| Management target | Revenue 17.0% Long-term |
|---|
| Revenue growth | 18% YoY growth in Q1 FY27. |
|---|---|
| Margins | EBITDA margin at 4.6%; VAP margins (8.06%) significantly outperform milk (3.03%). |
| Demand visibility | Resilient demand for value-added products despite inflationary pressures. |
| Management confidence | High regarding VAP growth and long-term premiumization strategy. |
Growth
Consolidated revenue rose 18% YoY to INR 13,381 million. VAP revenue grew 40% YoY, now contributing 44% of total sales.
Outlook
Targeting 50% VAP revenue contribution by FY30. Planned FY27 capex of INR 250 crores for paneer and ghee projects.
Risks
Elevated milk procurement prices (up 7% YoY) and increased packing material costs due to global conflicts are compressing gross margins.
Last quarter's promises, checked
Delivered
- VAP contribution expansion 2-2.5% YoY → delivered 11.5% YoY (= BEAT)
- Revenue growth momentum → delivered 18% YoY growth (= BEAT)
- Ice cream facility ramp-up (35-40% utilization) → delivered 65% segment growth (= BEAT)
Partly delivered
- FY27 Capex ~INR 200cr → delivered INR 250cr plan (= PARTIAL)
Missed
- Maintain median EBITDA of 7% → delivered 4.6% (= MISS)
Earnings Call Transcript filed with BSE, NSE: HERITGFOOD. Summary written with AI assistance from the document.
Heritage Foods Ltd: key numbers
- Share price
- ₹400.65
- Market cap
- ₹3,718 Cr
- Revenue (annual)
- ₹4,526 Cr
- Net profit (annual)
- ₹150.1 Cr
- P/E (TTM)
- 27.6×Sector 42.5×
- Promoter holding
- 41.30%+0.00% QoQ
- FII holding
- 1.98%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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Heritage Foods Earnings Call: Key Takeaways
Heritage Foods reported Q1 FY27 revenue of ₹13,381 million, up 18% YoY, driven by a record 44% contribution from Value-Added Products (VAP) despite elevated milk procurement costs impacting margins.
- Call
- Guides 372% growth