Board’s Report To the Members, Your Directors have a great pleasure in presenting the 32nd Annual Report together with the Audited Standalone & Consolidated Financial Statements of your Company for the Financial Year ended March 31, 2024. Financial Results The Company’s financial performance for the year ended March 31, 2024 is summarized below: (` in Millions) Particulars Standalone Consolidated FY 2023-24 FY 2022-23 FY 2023-24 FY 2022-23 Revenue 37,324.48 32,072.53 37,918.20 32,390.60 Other Operating Income 18.97 14.22 20.84 15.94 Total Revenue 37,343.45 32,086.75 37,939.04 32,406.54 Add: Other Income 119.29 113.48 119.65 120.57 Total Income 37,462.74 32,200.23 38,058.69 32,527.11 Less: Total Expenditure 35,354.89 30,736.67 35,843.60 31,023.96 Profit before Finance cost, Depreciation, Amortisation Expenses and Tax 2,107.85 1,463.56 2,215.09 1,503.15 Less: i) Finance cost 81.64 31.68 90.60 39.02 ii) Depreciation and Amortisation Expenses 584.32 538.50 608.19 561.47 Profit before tax and exceptional items 1,441.89 893.38 1,516.30 902.66 Exceptional items (167.95) - - - Less: share of loss of an Associate and a joint venture - - 65.43 85.23 Profit before tax 1,273.94 893.38 1,450.87 817.43 Less: i) Current Tax 356.68 227.07 375.21 228.33 ii) Deferred taxation 6.88 7.42 10.17 9.34 Profit after tax 910.38 658.89 1,065.49 579.76 Performance of the Company Standalone Your Company, during the year under review earned revenue of ₹.37,343.45 Million, against ₹ 32,086.75 Million over the previous year. The profit before Finance Cost, depreciation & amortization and tax was of ₹.2,107.85 Million as against ₹.1,463.56 Million in the previous year. The Profit After Tax for the current year is ₹.910.38 Million against ₹ 658.89 Million in the previous year. Consolidated Your Company, during the year under review earned revenue of ₹. 37,939.04 Million, against ₹ 32,406.54 million over the previous year. The profit before Finance Cost, depreciation & amortization, share of loss of an associate and joint venture and tax was of ₹ 2,215.09 Million as against ₹ 1,503.15 Million in the previous year. The Profit After Tax from continuing operations for the current year is ₹.1,065.49 Million against ₹ 579.76 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, 2024. Dividend Your Directors have pleasure in recommending a dividend of 50 % i.e. ₹.2.50/- per equity share of face value of ₹ 5/- each for the financial year ended March 31, 2024 at their meeting held on May 29, 2024 amounting to ₹. 231.99 Millions. The dividend payout is subject to approval of members at the ensuing Annual General Meeting. The Register of Members and Share Transfer Books will remain closed from Wednesday, August 14, 2024 to Wednesday, August 21, 2024 (both days inclusive) for the purpose of payment of dividend for the financial year Board's Report STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS 53 HERITAGE FOODS LTD | 32ND ANNUAL REPORT 2023-24
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