The share price of Heritage Foods Ltd. recovered from the day's low on Wednesday after its board approved a proposal for setting up of a new ice cream manufacturing plant in Telangana's Shamirpet.
The facility is expected to be commissioned by November 2025 and will involve a capital investment of approximately Rs 204 crore, according to an exchange filing. "The new facility is intended to cater to the growing demand for ice cream in the region and expand our production capacity to better serve our consumers."
The manufacturing unit will be financed through debt and internal accruals, the company further noted.
Heritage Foods, founded by Andhra Pradesh Chief Minister Chandrababu Naidu in 1992, has a strong presence in the retail dairy market of southern states. In the quarter ended June 2024, the company logged a consolidated net profit of Rs 58.4 crore, and a revenue from operations of Rs 1,032.7 crore.
The share price of Heritage Foods Ltd. recovered from the day's low on Wednesday after its board approved a proposal for setting up of a new ice cream manufacturing plant in Telangana's Shamirpet.
The facility is expected to be commissioned by November 2025 and will involve a capital investment of approximately Rs 204 crore, according to an exchange filing. "The new facility is intended to cater to the growing demand for ice cream in the region and expand our production capacity to better serve our consumers."
The manufacturing unit will be financed through debt and internal accruals, the company further noted.
Heritage Foods, founded by Andhra Pradesh Chief Minister Chandrababu Naidu in 1992, has a strong presence in the retail dairy market of southern states. In the quarter ended June 2024, the company logged a consolidated net profit of Rs 58.4 crore and revenue from operations of Rs 1,032.7 crore.
Also Read: Avocados Are Healthy—Even For This Stock
RECOMMENDED FOR YOU
Honasa Consumer Share Price Hits All-Time Low Amid Distributor Body's Claims Of Unsold Stock
Nov 21, 2024
Britannia Industries Share Price Hits Over Six–Month Low Following FSSAI Notice
Nov 21, 2024
Honasa Consumer Share Price Hits Record Low For Second Day On Weak Earnings
Nov 19, 2024
Britannia Share Price Falls To Five-Month Low After Q2 Profit Dip
Nov 12, 2024
POPULAR