Packaged Foods firm Heritage Foods Announced Q1FY23 Result :

• Solid consolidated Q1FY23 revenue growth by 27% YoY, to INR 8,209 million
• 756 bps YoY growth in Value Added Products (VAP) contribution to 34.86% of Q1FY23 ’s revenue
• Revenue from operations was at INR 8,209 million during the quarter
• EBIDTA stood at INR 220 million in Q1FY23, compared to INR 298 million in Q4 FY22
• Net Profit during the quarter stood at INR 73 million in Q1FY23

Commenting on the results, Mrs. Brahmani Nara, Executive Director, said, “Amidst the challenging environment, the Company is making efforts to grow sustainably. Even though we posted solid consolidated Q1FY23 revenue growth by 27% YoY, increases in procurement and operational costs kept the quarter's net profits under check to INR 73 million. The Company is continually expanding its portfolio of value-added products and, in Q1 FY23, we launched 3 value added products. Along with expanding our value-added range, we are continually focusing on extending our customer and geographical reach. Parallelly, we are implementing strategic initiatives to focus on quality growth and improving profitability. Our marketing strategies are being redesigned to understand consumer preferences and behaviour patterns, and are being aligned more closely with our portfolio. As we continue to enjoy strong sequential demand growth for our products, we are placing concerted efforts for improving our profitability in the coming quarters.”

Result PDF