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Heritage Foods Limited Independent Directors Review Business Performance and Governance in March 17, 2026 Meeting

Heritage Foods Limited conducted its Independent Directors Meeting on March 17, 2026, focusing on comprehensive business and governance reviews. The independent directors examined key business developments, operational performance, and strategic initiatives while discussing governance matters and regulatory compliance. The meeting provided a platform for valuable strategic guidance on company affairs, with formal communication made to stock exchanges as per regulatory requirements.

17Mar 26

Heritage Foods Limited Appoints 14 Internal Auditors for Financial Year 2026-27

Heritage Foods Limited's Board of Directors approved the appointment of 14 chartered accountant firms as internal auditors for financial year 2026-27 during a meeting held on March 17, 2026. The appointments, effective from April 01, 2026, were made based on Audit Committee recommendations and cover operations across multiple locations including Hyderabad, Bengaluru, Chennai, Mumbai, and New Delhi. The firms bring diverse expertise ranging from statutory audits to tax consultancy, with some having over 90 years of experience in professional services.

13Mar 26

Heritage Foods Inaugurates New Ice Cream Manufacturing Facility in Telangana

Heritage Foods Limited has inaugurated a new greenfield ice cream manufacturing facility in Shamirpet, near Hyderabad, featuring modern automated production systems and 24 million litres annual capacity. With current ice cream revenues of ₹100 crore annually, the facility enables scaling operations up to five times current levels over the next seven to eight years, strengthening the company's value-added dairy portfolio.

06Mar 26

Heritage Foods Limited Receives Credit Rating Upgrade to CRISIL AA-/Stable

Heritage Foods Limited received a significant credit rating upgrade from CRISIL Ratings Limited on March 6, 2026, with long-term rating improved to AA-/Stable from A+/Positive. The total bank loan facilities rated were enhanced to Rs 653.5 crores from Rs 503.5 crores, while the short-term rating of A1+ was reaffirmed. The facilities are distributed across major banks including HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and Bank of Baroda, covering various credit arrangements.

20Feb 26

Heritage Foods Secures Court Victory Against Sakshi Media in Rs.100 Crore Defamation Case

Heritage Foods Limited won a significant legal victory against Sakshi Media House, with Delhi High Court issuing a restraining order on February 19, 2026, in a Rs.100 crore defamation case. The court directed immediate removal of false content linking the dairy company to the TTD scam and restrained defendants from publishing further defamatory material across all platforms.

15Feb 26

Heritage Foods Limited Announces Resignation of VP & Head National Sales Makarand Shastri

Heritage Foods Limited has announced the resignation of Mr. Makarand Shastri, Vice President & Head National Sales, effective February 14, 2026. The senior management personnel will be relieved on or before March 31, 2026, as he pursues career growth opportunities. The company has ensured regulatory compliance by notifying stock exchanges and will manage a smooth transition of responsibilities.

06Feb 26

Kohinoor Foods Ltd Board Meeting Scheduled for February 13, 2026 to Consider Q3FY26 Financial Results and CFO Appointment

Kohinoor Foods Ltd has announced a board meeting for February 13, 2026, to review unaudited financial results for the quarter ended December 31, 2025, and consider the appointment of a Chief Financial Officer. The meeting will be held at the company's registered office in Faridabad, Haryana, in compliance with SEBI LODR Regulation 29.

06Feb 26

Heritage Foods VP Marketing Puneet Kusumbia Submits Resignation Due to Personal Reasons

Heritage Foods Limited announced the resignation of Mr. Puneet Kusumbia, Vice President (Marketing) and Senior Management Personnel, effective on or before May 5, 2026. The resignation was submitted on February 5, 2026, due to personal reasons after a 3-year tenure with the company. The company informed BSE and NSE in compliance with SEBI Listing Regulations, with the formal communication signed by Company Secretary Umakanta Barik.

31Jan 26

Heritage Foods Q3FY26 Results: Net Profit Declines 26% Despite Revenue Growth

Heritage Foods announced Q3FY26 results showing mixed performance with revenue growth of 7% to ₹10,914.08 million but net profit declining 26.2% to ₹304.91 million. During the earnings conference call, management highlighted significant challenges including 9% decline in milk procurement volumes and elevated input costs. The company faced industry-wide supply constraints and butter shortages, leading to margin compression despite strong value-added product performance and strategic capacity expansion initiatives.

21Jan 26

Heritage Foods Limited Receives ₹77.95 Lakh GST Refund Order from Chennai Tax Authorities

Heritage Foods Limited received a ₹77.95 lakh GST refund order from Chennai tax authorities on January 20, 2026, relating to flavoured milk classification disputes from July 2017 to October 2021. The refund includes ₹38.80 lakhs each in CGST and SGST, plus ₹0.35 lakhs in IGST, following favorable appellate orders and the company's refund application filed in November 2025. No penalties or compliance issues were identified in the resolution.

12Jan 26

Heritage Foods Limited Receives FSSAI Notice for Product Quality Issue, Faces ₹1.00 Lakh Penalty

Heritage Foods Limited received an FSSAI notice on January 12, 2026, regarding sub-standard milk fat content in its Heritage Total Curd product sample. The company faces a ₹1.00 lakh compounding fee from the Adjudicating Officer in Jhajjar, Haryana, for violation under the Food Safety and Standards Act, 2006. Heritage Foods has committed to paying the penalty within the stipulated time and confirmed that this incident will have no material impact on its financials, operations, or other business activities.

10Jan 26

Heritage Foods MD Receives Outstanding Dairy Professional Award 2025

Heritage Foods Limited announced that Mrs. N. Bhuvaneswari, Vice Chairperson & Managing Director, received the Outstanding Dairy Professional Award 2025 (Andhra Pradesh) at the Indian Dairy Association – Southern Dairy & Food Conclave 2026 in Kozhikode, Kerala. The award recognizes her outstanding leadership and significant contribution to the dairy sector, with CEO Mr. Srideep Kesavan accepting the honour on her behalf.

09Jan 26

Heritage Foods Limited Completes Acquisition of 51% Stake in Peanutbutter and Jelly Private Limited

Heritage Foods Limited has completed its acquisition of 51% equity stake in Peanutbutter and Jelly Private Limited from Sky Gate Hospitality Private Limited. The equity shares were transferred to Heritage Foods' demat account on January 08, 2026, followed by execution of the Shareholders Agreement on January 09, 2026. The company has maintained regulatory compliance throughout the process with multiple notifications to BSE and NSE since October 2025.

30Dec 25

Devyani International's Subsidiary to Sell 51% Stake in PB&J to Heritage Foods

Devyani International announced that its subsidiary Sky Gate Hospitality Private Ltd has signed an agreement to sell its entire 51% equity stake in Peanutbutter and Jelly Private Ltd to Heritage Foods Ltd for ₹9 crore. The transaction, executed on December 30, is expected to be completed by January 31, 2026, after which PB&J will cease to be a step-down subsidiary of Devyani International.

30Dec 25

Heritage Foods Executes Share Purchase Agreement for 51% Stake Acquisition

Heritage Foods Limited has successfully executed the Share Purchase Agreement for acquiring a 51% controlling stake in Peanutbutter and Jelly Private Limited on December 30, 2025. The transaction, involving Sky Gate Hospitality Private Limited as the seller, represents Heritage Foods' strategic expansion into the processed food segment beyond its core dairy operations.

15Dec 25

Heritage Foods Executive Director Mrs. Nara Brahmani Honored at Business Today Awards 2025

Heritage Foods Limited announced that Mrs. Nara Brahmani, Executive Director, won at the Business Today Most Powerful Women in Business Awards 2025 held on December 12, 2025, in Mumbai. The awards celebrate exceptional women leaders in business and society, with this year's theme being 'Profit is Power.' The recognition highlights Mrs. Brahmani's visionary leadership and dedication to social causes.

06Nov 25

Heritage Foods Clinches Golden Peacock Award for Corporate Governance Excellence

Heritage Foods Limited received the Golden Peacock Award for Excellence in Corporate Governance at the IOD Annual London Global Convention. The company's Vice-Chairperson & Managing Director, Smt. Bhuvaneswari Nara, was awarded the IOD Distinguished Fellowship. The awards were presented on November 4 in London, recognizing the company's commitment to corporate governance and sustainability practices. Heritage Foods was represented at the event by Smt. Bhuvaneswari Nara and Sri. Umakanta Barik, the Company Secretary & Compliance Officer. The company has informed stock exchanges of these achievements in compliance with SEBI regulations.

31Oct 25

Heritage Foods Clarifies Board Approval Status for Peanut Butter and Jelly Acquisition

Heritage Foods Limited (HFL) has issued a clarification regarding its recent announcement about acquiring a majority stake in Peanut Butter and Jelly Private Limited. The company clarified that its board has approved a proposal to acquire a 51% shareholding, subject to the closing of the share purchase agreement and necessary approvals. This corrects the earlier statement which suggested the acquisition had already occurred. HFL also announced its participation in upcoming investor conferences in Mumbai.

30Oct 25

DSP Small Cap Fund Boosts Stake in Heritage Foods to 5.24% via Rights Issue

DSP Small Cap Fund has increased its stake in Heritage Foods Limited through a rights issue, acquiring 25,68,989 shares on February 27, 2023. This acquisition brings the fund's total shareholding to 48,61,036 shares, representing 5.24% of Heritage Foods' paid-up capital. The rights issue doubled Heritage Foods' total equity shares from 4,63,98,000 to 9,27,96,000. DSP Trustee Private Limited acts as the trustee for DSP Mutual Fund schemes and DSP Alternative Investment Fund, while DSP Investment Manager Private Limited serves as the investment manager.

22Oct 25

Heritage Foods Reports 9% Revenue Growth Amid Challenging Q2 FY26

Heritage Foods Limited achieved a 9% year-on-year revenue growth to INR 11,125.00 crore in Q2 FY26, marking its second consecutive quarter above INR 11,000.00 crore. Value-added products drove growth, expanding 18% to INR 4,132.00 crore. EBITDA margin declined 122 bps due to increased milk procurement costs, while PAT grew 5%. The company's subsidiary, Heritage Nutrivet, saw a 34% revenue increase. Heritage Foods is focusing on expanding its value-added product portfolio, distribution network, and implementing cost management strategies to drive future growth.

15Oct 25

Heritage Foods Delivers Resilient Q2 Performance Amid Challenges

Heritage Foods Limited posted a 9% year-on-year increase in consolidated revenue, reaching ₹11,125.00 million for Q2. Value-added products (VAP) revenue grew 14.8% to ₹3,417.00 million, contributing 31.4% to total revenue. EBITDA stood at ₹772.00 million with a 6.9% margin, while Profit After Tax increased by 5% to ₹510.00 million. The company faced challenges such as high milk procurement costs and extended monsoons but maintained profitability through operational agility and a diversified portfolio.

15Oct 25

Heritage Foods Reports Mixed Q2 Results: Higher Profit Despite EBITDA Decline

Heritage Foods Limited announced Q2 financial results with a 4.29% increase in consolidated net profit to ₹511.00 million. However, EBITDA declined by 7.33% to ₹771.00 million, with EBITDA margin compressing to 6.94% from 8.16% year-over-year. The company maintained profitability despite operational challenges, primarily operating in the dairy segment with smaller presence in renewable energy and feed segments.

01Oct 25

Heritage Foods Appoints Amit Vijay Shetty as Chief Human Resources Officer

Heritage Foods Limited has appointed Mr. Amit Vijay Shetty as its new Chief Human Resources Officer (CHRO), effective October 1, 2025. Mr. Shetty brings over 16 years of HR experience across multiple sectors. He holds a Masters in Management Studies and a Bachelor of Engineering from Mumbai University. His responsibilities will include strategic talent management, leadership development, and enhancing organizational culture. Mr. Shetty's appointment aims to strengthen Heritage Foods' HR function and align it with the company's business objectives.

26Sept 25

Heritage Foods Clinches Golden Peacock Award for Corporate Governance Excellence

Heritage Foods Limited has been awarded the Golden Peacock Award for Excellence in Corporate Governance by the Institute of Directors (IOD). The award will be presented at a ceremony in London on November 4, as part of IOD India's Annual London Global Convention. The company views this recognition as a testament to its commitment to transparency, accountability, and ethical practices. Additionally, Heritage Foods has announced the closure of its trading window for designated persons from October 1 until 48 hours after the declaration of Q2 financial results, in compliance with SEBI regulations.

18Sept 25

Heritage Foods Slashes Dairy Product Prices Following GST Rationalization

Heritage Foods, a leading Indian dairy company, has announced significant price reductions across its product portfolio, effective September 22, 2025. The price cuts, ranging from ₹3 per litre for UHT milk to ₹50 per kg for butter and cheese, are a result of the Government of India's recent GST rationalization. The company aims to make its high-quality dairy products more accessible, particularly in Tier 2 and Tier 3 cities. This move is expected to stimulate demand during the festive season and reinforce Heritage Foods' market leadership. The price reductions do not apply to fresh milk, which was already GST-exempt.

21Jul 25

Heritage Foods Reports Record Q1 Revenue of ₹1,137 Crores Despite Weather Challenges; Supreme Court Dismisses GST Department's SLP

Heritage Foods achieved its highest ever quarterly revenue of ₹1,137.00 crores in Q1, marking the third consecutive quarter of double-digit growth. The company reported EBITDA of ₹73.90 crores and PAT of ₹40.50 crores. Milk procurement increased by 10% year-on-year, while value-added products contributed over 40% to total revenue. The company faced temporary impacts from erratic weather but saw recovery in June. Heritage Foods increased its stake in Heritage Novandie Foods to 94.40% and launched a new sub-brand, Heritage Livo. The Supreme Court dismissed the GST Department's SLP, confirming 5% GST on Flavoured Milk and entitling Heritage Foods to a refund of ₹4.53 crores.

17Jul 25

Heritage Foods Ltd: Q1 Profit Drops 31% YoY, Margin Contracts

Heritage Foods Limited announced Q1 financial results with a 10.1% increase in consolidated revenue to ₹1,136.70 crore. However, net profit declined 30.7% to ₹40.50 crore, and EBITDA fell 21.2% to ₹73.80 crore. EBITDA margin compressed to 6.5% from 9.0% year-over-year. The stock price dropped 3.17% on NSE following the announcement.

16May 25

Heritage Foods Reports Strong Q4 Performance with EBITDA Growth and Declares Dividend

Heritage Foods, a leading Indian dairy company, announced robust Q4 results with revenue growing 10.5% YoY to ₹10,500 million. EBITDA increased 13.8% to ₹799 million, with margin expanding to 7.62%. Despite a slight YoY dip, consolidated net profit showed sequential improvement. The company declared a dividend of ₹2.5 per share.