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
Takeaways from Heritage Foods Ltd.'s Q4 FY22:
revenue grew 12.4% YoY driven by strong volume growth in dairy segment,
gross margin declined 304 basis points YoY due to higher milk procurement prices but limited price hikes, and
steady launch of new products continued during the quarter.
Steady value migration from co-operatives and un-organised players to private players is likely to benefit Heritage. We model the company to report profit after tax compound annual growth rate of 33.4% over FY22-FY24 with-
high single-digit growth in milk procurement and
steady increase in the share of value-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.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
