About
Heritage Foods Limited procures and processes milk and milk products in India. The company operates through Dairy, Renewable Energy, and Feed segments. It offers milk, curd, butter milk, lassi, ice cream, frozen desserts, milkshakes, paneer, ghee, butter, cheese, fresh cream, cold coffee, cooking butter, milk powder, flavored milk, UHT milk, and dairy whitener products; and operates and franchises Heritage Parlour outlets, as well as exports dairy products. The company also produces power through solar and wind power plants. In addition, it provides cattle feed, feed supplements, veterinary medicines, and fish feed. The company was incorporated in 1992 and is headquartered in Hyderabad, India.
Key Metrics
as of Sep 2026Market Cap3,546 Cr
P/E28.00
Div Yield0.65 %
Book Value₹119.00
52w High₹542.00
52w Low₹292.00
Face Value₹5.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,338.00 | 1,158.00 | 1,119.00 | 1,113.00 | 1,137.00 | 1,048.00 | 1,034.00 | 1,020.00 | 1,033.00 | 951.00 | 941.00 | 979.00 | 924.00 |
| Expenses | 1,276.00 | 1,105.00 | 1,056.00 | 1,035.00 | 1,064.00 | 970.00 | 962.00 | 938.00 | 940.00 | 882.00 | 891.00 | 933.00 | 885.00 |
| Operating Profit | 62.00 | 52.00 | 63.00 | 77.00 | 73.00 | 78.00 | 72.00 | 81.00 | 92.00 | 69.00 | 50.00 | 45.00 | 39.00 |
| OPM % | 4.60 | 4.50 | 6.00 | 7.00 | 6.00 | 7.00 | 7.00 | 8.00 | 9.00 | 7.00 | 5.00 | 4.60 | 4.20 |
| Other Income | 6.00 | 7.00 | 8.00 | 15.00 | 5.00 | -2.00 | 8.00 | 7.00 | 6.00 | 5.00 | 3.00 | 2.00 | 3.00 |
| Depreciation | 26.00 | 22.00 | 20.00 | 20.00 | 19.00 | 18.00 | 18.00 | 17.00 | 17.00 | 16.00 | 16.00 | 15.00 | 15.00 |
| Interest | 8.00 | 5.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 3.00 | 3.00 | 2.00 | 2.00 | 3.00 |
| Profit before tax | 34.00 | 32.00 | 46.00 | 68.00 | 55.00 | 54.00 | 59.00 | 67.00 | 78.00 | 55.00 | 36.00 | 31.00 | 24.00 |
| Tax % | 26.00 | 25.00 | 25.00 | 25.00 | 26.00 | 30.00 | 27.00 | 28.00 | 25.00 | 26.00 | 25.00 | 27.00 | 29.00 |
| Net Profit | 25.00 | 24.00 | 35.00 | 51.00 | 41.00 | 38.00 | 43.00 | 49.00 | 58.00 | 40.00 | 27.00 | 22.00 | 17.00 |
| EPS in Rs | 2.69 | 2.58 | 3.73 | 5.50 | 4.37 | 4.11 | 4.64 | 5.24 | 6.30 | 4.36 | 2.90 | 2.41 | 1.80 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,526.00 | 4,135.00 | 3,794.00 | 3,241.00 | 2,681.00 | 2,473.00 | 2,726.00 | 2,515.00 | 2,373.00 | 1,894.00 | 2,381.00 | 2,073.00 |
| Expenses | 4,260.00 | 3,809.00 | 3,590.00 | 3,109.00 | 2,495.00 | 2,212.00 | 3,108.00 | 2,458.00 | 2,628.00 | 1,761.00 | 2,248.00 | 1,989.00 |
| Operating Profit | 266.00 | 326.00 | 203.00 | 132.00 | 186.00 | 261.00 | -382.00 | 57.00 | -255.00 | 134.00 | 132.00 | 84.00 |
| OPM % | 6.00 | 8.00 | 5.00 | 4.10 | 7.00 | 11.00 | -14.00 | 2.20 | -11.00 | 7.00 | 6.00 | 4.00 |
| Other Income | 34.00 | 19.00 | 12.00 | 12.00 | 2.00 | 7.00 | 302.00 | 138.00 | 402.00 | 251.00 | 5.00 | 7.00 |
| Interest | 18.00 | 17.00 | 9.00 | 6.00 | 6.00 | 21.00 | 24.00 | 23.00 | 20.00 | 49.00 | 17.00 | 18.00 |
| Depreciation | 81.00 | 70.00 | 61.00 | 56.00 | 52.00 | 46.00 | 50.00 | 45.00 | 38.00 | 25.00 | 35.00 | 34.00 |
| Profit before tax | 201.00 | 258.00 | 145.00 | 82.00 | 130.00 | 202.00 | -154.00 | 127.00 | 90.00 | 310.00 | 86.00 | 39.00 |
| Tax % | 25.00 | 27.00 | 27.00 | 29.00 | 26.00 | 26.00 | 10.00 | 35.00 | 30.00 | 10.00 | 36.00 | 28.00 |
| Net Profit | 150.00 | 188.00 | 107.00 | 58.00 | 96.00 | 148.00 | -169.00 | 83.00 | 63.00 | 278.00 | 55.00 | 28.00 |
| EPS in Rs | 16.18 | 20.29 | 11.48 | 6.25 | 10.41 | 16.16 | -17.27 | 8.77 | 6.76 | 29.64 | 5.97 | 3.06 |
| Dividend Payout % | 15.00 | 12.00 | 22.00 | 40.00 | 24.00 | 15.00 | -7.00 | 11.00 | 15.00 | 3.00 | 13.00 | 25.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 46.00 | 46.00 | 46.00 | 46.00 | 23.00 | 23.00 | 23.00 | 23.00 | 23.00 | 23.00 | 23.00 | 23.00 |
| Reserves | 1,057.00 | 926.00 | 762.00 | 679.00 | 634.00 | 573.00 | 436.00 | 779.00 | 754.00 | 568.00 | 217.00 | 170.00 |
| Borrowings | 361.00 | 175.00 | 132.00 | 168.00 | 19.00 | 64.00 | 306.00 | 299.00 | 280.00 | 158.00 | 126.00 | 157.00 |
| Other Liabilities | 485.00 | 412.00 | 341.00 | 231.00 | 226.00 | 219.00 | 223.00 | 533.00 | 649.00 | 247.00 | 209.00 | 175.00 |
| Total Liabilities | 1,950.00 | 1,558.00 | 1,281.00 | 1,125.00 | 903.00 | 879.00 | 988.00 | 1,635.00 | 1,707.00 | 996.00 | 575.00 | 526.00 |
| Fixed Assets | 1,164.00 | 748.00 | 704.00 | 622.00 | 579.00 | 580.00 | 481.00 | 476.00 | 433.00 | 296.00 | 312.00 | 281.00 |
| CWIP | 50.00 | 68.00 | 20.00 | 20.00 | 8.00 | 18.00 | 77.00 | 42.00 | 9.00 | 8.00 | 10.00 | 9.00 |
| Investments | 186.00 | 196.00 | 140.00 | 15.00 | 18.00 | 13.00 | 152.00 | 835.00 | 1,002.00 | 478.00 | 1.00 | 1.00 |
| Other Assets | 550.00 | 547.00 | 416.00 | 469.00 | 298.00 | 267.00 | 278.00 | 282.00 | 263.00 | 214.00 | 252.00 | 235.00 |
| Total Assets | 1,950.00 | 1,558.00 | 1,281.00 | 1,125.00 | 903.00 | 879.00 | 988.00 | 1,635.00 | 1,707.00 | 996.00 | 575.00 | 526.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 237.00 | 214.00 | 390.00 | -61.00 | 148.00 | 174.00 | 117.00 | 148.00 | 121.00 | 115.00 | 125.00 | 52.00 |
| Cash from Investing Activity | -375.00 | -229.00 | -252.00 | -83.00 | -42.00 | 69.00 | -97.00 | -133.00 | -200.00 | -126.00 | -66.00 | -47.00 |
| Cash from Financing Activity | 138.00 | 1.00 | -76.00 | 126.00 | -93.00 | -191.00 | -22.00 | -3.00 | 55.00 | -13.00 | -55.00 | -8.00 |
| Net Cash Flow | 0.00 | -14.00 | 62.00 | -17.00 | 13.00 | 51.00 | -2.00 | 12.00 | -23.00 | -24.00 | 4.00 | -4.00 |
| Free Cash Flow | -142.00 | 42.00 | 267.00 | -140.00 | 106.00 | 108.00 | 8.00 | 24.00 | -19.00 | 24.00 | 58.00 | 4.00 |
| CFO/OP % | 104.00 | 86.00 | 210.00 | -29.00 | 98.00 | 87.00 | -36.00 | 328.00 | -59.00 | 108.00 | 117.00 | 73.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 6.00 | 3.00 | 3.00 | 3.00 | 3.00 | 2.00 | 3.00 | 6.00 | 2.00 | 3.00 | 4.00 | 4.00 |
| Inventory Days | 35.00 | 44.00 | 33.00 | 55.00 | 38.00 | 39.00 | 24.00 | 27.00 | 31.00 | 31.00 | 28.00 | 31.00 |
| Days Payable | 23.00 | 21.00 | 18.00 | 7.00 | 10.00 | 7.00 | 10.00 | 13.00 | 13.00 | 15.00 | 16.00 | 17.00 |
| Cash Conversion Cycle | 18.00 | 26.00 | 18.00 | 52.00 | 31.00 | 35.00 | 17.00 | 20.00 | 19.00 | 19.00 | 16.00 | 18.00 |
| Working Capital Days | -5.00 | 5.00 | 1.00 | 13.00 | 10.00 | 4.00 | -15.00 | -18.00 | -22.00 | -18.00 | -8.00 | -13.00 |
| ROCE % | 15.00 | 25.00 | 16.00 | 10.00 | 21.00 | 31.00 | -14.00 | 14.00 | 12.00 | 64.00 | 29.00 | 17.00 |
Corporate Actions
32 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 15 Jul 2026 | 15 Jul 2026 | — | 2.50 | |
| Dividend | 23 Jul 2025 | 23 Jul 2025 | — | 2.50 | |
| Dividend | 13 Aug 2024 | — | — | 2.50 | |
| Dividend | 14 Aug 2023 | — | — | 2.50 | |
| Rights | 20 Jan 2023 | 20 Jan 2023 | 1:1 | — | |
| Other | 20 Jan 2023 | 20 Jan 2023 | — | — | Right Issue of Equity Shares |
| Dividend | 21 Jul 2022 | — | — | 2.50 | |
| Dividend | 01 Nov 2021 | 02 Nov 2021 | — | 2.50 | |
| Dividend | 22 Jul 2021 | — | — | 5.00 | |
| Dividend | 19 Aug 2020 | — | — | 2.50 | |
| Dividend | 21 Aug 2019 | — | — | 2.00 | |
| Dividend | 20 Aug 2018 | — | — | 2.00 | |
| Split | 10 Oct 2017 | 11 Oct 2017 | 10:5 | — | |
| Dividend | 11 Aug 2017 | — | — | 1.00 | NSE/BSE dividend mismatch: BSE/NSE=3.0; BSE/NSE=1.0 |
| Dividend | 11 Aug 2017 | — | — | 3.00 | NSE/BSE dividend mismatch: BSE/NSE=3.0; BSE/NSE=1.0 |
| Dividend | 09 Aug 2016 | — | — | 3.00 | |
| Dividend | 15 Sep 2015 | — | — | 3.00 | |
| Dividend | 18 Sep 2014 | — | — | 3.00 | |
| Bonus | 26 Jul 2013 | 29 Jul 2013 | 1:1 | — | |
| Dividend | 19 Jun 2013 | — | — | 3.00 | |
| Dividend | 24 Sep 2012 | — | — | 2.00 | |
| Dividend | 22 Sep 2011 | — | — | 1.20 | |
| Dividend | 22 Jul 2010 | — | — | 1.80 | |
| Other | 23 Sep 2009 | — | — | — | Annual General Meeting |
| Dividend | 18 Sep 2008 | — | — | 1.80 | NSE/BSE dividend mismatch: NSE=0.9; BSE=1.8 |
| Dividend | 18 Sep 2008 | — | — | 0.90 | NSE/BSE dividend mismatch: NSE=0.9; BSE=1.8 |
| Dividend | 30 Jul 2007 | — | — | 3.00 | NSE/BSE dividend mismatch: NSE=1.5; BSE=3.0 |
| Dividend | 30 Jul 2007 | — | — | 1.50 | NSE/BSE dividend mismatch: NSE=1.5; BSE=3.0 |
| Dividend | 19 Jul 2006 | — | — | 3.00 | |
| Dividend | 29 Jun 2005 | — | — | 1.50 | |
| Other | 12 Nov 2001 | 29 Nov 2001 | — | — | Voluntary Delisting of Shares |
| Dividend | 03 Sep 2001 | — | — | 1.60 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update5 Mar from crisil
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Rating update24 Feb 2025 from crisil
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Rating update27 Nov 2023 from crisil
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Rating update9 Jan 2023 from crisil
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Rating update6 Jan 2023 from crisil
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Rating update20 Oct 2021 from crisil
Conference Calls
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