Heritage Foods' Board approves expansion into Non-Dairy Food Products in the Premium Nutrition Segment

The Board of Directors of Heritage Foods Ltd., one of the leading private dairy players in India, have approved the Company's proposed expansion into the Non-Dairy Food Products in the Premium Nutrition Segment.

Mr. Srideep Kesavan, Chief Executive Officer, Heritage Foods Limited, said, "Heritage Foods has been providing 'Nutrition to Nation' through its dairy products. The Company looks forward to extending the same philosophy through Non-Dairy Food Products in the Premium Nutrition Segment. This asset-light businesses will leverage Heritage Foods strong distribution network and Brand Trust to be part of consumers' daily healthy food choices."

"The proposed expansion into Non-Dairy Food Products in the Premium Nutrition Segment is in line with Heritage Foods' vision to delight every home with fresh and healthy products, while empowering farmers. This move will not only improve Heritage Foods' margin profile, but will also de-seasonalize the business, ensuring sustained value creation in the long run. Additionally, I am happy to share with you Heritage Foods has further strengthened its Balance Sheet by achieving debt-free status with effect from 1st November 2021 with the repayment of the remaining debt of Rs.210 million." added Mrs. N Brahmani, Executive Director, Heritage Foods Limited.

Shares of Heritage Foods Limited was last trading in BSE at Rs. 534.70 as compared to the previous close of Rs. 523.15. The total number of shares traded during the day was 31728 in over 1737 trades.

The stock hit an intraday high of Rs. 538.40 and intraday low of 522.55. The net turnover during the day was Rs. 16820730.00.

Source : Equity Bulls

Keywords

HeritageFoodsLimited INE978A01027 HERITGFOOD NonDairy FoodProducts Nutrition