Heritage Foods : Outcome of Board Meeting

Ref: SECT: STOC: 24-22

March 25, 2022

To

BSE Limited

The Secretary

Phiroze Jeejeebhoy Towers, Dalal Street,

Mumbai - 400 001

Scrip Code: 519552

Sub: Outcome of the Board Meeting - reg:­

Dear Sir/Madam,

To

National Stock Exchange of India Limited

The Manager, Listing Department,

Exchange Plaza, C-1, G Block, Bandra-Kurla Complex, Bandra (East). Mumbai- 400 051

Scrip Code: HETGFOOD

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirement) Regulations 2015, this is to inform you that the Board of Dectors of the Company at its meeting held on Friday 25th March, 2022, approved the following items:

• 1. Purchase of assets and acquiring of procurement & sales network from M/s Suguna Dairy Products (India) Private Limited. Details pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 regarding the purchase is attached in Annexure-1.

• 2. On the recommendation of the Nomination and Remuneration Committee, approved the continuation of directorship of Dr. V Nagaraja Naidu (DIN: 00003730), Non-Executive Director of the Company in terms of Regulation 17(1A) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2018, subject to approval by Members of the Company by way of Special Resolution through Postal Ballot. A brief profile of Dr. V Nagaraja Naidu is attached in Annexure-2.

• 3. The Postal Ballot notice r continuation of directorship of Dr. V Nagaraja Naidu (DIN: 00003730) and calendar of events. The notice of Postal ballot shall be submitted to stock exchanges when it will be circulated to Members of the Company as per the applicable provision of the Companies Act, 2013 and SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015.

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

The meeting of the Board of Directors commenced at 12:30 pm (IST) and concluded at 02:45 pm (IST).

Thanks & Regds

For HE�:t:E � LIMITED

U�K

Company Secretary & Compliance Officer M. No: FCS-6317

Encl: a/a

About the Oopany:

Heritage Foods founded in the year 1992 is one of the fastest growing Private Sector Enterprises in India, with o business divisions' v., Dairy and Renewable Ener under its flagship company Heritage Foods Limited and Cattle feed business rough 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 ener generation capaci of 10.39 MW from both Solar and Wind for captive consumption of its dail}' factories.

HERITAGE FOODS LIMI

CIN: L15209TG1992PLC014332

Email:hfl@heritagefoods.in, Website : www.heritagefoods.in

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Details pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 e as llows:

Sl No

Details

1

M/s Suguna Dai Products (India) Private Limited (CIN:U15100Ꜩ2006PTC012976) a Company incorporated on l•t August, 2006, and having its registered office at 6th Floor, Jaya Enclave, 1057, Avinashi Road, Coimbatore, Tamil Nadu-641018, India. Its authorized share capital is Rs.20,00,00,000 and its paid up capital is Rs.18,41,45,400

Whetherthe transactionwouldfall

It's not a related party transaction

within related party transactions and whether the promoter/ promoter oup/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at "m's length";

acqued belongs

Indust to which the entity beingM/s Suguna Dai Products (India) Private Limited is engaged in the Dairy business (Milk and Milk Products)

Objects and effects of acquisition

4

To expand the Dai business of the Company to strengthen South Tamil Nadu and part of Kerala markets.

Brief details of any governmental or Not Applicable

5

The proposed transaction is not to acquire a corporate entity, it is purchase of assets and acquiring of procurement & sales network from M/s Suguna Dai Products (India) Private Limited.

M/s Suguna Dai Products (India) Private Limited, a Compy incorporated on 1st August, 2006, and having its registered office at 6th Floor, Jaya Enclave, 1057, Avinashi Road, Coimbatore,

Tamil Nadu-641018, India and engaged in the business of Dai products (Milk and Milk Products).

M/s Suguna is having own procurement of 15000 lpd om 2

Chilling Centres and 10000 lpd om business Associates. Selling around 19000 lpd/kgpd (milk 17000 lpd & curd 2000 kgpd) in South Tamilnadu and Kerala markets.

HERITAGE FOODS LIMIT>�--�

CIN: L15209TG1992PLC014332

Brief proe of Dr. V Nagarja Naidu

Dr. V Nagaraja Naidu, is a postgraduate in Commerce and Doctorate in Financial Management. Dr. Naidu started his career om Administrative Staff College of India, Hyderabad in 1972 held various positions in reputed Universities viz,. Professor, Dean Director etc., and taught in the fields of Finance and Business Economics at Post graduate and Doctorate levels. He had been the Registrar (Administrative head) of the Dr. B R Ambedkar Open University for about 10 years. Dr. V Nagaraja Naidu was Whole-time Director/Managing Director of the Company during 1995 to 2007 and is well-versed with Dairy business.

HERITAGE FOODS LIMITED

CIN: L15209TG1992PLC014332

Regd. Off:# 6-3-541/C, Panjagutta, Hyderabad- 500 082. Telangana, INOIA. Tel.: +91-40-23391221, 23391222, Fax: 23326789, 23318090