Heritage Foods board to mull rights issue on 30th Sept

The board of the dairy enterprises is scheduled to meet on Friday, 30 September 2022, to consider raising funds by issuing equity shares on a rights basis.

Heritage Foods is one of the largest private sector dairy enterprises in Southern India. Its milk and milk products have a market presence in Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharashtra, Odisha, NCR Delhi, Haryana, Rajasthan, Uttarakhand and Uttar Pradesh.

On a consolidated basis, net profit of Heritage Foods declined 75.98% to Rs 7.27 crore on 26.68% rise in net sales to Rs 820.92 crore in Q1 June 2022 over Q1 June 2021.

Shares of Heritage Foods fell 1.51% to Rs 320.15 on Wednesday, 21 September 2022.

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