Is Heritage Foods a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Heritage Foods Ltd is a good quality company .

Is Heritage Foods undervalued or overvalued?

The key valuation ratios of Heritage Foods Ltd's currently when compared to its past seem to suggest it is in the Fair zone .

What is Heritage Foods share price return in the past 10 years?

Heritage Foods Ltd share price has appreciated 15.5% annually (CAGR) over the past ten years.

Is Heritage Foods a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Heritage Foods Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

Heritage Foods Ltd - Stock Valuation and Financial Performance

Name: Heritage Foods
Brand: Heritage Foods

BSE: 519552 | NSE: HERITGFOOD | Consumer Food | Small Cap

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Heritage Foods Share Price

₹301 1.30 0.43%
as on 16-Apr'24 16:01

10 Year X-Ray of Heritage Foods:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	TTM
ROCE % ⓘ	19.1%	12%	19%	55.8%	38.6%	17.7%	23.3%	23.1%	15.6%	8.6%	-
Value Creation Index ⓘ	0.4	-0.2	0.4	3.0	1.8	0.3	0.7	0.7	0.1	-0.4	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	1,722	2,073	2,381	2,351	2,344	2,482	2,681	2,407	2,643	3,209	3,607
Sales YoY Gr.	-	20.4%	14.8%	-1.2%	-0.3%	5.9%	8%	-10.2%	9.8%	21.4%	-
Adj EPS ⓘ	5	3	6.2	33	36.5	19	21.7	16.1	10.8	6.7	9.4
YoY Gr.	-	-39%	102.3%	436.9%	10.4%	-47.8%	13.9%	-25.8%	-33.1%	-37.5%	-
BVPS (₹) ⓘ	19.2	20.8	25.9	64.5	84.7	87.6	50.2	64.6	71.8	79.1	84.2
Adj Net Profit ⓘ	45.6	27.8	56.3	302	334	174	198	147	98.6	62.4	87
Cash Flow from Ops. ⓘ	74.8	51.6	125	88.4	138	143	124	164	144	-60.8	-
Debt/CF from Ops. ⓘ	1.9	3.1	1	1.7	2	2	2.3	0.3	0	-2.1	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	7.2%	6.5%	6.2%	21.4%
Adj EPS ⓘ	3.4%	-28.7%	-32.3%	-37.5%
BVPSⓘ	17%	-1.4%	16.4%	10%
Share Price	15.5%	3.7%	23.5%	79%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	TTM
Return on Equity % ⓘ	28.4	15	26	72.5	48.6	22	31.3	27.9	15.7	8.9	11.5
Op. Profit Mgn % ⓘ	5.6	4	5.6	5.5	5.6	7.5	5	10.6	7.2	4.3	4.8
Net Profit Mgn % ⓘ	2.7	1.3	2.4	12.9	14.2	7	7.4	6.1	3.7	2	2.4
Debt to Equity ⓘ	0.8	0.8	0.5	0.3	0.4	0.4	0.6	0.1	0	0.2	-
Working Cap Days ⓘ	31	32	31	28	26	28	27	32	32	37	21
Cash Conv. Cycle ⓘ	9	12	13	9	13	14	14	19	22	28	7

Recent Performance Summary

Sales growth is good in last 4 quarters at 16.85%

Return on Equity has declined versus last 3 years average to 11.50%

Sales growth has been subdued in last 3 years 6.17%

Net Profit has been subdued in last 3 years -32.30%

Latest Financials - Heritage Foods Ltd.

	Standalone	Consolidated
TTM EPS (₹)	9.4	9.1
TTM Sales (₹ Cr.)	3,607	3,661
BVPS (₹.) ⓘ	84.2	83
Reserves (₹ Cr.) ⓘ	735	724
P/BV ⓘ	3.57	3.62
PE ⓘ	32.05	33.24

From the Market
52 Week Low / High (₹)	163.05 / 354.30
All Time Low / High (₹)	0.38 / 448.84
Market Cap (₹ Cr.)	2,792
Equity (₹ Cr.)	46.4
Face Value (₹)	5
Industry PE ⓘ	66.1

Management X-Ray of Heritage Foods:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Heritage Foods

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Heritage Foods

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Sales	1,722	2,073	2,381	2,351	2,344	2,482	2,681	2,407	2,643	3,209
Operating Expenses ⓘ	1,625	1,989	2,248	2,260	2,602	2,430	3,058	2,156	2,454	3,072
Manufacturing Costs	107	112	121	108	130	142	150	130	163	215
Material Costs	1,295	1,629	1,821	1,420	1,836	1,882	2,116	1,736	1,973	2,482
Employee Cost	100	111	140	98	120	137	150	170	177	204
Other Costs ⓘ	122	138	166	635	517	269	642	119	141	172
Operating Profit ⓘ	97	84	132	91	-259	52	-377	251	189	137
Operating Profit Margin (%)	5.6%	4.0%	5.6%	3.9%	-11.0%	2.1%	-14.1%	10.4%	7.1%	4.3%
Other Income ⓘ	5	7	7	250	403	142	303	8	10	11
Interest ⓘ	15	18	17	11	19	22	22	19	5	5
Depreciation ⓘ	25	34	35	25	37	44	48	44	50	54
Exceptional Items ⓘ	-1	0	-1	0	0	0	0	0	-9	0
Profit Before Tax ⓘ	61	39	86	306	88	129	-145	196	135	89
Tax ⓘ	16	11	31	31	28	45	15	51	34	23
Profit After Tax	45	28	55	275	60	83	-160	145	102	66
PAT Margin (%)	2.6%	1.4%	2.3%	11.7%	2.6%	3.4%	-6.0%	6.0%	3.8%	2.1%
Adjusted EPS (₹)	5.0	3.1	6.1	30.1	6.6	9.1	-17.5	15.9	11.1	7.1
Dividend Payout Ratio (%)	15%	25%	13%	3%	15%	11%	-7%	16%	23%	35%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Equity and Liabilities
Shareholders Fund	176	190	237	590	775	802	459	591	657	734
Share Capital ⓘ	23	23	23	23	23	23	23	23	23	46
Reserves ⓘ	153	167	214	567	752	779	436	567	634	687
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	127	142	105	135	241	246	243	27	2	125
Long Term Debt	39	56	66	69	138	154	160	26	2	1
Short Term Debt	88	87	39	66	102	92	83	0	0	124
Trade Payables	69	78	85	51	66	63	57	33	48	43
Others Liabilities ⓘ	120	116	148	190	604	484	203	208	183	220
Total Liabilities ⓘ	492	526	575	966	1,685	1,595	962	858	891	1,121
Fixed Assets
Gross Block	420	462	518	296	450	529	550	691	725	804
Accumulated Depreciation	148	182	206	17	38	79	117	157	190	227
Net Fixed Assetsⓘ	272	281	313	279	412	450	433	534	535	577
CWIP ⓘ	11	9	10	8	9	22	77	18	7	20
Investmentsⓘ	1	1	1	480	1,022	864	192	54	60	65
Inventories	109	139	145	116	151	132	136	189	196	366
Trade Receivables	17	24	29	11	10	40	21	15	18	28
Cash Equivalents	44	41	45	46	61	65	55	21	35	19
Others Assetsⓘ	39	31	33	26	21	22	48	28	40	46
Total Assets ⓘ	492	526	575	966	1,685	1,595	962	858	891	1,121

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Cash Flow From Operating Activity ⓘ	75	52	125	88	138	143	124	164	144	-61
PBT ⓘ	62	39	86	323	88	129	-145	196	135	89
Adjustment ⓘ	36	48	53	-175	47	62	283	66	52	48
Changes in Working Capital ⓘ	-10	-26	15	-15	30	-11	5	-47	-9	-175
Tax Paid ⓘ	-13	-10	-30	-29	-28	-37	-19	-51	-35	-23
Cash Flow From Investing Activity ⓘ	-62	-47	-66	-90	-217	-119	-104	69	-41	-82
Capex	-63	-48	-67	-74	-138	-105	-99	-65	-40	-79
Net Investments	0	0	0	0	0	-8	0	130	-9	-6
Others ⓘ	1	0	1	-15	-79	-5	-4	5	8	2
Cash Flow From Financing Activityⓘ	-1	-8	-55	-16	58	-11	-21	-185	-90	127
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	-15	17	16	21	85	20	13	-151	-48	22
Interest Paid ⓘ	-12	-15	-15	-9	-16	-20	-20	-17	-2	-2
Dividend Paid ⓘ	-4	-7	-7	-7	-9	-9	-9	-12	-35	-12
Others ⓘ	31	-3	-49	-22	-2	-2	-5	-4	-4	119
Net Cash Flow ⓘ	12	-4	4	-18	-21	13	0	49	13	-16

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Ratios
ROE (%)	28.81	15.43	25.99	66.53	8.85	10.59	-25.38	27.66	16.27	9.47
ROCE (%)	26	16.91	28.76	56.96	11.92	14.1	-13.33	30.9	21.37	12.35
Asset Turnover Ratio	3.82	4.08	4.33	3.05	1.77	1.51	2.1	2.76	3.15	3.32
PAT to CFO Conversion(x)	1.67	1.86	2.27	0.32	2.3	1.72	N/A	1.13	1.41	-0.92
Working Capital Days
Receivable Days	3	4	4	3	2	4	4	3	2	3
Inventory Days	20	22	22	20	21	21	18	24	25	31
Payable Days	18	16	16	17	12	13	10	9	7	7

Heritage Foods Ltd Stock News

Heritage Foods Ltd FAQs

What is the share price of Heritage Foods?

Company share prices are keep on changing according to the market conditions. The closing price of Heritage Foods on 16-Apr-2024 16:01 is ₹301.0.

What is the market cap of Heritage Foods?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 16-Apr-2024 16:01 the market cap of Heritage Foods stood at ₹2,791.8.

What is the P/E ratio of Heritage Foods?

The latest P/E ratio of Heritage Foods as of 16-Apr-2024 16:01 is 32.05.

What is the P/B ratio of Heritage Foods?

The latest P/B ratio of Heritage Foods as of 16-Apr-2024 16:01 is 3.57.

What is the 52-week high and low of Heritage Foods?

The 52-week high of Heritage Foods is ₹354.3 and the 52-week low is ₹163.1.

What is the TTM revenue of Heritage Foods?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Heritage Foods is ₹3,607 ( Cr.) .

About Heritage Foods Ltd

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's milk and milk products have a market presence in Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharastra, Odisha, NCR Delhi, Haryana, Rajasthan, Uttarakhand & Uttar Pradesh. In the year 1994, Heritage Foods went public and was oversubscribed 54 times. Heritage Foods shares are listed on BSE and NSE.

Business area of the company

Heritage Foods is engaged in two key business verticals - Dairy and Renewable Energy

Business verticals

Dairy

Milk
UHT Milk
Curd
Buttermilk
Ice-Creams
Frozen Desserts
Lassi
Flavoured Milk
Milkshake
Paneer
Sweets
Ghee
Butter
Skimmed Milk Powder

Renewable Energy

Awards

2013: Fortune-50 Most Powerful Business Women- Mrs. N Bhuvaneswari, Vice Chairperson and Managing Director of the Company was named the Most Powerful Business Woman in India for the year 2013. Ranked 45th in the List of Fortune-50.
2014: Economics Times- The Company was listed among the top 500 Indian Companies for the year 2014 as compiled by the Economic Times, on the basis of Industry Reputation and Key Financial Parameters.
2014: ‘Most Admired Retailer of the Year 2014’- The Retail division of the Company has received the “Most Admired Retailer of the year 2014 Award” in the Food & Grocery Segment from India Retail Forum Mumbai in September, 2014
2014: National Energy Conservation Award- The Dairy Division of the Company has received the 1st Prize in ‘National Energy Conservation Award’ in the Dairy sector from the Ministry of Power, Govt of India in December, 2014.
2015: COCA COLA Golden Spoon Award- The Retail Division of the Company has received the ‘COCA COLA Golden Spoon Award 2015’ for being the Regional Chain’s Most Admired Food & Grocery Retailer of the Year’ at India Food Forum, Mumbai in January, 2015.
2015: National Energy Conservation Award- The Gokul Plant has received the 1st Prize in the ‘National Energy Conservation Award’ in the Dairy sector from the Ministry of Power, Govt of India in December, 2015
2016: COCA COLA Golden Spoon Award 2016- The Retail Division of the Company has received the ‘COCA COLA Golden Spoon Award’ 2016 for being the Most Admired Food & Grocery Retailer of the Calendar Year 2015
2016: Great Indian Ice Cream Contest 2016 Season-5- The Company received the Gold Award in Kool Kids, i.e., 1st Prize on an All India level
2016: Golden Peacock Award for Excellence in Corporate Governance- The Company has been declared the Winner of the ‘Golden Peacock Award for Excellence in Corporate Governance’ for the year 2016.
2016: National Energy Conservation Award- The Uppal Plant has received the 1st Prize in the ‘National Energy Conservation Award’ in the Dairy sector from the Ministry of Power, Govt of India during the year 2016.
2016: 100 Most Influential CFO’s in India- The Chief Financial Officer (CFO) of the Company has been conferred an Award by the London-based Chartered Institute of Management Accountants (CIMA), thereby joining CIMA's elite list of '100 Most Influential CFOs' during the year 2016.
2016: Most Innovative 100 CIOs/CTOs of India- The IT Head of the Company has been awarded by the organisation www.indiasgreatest.com as one of the '100 Most Innovative CIOs of India' during the year 2016.
2016: Excellence Awards in Corporate Social Responsibility- The Company bagged FTAPCCI Excellence Awards in Corporate Social Responsibility during the year 2016.
2017: Golden Peacock Award for Excellence in Corporate Governance- The Company bagged the “Golden Peacock Award for Excellence in Corporate Governance” for the year 2017.
2017: National Energy Conservation Award- The Company won the Prestigious National Energy Conservation Awards (NECA - 2017) in the Dairy sector for the year 2017.
2017: Hyderabad CFO Leadership Award- Mr. A Prabhakara Naidu, CFO of the Company, won the Hyderabad CFO Leadership Award from the World CSR Day and World Sustainability.
2017: Telangana Best Employer Brand Award 2017- The Company received the Telangana Best Employer Brand Award 2017 from the World CSR Day and World Sustainability.
2017: ICAI Awards 2017-The Institute of Chartered Accountants of India in its 11th ICAI Awards, 2017 conferred Award for Excellent CA-CFO in the Agriculture & Allied Services Sector to Mr. A. Prabhakara Naidu, Chief Financial Officer of the Company.
2018: 100 Top HR Mind in India Award- Mr. Dheeraj Tandon, Head HR, has received the 100 Top HR Minds in India Award from the World HRD Congress.
2018: Won India Food Safety Summit Award by Confederation of Indian Industry
2020: Won India Food Safety Summit Award
2020: Won India Dairy Award

Milestones

1992- Incorporation of the Company on June 5, 1992
1993- Commenced commercial production on April 26, 1993
1994- Initial Public Offering which was over-subscribed 54 times
2002- Buyback of shares
2006- Started Retail division - Heritage Fresh Stores
2007-08- Launched value-added products like curd, lassi, buttermilk, paneer, flavoured milk and frozen dessert
2007-08- First exclusive franchise
2007-08- Started Agri division
2013- Set up first solar energy plant
2013- Awarded 1:1 bonus equity shares to shareholders
2013- VP & MD, Mrs. N. Bhuvaneswari named among the 50 M
2014- Entered into India’s prestigious list of
2014- ET Top 500 Companies
2016- Commissioned the first wind power plant
2016- Received the Golden Peacock Award in Corporate Governance
2016- Received Board approval regarding demerger of retail undertaking
2017- Revamped the Heritage brand in our Silver Jubilee Year
2017- Launched Polypropylene (PP) flavoured milk
2017- Established Heritage Nutrivet Limited, a subsidiary for cattle-feed
2017- Received Golden Peacock Award for Excellence in Corporate Governance
2018- Launched Alpenvie Ice-cream range