Management walked the talk with 41.5% contribution from Value Added Products (VAP). This also reflected in their EBITA margin of 11%.
Furthermore, considering similar margin phase of Hatsun agro from 2016-2019, heritage foods is relatively highly undervalued. (Hatsun use to trade at an average of 2.3 price/sales during 2016-19)
Let’s see what future holds!
Invested hence biased.
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