Q4 2024 Heritage Foods Ltd Earnings Call Transcript
Key Points
- Heritage Foods Ltd (BOM:519552) reported a robust growth in earnings and profitability for Q4 and the full year FY24.
- Consolidated operating income for FY24 grew by 17% year-on-year to INR3,794 crore.
- EBITDA for FY24 stood at INR210 crore, representing a strong growth of 52%, with EBITDA margins improving to 5.52%.
- Net profits for FY24 saw a significant improvement of 84% year-on-year, reaching INR107 crore.
- Value-added products registered a robust revenue growth of around 22% year-on-year in Q4, contributing significantly to overall growth.
- Milk procurement prices dropped by INR3.5 per liter, which could indicate potential volatility in raw material costs.
- Bulk fat sales, which have low or zero gross margins, still contributed to revenue, indicating a reliance on lower-margin products.
- The company had to provide for butter provisions, with INR4.5 crore still carried forward, impacting profitability.
- Heritage Novandie Foods Private Limited, a joint venture, continued to incur losses, although reduced from INR17 crore to INR13 crore.
- The company faces challenges in maintaining stable milk procurement prices, which could affect future EBITDA margins.
Ladies and gentlemen, good day, and welcome to the Heritage Foods Q4 FY24 earnings conference call.(Operator Instructions) Please note that this call is being recorded.
I would now like to hand the conference over to Mr. Anuj Sonpal from Valorem Advisors. Thank you, and over to you Mr. Anuj.
Thank you. Good evening, everybody, and a very warm welcome to you all. My name is Anuj Sonpal from Valorem Advisors. We represent the Investor Relations of Heritage Foods Limited. On behalf of the company, I would like to thank you all for participating in the company's earnings call for the fourth quarter and full year financial year ending 2024.
Before we begin, let me mention a quick cautionary statement. Some of the statements made in today's earnings call may be forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated.
Such statements are based on management's beliefs as well as
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