Heritage Foods Limited has announced the appointment of Mr. Rahul Pandey as Vice President and Head of Sales and Senior Management Personnel of the Company, effective May 18, 2026. The disclosure was made in compliance with Regulation 30 read with Schedule III, Part A, Para A(7) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

The key details of Mr. Rahul Pandey's appointment, as disclosed under Regulation 30(6) of the SEBI Listing Regulations, are summarised below:

Professional Profile

Mr. Rahul Pandey brings over 24 years of extensive experience in sales leadership across the Foods, Beverages, and Home Care sectors. Over the course of his career, he has held key leadership positions with reputed organisations including Mondelez India Foods Pvt. Ltd., Hindustan Coca-Cola Beverages Pvt. Ltd., and ITC Ltd. Prior to joining Heritage Foods Limited, he served as Head – Sales & Distribution at Dabur India Limited for its Foods Division.

His areas of expertise include:

• Sales strategy and large-scale sales execution
• Route-to-market (RTM) transformation
• Distributor network expansion
• Category management and S&OP
• Customer engagement
• Technology-enabled sales systems and channel excellence
• People leadership and business growth capabilities

Educational Qualifications

Mr. Pandey holds strong academic credentials that complement his professional experience:

Regulatory Compliance

The appointment has been disclosed to BSE Limited and the National Stock Exchange of India Limited in accordance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The filing was signed by Umakanta Barik, Company Secretary & Compliance Officer (M. No: FCS-6317), on behalf of Heritage Foods Limited.

Heritage Foods Limited held a conference call with investors and analysts on May 12, 2026, to discuss the audited financial results for the quarter and year ended March 31, 2026. The call was hosted by Go India Advisors and Chorus Call, with key management members including Mrs. Brahmani Nara – Executive Director, Dr. M. Sambasiva Rao – Whole Time Director, and Mr. Srideep Kesavan – Chief Executive Officer in attendance. The company confirmed that no Unpublished Price Sensitive Information was disclosed during the proceedings.

Operational Performance Review

Management addressed the challenging operating environment characterized by tight milk supply and elevated procurement inflation. Consolidated revenue for Q4 FY26 grew 10% year-on-year to INR 11,576 million, while full-year revenue reached INR 45,260 million. Despite these pressures, EBITDA for the quarter stood at INR 522 million with a margin of 4.5%, and Profit After Tax was INR 230 million. Milk procurement volumes declined 7% year-on-year to 16.38 lakh liters per day, with average procurement prices increasing 8% year-on-year to INR 46.67 per liter in Q4. However, milk sales volumes grew 1% year-on-year to 11.73 lakh liters per day, supported by calibrated pricing actions that saw average selling prices improve 4% year-on-year to INR 57.80 per liter.

Strategic Growth and Outlook

Value-added products (VAP) remained a key growth driver, with revenues growing 18% year-on-year during Q4. The contribution of VAP to overall revenues increased to 35.5% in Q4 FY26 from 32.5% in the corresponding period last year. Management noted that the Hyderabad ice-cream facility has moved into the production phase, and a flavoured milk plant in Tirupati is nearing full operationalisation. Regarding future expansion, the CEO indicated that the company aims to increase VAP contribution by 2%-2.5% year-on-year, targeting a 50% revenue share in approximately four years. The median EBITDA margin is expected to trend towards high single digits (around 9%) as the mix improves and operating leverage is realized.

Q&A Session Highlights

During the Q&A session, management provided insights into market conditions and capital allocation. The CEO confirmed that the cow milk flush has started, improving supply, though prices have yet to soften significantly. On capital expenditure, the company spent approximately INR 300 crores on plant production capacity expansion, primarily on the Greenfield ice cream facility and flavoured milk line. Future CAPEX is expected to be around INR 200 crores, focusing on paneer and ghee capacity expansion. Management also addressed receivables, which peaked in March due to modern trade salience but have since normalized, and reiterated the strategy to deepen presence in core regions rather than spreading thin geographically.