Revenue rose 10.4% year-on-year to ₹1,157.56 crore versus ₹1,048.47 crore. EBITDA fell 34.6% to ₹52.23 crore from ₹79.88 crore in the year-ago period, impacted by higher milk inflation and input costs. EBITDA margin contracted to 4.5% from 7.6% a year earlier.
The company reported that it crossed the ₹4,526 crore annual revenue milestone in FY26, despite severe milk supply-side constraints and elevated input costs.
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It said procurement volumes were impacted by industry-wide milk shortages, with Q4FY26 procurement at 16.38 LLPD, down 7% year-on-year. Average landed milk cost rose 8% to ₹46.7 per litre in Q4FY26 amid tight supply conditions and inflationary pressures.
Milk sales volumes increased 1% year-on-year to 11.73 LLPD in Q4FY26 and 2% in FY26, while average selling prices rose 4% to ₹57.80 per litre in Q4FY26 and ₹57.13 per litre in FY26, supported by calibrated pricing actions.
Value-added products remained a key driver, with VAP revenue rising 18% year-on-year to ₹396 crore in Q4FY26 and 13% to ₹1,468 crore in FY26. VAP contribution improved to 35.5% in Q4FY26 from 32.5% a year earlier, and to 35.3% in FY26 from 32.0%.
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Category-wise, paneer volumes grew 32% year-on-year in Q4FY26, curd rose 11%, and ice cream increased 26%, reflecting strong demand and product mix improvement. Growth was supported by new product launches, including Livo Yogurts, Sampurna A2 Curd, Nourish+ High Protein Paneer, and Alpenvie Ice Cream range.
Heritage Nutrivet Ltd posted a 33% year-on-year rise in revenue to ₹246 crore in FY26, while profit before tax stood at ₹20.6 crore. E-commerce and quick commerce revenue grew 56% year-on-year, while fresh distribution and emerging channels increased 49%, supporting broader channel expansion.
The board has recommended a final dividend of ₹2.50 per equity share (50%) of face value ₹5 for FY26, subject to shareholder approval at the 34th Annual General Meeting. If approved, the dividend will be paid on July 30, 2026.
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Brahmani Nara, Executive Director, said, “FY26 witnessed one of the toughest operating environments for the dairy industry in recent years, marked by severe milk shortages, elevated procurement inflation and weak flush season.
Despite these challenges, Heritage Foods delivered resilient revenue growth of 9% YoY to ₹45,260 million, with quarterly revenues consistently sustaining above the ₹11,000 million mark, reflecting the strength of our consumer patronage and execution capabilities.”
Shares of Heritage Foods Ltd ended at ₹379.70, up by ₹17.20, or 4.74%, on the BSE.
