Don’t Trade in the Dark—Get Your Pre-Market Report Every Day.Join Now
Search stocks
Heritage Foods Ltd

| Statement of Audited Standalone Financial Results for the Quarter and Year Ended 31 March 2026

Report Source

⬤11th May 26

Summary : Heritage Foods reported strong FY26 financial performance, recommended a dividend, and completed a strategic acquisition.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Standalone Total expenses FY26: 42,625.60 million (FY25: 38,509.29 million).
  2. Consolidated Total expenses FY26: 43,579.26 million (FY25: 38,886.14 million).
  3. Employee benefit expenses (standalone) FY26: 3,151.15 million (FY25: 3,019.09 million).
  4. Cost of materials consumed (standalone) FY26: 32,023.28 million (FY25: 29,981.81 million).
  5. Standalone Revenue from operations FY26: 44,150.65 million (FY25: 40,804.81 million).
  6. Consolidated Revenue from operations FY26: 45,259.91 million (FY25: 41,345.95 million).
  7. Standalone Dairy segment revenue FY26: 44,143.19 million.
  8. Consolidated Dairy segment revenue FY26: 44,308.75 million.
  9. Standalone Net cash generated from operating activities FY26: 2,001.91 million (FY25: 2,253.84 million).
  10. Consolidated Net cash generated from operating activities FY26: 2,139.27 million (FY25: 2,805.92 million).
  11. Standalone Net cash used in investing activities FY26: (3,726.22) million (FY25: (2,178.78) million).
  12. Consolidated Net cash used in investing activities FY26: (3,747.30) million (FY25: (2,289.57) million).
  13. Standalone Total assets FY26: 18,685.54 million (FY25: 15,180.10 million).
  14. Consolidated Total assets FY26: 19,498.06 million (FY25: 15,583.40 million).
  15. Standalone Equity share capital FY26: 463.98 million (FY25: 463.98 million).
  16. Consolidated Other equity FY26: 10,569.23 million (FY25: 9,255.62 million).
  17. Both standalone and consolidated financial results are provided.
  18. Consolidated results include subsidiaries and an associate.

Corporate Overview

  1. Impact of new Labour Codes on employee benefits.
  2. Dairy products and renewable energy generation.
  3. Involved in food processing and distribution.
  4. The board approved financial results and dividend.
  5. Dairy
  6. Renewable energy
  7. Feed (consolidated only)
  8. Acquired controlling interest in Heritage Novandie Foods Limited (HNFL).

Risk Factors

  1. New Labour Codes impact employee benefits.
  2. Reliance on other auditors for subsidiaries.
  3. Unaudited associate financial information used.

Key Drivers

  1. Strong revenue growth year-on-year.
  2. Recommended final dividend for shareholders.
  3. Strategic acquisition of HNFL completed.
  4. Received significant GST refund.

Auditor’s Report

  1. Unmodified opinion for standalone financial results.
  2. Unmodified opinion for consolidated financial results.
  3. Reliance on other auditors for subsidiary financial information.
  4. Reliance on management for unaudited associate financial information.

Board Commentary

  1. Re-appointment of Mr. M P Vijay Kumar as Non-Executive Independent Director for five years.
  2. Recommended final dividend of Rs. 2.50 (50%) per equity share for FY 2025-26.
  3. Dividend subject to shareholder approval at 34th AGM.
  4. Received refund of differential GST liability under protest.
  5. New Labour Codes effective, impacting employee benefits.
  6. Acquired controlling interest in Heritage Novandie Foods Limited (HNFL) for 85.00 million.

Corporate Governance

  1. Re-appointment of Non-Executive Independent Director approved.
  2. Audit Committee reviewed financial results.
  3. Nomination and Remuneration Committee recommended re-appointment.

Management Discussion & Analysis

Future Strategy

  1. Strategic acquisition of HNFL for business expansion.

Operational Focus Areas

  1. Monitoring impact of new Labour Codes on liabilities.

Performance Drivers

  1. Increased revenue from operations year-on-year.
  2. Refund of differential GST liability contributed to exceptional items.

Risk Control Measures

  1. Company is monitoring developments regarding Labour Codes.

Critical Risks

  1. Potential impact of new Labour Codes on employee benefits.