Q1 2026 Heritage Foods Ltd Earnings Call Transcript
Key Points
- Heritage Foods Ltd (BOM:519552) achieved its highest ever quarterly revenue of INR11,368 million, marking the third consecutive quarter of double-digit revenue growth.
- Revenues from value-added products, including ghee and butter consumer packs, grew by 7.4% year-on-year, contributing over 40% to the top line.
- Milk procurement increased by 10% year-on-year to 17.8 lakh liters per day, supported by quality-linked sourcing from over 300,000 farmers.
- Heritage Nutrivet Limited, the animal nutrition subsidiary, saw revenue growth of 26% year-on-year, with profit before tax surging by 130% year-on-year.
- The company was recognized among India's best workplaces in FMCG 2025 by the Great Place to Work Institute, reflecting its inclusive culture and high-trust workplace environment.
- Year-on-year margins were softer due to seasonality, input cost inflation, and a temporary product mix shift.
- Early rains temporarily impacted demand for value-added products such as curd, buttermilk, flavored milk, and ice cream.
- The company faced weather-related challenges, including an erratic monsoon and an unseasonably cool summer, affecting sales.
- Milk procurement prices increased by 4.74% year-on-year, which was higher than expected and not fully passed on to consumers.
- The company reported a loss of INR1.31 crores from Heritage Novandie Foods Private Limited in Q1, reflecting operational challenges.
Ladies and gentlemen, good day, and welcome to Heritage Foods Q1 FY '26 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Ms. Garima Singla. Thank you, and over to you, Ms.Singla.
Thank you. Good morning, everyone. I am Garima Singla, and it's my pleasure to welcome you on behalf of Heritage Foods Limited. Thank you for joining us today for Quarter 1 financial year '26 Earnings Call. This call is being hosted by Go India Advisors. Please note that today's discussion may include certain forward-looking statements.
Therefore, they must be viewed in conjunction with the risks that the company faces. Today on the call, we are joined by Mrs. Nara Brahmani, Executive Director; Dr. Sambasiva Rao, Whole-Time Director; Mr. Srideep Kesavan, CEO; Mr. A. Prabhakara Naidu, CFO; Mr. J. Samba Murthy, COO; Mr. Upendra Pandey, CEO, Heritage Nutrivet; and Mr. Umakanta Barik, CS and Compliance Officer.
I now invite Dr. Rao
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