Board meeting outcome: Q2 and H1 FY27 unaudited results approved, auditors' limited review taken on record
Board meeting held Oct 15, 2026 (11:30 am to 2:50 pm IST) approved the unaudited standalone and consolidated financial results for the quarter and six months ended September 30, 2026.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 13,195.80 | 11,125.17 | +18.6% | 13,380.94 | −1.4% |
| Total income | 13,229.46 | 11,176.83 | +18.4% | 13,445.03 | −1.6% |
| Profit before tax | 425.99 | 677.60 | −37.1% | 335.49 | +27% |
| Profit after tax | 308.57 | 509.95 | −39.5% | 249.71 | +23.6% |
| Total comprehensive income | 308.94 | 506.83 | −39% | 250.19 | +23.5% |
| Basic EPS | 3.38 | 5.50 | −38.5% | 2.72 | +24.3% |
- Profit After Tax YoY Change
- −39.5%
- Period
- Quarter ended 30.09.2026 (Unaudited)
Notes to the results
- Exceptional items for quarter ended 30 September 2025 include ₹61.54 million GST refund on classification of flavoured milk and ₹32.02 million reversal of previously accrued interest liability.
- Exceptional item for quarter and year ended 31 March 2026 includes provision of ₹5.37 million for impairment of investment in Heritage Novandie Foods Limited (standalone note).
What the board approved
- The unaudited standalone and consolidated financial results for the quarter and six months ended 30 September 2026, as reviewed and recommended by the Audit Committee and approved by the Board on 15 October 2026.
- The Limited Review Report of the statutory auditors on those results was taken on record. The meeting commenced at 11:30 am and concluded at 2:50 pm (IST).
The auditor's review conclusion
Based on their review, the statutory auditors state that nothing has come to their attention that causes them to believe that the accompanying Statement has not disclosed the information required to be disclosed in accordance with the prescribed disclosure requirements, or that it contains any material misstatement. A review is substantially less in scope than an audit.
Standalone results (amounts as printed, in millions of ₹)
- Revenue from operations: 12,733.76 for the quarter ended 30.09.2026, 25,651.30 for the six months, and 44,150.65 for the year ended 31.03.2026.
- Total income: 12,767.90 (quarter), 25,748.32 (six months).
- Profit before tax: 414.53 (quarter), 743.00 (six months).
- Profit for the period: 305.15 (quarter), 552.86 (six months), 1,397.01 for the year ended 31.03.2026.
- Earnings per share, basic and diluted (in absolute ₹): 3.29 (quarter), 5.96 (six months).
Consolidated results (amounts as printed, in millions of ₹)
- Revenue from operations: 13,195.80 (quarter), 26,576.74 (six months).
- Total income: 13,229.46 (quarter), 26,674.48 (six months).
- Profit before tax: 425.99 (quarter), 761.46 (six months).
- Profit for the period: 308.57 (quarter), 558.26 (six months).
- Earnings per share (in absolute ₹): 3.38 (quarter), 6.10 (six months).
Year-on-year comparison, as printed in the same tables
- Standalone revenue from operations was 10,904.14 in the quarter ended 30.09.2025 and 22,093.54 in the six months ended 30.09.2025; profit for the period was 484.04 and 861.62 respectively.
- Consolidated revenue from operations was 11,125.17 in the quarter ended 30.09.2025 and 22,492.72 in the six months; profit for the period was 509.95 and 915.41 respectively.
Segments
The company reports Dairy and Renewable energy as its standalone segments; on a consolidated basis a Feed segment is also reported. For the quarter ended 30.09.2026, standalone segment revenue was 12,731.23 from Dairy and 39.67 from Renewable energy; consolidated segment revenue was 12,887.74 from Dairy, 39.67 from Renewable energy and 852.50 from Feed.
Balance sheet and cash flow (standalone)
- Total equity: 10,959.74 as at 30 September 2026 against 10,638.02 as at 31 March 2026.
- Non-current borrowings 2,736.79; current borrowings 680.16.
- Net cash generated from operating activities: 1,877.51 for the six months ended 30 September 2026.
Items flagged in the notes
- Exceptional items for the year ended 31 March 2026 include ₹69.33 million (including ₹61.54 million for the quarter and six months ended 30 September 2025) received towards refund of differential GST liability deposited under protest on the classification of flavoured milk, following a favourable order, and ₹32.02 million reversed from previously accrued liability towards potential interest obligations associated with the matter during the quarter ended 30 September 2025.
- The exceptional item for the quarter and year ended 31 March 2026 includes a provision of ₹5.37 million on account of impairment loss provided on investment made in Heritage Novandie Foods Limited.
How to read this
This is a board meeting outcome carrying the company's quarterly and half-yearly numbers along with the auditors' limited review conclusion. The usual points a reader can check in the update are revenue, the movement in profit for the period, the segment mix and the borrowing levels, each compared with the figures printed for the earlier periods.
Also from Heritage Foods
Heritage Foods Ltd press release
23 Oct 2026
Board approves scheme to merge wholly-owned subsidiary Heritage Novandie Foods into the company
23 Oct 2026
Heritage Foods files transcript of Q2 & H1 FY27 earnings conference call held October 16, 2026
19 Oct 2026
More numbers
- Standalone Revenue from operations, quarter ended 30.09.202612,733.76
- Standalone Profit for the period, quarter ended 30.09.2026305.15
- Standalone Basic and Diluted EPS, quarter ended 30.09.20263.29
- Standalone Revenue from operations, six months ended 30.09.202625,651.30
- Standalone Profit for the period, six months ended 30.09.2026552.86
- Exceptional item - GST liability refund received (year ended 31.03.2026)₹69.33 million
- Total income, latest quarter13,229.46 (₹ in millions)
- Total income, year-ago quarter11,176.83 (₹ in millions)
- Total income, previous quarter13,445.03 (₹ in millions)
- Total comprehensive income, latest quarter308.94 (₹ in millions)
- Total comprehensive income, year-ago quarter506.83 (₹ in millions)
- Total comprehensive income, previous quarter250.19 (₹ in millions)
- Profit after tax, latest quarter308.57 (₹ in millions)
- Profit after tax, year-ago quarter509.95 (₹ in millions)
- Profit after tax, previous quarter249.71 (₹ in millions)
- Revenue from operations, latest quarter13,195.80 (₹ in millions)
- Revenue from operations, year-ago quarter11,125.17 (₹ in millions)
- Revenue from operations, previous quarter13,380.94 (₹ in millions)
- Profit before tax, latest quarter425.99 (₹ in millions)
- Profit before tax, year-ago quarter677.60 (₹ in millions)
- Profit before tax, previous quarter335.49 (₹ in millions)
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