Heritage Foods Ltd

Heritage Foods Ltd

₹ 319 -0.42%
23 Feb - close price
About

Heritage Foods is engaged in the business of procurement and processing of Milk & Milk products and also generation of power through solar & wind for the captive consumption of its dairy plants.[1] The company has a reach to over 15 lakh households in India.[2]

Key Points

Product Portfolio
The company's products include milk and value-added products such as curd, ice cream/frozen dessert, paneer, buttermilk, flavored milk, lassi, milk powders, and sweets, etc. [1]

  • Market Cap 2,960 Cr.
  • Current Price 319
  • High / Low 343 / 135
  • Stock P/E 35.2
  • Book Value 79.9
  • Dividend Yield 0.78 %
  • ROCE 10.6 %
  • ROE 7.91 %
  • Face Value 5.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 26.5%

Cons

  • The company has delivered a poor sales growth of 6.43% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: FMCG Industry: Food - Processing - Indian

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
605 619 648 670 667 696 821 816 786 818 924 979 941
548 575 596 607 628 666 799 779 755 778 885 933 891
Operating Profit 57 44 52 64 39 30 22 38 31 40 39 45 50
OPM % 9% 7% 8% 10% 6% 4% 3% 5% 4% 5% 4% 5% 5%
1 4 3 -6 3 2 3 3 3 3 3 2 3
Interest 5 3 1 1 1 1 1 0 0 2 3 2 2
Depreciation 11 12 13 13 13 13 13 14 14 15 15 15 16
Profit before tax 42 33 41 43 29 18 11 26 19 26 24 31 36
Tax % 37% 26% 26% 25% 28% 29% 31% 28% 28% 31% 29% 27% 25%
26 24 30 33 21 12 7 19 14 18 17 22 27
EPS in Rs 2.84 2.62 3.26 3.53 2.24 1.37 0.78 2.05 1.48 1.93 1.80 2.41 2.90
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,393 1,602 1,722 2,073 2,381 1,894 2,373 2,515 2,726 2,473 2,681 3,241 3,661
1,339 1,497 1,625 1,989 2,248 1,761 2,628 2,458 3,108 2,212 2,495 3,109 3,487
Operating Profit 55 105 97 84 132 134 -255 57 -382 261 186 132 174
OPM % 4% 7% 6% 4% 6% 7% -11% 2% -14% 11% 7% 4% 5%
2 0 4 7 5 251 402 138 303 7 2 12 11
Interest 22 19 15 18 17 49 20 23 24 21 6 6 9
Depreciation 21 22 25 34 35 25 38 45 50 46 52 56 60
Profit before tax 13 64 61 39 86 310 90 127 -154 202 130 82 116
Tax % 32% 22% 26% 28% 36% 10% 30% 35% -10% 26% 26% 29%
9 50 45 28 55 278 63 83 -169 148 96 58 84
EPS in Rs 0.99 5.38 4.88 3.06 5.97 29.64 6.76 8.77 -17.27 16.16 10.41 6.25 9.04
Dividend Payout % 25% 7% 15% 25% 13% 3% 15% 11% -7% 15% 24% 40%
Compounded Sales Growth
10 Years: 7%
5 Years: 6%
3 Years: 6%
TTM: 17%
Compounded Profit Growth
10 Years: 0%
5 Years: -3%
3 Years: 33%
TTM: 59%
Stock Price CAGR
10 Years: 20%
5 Years: 7%
3 Years: 24%
1 Year: 116%
Return on Equity
10 Years: 14%
5 Years: 7%
3 Years: 16%
Last Year: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 12 12 23 23 23 23 23 23 23 23 23 46 46
Reserves 81 130 156 170 217 564 751 776 433 569 631 676 695
140 126 142 157 126 158 280 299 306 69 19 168 57
176 143 172 175 209 250 652 536 226 217 229 234 263
Total Liabilities 410 411 492 526 575 996 1,707 1,635 988 879 903 1,125 1,062
230 237 271 281 312 296 433 476 481 580 579 622 635
CWIP 9 8 11 9 10 8 9 42 77 18 8 20 15
Investments 0 1 1 1 1 478 1,002 835 152 13 18 15 91
170 165 209 235 252 214 263 282 278 267 298 469 320
Total Assets 410 411 492 526 575 996 1,707 1,635 988 879 903 1,125 1,062

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
60 97 75 52 125 115 121 148 117 174 148 -61
-26 -29 -62 -47 -66 -126 -200 -133 -97 69 -42 -83
-31 -65 -1 -8 -55 -13 55 -3 -22 -191 -93 126
Net Cash Flow 3 3 12 -4 4 -24 -23 12 -2 51 13 -17

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 3 3 4 4 4 3 2 6 3 2 3 3
Inventory Days 32 24 29 31 28 31 31 27 24 41 38 55
Days Payable 22 17 19 17 16 15 13 13 10 7 9 7
Cash Conversion Cycle 12 11 14 18 16 19 19 20 17 36 31 52
Working Capital Days -7 -7 -2 2 -2 -5 -6 -4 -3 9 11 29
ROCE % 15% 35% 26% 17% 29% 64% 12% 14% -14% 31% 21% 11%

Shareholding Pattern

Numbers in percentages

6 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
39.90% 39.90% 39.49% 39.43% 39.43% 39.43% 39.43% 39.22% 41.57% 41.57% 41.57% 41.30%
3.79% 2.84% 3.47% 3.97% 1.62% 2.04% 2.39% 2.06% 1.98% 2.07% 1.74% 1.73%
13.51% 13.93% 14.26% 15.57% 15.89% 14.65% 15.56% 15.66% 15.90% 15.88% 14.48% 11.97%
42.80% 43.33% 42.78% 41.04% 43.06% 43.89% 42.61% 43.06% 40.55% 40.48% 42.20% 44.99%
No. of Shareholders 24,71530,03830,13533,68337,42039,31539,71940,01043,31542,47452,55257,287

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Concalls