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Heritage Foods Opens 24 Mn Litre Ice Cream Plant; Targets 5x Segment Revenue Growth
Heritage Foods has inaugurated a new greenfield ice cream manufacturing facility in Shamirpet, Telangana, with an annual capacity of 24 million litres. The plant is designed to support the company's strategy of growing its high-margin value-added dairy portfolio. Management expects this facility to help scale ice cream revenues from the current ₹100 crore to five times that amount over the next 7-8 years. The automated facility will strengthen the company's distribution reach across South and Western India.
Key Highlights
New facility at Shamirpet has an installed production capacity of 24 million litres per annum
Targets scaling the ice cream business from ₹100 crore to approximately ₹500 crore in 7-8 years
Strategic focus on high-margin value-added dairy products to drive overall corporate profitability
Plant features advanced automated production lines and quality control to support regional expansion
💼 Action for Investors
This expansion signals a strong commitment to high-margin segments; investors should monitor the utilization rates and the resulting impact on EBITDA margins in upcoming quarters.
CRISIL Upgrades Heritage Foods Long-Term Rating to AA-/Stable; Bank Facilities at Rs 653.5 Cr
Heritage Foods has received a credit rating upgrade from CRISIL Ratings, with its long-term rating moving from CRISIL A+/Positive to CRISIL AA-/Stable. The total bank loan facilities rated have been increased to Rs 653.5 Crores, up from the previous Rs 503.5 Crores. Additionally, the company's short-term rating has been reaffirmed at CRISIL A1+. This upgrade reflects an improved financial profile and stronger creditworthiness for the dairy major.
Key Highlights
Long-term credit rating upgraded to CRISIL AA-/Stable from CRISIL A+/Positive
Short-term credit rating reaffirmed at CRISIL A1+
Total bank loan facilities rated enhanced to Rs 653.5 Crores from Rs 503.5 Crores
Upgrade indicates improved operational stability and financial health of the company
💼 Action for Investors
Investors should view this upgrade positively as it likely leads to lower borrowing costs and reflects management's efficient capital handling. Monitor if this translates into improved net profit margins in upcoming quarters.
Heritage Foods Files ₹100 Cr Defamation Suit; Delhi HC Orders Content Takedown
Heritage Foods has initiated a ₹100 crore civil defamation suit against Sakshi Media House and associated parties for publishing allegedly false and malicious content. The Delhi High Court, in an order dated February 19, 2026, granted an interim injunction requiring the removal of the defamatory material within 24 hours. The court has also restrained the defendants from further publishing misleading content that could tarnish the company's reputation. This legal action is intended to protect the company's goodwill and stakeholder interests.
Key Highlights
Claimed ₹100 crores in damages for reputational harm caused by defamatory media reports
Delhi High Court ordered Sakshi Media to take down impugned articles and reports within 24 hours
Interim injunction restrains defendants from publishing any further misleading content on any platform
The company has already paid court fees amounting to ₹97,65,000 for the litigation
Defendants include Jagati Publications, Sakshi TV, and major social media platforms like Meta, X, and Google
💼 Action for Investors
Investors should view this as a proactive management step to safeguard brand equity and reputation. Monitor the legal proceedings for any potential impact on the company's public perception or operational focus.
Heritage Foods Q3 FY26 Revenue Hits INR 11,192 Mn; Margins Squeezed by 9% Rise in Milk Costs
Heritage Foods reported a resilient 8% YoY revenue growth to INR 11,192 million in Q3 FY26, despite a challenging procurement environment. EBITDA margins faced pressure as milk procurement costs rose 9% YoY, while procurement volumes declined 9% due to unusual weather patterns and industry-wide butter shortages. A significant positive was the growth in Value-Added Products (VAP), which now contribute 38% to total revenue. The company is nearing the commissioning of new ice cream and flavored milk plants in Q4 FY26 to drive future growth.
Key Highlights
Consolidated revenue grew 8% YoY to INR 11,192 million, crossing the INR 11,000 million mark for the third straight quarter.
Milk procurement volumes fell 9% YoY to 16.73 lakh liters per day due to excessive rainfall and supply constraints.
Value-added product (VAP) revenue grew 22.6% YoY, increasing its revenue share to 38% from 33.8% last year.
EBITDA stood at INR 629 million, impacted by a 9% surge in procurement costs and a one-time labor code provision of INR 27.78 million.
Hyderabad ice cream plant and flavored milk plant are scheduled for commercial commissioning in Q4 FY26.
💼 Action for Investors
Investors should monitor the stabilization of milk procurement prices and the successful ramp-up of the new ice cream plant in Q4. While short-term margins are under pressure, the increasing share of high-margin value-added products remains a positive long-term structural driver.
Heritage Foods Q3 Revenue Up 8% to ₹1,119 Cr; PAT Declines 20% Amid High Procurement Costs
Heritage Foods reported a resilient revenue growth of 8% YoY to ₹11,192 million for Q3 FY26, supported by a 13.8% increase in Value-Added Products (VAP). However, profitability faced headwinds as EBITDA fell 15% YoY to ₹629 million and PAT dropped 20% to ₹346 million due to an 8.7% rise in milk procurement prices. The company continues to shift its mix toward high-margin segments, with VAP now contributing 30% of total revenue. Strategic moves include the 51% acquisition of 'Get-A-Way' ice creams and a new plant commissioning in March 2026 to drive future growth.
Key Highlights
Q3 FY26 Revenue grew 8% YoY to ₹11,192 million, while 9M FY26 Revenue reached ₹33,684 million.
Value-Added Products (VAP) revenue rose 13.8% YoY to ₹3,271 million, increasing its revenue share to 30%.
EBITDA margins contracted to 5.6% from 7.2% YoY, primarily due to procurement prices rising to ₹45.55/L.
Milk sales volume increased 2.1% YoY to 1.2 MLPD with an improved average selling price of ₹57.31/L.
Acquired 51% stake in 'Get-A-Way' ice cream brand and targeting March 2026 for new ice cream plant production.
💼 Action for Investors
Investors should watch for margin recovery as the company scales its high-margin VAP segment and integrates the 'Get-A-Way' acquisition. While short-term profitability is pressured by procurement costs, the focus on premiumization and capacity expansion remains a positive long-term catalyst.
Heritage Foods Q3 Revenue Up 8% to ₹11,192 Mn; PAT Declines 20% on High Input Costs
Heritage Foods reported a resilient 8% YoY revenue growth in Q3 FY26, crossing the ₹11,000 million mark for the third consecutive quarter. However, profitability was significantly impacted by a 9% YoY rise in raw milk procurement costs and a 9% decline in procurement volumes due to supply shortages. Despite these headwinds, the Value-Added Products (VAP) segment showed strong momentum, with consumer VAP revenue growing 22.6% YoY to contribute 38.4% of total sales. The company is expanding its capacity with new ice cream and flavoured milk plants expected to be commissioned in Q4 FY26.
Key Highlights
Revenue grew 8% YoY to ₹11,192 Mn, while PAT fell 20% YoY to ₹346 Mn due to elevated input costs.
Consumer Value-Added Products (VAP) revenue surged 22.6% YoY, now contributing 38.4% to total revenue.
Average raw milk procurement cost rose 9% YoY to ₹45.55/Lt, leading to a 154 bps contraction in EBITDA margins to 5.6%.
Milk procurement volumes declined 9% YoY to 16.73 LLPD, though they showed a 4% sequential stabilization from Q2.
New ice cream and flavoured milk plants are on track for commissioning in Q4 FY26 to capture upcoming summer demand.
💼 Action for Investors
Investors should monitor the company's ability to pass on rising procurement costs through pricing and the successful ramp-up of new VAP capacities in Q4. While margin compression is a short-term concern, the increasing share of high-margin value-added products remains a positive long-term structural driver.
Heritage Foods Q3 Net Profit Drops 26% YoY to ₹304.9 Million; Revenue Up 7%
Heritage Foods reported a 7% YoY growth in standalone revenue to ₹10,914 million for the quarter ended December 31, 2025. However, net profit declined significantly by 26% YoY to ₹304.9 million, primarily due to rising raw material costs and a one-time regulatory expense. Profitability was further impacted by a ₹27.42 million provision for employee benefits following the notification of new Labour Codes. Sequentially, profits fell sharply as the previous quarter (Q2) was aided by an exceptional GST refund of ₹93.56 million.
Key Highlights
Standalone Revenue from operations grew 7% YoY to ₹10,914.08 million.
Net Profit for the quarter fell to ₹304.91 million compared to ₹412.92 million in the same period last year.
Cost of materials consumed rose to ₹7,961.67 million, up from ₹7,202.02 million in the previous quarter.
Recognized a one-time employee benefit expense of ₹27.42 million due to New Labour Code compliance.
Earnings Per Share (EPS) decreased to ₹3.29 from ₹4.45 in the year-ago quarter.
💼 Action for Investors
Investors should be cautious as rising input costs are significantly compressing margins despite steady revenue growth. Monitor the company's ability to implement price hikes in the dairy segment to offset these cost pressures in future quarters.
Heritage Foods Completes Acquisition of 51% Stake in Peanutbutter and Jelly Pvt Ltd
Heritage Foods Limited has successfully completed the acquisition of a 51% controlling interest in Peanutbutter and Jelly Private Limited (PBJ). The shares were acquired from Sky Gate Hospitality Private Limited and were credited to the company's demat account on January 08, 2026. Following this, a formal Shareholders' Agreement was executed on January 09, 2026, finalizing the transaction. This strategic move allows Heritage Foods to diversify its product portfolio into the health-focused spreads and snacks segment.
Key Highlights
Acquisition of 51% equity share capital of Peanutbutter and Jelly Private Limited completed.
Shares were purchased from Sky Gate Hospitality Private Limited and credited on January 08, 2026.
Execution of the Shareholders' Agreement with PBJ and its founders took place on January 09, 2026.
The move marks a significant step in Heritage Foods' diversification strategy beyond traditional dairy products.
💼 Action for Investors
Investors should view this as a positive diversification move into high-growth food categories; monitor the integration and its impact on consolidated margins in upcoming quarters.
Heritage Foods Completes 51% Stake Acquisition in Peanutbutter and Jelly Pvt Ltd for ₹9 Crores
Heritage Foods Limited has officially completed the acquisition of a 51% majority stake in Peanutbutter and Jelly Private Limited. The company discharged the total purchase consideration of ₹9 Crores to Sky Gate Hospitality Private Limited on January 05, 2026. Following this transaction, Peanutbutter and Jelly Private Limited has become a subsidiary of Heritage Foods. This strategic move marks the company's expansion into complementary food categories beyond its core dairy business.
Key Highlights
Acquired 51% equity share capital of Peanutbutter and Jelly Private Limited
Total cash consideration for the acquisition stands at ₹9 Crores
Peanutbutter and Jelly Private Limited has officially become a subsidiary of the company
Acquisition completed on January 05, 2026, following the Share Purchase Agreement terms
💼 Action for Investors
Investors should view this as a positive step toward product diversification, though the small deal size means immediate impact on the bottom line will be limited. Monitor the integration of the new subsidiary and its contribution to the company's value-added product segment in upcoming quarterly results.
Heritage Foods Executes SPA to Acquire 51% Stake in Peanutbutter and Jelly Pvt Ltd
Heritage Foods Limited has officially executed a Share Purchase Agreement (SPA) on December 30, 2025, to acquire a 51% majority equity stake in Peanutbutter and Jelly Private Limited. The stake is being acquired from Sky Gate Hospitality Private Limited, following initial proposals announced in October 2025. The share transfer process is currently in progress, and the company will notify exchanges upon final completion. This acquisition represents a strategic expansion into complementary food segments beyond its core dairy business.
Key Highlights
Execution of Share Purchase Agreement (SPA) for 51% equity stake on December 30, 2025
Acquisition of majority control from Sky Gate Hospitality Private Limited
Follows previous board approvals and communications dated October 27 and December 10, 2025
Share transfer process is currently underway to formalize the ownership change
💼 Action for Investors
Investors should view this as a positive step toward product diversification and monitor the impact of this acquisition on the company's consolidated margins in future earnings reports.
Heritage Foods to Complete 51% Stake Acquisition in Peanutbutter and Jelly Pvt Ltd Within 30 Days
Heritage Foods Limited has provided a progress update on its acquisition of a 51% controlling stake in Peanutbutter and Jelly Private Limited. The transaction, which was first announced on October 27, 2025, is currently in the share transfer and agreement finalization stage. The company expects the entire process to be completed within 30 days from December 10, 2025. This acquisition is part of Heritage Foods' broader strategy to diversify its product portfolio into the value-added food segment.
Key Highlights
Acquisition of a 51% majority equity stake in Peanutbutter and Jelly Private Limited.
The transaction is expected to be completed by early January 2026, within a 30-day window.
The update follows the initial acquisition announcement made on October 27, 2025.
Share transfer and legal agreements are currently under process as per SEBI regulations.
💼 Action for Investors
Investors should view this as a positive step toward product diversification; monitor the final completion announcement and subsequent integration into Heritage's distribution network.