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.
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.