Heritage foods Limited has received a significant credit rating upgrade from CRISIL Ratings Limited, with the long-term rating improved to CRISIL AA-/Stable from A+/Positive. The rating action was communicated through a certificate dated March 6, 2026, marking a positive development in the company's creditworthiness assessment.

Rating Enhancement Details

The credit rating upgrade encompasses enhanced banking facilities with increased financial capacity. CRISIL has also reaffirmed the company's short-term rating while expanding the scope of rated facilities.

Banking Facility Distribution

The rated facilities are distributed across multiple leading banks, demonstrating the company's diversified banking relationships. The facilities include various types of credit arrangements to support operational and growth requirements.

Major Banking Partners and Facilities

HDFC Bank Limited:

• Cash Credit: Rs 35 crores (CRISIL AA-/Stable)
• Long Term Loans: Rs 134 crores (CRISIL AA-/Stable)
• Letter of Credit & Bank Guarantee: Rs 3.9 crores (CRISIL A1+)

ICICI Bank Limited:

• Cash Credit: Rs 50 crores (CRISIL AA-/Stable)
• Long Term Loans: Rs 162 crores (CRISIL AA-/Stable)

Kotak Mahindra Bank Limited:

• Cash Credit: Rs 10 crores (CRISIL AA-/Stable)
• Long Term Loans: Rs 131 crores (CRISIL AA-/Stable)
• Bank Guarantee: Rs 3.6 crores (CRISIL A1+)

Bank of Baroda:

• Cash Credit: Rs 50 crores (CRISIL AA-/Stable)
• Long Term Loan: Rs 69 crores (CRISIL AA-/Stable)
• Letter of Credit & Bank Guarantee: Rs 5 crores (CRISIL A1+)

Regulatory Compliance and Disclosure

The company has fulfilled its regulatory obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, by informing both BSE Limited and National Stock Exchange of India Limited about the rating upgrade. The information has been made available on the company's website at www.heritagefoods.in in compliance with disclosure requirements.

The rating certificate remains valid until March 31, 2026, and CRISIL Ratings will continue surveillance of the assigned ratings. The rating upgrade reflects CRISIL's assessment of the company's improved creditworthiness and financial stability, providing enhanced access to banking facilities for operational and strategic requirements.

Heritage foods has secured a major legal victory in its defamation battle against Sakshi Media House, with the Delhi High Court issuing a comprehensive restraining order on February 19, 2026. The court's decision marks a significant development in the dairy company's efforts to protect its reputation against what it termed "false, baseless, malicious, and defamatory publications."

Court Grants Comprehensive Relief

The Hon'ble High Court of Delhi, presided over by Justice Mini Pushkarna, granted substantial interim relief to Heritage Foods in case CS(OS) 162/2026. The court's order addresses multiple aspects of the defamation case, providing immediate protection for the company's interests.

Defamation Case Background

Heritage Foods filed the civil defamation suit seeking Rs.100 crores in damages against multiple defendants, including Jagati Publications Limited (Sakshi Telugu News Daily), Indira Television Limited (Sakshi TV), and several individual defendants. The case stems from publications dated February 14, 2026, which allegedly contained false allegations linking the company to the TTD scam.

The company argued that the defendants maliciously published content suggesting Heritage Foods had business ties with Bhole Baba Oroganic Dairy Milk Private Limited, the primary accused in the Tirumala Tirupati Devasthanam scam involving adulterated ghee supply. Heritage Foods clarified that it has business dealings with an entirely different entity - Bhole Baba Milk Food Industries (Dholpur) Private Limited - and has never had any connection with the accused company.

Legal Proceedings and Claims

The defamation suit encompasses comprehensive legal remedies sought by Heritage Foods against the alleged false publications.

The company sought permanent and mandatory injunctions restraining defendants from publishing defamatory content, directing removal of existing false content across all platforms, and claiming substantial damages for reputational harm. The legal action also named major technology platforms including Meta Platforms Inc., X Corp., and Google LLC as defendants.

Court's Detailed Directions

The Delhi High Court issued specific directions addressing various aspects of the defamatory content and its removal. The court found that a prima facie case had been made out by Heritage Foods and that irreparable harm would be caused if interim relief was not granted.

Key directions include restraining defendants from publishing further defamatory content on any platform, directing immediate takedown of the impugned article dated February 14, 2026, from www.sakshi.com , and ordering removal of defamatory reports from Sakshi TV across various online platforms. The court also directed platform operators to remove content within 24 hours if primary defendants fail to comply.

Company's Position and Compliance

Heritage Foods emphasized its commitment to protecting its reputation and ensuring accurate information dissemination. The company noted that while Sakshi Newspaper published a clarification on page 3 following a legal notice, this was insufficient to repair the damage caused by the front-page defamatory article.

The case represents Heritage Foods' broader effort to safeguard its interests and protect stakeholders from the impact of false allegations. The company maintains that the publications were wholly unfounded and made with apparent intent to tarnish its reputation, goodwill, and credibility in the dairy industry.