Heritage Foods Q2 FY27 Consolidated Revenue Up 19% YoY to INR 13,196 Mn
RESULTS
▼ Concern Flagged
MEDIUM RISK
📅 Filed on BSE: 15 Oct 2026, 03:28 PM IST · BSE ID: 1d299133-85bb-4263-bc45-d96015d2cb0a
View Original BSE Filing (PDF)
💡
In Simple Terms
Heritage Foods increased its quarterly sales by 19% to INR 13,196 Mn, driven by value-added products, despite higher milk costs.
🤖 AI Summary
- Heritage Foods' Q2 FY27 consolidated revenue increased 19% YoY to INR 13,196 Mn.
- Consolidated EBITDA for Q2 FY27 was INR 740 Mn, with EBITDA Margin at 5.6%, up 98 bps QoQ.
- PAT for Q2 FY27 stood at INR 309 Mn, reflecting a 39% YoY decline, but up 24% QoQ.
- Value-Added Products (VAP) revenue (excluding Ghee/Butter) grew 32% YoY to INR 4,510 Mn in Q2 FY27.
- Milk procurement volumes grew 7% YoY in Q2 FY27 despite an 11% YoY rise in procurement prices to INR 47.73/L.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Q2 FY27 Consolidated Revenue
INR 13,196 Mn
+19%
Q2 FY27 Consolidated Gross Margins
21.8%
(271) bps
Q2 FY27 Consolidated EBITDA
INR 740 Mn
(4) %
Q2 FY27 Consolidated PAT
INR 309 Mn
(39) %
H1 FY27 Consolidated Revenue
INR 26,577 Mn
18 %
H1 FY27 Consolidated PAT
INR 558Mn
(39) %
Q2 FY27 VAP Revenue (excluding Ghee/Butter)
INR 4,510 million
32%
🏢 How This Affects the Company
The company's strong revenue growth, especially in Value-Added Products (VAP), strengthens its market position and product portfolio diversification.
Gross margins decreased 271 bps YoY to 21.8% in Q2 FY27, while PAT declined 39% YoY to INR 309 Mn, influenced by elevated milk procurement costs. EBITDA margin improved 98 bps QoQ to 5.6%.
Heritage Foods reinforced its milk procurement network, achieving 7% YoY volume growth in Q2 FY27 despite monsoon-related supply constraints and rising feed costs. Daily curd sales surpassed 500 tons per day.
Persistent milk inflation, with procurement prices rising 11% YoY in Q2 FY27, introduces ongoing cost pressure, which impacts profitability.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders based on this financial results filing.
👤
Who Is Affected
All shareholders are affected as the company's Q2 FY27 financial performance shows robust revenue growth but a decline in net profit compared to the prior year.
🔍
Management Signal
Management intends to strengthen the procurement ecosystem, expand VAP capacity, and accelerate innovation to drive sustainable margin improvement despite persistent cost pressures.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q3 FY27 results — monitor gross margin trends and impact of milk procurement costs.
Review VAP contribution — check continued growth and profitability contribution in next results.
Earnings conference call on October 16, 2026 — for further details and management outlook.
MEDIUM RISK
Significant YoY decline in PAT and gross margins due to persistent milk cost inflation poses a financial risk.
💡 Investor Takeaway
Heritage Foods reported Q2 FY27 consolidated revenue up 19% YoY to INR 13,196 Mn. However, PAT decreased 39% YoY to INR 309 Mn, reflecting a 271 bps YoY fall in gross margins, despite VAP revenue growing 32% YoY to INR 4,510 Mn.
⚖️ Strengths & Concerns
✅ Positives
- Consolidated revenue grew 19% YoY to INR 13,196 Mn in Q2 FY27, demonstrating robust sales performance across the portfolio.
- Value-Added Products (VAP) revenue (excluding Ghee/Butter) increased 32% YoY to INR 4,510 Mn in Q2 FY27, expanding its contribution to 35.4%.
⚠️ Concerns
- PAT declined 39% YoY to INR 309 Mn in Q2 FY27, primarily due to a 271 bps YoY decrease in Gross Margins to 21.8%.
- Average landed milk procurement prices increased 11% YoY to INR 47.73/L in Q2 FY27, reflecting sustained inflationary pressures.
📅 Company Track Record
Heritage Foods' Q2 FY27 consolidated net profit fell 36.96% to INR 305.15 million, a similar trend to Q1 FY27 where consolidated PAT was down 38% to ₹250 Mn. Despite this, consolidated revenue in Q1 FY27 was up 18% to ₹13,381 Mn, indicating consistent revenue growth alongside profit pressure.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What was Heritage Foods' consolidated revenue for Q2 FY27?
Heritage Foods reported a consolidated revenue of INR 13,196 Mn for Q2 FY27, marking a 19% increase compared to the prior year.
How did Heritage Foods' net profit (PAT) perform in Q2 FY27?
The consolidated Net Profit (PAT) for Heritage Foods in Q2 FY27 was INR 309 Mn, which is a decrease of 39% YoY but an increase of 24% QoQ.
What was the growth in Value-Added Products (VAP) revenue for Heritage Foods in Q2 FY27?
Heritage Foods' Value-Added Products (VAP) revenue (excluding Ghee/Butter) grew 32% YoY to INR 4,510 million in Q2 FY27, with its contribution reaching 35.4%.
How did milk procurement costs change for Heritage Foods in Q2 FY27?
Average landed milk procurement prices for Heritage Foods rose 11% YoY to INR 47.73/L in Q2 FY27, reflecting persistent milk inflation.
Questions based on this BSE filing only. For information purposes.