INDIA’S PER CAPITA MILK CONSUMPTION, WHICH IS LOW COMPARED TO DEVELOPED ECONOMIES SHARE OF LIQUID MILK SEGMENT IN THE INDIAN DAIRY MARKET INDIA’S DAIRY INDUSTRY IS EXPECTED TO GROW TO ₹49,953.5 BILLION BY 2032, REGISTERING A 13% CAGR SHARE OF TRADITIONAL AND EMERGING VALUE-ADDED SEGMENTS IN THE INDIAN DAIRY MARKET GROWTH IN MILK PROCUREMENT VOLUMES FROM FY1993 TO FY2024 VALUE-ADDED PRODUCTS TO THE REVENUE Over time, we have ensured a steady expansion in our market footprint, establishing milk procurement centres in 9 States and facilitating milk and milk product sales in 12 States. There is significant potential in India's value-added dairy products with a more prosperous and consumptionoriented society. We are committed to increase the share of value-added products in our portfolio. It took us only five years to add net I 1,000 crore+ revenue over 4-years, from I 2,726 crore in FY2020 to I 3,794 crore in FY2024, which points to our long-term growth potential. We are enhancing our R&D and innovation capabilities to launch new high-quality nutritious products. We are focused on increasing milk procurement, the starting point of our business, by investing judiciously in village-level milk collection infrastructure, chilling centers, etc. We are focused on building a range of milk and milk-based value-added products to serve the needs of traditional as well as next-generation consumers. Dairy is the gold standard from the perspective of nutritional value and affordability. We at Heritage are committed to unlock the full value of our integrated dairy model as we enter a new phase of growth. Heritage: An exciting business story rooted in India's dairy potential 81 kg per year 61% 13% CAGR 13% 15% CAGR 30% Sources: Investec India, Research report on India Dairy Sector Milking the Rising Consumption Trend https://www.imarcgroup.com/dairy-industry-in-india www.fortuneindia.com/macro/milk-production-in-india-may-reach-300-million-tonnes-by-2030/116561 HERITAGE FOODS LTD | 32ND ANNUAL REPORT 2023-24 05 STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS
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