Audited Financial Result for the Year ended March 31, 2026
HERITGFOOD · price
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Heritage Foods reported FY26 standalone revenue of Rs 4,415 crore, up 8.2% YoY driven by dairy segment growth. However, profit before tax declined 20.4% to Rs 185.79 crore and PAT fell 16.9% to Rs 139.70 crore. EBITDA margin compressed significantly — from ~6.2% in FY25 to ~4.6% in FY26 — due to higher raw material costs (cost of materials consumed rose from Rs 2,998 crore to Rs 3,202 crore). The company recorded an exceptional gain of Rs 101.35 million from a favourable GST refund on flavoured milk classification, partly offset by an impairment loss on investment in Heritage Novandie Foods Limited (HNFL). A one-time charge of Rs 48.07 million was recognised due to new labour code amendments. Consolidated PAT was Rs 150.14 crore (vs Rs 188.28 crore YoY). The board recommended a final dividend of Rs 2.50 per share (50%). Auditors gave an unmodified opinion with no going concern issues.
Revenue growth is positive but the sharp compression in EBITDA margins and PAT decline are concerning. The labour code charge and impairment add to cost pressures. Dividend payout remains modest and shareholders should monitor raw material cost trends in the coming quarters.