Heritage Foods Limited — Investor Meet, 22-10-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Heritage Foods reported Q2 FY26 consolidated revenue of INR 1,112.5 Cr (up 9% YoY), driven by Value-Added Products (VAP) at INR 413.2 Cr (up 18% YoY). PAT increased 5% to INR 51.0 Cr. EBITDA margin was 6.9%, impacted by higher milk procurement costs but showed sequential improvement. Management noted Q2 as challenging due to adverse weather and lean milk season, which constrained VAP growth to 15% against a 20%+ target. They expect margin normalization in H2 as milk costs ease and VAP gains traction through expanded distribution and new product launches like Sampurna milk. The new ice cream plant is on track for year-end commissioning. Management maintains a confident outlook, focusing on long-term value creation and operational efficiency.