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Heritage Foods share price & results

Heritage Foods Limited· Fast Moving Consumer Goods

Results to
Sept 2026
Latest analysed call
Q2 FY27
Ownership as of
Sept 2026

Southern India dairy major processing milk from 300,000+ farmers into VAP, ice-cream and ghee via 18 plants.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue1,320 ₹ crore+18.6% YoYQuarterly, as filedQuarter to Sept 2026Revenue from operations as filed.
Operating margin6.0 %−1.0 pts YoYOperating profit / revenueQuarter to Sept 2026For the quarter; a change is in percentage points.
Net profit31.0 ₹ crore−39.2% YoYQuarterly, as filedQuarter to Sept 2026Profit after tax as filed.
Return on equity10.07 %−7.6 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin-3.14 %−4.2 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)13.92 %+0.5 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Guidance

What management said, and what became of it

7 of 14 judged targets kept · 12 open · verdicts reflect calls analysed to Q2 FY27.

Heritage Foods Limited management guidance track record on Inve: 26 targets tracked across analysed earnings calls (7 achieved, 7 missed, 12 open).

TargetOriginal wordingSaidLatest callVerdict
Milk Volume Growth5 to 6 percentage range (Near future)
Call transcript, Q2 FY25 · 25 Oct 2024		Q2 FY25Q2 FY27:Milk procurement volume grew 7% YoY, exceeding the revised 4% target and falling within the original 5-6% range (if interpreted as up to 7%). This marks a significant turnaround after multiple quarters of misses.
Call transcript, Q2 FY27 · 16 Oct 2026		Achieved
EBITDA Margin7% to 8% (Long-term)
Call transcript, Q2 FY25 · 25 Oct 2024		Q2 FY25Q2 FY27:EBITDA margin improved sequentially to 5.6%, but remains below the original target (7-8%), the revised target (7-9%), and the 'bad year' floor (6.5-7%).
Call transcript, Q2 FY27 · 16 Oct 2026		Missed
Overall Volume Growth10% to 11% for operating leverage to kick in
Call transcript, Q3 FY26 · 29 Jan 2026		Q3 FY26Q2 FY27:Milk procurement volume grew 7% and VAP revenue grew 32%. While no overall volume number was provided, the components are strong. However, EBITDA margin at 5.6% suggests operating leverage is not fully kicking in as envisioned.
Call transcript, Q2 FY27 · 16 Oct 2026		At Risk

Source: Inve Guidance Tracker for Heritage Foods Limited · to Q2 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

7 of Heritage Foods Limited's 26 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 23 more targets are in the full ledger.

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Price

₹356.2 +3.52% · +₹12.1

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −25.9% 1Y

₹300₹350₹400₹450₹500Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q3 FY26 — 29 Jan 2026Q4 FY26 — 12 May 2026Q1 FY27 — 17 Jul 2026Q2 FY27 — 16 Oct 2026

1Y: ₹480.4 on 24 Oct 2025 → ₹356.2. High ₹494.45 (27 Oct 2025), low ₹293.95 (30 Mar 2026).

Previous close
₹344.1
Market cap
₹3.6k Cr
52-week range
₹293.95 – ₹494.45
One year
−27.96%
Price to earnings (TTM to Sept 2026)
31.48×
Return on equity (TTM to Sept 2026)
10.07%

Overview

Symbol
NSE:HERITGFOOD
Exchange
NSE
Currency
INR

What Heritage Foods Limited does

Based on the company's own presentations, annual report and earnings calls.

Heritage Foods procures raw milk directly from farmers through a federated supply chain of chilling centres and processing plants, then converts it into liquid milk and a wide range of value-added dairy products (curd, paneer, lassi, ghee, drinkables, ice-cream and sweets) sold under the Heritage brand through an omnichannel distribution network spanning owned retail, general trade, e-commerce and Q-commerce. Its wholly-owned subsidiary Heritage Nutrivet manufactures and distributes cattle feed, fish feed and feed supplements to farmers, while joint-venture subsidiary Heritage Novandie produces French-style yogurt under the "Mamie Yova" brand for the Indian market.

Segments

  • Dairy (Milk & Value-Added Products)
  • Heritage Nutrivet
  • Heritage Novandie
Farmer network
300,000+ farmers across 9 procurement states
Milk processing plants
18 state-of-the-art plants
Chilling centres / bulk coolers
190
Installed milk processing capacity
2.95 million litres per day (MLPD)
Distribution network
7,500+ distributors and 225,000+ retail outlets
Consumers serviced daily
10 million
Founded 1992Headquarters Andhra Pradesh, India Company website

How the price took the results

close before → close after

Q2 FY27
+1.9%
16 Oct
Q1 FY27
−1.3%
17 Jul
Q4 FY26
−7.6%
12 May
Q3 FY26
−8.5%
29 Jan

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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