Heritage Foods Q1FY27: Revenue up 18% to record high, PAT down 38% on milk costs
HERITGFOOD · price
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On the reaction day the stock moved 0.5 pts less than Nifty Microcap 250 and 0.7 pts less than its Dairy Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Heritage Foods Q1FY27 revenue grew 18% YoY to a record ₹13,381 Mn despite a 7.2% rise in milk procurement costs to ₹46.61 per litre. Value-added products revenue jumped about 40% to ₹5,636 Mn, reaching a record 44% of total revenue (versus 36% year-ago), with Paneer up 33%, Curd 26%, Buttermilk 60% and Lassi 98% by volume. Profitability was hit by inflation as EBITDA fell 29% to ₹619 Mn with margin compressing 188 bps to 4.6%, while PAT declined 38% to ₹250 Mn. Company made Novandie Foods a wholly owned subsidiary and raised stake in Peanut Butter and Jelly (GETAWAY) to 71%.
Strong topline and VAP momentum are positives, but compressed margins and 38% PAT fall flag cost pressure. Recovery depends on milk inflation easing.