Heritage Foods had a big jump in their stock price, going up by 12.1% to Rs 416.20 per share on the BSE during trading on Thursday. This increase came after the company reported much higher profits for the last part of the fiscal year 2023-24 (Q4FY24).
They made Rs 950 crore in revenue, which is 16.3% more than the same time last year when they made Rs 817.6 crore. In Q4FY24, their profits went up a lot reaching Rs 40.5 crore which is a 126% increase from Rs 17.9 crore in Q4FY23.
During this time their earnings before taking out interest, taxes, depreciation and amortisation (Ebitda) went up by 67.5% compared to last year reaching Rs 70.2 crore. The Ebitda margin was 7.39%, which is 220 basis points higher than Q4FY23, according to the company.
For the whole fiscal year 2023-24, their revenue went up by 17.1% to Rs 3,793 crore, and their net profits increased by 83.6% to Rs 106 crore. Ebitda also increased by 51.5% to Rs 209 crore with the Ebitda margin going up by 125 basis points to 5.52%.
In Q4FY24 they were able to get 1.59 Million litres of milk per day (MLPD) which is an 11.32% increase from last year. The prices they paid for milk went down by Rs 3.47 per litre to Rs 41.70 per litre. They sold more milk too with a 3.74% increase to 1.11 MLPD, and the average selling price went up by 1.78% to Rs 54.84 per litre.
At 11:49 AM, their stock was trading at Rs 407.20 per share, which is 9.62% higher than before. In comparison the S&P BSE Sensex fell by 0.52%. Right now Heritage Foods has a price to earnings multiple of 43.40 times.
