Heritage Foods Limited — Investor Meet, 21-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Heritage Foods reported FY25 revenue of INR4,134.6 Cr, up 9% YoY, with Q4 revenue growing 10% to INR1,048.5 Cr. EBITDA jumped 58% YoY to INR331 Cr, boosting margins by 248 bps to 8%. PAT increased 77% to INR183.3 Cr. Value-added products now form 32% of revenue, aiding margin gains through premiumization and efficiencies. Milk procurement averaged 1.72 million liters/day, reaching 180,000 outlets. Focus remains on nutrition-led growth across curd, paneer, flavored milk (Livo), ice cream, and ghee, with Novandie driving expansion in Western India. Management aims for INR6,000 Cr revenue by FY27, cautious on milk price volatility but confident in margin improvement, with no plans outside core dairy yet.