Heritage Foods : Limited Review Report

Ref: SECT: STOC: 10-22

January 21, 2022

To	To
The Secretary	The Manager,
BSE Limited	Listing Department,
Phiroze Jeejeebhoy Towers,	National Stock Exchange of India Limited
Dalal Street,	Exchange Plaza, C-1, G Block, Bandra-Kurla
Mumbai - 400 001	Complex, Sandra(East), Mumbai - 400 051
Scrip Code: 519552	Scrip Code: HERITGFOOD
Dear Sir/Madam,

Sub: Limited Review Report on the Un-audited Financial Results (Standalone & Consolidated) for the 3rd Quarter and Nine Months ended December 31, 2021

Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Un-Audited Financial Results (Standalone & Consolidated) of the Company for the 3rd Quarter and Nine Months ended December 31, 2021, was approved by the Board of Directors at their meeting held on today i.e. January 21, 2022, were reviewed by M/s. Walker Chandiok & Co LLP, Chartered Accountants, (FRN No: 001076N/N500013), Hyderabad, Statutory Auditors of the Company. A Copy of the Limited Review report issued by M/s. Walker Chandiok & Co LLP, Chartered Accountants, Hyderabad Statutory Auditors of the Company is enclosed herewith.

Kindly take the same on record and display the same on the website of your exchange.

Thanks & Regards,

For HERITAGE FOODS LIMITED

UMAKANTA BARIK

Company Secretary & Compliance Officer

1. No: FCS-6317 Encl: a/a

About the Company:

Heritage Foods founded in the year 1992 is one of the fastest growing Private Sector Enterprises in India, with two business divisions' viz., Dairy and Renewable Energy under its flagship company Heritage Foods Limited and Cattle feed business through its subsidiary, Heritage Nutrivet Limited (HNL). Presently Heritage's milk and milk products have market presence in Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharashtra, Odisha, NCR Delhi, Haryana, Uttar Pradesh and Uttarakhand. It has total renewable energy generation capacity of 10.39 MW from both Solar and Wind for captive consumption of its dairy factories.

HERITAGE FOODS LIMIT

CIN: L15209TG1992PLC014332

AN ISO: 22000 CERTIFIED COMPANY

FSMS 002

Regd. Off:# 6-3-541/C, Panjagutta, Hyderabad - 500 082. Telangana, INDIA. Tel.: [phone], Fax: [phone]

Email: [e-mail], Website : www.heritagefoods.in

	Walker Chandiok & Co LLP
	7th Floor, Block III,
	White House, Kundan Bagh,
	Begumpet
Hyderabad - 500 016
	India
	T [phone]
	F [phone]

Independent Auditor's Review Report on Standalone Unaudited Quarterly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of Heritage Foods Limited

1. We have reviewed the accompanying statement of standalone unaudited financial results ('the Statement') of Heritage Foods Limited ('the Company') for the quarter ended 31 December 2021 and the year to date results for the period 1 April 2021 to 31 December 2021, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time.
2. The Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting ('Ind AS 34'), prescribed under Section 133 of the Companies Act, 2013 ('the Act'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time. Our responsibility is to express a conclusion on the Statement based on our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Chartered Accountants	Walker Chandiok & Co LLP is registered with
	limited liability with identification number AAC-
Offices in Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad,	2085 and its registered office at L-41
Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune	Connaught Circus, New Delhi, 110001, India

4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Walker Chandiok & Co LLP

Chartered Accountants

Firm Registration No: 001076N/N500013

SANJAY KUMAR JAIN

Digitally signed by SANJAY KUMAR JAIN Date: 2022.01.21 10:48:30 +05'30'

Sanjay Kumar Jain

Partner

Membership No. 207660

UDIN: 22207660AAAAAR2970

Place: Hyderabad

Date: 21 January 2022

Walker Chandiok & Co LLP

7th Floor, Block III,

White House, Kundan Bagh,

Begumpet

Hyderabad - 500 016

India

T [phone]

F [phone]

Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of Heritage Foods Limited

1. We have reviewed the accompanying statement of unaudited consolidated financial results ('the Statement') of Heritage Foods Limited ('the Holding Company') and its subsidiaries (the Holding Company and its subsidiaries together referred to as 'the Group'), its associate and joint venture (refer Annexure 1 for the list of subsidiaries, associate and joint venture included in the Statement) for the quarter ended 31 December 2021 and the consolidated year to date results for the period 1 April 2021 to 31 December 2021 being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time.
2. This Statement, which is the responsibility of the Holding Company's management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting ('Ind AS 34'), prescribed under section 133 of the Companies Act, 2013 ('the Act'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time. Our responsibility is to express a conclusion on the Statement based on our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Chartered Accountants	Walker Chandiok & Co LLP is registered with
	limited liability with identification number AAC-
Offices in Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Kochi,	2085 and its registered office at L-41
Kolkata, Mumbai, New Delhi, Noida and Pune	Connaught Circus, New Delhi, 110001, India

We also performed procedures in accordance with the SEBI Circular CIR/CFD/CMD1/44/2019 dated 29 March 2019 issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), to the extent applicable.

1. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including the manner in which it is to be disclosed, or that it contains any material misstatement.
2. The Statement includes the interim financial information of two subsidiaries, which have not
   been reviewed by their auditors, whose interim financial information reflect total revenues of ₹Nil and ₹0.01 millions, net loss after tax of ₹1.16 millions and ₹2.05 millions, total comprehensive loss of ₹1.16 millions and ₹2.05 millions, for the quarter and nine-month period ended 31 December 2021 respectively, as considered in the Statement and have been furnished to us by the Holding Company's management. Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, are based solely on such unreviewed interim financial information. According to the information and explanations given to us by the management, these interim financial information are not material to the Group.
   Our conclusion is not modified in respect of this matter with respect to our reliance on the financial information certified by the Board of Directors.

For Walker Chandiok & Co LLP

Chartered Accountants

Firm Registration No: 001076N/N500013

SANJAY KUMAR JAIN

Digitally signed by SANJAY KUMAR JAIN Date: 2022.01.21 10:47:26 +05'30'

Sanjay Kumar Jain

Partner

Membership No. 207660

UDIN: 22207660AAAAAS4424

Place: Hyderabad

Date: 21 January 2022