HERITGFOOD

By Praveen Paramasivam

April 16 (Reuters) - Indian dairy firm Heritage Foods HEFI.NS will increase the prices of its products this financial year to offset rising costs such as fuel and raw material expenses, its CEO told Reuters.

Consumer goods majors, including Nestle India NEST.NS and Cinthol soapmaker Godrej Consumer Products GOCP.NS, are hiking prices to battle a double whammy of a slowdown in consumer spending and higher costs.

"The price increase will be across the board, not specifically on milk," Heritage CEO Srideep Kesavan said last week. "It will also be on paneer and other dairy products ... in line with covering our costs increase."

A one-litre pouch of Heritage toned milk is priced at 53 rupees (62 U.S. cents). The company intends to increase the price by 1 to 2 rupees, or 2%-4%, in the financial year that started on April 1.

In comparison, the prices of milk and milk products in India rose 2.6%-2.9% in the January-March quarter, still below the broader inflation rate, according to government data.

Heritage, which mainly caters to the Southern states, raised milk prices earlier this year, its first increase in nearly two years.

It also plans to expand its footprint this year to 350,000 stores from 250,000 currently, including deeper growth in existing markets such as Chennai.

PROTEIN DEFICIENCY IN INDIA

Dairy brands, from Amul to Milky Mist, have lately been highlighting the amount of protein on packages of everything from cottage cheese to curd as affluent Indians strive to meet daily protein requirements.

Surveys indicate a majority of Indians have a protein-deficiency due to a largely vegetarian diet.

But Heritage, according to Kesavan, will focus more on maintaining the taste of its products rather than reformulating its products to add more protein.

"Taste is more important than loud claims," he said.

($1 = 85.9450 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Sonia Cheema)

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Jan 22 (Reuters) - Heritage Foods Ltd HEFI.NS:

• Q3 CONSOL NET PROFIT 430.5 MILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 10.34 BILLION RUPEES

Source text: ID:nBSE5Q1c9g

Further company coverage: HEFI.NS

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Oct 23 (Reuters) - Heritage Foods Ltd HEFI.NS:

• HERITAGE FOODS Q2 CONSOL NET PROFIT 486.3 MILLION RUPEES

• HERITAGE FOODS Q2 CONSOL REVENUE FROM OPERATIONS 10.2 BILLION RUPEES

Source text for Eikon: ID:nBSE7ZL48B

Further company coverage: HEFI.NS

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Sept 18 (Reuters) - Heritage Foods Ltd HEFI.NS:

• SETTING UP NEW ICE CREAM FACILITY AT SHAMIRPET

• CAPITAL INVESTMENT FOR FACILITY 2.04 BLN RUPEES

Source text for Eikon: ID:nNSE7wr74x

Further company coverage: HEFI.NS

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July 23 (Reuters) - Heritage Foods Ltd HEFI.NS:

• HERITAGE FOODS Q1 CONSOL PROFIT 584.3 MILLION RUPEES

• HERITAGE FOODS Q1 CONSOL REVENUE FROM OPERATIONS 10.33 BILLION RUPEES

Source text for Eikon: ID:nBSE7Ptpmx

Further company coverage: HEFI.NS

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** Hatsun Agro Product HAPL.NS shares up as much as 18% to highest since Nov 2021

** Arun icecream maker on Monday posted 63% surge in Q1 profit, while rev rose 10.4% on strong sales volume and higher margins

** See margin expansion to continue through FY25 on lower input prices, utilisation of low-priced skimmed milk product

inventory, ICICI Securities said in a note

** ICICI raised FY25/26 earnings by 4.4%/4% to factor in the better-than-expected results

** Including day's gain, stk up 4.3% YTD vs 79% gain in rival Heritage Foods HEFI.NS and 31% rise in Dodla Dairy DODL.NS

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

** Indian dairy firm Heritage Foods HEFI.NS rises as much 10% to record high of 601.15 rupees

** Stk up for fourth straight session, gains nearly 49% during the period

** HEFI has jumped since exit polls predicted strong win for Telugu Desam Party (TDP) in Andhra Pradesh, an analyst, who did not want to be named, said

** Heritage was founded by Chandrababu Naidu, chief of TDP, and others in 1992, as per co website

** N Bhuvaneswari, Naidu's wife, is vice chairman and MD of HEFI, and also top shareholder in co with a 36.67% stake

** Naidu's TDP is also second-largest party in Prime Minister Narendra Modi's National Democratic Alliance, which is set to form government at centre

** HEFI up about 95.4% YTD

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

** Shares of Heritage Foods HEFI.NS rise as much as 8.5% to 403 rupees

** Stock posts its highest level since April 11, 2018

** The dairy products company reported a more than twofold jump in its March-qtr consolidated net profit from continued operations to 405 million rupees ($4.9 mln)

** Revenue from operations rose 16.3% Y/Y, while revenue from its dairy segment climbed 15.8% Y/Y

** HEFI on track for a fifth straight session of gains, if current trend holds

** More than 1.5 mln shares change hands in early trade, 2.9x the 30-day avg

** Including session's gains, stock up 31.4% YTD

($1 = 83.4050 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

(([email protected]; +91 8805175330 ;))

May 29 (Reuters) - Heritage Foods Ltd HEFI.NS:

• HERITAGE FOODS MARCH-QUARTER CONSOL NET PROFIT FROM CONTINUING OPERATIONS 405 MILLION RUPEES VERSUS 179.3 MILLION RUPEES

• HERITAGE FOODS MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 9.51 BILLION RUPEES VERSUS 8.18 BILLION RUPEES

• HERITAGE FOODS LTD - DIVIDEND 2.50 RUPEES PER SHARE

Further company coverage: HEFI.NS

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** Shares of milk producer Dodla Dairy DODL.NS up as much as 3.4% at 916.40 rupees

** Investec initiated coverage on Indian dairy firms DODL, Hatsun Agro HAPL.NS, Heritage Foods HEFI.NS and Parag Milk Foods PAMF.NS, picks DODL as the most preferred stock

** Brokerage expects DODL to outshine its peers in various aspects including robust core business, effective capital utilization and reasonable valuations

** Rates DODL at "buy" with Street-high PT of 1,400 rupees - LSEG

** Meanwhile, Investec's ratings on HEFI and PAMF also at "buy"; HAPL rated "sell"

** DODL only stock among major dairy firms with YTD gains, HEFI, PAMF and HAPL all post YTD losses between 1.1% and 12.5%

(Reporting by Kashish Tandon in Bengaluru)

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BENGALURU, Jan 29 (Reuters) - India's Heritage Foods HEFI.NS reported a 96% jump in third-quarter profit on Monday, helped by strong demand for its dairy products.

The dairy producer's consolidated profit roseto 269 million rupees ($3.2 million) for the quarter ended Dec. 31 from 137.3 million rupees a year earlier.

The average selling price of milk rose 5.2% year-on-year, boosting the company's revenue from the dairy business - its biggest segment - by nearly 19% to 9.22 billion rupees.

Earlier this month, analysts at HDFC Securities said the demand for organised dairy products in India is going up due to rising income and a preference for healthier options.

Heritage Foods fits well into this trend, offering products that meet such rules and standards and come in branded packaging.

The Hyderabad-based company's revenue from operations rose nearly 20% to 9.41 billion rupees.

Last week, peer Hatsun Agro Products HAPL.NS reported a nearly 24% rise in third-quarter profit, its slowest quarterly profit growth in three quarters, hurt by heavy floods in home state Tamil Nadu.

Shares of Heritage Foods closed up 3.3% ahead of the results.

($1 = 83.1160 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Rashmi Aich and Sohini Goswami)

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BENGALURU, Jan 19 (Reuters) - India's Hatsun Agro Product HAPL.NS, which sells products under brands such as Arun IceCreams and Arokya Milk, reported its slowest quarterly profit growth in three quarters, hurt by heavy floods in its home state of Tamil Nadu.

Last month, cyclone Michaung flooded a large part of the southern Indian state, which is home to 13 of Hatsun's 20 milk processing plants and, according to ICICI Securities, accounts for over half of the company's revenue.

The Chennai-based company's profit after tax rose 23.6% to 574 million rupees ($6.91 million) in the three months ended December 31, its slowest since the 2023 March quarter.

Total expenses, led by raw material costs, rose 11.2%. This offset Hatsun's 11.3% rise in revenue - the highest revenue growth the company has recorded since the 2023 March quarter, coming on the back of a productive flush season.

The flush season runs from October to February, as lower temperatures lead to higher milk production, and is used by dairies to build supply for the lean season.

Rivals Heritage Foods HEFI.NS and Dodla Dairy DODL.NS will report third-quarter results later this month.

Shares of Hatsun Agro rose as much as 3.7% to hit a four-month high after the results, before giving up all the gains to trade 2.1% lower.

($1 = 83.1037 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Janane Venkatraman )

(([email protected]; +91 7982114624;))

** Shares of Hatsun Agro Product HAPL.NS, Heritage Foods HEFI.NS and Parag Milk Foods PAMF.NS up between 1% and 5.5%

** Maharashtra government has announced a subsidy of 5 rupees ($0.0601)/litre for milk farmers, local media reports

** Subsidy to be effective over next two months

** PAMF and HEFI have one plant each in Maharashtra, while HAPL has two plants

** If gains hold, PAMF set to snap two consecutive sessions of losses, while HEFI to rise for fourth straight session

** As of YTD, HAPL up ~25%, HEFI has risen 41% and PAMF climbed over 114%

($1 = 83.2240 Indian rupees)

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

** ICICI Securities expects margins for Indian dairy cos to

rise in H2FY24E–FY25E, post FY23–H1FY24E weakness

** Sees cos reporting EBITDA margin expansion in H2FY24 on lower raw material prices and benefit of carry-over of price hikes

** Costs for Indian farmers will likely reduce with stable cattle feed prices - ICICI Securities

** Says it remains positive on dairy sector on growth triggers like higher consumption of margin-accretive value-added products

** Adds, milk procurement prices to remain stable in H2FY24 due to commencement of flush season, normal monsoon and weakening impact of lumpy skin disease

** Prefers Heritage Foods HEFI.NS and Dodla Dairy DODL.NS with "buy" and keeps "hold" rating on Hatsun HAPL.NS

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

BENGALURU, Oct 19 (Reuters) - Indian milk processing firm Hatsun Agro Product HAPL.NS on Thursday posted a near 83% rise in second-quarter profit on strong demand for its milk and dairy products, with proceeds from a one-time asset sale contributing.

The company, which sells products under brands such as Arun Ice Cream, Arokya Milk and Hatsun Curd, said its profit after tax rose to 775.7 million rupees ($9.32 million) for the quarter ended Sept. 30, from 424.8 million rupees a year earlier.

Revenue from operations rose 9% year-on-year to 19.05 billion rupees, offsetting a 7.4% rise in total expenses to 18.18 billion rupees.

The cost of raw materials, which accounts for 88% of the total expenses, grew 25.5%.

Earlier this month, analysts at Elara Capital said they anticipate sustained sales growth in India's dairy industry as it continues to see an uptick, driven by increasing demand in urban centres.

The Chennai-based Hatsun also realised 101.3 million rupees from the sale of windmills in September, classifying the amount under the 'other income' segment in its quarterly financial result on Thursday.

Peer Heritage Foods HEFI.NS on Wednesday reported a more than 17% jump in its second-quarter profit.

Shares of Hatsun Agro closed 0.5% up ahead of the results.

($1 = 83.2194 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Janane Venkatraman)

(([email protected]; +91 7982114624;))

Oct 18 (Reuters) - Heritage Foods Ltd HEFI.NS:

• SEPT-QUARTER CONSOL NET PROFIT FROM CONTINUING OPERATIONS 224.1 MILLION RUPEES VERSUS 190.5 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 9.79 BILLION RUPEES VERSUS 8.16 BILLION RUPEES

Further company coverage: HEFI.NS

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** Shares of dairy products co Heritage Foods HEFI.NS rise as much as 3.67% to 255.80 rupees

** HEFI's June-quarter profit more than doubles as higher milk prices and sales boost revenue nL4N39H0Y7

** Co posts consolidated net profit of 167.4 mln rupees ($2.03 mln) vs 72.8 mln rupees a yr earlier, while total income is up 12.5%

** Stock on track to snapping three consecutive sessions of loss, if gains hold

** Share price above 50-day, 100-day and 200-day exponential moving averages since Apr. 6, suggesting bullish trend

** More than 327,000 shares change hands by 11:55 a.m. IST, 0.9x the 30-day avg

** Avg rating of three analysts equivalent to "strong buy", median PT is 250 rupees - Refinitiv data

** Stock up 38.2% YTD

($1 = 82.2725 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

BENGALURU, July 31 (Reuters) - India's Heritage Foods HEFI.NS posted a first-quarter profit on Monday that more than doubled, as higher milk prices and sales boosted revenue.

The Hyderabad-based dairy products company said its consolidated net profit stood at 167.4 million rupees ($2 million) for the quarter ended June 30, compared with 72.8 million rupees a year earlier.

Milk prices in India hit a peak during the June quarter as a muted production season and heat waves resulted in lower output, analysts at ICICI Securities said.

The average selling price of milk shot up 11% year-on-year, boosting the company's revenue from the dairy business - its biggest segment - by 12% to 9.13 billion rupees.

The segment, which comprises both milk and milk-based products, also contributed more than 98% to the company's total revenue, while earnings before interest, taxes, depreciation and amortization (EBITDA) surged 67.9%.

The rise in revenue helped soften the impact of an 11% rise in total expenses to 9.01 billion rupees, led by an 11% increase in the cost of material consumed. Average milk procurement rose 9% to 1.52 million litres per day during the quarter.

Heritage Foods, which counts ice cream, buttermilk and ghee among its products, said its total revenue from operations rose 12.5% to 9.24 billion rupees.

Earlier this month, peer Hatsun Agro product HAPL.NS said it posted a 54% rise in its June-quarter profit.

Shares of the dairy producer closed down 6.75% at 246.75 rupees after the results.

($1 = 82.2670 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Sonia Cheema and Janane Venkatraman)

(([email protected];))

May 25 (Reuters) - Heritage Foods Ltd HEFI.NS:

• HERITAGE FOODS LTD - DIVIDEND 2.5 RUPEES PER SHARE

• INDIA'S HERITAGE FOODS MARCH-QUARTER CONSOL TOTAL NET PROFIT 179.3 MILLION RUPEES VERSUS 126.9 MILLION RUPEES

• HERITAGE FOODS MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 8.18 BILLION RUPEES VERSUS 6.96 BILLION RUPEES

Source text for Eikon: ID:nBSE2wZMwd

Further company coverage: HEFI.NS

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