BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Rising share of added products and strong up-tick in curd volume sales are the key positives of Heritage Foods Ltd.'s Q1 FY23 result.
Revenue grew 26.7% YoY but Ebitda margin declined to 2.9% (lowest in past 44 quarters) due to delayed price hikes. Heritage continued to launch new products during the quarter.
We remain believer of Heritage to be a beneficiary of steady migration from co-operatives and unorganised players to private players.
We model Heritage to report profit after tax compound annual growth rate of 30.2% over FY22-FY24 with-
high single-digit growth in milk procurement and
steady increase in the share of -added product portfolio.
We cut earnings estimates due to delay in price hikes.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR