Heritage Foods Ltd

Heritage Foods Q3 FY26: Revenue Up 8% 📈, But Margins Under Pressure

• Q3 FY26 revenue: ₹11,192 million (8% YoY growth)

• 9MFY26 revenue: ₹33,684 million (9% YoY growth)

• Milk sales: 1.2 million liters per day (2.1% volume growth)

• Average milk selling price increased from ₹54.64/L to ₹57.31/L

• Value-Added Products revenue: ₹3,271 million (13.8% YoY growth), contributing 30.0% to total revenue

• VAP including ghee and butter consumer packs: ₹4,189 million (22.6% YoY growth)

• Heritage Nutrivet Limited subsidiary: 27% YoY revenue growth in Q3 FY26

• EBITDA declined 15% YoY to ₹629 million in Q3 FY26

• EBITDA margins dropped to 5.6% from 7.2% due to higher procurement costs and adverse weather

• PAT fell 20% YoY to ₹346 million in Q3 FY26

• PAT margins decreased to 3.1% from 4.2%

• Ice cream plant in Shamirpet, Hyderabad targeted for commercial production by March 2026