Heritage Foods Hits a New 52-week High After Reporting Q4 FY23 Results!

Amidst the unfolding season of financial outcomes, Heritage Foods Limited unveiled its financial results for both Q4FY23 and the fiscal year ending on March 31, 2023. In addition, the company also recommended dividend. 

In comparison to the same quarter last year, the company’s net profit for the fourth quarter which ended on March 31, 2023, increased by 39.38% to Rs 17.66 crore from Rs 12.67 crore. In Q4FY23, the company’s total net revenue increased by 17.56% from Rs 820.97 crore to Rs 698.36 crore in a similar quarter the year prior.   

In comparison to last quarter, the company’s net profit for the fourth quarter, increased by 28.62% to Rs 17.66 crore from Rs 13.73 crore. In the similar period, the company’s total net revenue increased from Rs 789.14 crore to Rs 820.97 crore.         

The company reported a decrease in net profit for the year ended March 31, 2023, from Rs 96.04 crore to Rs 57.70 crore. When compared to the year ended March 31, 2022, the company’s net revenue increased by 20.80% to Rs 3252.71 crore from Rs 2692.55 crore in the year prior ended on March 31, 2022.   

The company’s board of directors has recommended a dividend for the year ended March 31, 2023 of Rs 2.50 per equity shares of face value of Rs 5, subject to approval of the shareholders in the ensuing 31st Annual General Meeting. 

In the last trading session, the scrip was closed at Rs 200.40. Today it opened at Rs 207.05 and hit a new 52-week high at Rs 215 and it has 52-week low of Rs 126.88. Currently, it is trading at Rs 198. So far 47,962 shares were traded over the counter. Company has given returns of 18% over the past year.      

The Heritage Foods was founded by Mr. Nara Chandrababu Naidu in the year 1992, which is one of the fastest growing Public Listed Companies in India. Heritage Foods is engaged in two key business verticals – Dairy and Renewable Energy.