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Heritage Foods Ltd. Company History and Annual Growth Details

YEAR EVENTS
1992 - The company was incorporated on June 5th as a Public Limited
Company under the Companies Act, 1956 and obtained the
certificate of commencement of business on 10th July, 1992. The
main object of the Company is to manufacture, process & deal in
milk and various milk products. It was promoted by N.
Chandrababu Naidu along with his relatives, friends and
associates.

- The Company undertook to set up an integrated dairy project with
an aggregate Capacity of 2,12,500 LPD comprising of a main dairy
at Kasipentla village and three chilling centres in Chandragiri
Mandal of Chittoor district of A.P.

- It was proposed to increase the existing capacity at Chittoor,
Piler and Madanapalle to 37,500 LPD each.

1995 - The Company strengthened its position in the existing markets at
Chennai & Hyderabad.

- 8,05,700 No. of equity shares subscribed by signatories to the
Memorandum of Articles of Association, Promoters, resident
Indian Directors, their friends, relatives and associates.
99,94,300 No. of equity shares of Rs 10 each were issued in
November 1994 are as follows: (i) On Firm Allotment Basis:
15,60,000 shares to Overseas Corporate bodies, NRIs on
repatriation basis, (ii) 3,50,000 shares to Mutual Funds.
(ii) Preferential Allotment Basis: (a) 9,50,00 shares to Indian
Mutual funds (all were taken up), (ii) 9,00,000 shares to Indian
financial Institutions (all were taken up), (iii) 13,600 shares
to employees (all were taken up). Balance 27,26,400 shares
issued to the public.

1996 - The Chilling and Pasterising sections at the Company's main dairy
plant Gokul was commissioned during March.

- The Company was also selectively setting up own chilling centres
and encouraging new enterpreneurs to set up Franchise units to
augment milk supply to meet the increasing demand for milk and
milk products.

1997 - A new Milk Chilling Centre was commissioned in Tiruvannamalai
during 2nd quarter of the year. The Dairy Products viz., Ghee
and Skimmed Milk Powder were launched in Consumer Packs in the
markets of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.

2001- The Board of Directors of the company has decided to de-list equity shares of the company from Madras Stock Exchange.

2004

-Birla Mutual Fund acquires more than 5% of the paid up equity share capital of Heritage Foods (I) Ltd.

2007

-Heritage Foods India Ltd has informed that Dr. V Nagarja Naidu vacates the office of 'Managing Director' of the Company and continues to be Director on the Board effective from April 01, 2007.
 
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