Heritage Foods informed that its board of directors has approved the proposal for setting up a new ice cream manufacturing facility at Shamirpet, Telangana.
The new facility is intended to cater to the growing demand for ice cream in the region and expand its production capacity to better serve consumers. The facility is expected to be commissioned by November 2025 and will involve a capital investment of approximately Rs 204 crore, funded through a combination of debt and internal accruals.
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.
The companys consolidated net profit zoomed to Rs 58.43 crore in Q1 FY25 as against Rs 16.74 crore recorded in Q1 FY24. However, revenue from operations jumped 11.8% year on year (YoY) to Rs 1,032.67 crore in the first quarter of FY25.
The scrip rose 0.28% to Rs 580 on the BSE.
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First Published: Sep 18 2024 | 3:34 PM IST
