HERITAGE FOODS LIMITED

A Heritage of

Dairy
Excellence

A Heritage of Dairy Excellence

31st Annual Report 2022-23

HERITAGE FOODS LIMITED

CIN: L15209TG1992PLC014332
H. No. 8-2-293/82/A/1286 , Plot No. 1286, Road No-1 & 65,
Jubilee Hills, Hyderabad - 500033, Telangana, India
Tel: 040-23391221/2
E-mail: [email protected] | Website: www.heritagefoods.in H e r i t a g e F o o d s L i m i t e d | 3 1 st A n n u a l R e p o r t 2 0 2 2 - 2 3
Contents
02-44
Corporate Overview

About Us 02 Stakeholder engagement 20 Nurturing environmental sustainability 38

Vice-chairperson & 06 Key Financial Ratios 22 Fulfilling our social responsibility 39
Managing Director’s message Future road map 40
Sustaining an efficient supply chain 24
Executive Director’s message 08 Awards and accolades 41
Maintaining a sharp focus on quality 26
Business model 10 Financial highlights 42
Relying on technology and 28
Portfolio of products 12 product innovation 10 years financial highlights 43
Heritage Nutrivet 14 Empowering our human assets 30 Corporate information 44
Heritage Novandie 16 Prioritising good governance 34
Our strategic pillars 18 Board of Directors 36

45-177 178-312
Statutory Reports Financial Statements
To view or
Notice 45 Standalone 178 download this
report online,
Boards Report 67 Consolidated 243 please visit: www.
Business Responsibility & 106 heritagefoods.in or
Sustainability Report scan the QR code
Management Discussion & 135
Analysis
Corporate Governance 149

Forward-looking statements

Some information in this report may contain forward-looking statements which include statements regarding Company’s expected
financial position and results of operations, business plans and prospects etc. and are generally identified by forward-looking words
such as “believe,” “plan,” “anticipate,” “continue,” “estimate,” “expect,” “may,” “will” or other similar words. Forward-looking statements
are dependent on assumptions or basis underlying such statements. We have chosen these assumptions or basis in good faith, and
we believe that they are reasonable in all material respects. However, we caution that actual results, performances or achievements
could differ materially from those expressed or implied in such forward-looking statements. We undertake no obligation to update or
revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
A Heritage of
Dairy Excellence
For more than 3 decades, we have not only stayed true
to our values and mission, but also created a diversified
product portfolio, which supports dairy farmers, delights
consumers and serves their nutritional requirements.
The result is a strong and In FY2022-23, we have processing and distribution
sustainable Heritage of dairy accomplished outstanding top- network, streamline processes
excellence. line growth rate. This sterling and adopt best practices to
performance is a testament of our deliver industry-leading value
The strength of our business
ability to navigate challenges and to our consumers and all other
model lies in our technologically
leverage market opportunities stakeholders.
advanced R&D infrastructure,
with a consumer-centric
quality control mechanism,
approach.
deeply entrenched distribution
network and above all strong and We will continue to leverage
long-lasting relationships with technology both in our
300,000+ dairy farmers.

Our strategic investments, over

the years, to modernise our
processing facilities and optimise
our supply chain are translating
into tangible business outcomes.
 Heritage Foods Limited | 31st Annual Report 2022-23

About Us
Heritage Foods is a leading Indian dairy company that
is rapidly expanding with the goal of serving farming
community. With the help of more than 300,000 dairy
farmers, we are committed to providing high-quality
dairy products to consumers.

1.5 million 31 years

households served daily with Legacy of providing superior
healthy and fresh dairy products quality products Vision

Since its inception in 1992, Heritage of our food products. Our technologically
Delighting
Foods has consistently demonstrated a advanced R&D infrastructure, with every home
commitment to deliver superior quality stringent quality control measures,
fresh milk and milk products to numerous continue to benefit our operational with Fresh
households. While maintaining a strong processes. Besides, our distribution
market presence in the states of Andhra network is supported by cutting-edge & Healthy
Pradesh, Telangana, Karnataka and Tamil processing facilities spread across 11
Nadu, we are constantly expanding our states in India. We also have a presence products and
footprint with diverse products. Our in the renewable energy sector and have
products are now available in 11 states. successfully established wind & solar empowering
Our product range now includes different power projects.
types of milk, curd, buttermilk, butter, the Farmer
ghee, paneer, and a variety of value-
added dairy products such as ice cream,
flavoured milk, lassi etc.

We have earned a reputation for assuring

the quality of products and we take
great pride in adhering to strict hygiene
standards for processing and packaging

02