COMPANY PROFILE

Heritage Foods Limited

The Heritage Foods Limited was founded by Mr. Nara Chandrababu Naidu in the year 1992,
which is one of the fastest growing Public Listed Companies in India, with two business
divisions - Dairy and Renewable Energy. The annual turnover of Heritage Foods stood at
INR 24,070 million in the financial year 2020-21.
Currently, Heritage's milk and milk products have a market presence in Andhra Pradesh,
Telangana, Karnataka, Kerala, Tamil Nadu, Maharastra, Odisha, NCR Delhi, Haryana,
Rajasthan, Uttarakhand & Uttar Pradesh.
In the year 1994, HFL went public and was oversubscribed 54 times. HFL shares are listed on
BSE (Stock Code: 519552) and NSE (Stock Code: HERITGFOOD).
Heritage Dairy
We are one of the Leading Private Dairy Players in India with a Chilling Capacity of 1.95
million liters per day, Processing Capacity of 2.57 million liters per day and Packaging
Capacity of 1.71 million liters per day. By deeply committing ourselves to innovation and to
providing authentic, high-quality milk products, we have grown multifold to occupy a
sizeable share in India's Dairy Market.
We process and market a full line of dairy products including fresh milk, curd, buttermilk,
lassi, ice-cream, paneer, ghee, table butter, cooking butter, milk powder, flavored milk, UHT
milk and dairy whitener. Headquartered in Hyderabad, we have a significant presence in the
states of Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharastra, Odisha,
NCR Delhi, Haryana, Rajasthan, Uttarakhand & Uttar Pradesh.

Heritage Renewable Energy

We at Heritage have recognized our responsibilities to protect the environment. With this, we
are dedicated to expand our green footprint and thus we have started our clean energy journey
by entering into renewable energy projects for captive consumption.
We have commissioned and been distributing energy through our captive solar & wind power
plants at 11 different plants and locations, namely, Bangalore packing station in Karnataka,
Battiprolu packing station in Andhra Pradesh, Bobbili packing station in Andhra Pradesh,
Kalluru packing station in Telangana, Madanapalli in Andhra Pradesh, Mulugu in Teangana,
Sangvi packing station in Maharashtra &Vadamadurai packing station in Tamil Nadu. Wind
power plants are located in Chinahothur, Vajrakarur&Beluguppa, Ananthapur District in
Andhra Pradesh.
VISION
Delighting every home with Fresh & Healthy products and empowering the Farmer
Mission
 To be a nationally recognized brand for Healthy and Fresh products with a revenue of
INR 6000 Crores
 To anticipate, understand and respond to our Customers' needs by creating high-
quality products and making them available through innovative and convenient
channels
 To embrace the right technology to delight our Customers
 Advocating the balancing of economic, social and environmental aspects to create a
better tomorrow
 Empowering the farmer community through our unique 'Relationship Farming' Model
 Be the Employer of Choice by nurturing entrepreneurship and promoting
empowerment, alongside transparency
Milk Producers
Effecting change in the standard of living for dairy farmers in terms of:
 Regular income through co-operative efforts
 Women’s participation in income generation
 Protecting farmers from price exploitation by the un-organized sector
 Providing remunerative prices for milk
 Increasing milk productivity through input and extension activities
 Credit facilitation for purchase and insuring of cattle
 Cattle healthcare activities
 Supplying high-quality cattle feed at reasonable prices
Customers
 Timely supply of pure & fresh products
 Supply of high-quality milk and milk products at affordable prices
 More than 15 lakh happy customers
 High customer satisfaction
 Customer care centre
 Supply of products through multiple channels like MRF, e-Commerce &Parlours
Employees
 Enhancing the technical and managerial skills of employees through continuous
training and development
 Instituting the best appraisal systems to motivate employees
 Fostering incentive, bonus and reward systems to encourage employees
 Providing fair opportunities to all for career development
Shareholders
Returns
 Dividend Payment since Public Issue (January 1995)

Service
 Highest importance to investor service; no notice from any regulatory authority since
2001 in respect of investor service
 Very transparent disclosures
Suppliers
 Prompt payments to all suppliers
 Associated with high-quality equipment / ingredient suppliers
Society
 Potential Employment Generation
o More than 3,100 employees are working with Heritage
o More than 12,020 procurement representatives have found self-employment in
rural areas
o More than 6900 sales representatives are associated with the company
 More than 942 franchisees operating Heritage Parlours
 Sustainable development with 10.30 MW of renewable energy for running dairy
plants
Contribute to fight against Covid-19 pandemic
To counter the spread of COVID 19 the Company
joins hands with the government and decided to
contribute a sum of ₹ 1 crore in its major operating
areas across the country.

 CM Relief Fund Andhra Pradesh – ₹30

Lakhs
 CM Relief Fund Telangana – ₹30 Lakhs
 CM Relief Fund Karnataka – ₹10 Lakhs
 CM Relief Fund Tamil Nadu- ₹10 Lakhs
  CM Relief Fund Maharashtra – ₹10 Lakhs
 CM Relief Fund Delhi- ₹10 Lakhs

Rebuilding cyclone-affected lives

Donated Rs.48.50 lakhs from the CSR funds and
Rs.17.67 lakhs from the Heritage Employee Welfare
funds to SMART Andhra Pradesh Foundation in
support of Cyclone Titli that affected families in
Srikakulam, AP.

Helping Kerala stand up after the floods

Donated Rs.44,23,129/- worth of Skimmed Milk
Powder from the CSR funds and employees’ one day’s
salary to the needy people in Kerala’s tragic floods.

Uplifting women through education

Inauguration of the Heritage Foods Academic Block at NTR Junior College for Girls,
Gandipet by Mr D. Seetharamaiah, Chairperson, HFL. This Block was built from CSR funds
of Heritage Foods Limited.

Corporate Management Team

Mrs. Bhuvaneswari Nara

Vice-Chairperson & Managing Director
A B.A. Graduate and a Director for several companies. Is a dynamic leader who has
extensive experience in business and has been successfully steering Heritage Foods Limited
towards growth and better prospects? Joined Heritage in 1994 as whole-time Director and is
now serving as Vice Chairperson & Managing Director. Is guiding and monitoring the overall
workflow of the organization.

Mrs. BrahmaniNaraExecutive Director

Holds a Master's in Business Administration from Stanford University, Bachelor’s in
Electrical Engineering from Santa Clara University, California, USA and Communication
Engineering from Chaitanya Bharathi Institute of Technology, Hyderabad, India. Investment
Associate in Vertex Venture Management Pvt Ltd between 2009-2011 in Singapore. Joined
Heritage in 2011 as Vice President Business Development and is now serving as Executive
Director. Takes care of such vital functions as design, development and implementation of
strategic plans for the organization in a cost-effective and time-efficient manner.

Dr. M. Sambasiva Rao

President
Post Graduate and Doctorate in Zoology. Served the state and central governments for about
two decades as a member of the Indian Administrative Services (IAS). Dr Rao was the Joint
Secretary in the Department of Commerce under the Ministry of Commerce and Industry,
Government of India.
Mr. Srideep M Kesavan
Chief Executive Officer (CEO)
Holds MBA (PGDBA, Marketing) from XLRI, Jamshedpur and an Alumni of XLRI, B.Tech
(Electronics & Instrumentation) from CET, University of Kerala. Mr. Srideep is a seasoned
professional having a diversified and rich experience of more than two decades in Business
Leadership roles and has deep domain expertise across Sales & Distribution, Marketing,
Category Management, P&L, and General Management in Beverages, Food & Agribusiness
Organizations. He has worked as Vice President – Marketing for Juices & Value-Added
Dairy category in Coca-Cola India & South – West Asia BU and handled various roles i.e.,
Director Operations (Coca Cola, INSWA BU, East Franchises, India), General Sales
Manager- (Coca Cola, India, HCCB); as Country Head in Olam International Limited
(Gabon, West Africa) & as Control Systems Engineer in ONGC, Mumbai.

Awards & Recognitions

Heritage Foods is proud to have been recognized by some of the most important and
influential publications and organizations around the world.

Certificate of Appreciation
Government of India, Ministry of Finance, Telangana, 2021
AWARDS
 1st Prize in National Energy Conservation Awards-2018
 1st Prize in National Energy Conservation Awards-2017
 2nd Prize in National Energy Conservation Awards-2017
  National Energy Conservation Award 2016
 National Energy Conservation Award 2012
 National Energy Conservation Award 2010
 National Energy Conservation Award 2008
 Bagged the "Coca Cola Golden Spoon Award" 2017 & 2018 for its retail business
division. The annual 'COCA COLA Golden spoon awards' are well-established and
highly regarded within the industry as a mark of exceptional performance.
 Listed among India's prestigious Top-500 companies list for the year 2015 & 2016,
compiled by The Economic Times, on the basis of industry respect and key financial
parameters.
 Images Most Admired Retailer of the Year - 2016 (Category Food & Grocery)
Awarded the "Most Admired Retailer of the year - 2016" (Food & Grocery) at India
Retail Forum.
 Fortune List of 50 Most Powerful Business WomanN. Bhuvaneswari, Vice
Chairperson & Managing Director, was placed in the list of Fortune-50 Most
Powerful Business Women in India for the year 2015

Exports
The Heritage dairy plant, Gokul at Kasipentla in Chittoor District, Andhra Pradesh is certified
and approved for export of ghee and butter manufactured in this plant by the Exports
Inspection Agency, India. Our products are exported to Europe, the Gulf and several
countries in Asia.

Our major exports are:

Heritage Pure Ghee in Bulk and Consumer Packs
Heritage Butter in Bulk and Consumer Packs
Heritage SMP (Skimmed Milk Powder) in Bulk & Consumer Packs

Heritage Parlour
Heritage Parlours are exclusive outlets selling the whole range of Heritage products including
Heritage milk, milk products, ice cream and also products supplied/approved by Heritage
Foods Ltd.
It is a franchisee-based business model that provides excellent business opportunities for new
entrepreneurs as well as existing business owners.
With a well-established network of over 858 Parlours in Hyderabad, Vishkapatanam,
Rajahmundry, Vijayawada, Tirupati and Chennai, Heritage Parlours play a vital role in
ensuring that Heritage products are available to customers at their doorstep. We consider
every parlour a brand ambassador of Heritage, and HFL along with the Franchisee ensures
that every Heritage Parlour delivers the right message to customers.
You need to fulfill these criteria to become a Heritage Parlour franchisee owner:
 Visibility – The shop should be in a residential or semi-commercial location.
 Shop Area: 100 square feet.
 Exclusive Heritage outlet- Selling only Heritage products and items
supplied/approved by Heritage Foods Limited.
 Will need to obtain the Shops and Establishment License and other required statutory
licenses/permissions.
 The Franchisee has to renovate/modify the shop as per the HFL design.
 The Franchisee would be required to furnish an interest-free refundable security
deposit of Rs.10,000/-.
 The delivery of products will be done through the regular channel of the company on
a cash and carry basis. (We do not have a policy of supply on credit.)
 The franchisee will have to invest in a deep freezer (300/400 ltrs capacity) for Ice-
creams and a Chest Cooler/Glass door refrigerator for milk and milk products.
 Franchisee should possess a bank account and will be required to submit residential
and identity proofs.
 The agreement with HFL has to be executed by the Franchisee for a period of three
years.
 Product sale depends on the season: For example, Butter-milk, Lassi and Ice creams
will have higher sales in summer and less in winter. The Franchisee should make
efforts to sell more quantities based on the season and should also cater to the milk
and milk products requirements of the nearby consumers/households on a regular
basis.
Heritage Distribution Centre
 The Heritage Distribution Centre (HDC) is an exclusive distribution wing for Heritage Foods
Ltd., selling the whole range of Heritage products including Heritage Milk, milk products,
ice-cream, and private label products and also products supplied/authorized by Heritage
Foods Ltd.
We consider the HDC to be a brand ambassador of
the Heritage brand and, HFL along with the
Franchisee, ensures that every Heritage Distribution
Center delivers the right service to customers.
To become a Heritage Distribution Center
franchisee owner:
 It must be an exclusive Heritage Outlet – selling only Heritage brand of products or
products/brands authorized by HFL.
 Should have at least 5 years of experience in selling Dairy/FMCG distribution.
 Should possess sound knowledge of distribution and should know the retailers and the
general business environment of the assigned market.
 Would obtain all the requisite licenses and permissions to run a distribution set-up.
 Should have requisite manpower and vehicles to conduct the distribution business.
 The franchisee needs to meet the laid down sales targets to ensure the overall viability of the
HDC.
 The franchisee would be required to furnish an interest free refundable security deposit of
Rs.75000/-.
 The franchisee would incur a fixed investment of Rs.5 lacs and a monthly expense of
approximately Rs.40500/-.
 The delivery of products will be done on a cash and carry basis.
 HFL would assist the franchisee in terms of milk coolers & freezers required for storage of
dairy products and conditional and part reimbursement of distribution expenses.
 The Franchisee should possess a bank account and needs to furnish proof of identity and
residence.
 The agreement with HFL has to be executed by the franchisee for a period of three years.
 Product sale depends on the season: For example, buttermilk, lassi and ice-creams will have
higher sales in summers and less in winters. The franchisee should make effort to sell more
quantities based on the season and should also cater to the milk & milk products requirements
of consumers/households of the nearby residential colonies on a regular basis.
PRODUCTS
 Milk
 UHT Milk
 Curd
 Buttermilk
 Ice-Creams
 Frozen Desserts
 Lassi
 Flavoured Milk

PRODUCTS MILK

TONED MILK DOUBLE TONED MILK

FULL CREAM MILK STANDARDISED MILK

 GOLDEN COW MILK SLIM MILK
ABOLITION OF FORCED LABOUR
The Company strictly prohibits forced or compulsory labour. The Company is committed to
ensuring that employees enter into employment and stay on in the Company of their own free
will. Members shall uphold this policy.
GIFTS & DONATIONS
No Member shall receive or offer, directly or indirectly, any gifts, donations, remuneration,
hospitality, illegal payments and comparable benefits which are intended or perceived to be
intended to obtain business (or uncompetitive) favours or decision for the conduct of the
business. Normal gifts of commemorative nature for special events may be accepted and
reported to the Board.
OTHER DIRECTORSHIPS
The Company feels that serving on the Board of directors of other companies may raise
substantial concerns about potential conflict of interest. Therefore all Directors shall report /
disclose such relationships to the Board on an annual basis. It is felt that service on the Board
of a direct competitor is not in the interest of the Company. Hence all the Directors are barred
in accepting such position without the concurrence of the Board.

ACCOUNTABILITY
The Board of Directors (BOD) shall oversee the Company's adherence to ethical and legal
standards. All employees and members of the BOD shall undertake to stop or prevent actions
that could harm customers or reputation of the Company and to report such actions as soon as
they occur to take corrective steps and see that such actions are not repeated.

COMPLIANCE WITH CODE OF CONDUCT

Each Director and senior management personnel shall adhere to this code of conduct and
affirm compliance with the code on an annual basis as per the Annexure to the Code.
Violation of this Code will lead to appropriate disciplinary action.

WAIVER OF THE CODE

Any waiver of the applicability of the Code or waiver of application of any provision of the
Code to any Member shall be approved by the Board of Directors and disclosed as required
by Law or SEBI / Stock Exchange regulations.

BRANCHES OF HFIL:
HFIL has many wings. They are
1. Dairy
2. Retail
3.
1. Dairy:
It is the major wing among all. The dairy products manufactured by HFIL are
Milk, curd, butter, ghee, flavoured milk, paneer, doodhpeda, ice cream.

2. Retail:
In the retail sector HFIL has outlets namely “Fresh@”. In those stores the
products sold are vegetables, milk& milk products, grocery, pulses, fruits etc.
In Hyderabad 19 retail shops are there. In Bangalore& Chennai, 3&4
respectively are there. Totally there are 26 retail shops are there.
Fresh@ is a unique chain of retail stores, designed to meet the needs of the
modern Indian consumer. The store rediscovers the taste of nature every day making grocery
shopping a never before experience.
The unique& distinctive feature of Fresh@ is that it offers the widest range of
fresh fruits and vegetables which are directly hand picked from the farms. Freshness lies in
their merchandise and the customers are always welcomed with fresh fruits and vegetables no
matter what what time they walk in.
The following are the directors of the company:
Sri D.Seetharamaiah
Smt. N. Bhuvaneswari
Sri M. Sivarama Varaprasad
Sri R.S.Bakkannavar

The Company was registered as Non Banking Financial Institution on 5th Day of December
1998 by Reserve Bank of India as a Deposit Taking Company under the category Hire
Purchase Company.

At Present the company is allowing Dairy Loans to Small Farmers under Tie up arrangement
with Heritage Foods (India) Limited. The Company has been earning profits from inception
and functioning in conformity with the rules and directions of Reserve Bank of India.