134 32ND ANNUAL REPORT 2023-24 | HERITAGE FOODS LTD MDA STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS captive solar and wind power plants across its various facilities. These installations collectively generate 11.70 MW of renewable energy, comprising 6.30 MW of installed capacity wind power and 5.40 MW of installed capacity solar power, all dedicated to meeting the company’s internal energy needs. This commitment to sustainable practices underscores Heritage Foods’ dedication to environmental stewardship and operational efficiency. Captive renewable energy generation (11.70 MW of renewable energy) 6.30 MW from installed wind power plants 5.40 MW from installed Solar power plants Revenue from operation achieved during FY2024 was `90.29 million, as against `78.22 million in the previous year, registering 15.43% year-on-year growth. Profit before tax (PBT) was recorded at `26.09 million against `23.27 million during the previous year. Profit after tax (PAT) for the year stood at `32.42 million vs. `30.23 million in the previous year. For FY2024, EBITDA grew by 11.76% YoY to `6.60 million in FY2024, compared to `56.10 million in FY2023. Heritage Nutrivet Limited Heritage Nutrivet Limited (HNL) is a wholly-owned subsidiary Company of Heritage Foods Limited, is committed to advancing animal nutrition via an array of livestock feeds and supplements. The company’s mission is to bolster milk production and reproductive efficiency in dairy animals by ensuring their comprehensive health and robust immunity. HNL’s product suite is meticulously tailored to meet diverse animal requirements. Beyond supplying nutritional solutions, HNL extends technical assistance and shares knowledge among dairy farmers to elevate milk yields and enhance economic gains, all while delivering financially viable options to the agricultural community. Heritage Novandie Foods Private Limited Heritage Foods Limited has formed an 50:50 joint venture company with Novandie, France, known as Heritage Novandie Foods Private Limited (HNFPL). This collaboration aims to produce and market a diverse range of premium yoghurt variants in India. HNFPL commenced commercial operations in February 2021. The company strategically targets Indian consumers prioritising nutritious food choices. A key differentiator for HNFPL lies in its offering of the first French yoghurt, backed by robust manufacturing facilities and stringent quality control measures for ingredients and processes. Financial overview The Company has delivered significant returns to its stakeholders and it continues to traverse the path towards becoming a nationally recognised brand for healthy and fresh products. Mentioned below is the Company’s performance for the last 5 years in various parameters. Net worth The Net worth for the last five years is as follows. FY2024 8,035 FY2023 7,367 FY2022 6,605 FY2021 5,938 FY2020 4,623 Dividend The dividend % declared in last five years. FY2024 50% 232 FY2023 50% 232 FY2022 100% 232 FY2021 100% 232 FY2020 50% 116 Earnings per share Earnings per share (EPS) (Equity Shares of the face value of Rs.5/- each) Note: EPS has been adjusted for all the years on account of issue of rights issue during the FY 22-23 Key financial highlights for FY 2023-24 The following information is standalone information about the Company and should be read in conjunction with the financial statements and related notes for the financial year ended March 31, 2024.
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