Heritage Foods Q2 FY27: Revenue up 19%, VAP drives growth despite cost inflation
HERITGFOOD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 3.3 pts less than Nifty Microcap 250 and 5.9 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.
Minute windows have no benchmark: there is no intraday index history to compare against.
Q2 FY27 consolidated revenue grew 19% YoY to INR1,319.6 crore; H1 up 18% to INR2,657.7 crore. EBITDA at INR74 crore, up 98 bps sequentially to 5.6% margin; PAT INR30.9 crore. Milk procurement up 7% at 17.28 lakh litres per day but cost rose 11% YoY to INR47.73 per litre due to El Nino and feed inflation. Value-added products revenue jumped 32% YoY to INR451 crore, lifting VAP mix to 35.4% from 31.3%. Heritage Nutrivet revenue up 47% YoY. Management says operating leverage and price hikes taken in Q2 will support further sequential EBITDA improvement in Q3.
Milk cost inflation remains a drag on margins, but stronger VAP mix, pricing actions and operating leverage should aid sequential recovery from Q3 onwards.