Heritage Foods Q2 FY27: revenue up 19% to Rs 13,196 Mn as VAP climbs 32%, PAT falls 39% on higher milk costs
Q2 FY27 revenue up 19% to Rs 13,196 Mn; EBITDA down 4% to Rs 740 Mn (5.6% margin); PAT down 39% to Rs 309 Mn.
By ScoutQuest · · 1 min read
- Q2 FY27 Revenue
- up 19% to Rs 13,196 Mn
- Q2 FY27 EBITDA
- down 4% to Rs 740 Mn (5.6% margin)
- Q2 FY27 PAT
- down 39% to Rs 309 Mn
- Period
- Q2 & H1 FY27
- Positioning
- Heritage Foods describes itself as an integrated dairy company with a strong consumer franchise, shifting its mix toward value-added products that now form 35.4% of revenue.
📉 Q2 FY27 revenue from operations rose 19% to Rs 13,196 Mn, but EBITDA fell 4% to Rs 740 Mn with margin at 5.6% versus 6.9%, and PAT fell 39% to Rs 309 Mn. H1 FY27 revenue was Rs 26,577 Mn (up 18%) with PAT of Rs 558 Mn versus Rs 915 Mn. Depreciation and finance costs rose sharply.
📈 Procurement prices rose 11% YoY to Rs 47.73/L while average milk selling price rose 6% to ₹60.34/L, squeezing margins. VAP revenue grew 32% to Rs 4,510 million, lifting its share of revenue to 35.4% from 31.3%; including ghee and butter consumer packs it reached Rs 5,408 million, 42.5% of revenue.
🏭 The chairperson states the focus is on strengthening procurement, expanding VAP capacity and innovating in premium and nutrition-led categories, and says the company is confident of sustainable margin improvement through premiumisation, cost control and operating leverage, while acknowledging near-term cost pressures persist.
🏭 The balance sheet shows FY26 total assets of 19,498 (INR Mn), up from 15,583, with long-term borrowings rising to 2,543 and short-term borrowings to 1,072, reflecting capacity investment; FY26 PAT was 1,501 versus 1,883 in FY25.
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
- Revenue from operations, Q2 FY2713,196 (INR Mn)
- EBITDA, Q2 FY27740 (INR Mn)
- EBITDA margin, Q2 FY275.6%
- Profit after tax, Q2 FY27309 (INR Mn)
- Revenue from operations, H1 FY2726,577 (INR Mn)
- Profit after tax, H1 FY27558 (INR Mn)
- VAP revenue, Q2 FY27Rs. 4,510 million
- VAP share of revenue, Q2 FY2735.4%
- Milk procurement price, Q2 FY27Rs 47.73/L
- Operating income, FY2645,260 (INR Mn)
- Profit after tax, FY261,501 (INR Mn)
- Total assets, FY2619,498 (INR Mn)
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