interim dividend of 50% i.e. ` 2.50/- per equity share of face value of ` 5/- each amounting to ` 115.99 Million for the Financial Year 2021-22 and paid on November 12, 2021.