Heritage Foods Ltd — earnings calls

Heritage Foods reported consolidated revenue up 18% year-on-year to INR13,381 million for Q1 FY27, with EBITDA of INR619 million at a 4.6% margin and PAT of INR150 million at a 1.9% margin. Value-added products revenue grew 40% year-on-year to INR5,636 million, reaching a record 44% share of consolidated revenue, while milk procurement prices rose 7% year-on-year to INR46.61 per liter. Management attributed gross margin decline to a mix shift toward cow milk, higher SMP consumption, and packing material cost increases.

Heritage Foods reported Q4 FY26 consolidated revenue growth of 10% year-on-year to INR 11,576 million amid a tight milk supply environment and elevated procurement inflation, with full-year revenue crossing INR 45,260 million. EBITDA margin for the quarter came in at 4.5% and PAT margin at 2.1%, as procurement price inflation of 8% year-on-year outpaced milk sale price increases of 4%. Management highlighted continued growth in value-added products, which rose to 35.5% of quarterly revenue, and discussed capacity expansions in ice cream and flavoured milk along with the recent acquisition of a majority stake in Peanutbutter and Jelly Private Limited.