Heritage Foods Limited has informed the Exchange about Investor Presentation
HERITGFOOD · price
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Heritage Foods reported FY26 revenue of ₹45,260 million (up 9% YoY), but EBITDA fell 19.5% to ₹2,663 million with margins declining to 5.9% from 8.0% in FY25 due to severe milk shortages and procurement inflation. Q4 saw even steeper margin compression with EBITDA down 34.6% to ₹522 million. Despite industry headwinds including weak flush season and elevated raw milk costs, the company achieved volume-led growth in milk sales (1.17 MLPD, up 1.2%) and strong performance in Value-Added Products (VAP revenue up 18% in Q4 to ₹3,957 million, contributing 35.5% to total revenue). The subsidiary Heritage Nutrivet also grew 32% YoY to ₹2,454 million revenue. The company maintained its 50% dividend payout and continued investing in capacity expansion including a new ice cream plant.
Margin pressure from raw material inflation is a near-term concern, but the shift toward higher-margin VAP products (targeting 40% revenue contribution by FY28) and new ice cream capacity provide long-term growth visibility. The stock may face near-term earnings pressure but the strategic premiumisation focus could support valuations.