Heritage Foods Ltd
Heritage Foods Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Milk supply typically improves in Q3 with a seasonal price reduction, aiding better margins assuming stable market prices. H2 expected to see better milk supply and lower raw milk prices, but profitability will be influenced by product mix changes, including higher festive fat sales which are less profitable than value-added products.
From Heritage Foods Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Milk supply typically improves in Q3 with a seasonal price reduction, aiding better margins assuming stable market prices.
- Value-added product sales expected to grow around 20% in Q3, higher than Q2, though reduced overall profitability due to a higher proportion of less profitable fats in the mix during festive seasons.
- Medium to long-term focus on increasing value-added product contribution to drive sustained growth.
- Liquid milk sales targeted to rise from 5-6% growth to 8-9% via brand building, new product variants (e.g., Sampurna cow milk), and retail distribution expansion by adding 10,000 new outlets in Q3.
- Ice cream volumes grew 16.5% in Q2, contributing to 20% revenue growth.
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Profitability & Margins
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Capital Expenditure Plans
- Heritage Foods is investing in expanding manufacturing capacities, especially for value-added products.
- Ice cream facility: A new large, fully automated ice cream processing plant with a capacity of 25,000 liters per day is being commissioned by the end of the financial year, timed for the next summer season. This expansion aims both to support existing SKUs and introduce new products.
- The company is investing around INR 150 crores annually on average over the last several years in capex focused on value-added products capacity.
- Investments also include automation initiatives in new processing facilities and renovations aimed at improving margins and operational efficiency.
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Fundraising & Capital Structure
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Order Book & Pipeline
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Heritage Foods Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹1.2K Cr, net profit ₹24 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Heritage Foods's management said in earlier quarters
- Q2 FY27 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
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Frequently Asked Questions
What were Heritage Foods Ltd Q2 FY26 results?
Milk supply typically improves in Q3 with a seasonal price reduction, aiding better margins assuming stable market prices. H2 expected to see better milk supply and lower raw milk prices, but profitability will be influenced by product mix changes, including higher festive fat sales which are less profitable than value-added products.
What is Heritage Foods Ltd share price analysis?
Heritage Foods Ltd currently shows a neutral. The stock trades at a P/E of 29.6 with a market cap of ₹3,762 Cr. Investors should review the full earnings analysis for detailed insights.
Is Heritage Foods Ltd planning capital expenditure?
Heritage Foods is investing in expanding manufacturing capacities, especially for value-added products. - Ice cream facility: A new large, fully automated ice cream processing plant with a capacity of 25,000 liters per day is being commissioned by the end of the financial year, timed for the next summer season.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.