Hyderabad-based dairy products maker Heritage Foods is confident of maintaining mid-teen revenue growth driven by ice creams and other value-added products.
The value-added portfolio, which accounts for nearly 39% of business, is growing at over 20%, said CEO Srideep M Kesavan. He expects the capacity additions in ice cream business to grow its value to ₹600-700 crore over the next four to five years from ₹100 crore now.
On September 18, the company’s board approved the proposal for setting up a new ice cream manufacturing facility at Shamirpet, Telangana, with an estimated capital investment of ₹204 crore.
Heritage Foods operates in the sectors of milk and dairy products, renewable energy, and cattle feed. Within its dairy division, the company is involved in the production of milk, milk products, ice cream, and frozen desserts.
The current market capitalisation of the company is ₹5,275.45 crore.
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