` in Millions Particulars Heritage Nutrivet Limited (Wholly Owned Subsidiary) year ended on Skil Raigam Power (India) Limited (Associate) year ended on Heritage Novandie Foods Private Limited (Joint Venture) year ended on 31/03/2024 31/03/2023 31/03/2024 31/03/2023 31/03/2024 31/03/2023 Total Income 1,608.68 1080.92 - 0.01 47.48 31.31 Total Expenses 1,535.09 1064.88 0.03 0.04 178.32 202.59 Profit/ (Loss) before tax 73.59 16.04 (0.03) (0.03) (130.84) (171.28) Current tax expense 18.53 1.26 - - - Deferred tax benefit 2.91 3.69 - - - Profit/ (loss) for the year 52.15 11.09 (0.03) (0.03) (130.84) (171.28) In accordance with Section 136 of the Companies Act, 2013, the audited financial statements, including the consolidated financial statements and related information of the Company and audited accounts of each of its Subsidiary, Associate and Joint Venture are available on the website of your Company www.heritagefoods.in. Quality Your Company continues the journey of delivering value to its consumers/customers through significant investments in quality assurance programs. Your Company adheres to international quality standard certifications such as ISO 22000:2018 (Food Safety Management System), ISO 9001:2015 (Quality Management System), ISO 45001:2018 (Occupational Health & Safety), ISO 14001:2015 (Environmental Management System), ISO 50001:2018 (Energy Management System) and HALAL Certification by JUHF. Your Company has also acquired AgMark, BIS, EIA and FSSC 22000 v 5.1 Certificates. The Quality department of your company plays a crucial role in implementing and driving change management initiatives that aim to improve quality and increase productivity across the organization. By continuously updating its practices and embracing new technologies, the department helps to streamline processes, reduce waste, and enhance overall performance. Through its efforts, the Quality department is instrumental in driving the company’s success and achieving its goals. Branding “Heritage” as a brand reflects your company’s identity, core values and belief system. Your company is actively working on diversifying the products portfolio in line with the current consumer trends and mission of bringing health, nutrition & happiness to every home. During the year under review the brand came up with the biggest integrated marketing campaign for curd under the theme-“Heritage curd makes your Day”, with 360 degree touch points covering TV, Digital and Out of Home. In the coming years, your company shall further develop more integrated marketing campaigns based on strong Consumer insights that will help to connect and build brand preference. Awards & Recognitions During the financial year 2023-24 your Company has received the following awards and recognitions. • Prestigious National Energy Conservation Awards (NECA - 2023) in Dairy Sector for the year 2023 Your company has won the 2nd prize in Dairy Sector for the year 2023 on December 14, 2023 at all India level for the effective energy conservation process/ methods for its Dairy Plant, situated at: Bayyavaram (V), Kasimakota (M), Visakhapatnam District, Andhra Pradesh-531031 • Prestigious SKOCH Award under the following two categories in the 97th SKOCH Summit held at India Habitat Center, New Delhi on 29th March 2024 F Platinum Award in the Digital Transformation for “Heritage Vet+” Project F CIO of the Year for the Agri Sector • Own the best packaging & best video campaign at IAMAI Awards for the Buffalo Milk. • The Company has been awarded "Best Corporate-cash management services" by HDFC Bank in Dairy sector for quick transformation from cash collections to 100% digital mode. Human Resources and Industrial Relations Your Company takes pride in the commitment, competence and dedication shown by its employees in all areas of business. Your company ensures that it provides a harmonious and cordial working environment to all its employees. To ensure good human resources management, your Company focused on all aspects of the employee lifecycle. This provides a holistic experience for the employee as well. During their tenure at the Company, employees are motivated through various skill- Board's Report STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS 62 32ND ANNUAL REPORT 2023-24 | HERITAGE FOODS LTD
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