Heritage Foods Limited — Quarter and year ended 31 March 2026
Optional commentary: Standalone audited financial results and related standalone disclosures.
| Sl. No | Particulars | Quarter ended 31.03.2026 (Ref Note 7) | 31.12.2025 (Unaudited) | 31.03.2025 (Ref Note 7) | Year ended 31.03.2026 (Audited) | 31.03.2025 (Audited) |
|---|---|---|---|---|---|---|
| 1 | Revenue | |||||
| a. Revenue from operations | 11,143.04 | 10,914.08 | 10,347.62 | 44,150.65 | 40,804.81 | |
| b. Other income | 56.89 | 75.91 | 58.85 | 236.90 | 272.84 | |
| Total income | 11,199.93 | 10,989.99 | 10,406.47 | 44,387.55 | 41,077.65 | |
| 2 | Expenses | |||||
| a. Cost of materials consumed | 9,033.02 | 7,961.67 | 8,375.00 | 32,023.28 | 29,981.81 | |
| b. Purchases of stock-in-trade | 454.04 | 501.37 | 419.03 | 1,822.55 | 1,554.96 | |
| c. Changes in inventories of finished goods, semi finished goods, stock-in-trade and work-in-progress | (761.00) | 35.27 | (977.67) | 329.79 | (589.62) | |
| d. Employee benefit expenses | 763.20 | 733.80 | 773.24 | 3,151.15 | 3,019.09 | |
| e. Finance costs | 52.48 | 36.06 | 41.03 | 165.89 | 150.23 | |
| f. Depreciation and amortization expense | 200.18 | 194.56 | 172.03 | 764.93 | 671.57 | |
| g. Impairment losses | 4.93 | 1.19 | 6.74 | 6.12 | 6.74 | |
| h. Other expenses | 1,151.78 | 1,114.84 | 1,010.35 | 4,361.89 | 3,714.51 | |
| Total expenses | 10,899.63 | 10,578.76 | 9,819.75 | 42,625.60 | 38,509.29 | |
| 3 | Profit before exceptional items and tax | 300.30 | 411.23 | 586.72 | 1,761.95 | 2,568.36 |
| Exceptional items (refer note 4) | 2.42 | (234.85) | 95.98 | (234.85) | ||
| 5 | Profit before tax | 302.72 | 411.23 | 351.87 | 1,857.93 | 2,333.51 |
| 6 | Tax expense | |||||
| a. Current tax expense | 6.97 | 103.10 | 142.90 | 372.17 | 625.11 | |
| b. Deferred tax expense | 65.31 | 3.22 | 3.87 | 88.75 | 27.58 | |
| 7 | Profit for the period/year | 230.44 | 304.91 | 205.10 | 1,397.01 | 1,680.82 |
| 8 | Other comprehensive income (OCI) | |||||
| (a) Items that will not be reclassified to profit or loss | ||||||
| (i) Re-measurement loss on defined benefit plan, net of tax | 6.88 | 1.16 | (4.61) | 1.76 | (12.54) | |
| (ii) Net loss / (gain) on fair value through OCI equity securities | (0.08) | 0.07 | (0.02) | 0.04 | (0.07) | |
| (b) Items that will be reclassified to profit or loss | ||||||
| 9 | Total comprehensive income for the period/year | 237.24 | 306.14 | 200.47 | 1,398.81 | 1,668.21 |
| 10 | Paid up Equity Share Capital (face value of ₹5 each) | 463.98 | 463.98 | 463.98 | 463.98 | 463.98 |
| 11 | Other equity | 10,174.04 | 9,007.22 | |||
| 12 | Earnings per equity share (“EPES”) | |||||
| Basic and Diluted EPES (in absolute ₹ terms) | 2.48 | 3.29 | 2.21 | 15.05 | 18.11 |
| St. No | Particulars | Quarter ended 31.03.2026 (Ref Note 7) | 31.12.2025 (Unaudited) | 31.03.2025 (Ref Note 7) | 31.03.2026 (Audited) | 31.03.2025 (Audited) |
|---|---|---|---|---|---|---|
| 1 | Segment revenue | |||||
| a. Dairy | 11,140.95 | 10,912.84 | 10,345.46 | 44,143.19 | 40,798.66 | |
| b. Renewable energy | 21.04 | 17.11 | 18.84 | 99.64 | 87.70 | |
| Total | 11,161.99 | 10,929.95 | 10,364.30 | 44,242.83 | 40,886.36 | |
| Less: Inter segment revenue | 18.95 | 15.87 | 16.68 | 92.18 | 81.55 | |
| 11,143.04 | 10,914.08 | 10,347.62 | 44,150.65 | 40,804.81 | ||
| 2 | Segment results | |||||
| Profit before finance costs, tax and other un-allocable items | ||||||
| a. Dairy | 322.18 | 396.14 | 600.36 | 1,862.91 | 2,551.54 | |
| b. Renewable energy | 4.36 | 18.75 | 1.15 | 49.33 | 24.03 | |
| Total | 326.54 | 414.89 | 601.51 | 1,912.24 | 2,575.57 | |
| Less: i. Finance costs | (52.48) | (36.06) | (41.03) | (165.90) | (150.23) | |
| ii. Other un-allocable expenses | (8.60) | (8.59) | (241.59) | (34.36) | (261.84) | |
| Add: i. Interest income | 2.97 | 1.38 | 0.37 | 9.21 | 4.79 | |
| ii. Other un-allocable income | 34.29 | 39.61 | 32.61 | 136.74 | 165.22 | |
| Profit before tax | 302.72 | 411.23 | 351.87 | 1,857.93 | 2,333.51 | |
| 3 | Segment assets | |||||
| a. Dairy | 14,790.98 | 12,646.11 | 11,408.35 | 14,790.98 | 11,408.35 | |
| b. Renewable energy | 660.69 | 590.08 | 594.37 | 660.69 | 594.37 | |
| c. Unallocated | 3,233.87 | 3,891.17 | 3,177.38 | 3,233.87 | 3,177.38 | |
| Total | 18,685.54 | 17,127.36 | 15,180.10 | 18,685.54 | 15,180.10 | |
| 4 | Segment liabilities | |||||
| a. Dairy | 7,564.21 | 6,340.35 | 5,341.76 | 7,564.21 | 5,341.76 | |
| b. Renewable energy | 129.01 | 56.48 | 102.20 | 129.01 | 102.20 | |
| c. Unallocated | 354.30 | 329.78 | 264.94 | 354.30 | 264.94 | |
| Total | 8,047.52 | 6,726.61 | 5,708.90 | 8,047.52 | 5,708.90 |
| Particulars | 31 March 2026 (Audited) | 31 March 2025 (Audited) |
|---|---|---|
| ASSETS | ||
| Non-current assets | ||
| (a) Property, plant and equipment | 10,408.73 | 6,670.11 |
| (b) Right of use assets | 317.92 | 328.76 |
| (c) Capital work-in-progress | 466.13 | 679.56 |
| (d) Investment property | 39.88 | 40.96 |
| (e) Other intangible assets | 12.84 | 20.67 |
| (f) Intangible assets under development | 34.77 | – |
| (g) Financial assets | ||
| (i) Investment in subsidiary, joint venture and associate | 660.94 | 422.75 |
| (ii) Loans | 52.69 | – |
| (iii) Other investments | 3.17 | 3.13 |
| (iv) Other financial assets | 186.85 | 154.24 |
| (h) Other non-current assets | 220.08 | 319.98 |
| Total non-current assets | 12,404.00 | 8,640.16 |
| Current assets | ||
| (a) Inventories | 3,007.42 | 3,421.02 |
| (b) Financial assets | ||
| (i) Investments | 1,577.77 | 1,706.56 |
| (ii) Trade receivables | 648.11 | 375.19 |
| (iii) Cash and cash equivalents | 578.26 | 632.79 |
| (iv) Bank balances other than (iii) above | 44.35 | 51.91 |
| (v) Loans | 14.65 | – |
| (vi) Other financial assets | 130.38 | 131.96 |
| (c) Current tax assets (net) | 57.54 | 43.05 |
| (d) Other current assets | 223.06 | 177.46 |
| Total current assets | 6,281.54 | 6,539.94 |
| Total assets | 18,685.54 | 15,180.10 |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| (a) Equity share capital | 463.98 | 463.98 |
| (b) Other equity | 10,174.04 | 9,007.22 |
| Total equity | 10,638.02 | 9,471.20 |
| LIABILITIES | ||
| Non-current liabilities | ||
| (a) Financial liabilities | ||
| (i) Borrowings | 2,230.33 | 1,089.18 |
| (ii) Lease liabilities | 295.56 | 336.45 |
| (iii) Other financial liabilities | 0.27 | 1.97 |
| (b) Government grant | 76.73 | 66.07 |
| (c) Provisions | 326.45 | 275.64 |
| (d) Deferred tax liabilities (net) | 354.30 | 264.94 |
| (e) Other non-current liabilities | 109.60 | – |
| Total non-current liabilities | 3,393.24 | 2,034.25 |
| Current liabilities | ||
| (a) Financial liabilities | ||
| (i) Borrowings | 1,011.01 | 252.76 |
| (ii) Lease liabilities | 58.84 | 29.34 |
| (iii) Trade payables | ||
| – total outstanding dues of micro and small enterprises | 153.32 | 98.51 |
| – total outstanding dues of creditors other than micro and small enterprises | 1,653.51 | 1,558.39 |
| (iv) Other financial liabilities | 1,478.04 | 1,350.92 |
| (b) Other current liabilities | 192.87 | 247.63 |
| (c) Government grant | 7.82 | 6.74 |
| (d) Provisions | 98.87 | 130.36 |
| Total current liabilities | 4,654.28 | 3,674.65 |
| Total equity and liabilities | 18,685.54 | 15,180.10 |
| Particulars | 31 March 2026 (Audited) | 31 March 2025 (Audited) |
|---|---|---|
| Cash flow from operating activities | ||
| Profit before tax | 1,857.93 | 2,333.51 |
| Adjustments: | ||
| Depreciation and amortization expense | 764.13 | 671.57 |
| Impairment losses on assets | 6.12 | 6.74 |
| Impairment losses on investments | 5.37 | 234.85 |
| Provision for doubtful advances | – | 0.15 |
| Provision for doubtful debts and bad debts written off | 6.38 | 6.37 |
| Advances written off | 2.66 | 1.55 |
| Profit on sale of Property, plant and equipment (“PPE”) | (15.60) | (32.95) |
| Gain on investments | (129.06) | (163.01) |
| Provisions no longer required/credit balances written back | (9.72) | (20.62) |
| Interest income | (9.21) | (4.79) |
| Interest expenses | 156.45 | 144.67 |
| Guarantee income | (2.16) | (2.20) |
| Property, plant and equipment written off | 17.06 | 7.96 |
| Amortisation of government grants | (25.49) | (6.73) |
| Lease rental income | (21.23) | (20.10) |
| Dividend income on long term investments | (0.12) | (0.01) |
| Operating profit before working capital changes | 2,604.41 | 3,156.96 |
| Movements in working capital: | ||
| Changes in inventories | 413.60 | (238.89) |
| Changes in trade receivables | (279.30) | 194.74 |
| Changes in loans | – | 0.24 |
| Changes in other assets | (47.69) | (71.89) |
| Changes in other financial assets | (30.87) | (50.57) |
| Changes in trade payables | 149.93 | 276.42 |
| Changes in provisions | 21.67 | 62.40 |
| Changes in other financial liabilities | (136.49) | 270.91 |
| Changes in other liabilities | (51.76) | 5.64 |
| Cash generated from operating activities | 2,640.50 | 2,623.82 |
| Income tax paid, net | (386.66) | (621.91) |
| Net cash generated from operating activities (A) | 2,253.84 | 2,001.91 |
| Cash flow from investing activities | ||
| Purchase of PPE and other intangible assets, including CWIP | (3,840.22) | (1,712.53) |
| Proceeds |