1. India Stocks

  2. •

    Consumer Defensive

  3. •

    Packaged Foods
Heritage Foods Limited

Heritage Foods Limited

HERITGFOOD.BO
Heritage Foods LimitedIN flagBombay Stock Exchange
334.55
INR
+7.70
- -
31.14BMarket Cap
Heritage Foods Limited
HERITGFOOD.BO
(Bombay Stock Exchange)

Recent

price

334.55

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
-0.01
153.22
351.86
188.21
226.56
260.19
202.91
259.37
274.15
297.74
270.25
292.76
353.48
408.62
445.31
487.43
456.64
Revenue per Share
0.12
1.03
10.97
4.95
3.1
6.06
30.07
6.86
8.9
-17.52
16.39
10.55
6.33
11.48
20.29
16.18
18.36
Basic EPS, GAAP
2.32
3.43
14.63
1.15
0.05
6.18
2.37
-2.51
2.29
0.51
8.89
11.09
-15.7
28.3
4.04
-15.65
- -
Free Cash Flow per Basic Share
- -
0.17
0.58
0.45
0.9
0.93
0.92
1.22
1.22
1.22
1.27
3.8
1.27
2.5
2.5
2.5
- -
Dividend per Share
1.27
1.27
8.23
8.33
9.42
14.34
42.4
47.96
55.46
36.62
51.51
58.25
65.73
73.77
91.42
105.58
- -
Book Value per Share
9.14
9.96
30.3
19.18
20.82
27.74
65.68
84.13
87.81
49.62
64.47
71.31
78.77
86.72
104.48
116.58
- -
Tangible Book Value per Share
91
91
46
91
91
91
91
91
91
91
91
91
92
93
93
93
93
Basic Weighted Avg Shares
-1
13,934
16,018
17,220
20,730
23,806
18,565
23,731
25,084
27,242
24,727
26,786
32,391
37,918
41,323
45,231
42,387
Sales/Revenue/Turnover
134,258.06
2.24
5.06
4.2
2.52
4.44
4.64
4.14
5.98
3.07
9.26
5.41
2.7
4.04
6.47
4.26
5.66
Operating Margin (%)
199
212
220
250
340
345
250
378
447
501
462
522
561
608
696
810
716
Depreciation Expense
11
93
499
453
284
554
2,751
628
814
-1,603
1,499
966
580
1,065
1,883
1,501
1,704
Net Income, GAAP
67.02
31.25
21.51
25.98
27.82
35.53
10.02
30.2
35.04
- -
26.4
26.17
29.08
26.56
27.09
25.35
27.62
Effective Tax Rate (%)
-1,150.31
0.67
3.12
2.63
1.37
2.33
14.82
2.65
3.25
-5.88
6.06
3.61
1.79
2.81
4.56
3.32
4.02
Profit Margin (%)
553
-709
-537
-537
-330
-9
-506
-719
-507
-510
515
1,082
1,387
2,179
3,086
1,997
- -
Working Capital
55
699
406
392
469
653
738
1,423
1,666
1,758
363
127
332
1,095
1,461
2,543
- -
LT Debt
864
931
1,417
1,788
1,929
2,554
6,014
7,882
8,143
4,617
5,963
6,576
7,259
8,082
9,720
11,081
- -
Total Equity
-23.44
13.18
26.89
19.61
11.92
19.25
13.63
7.55
8.97
- -
23.58
16.11
7.99
12.39
18.86
11.07
- -
Return on Invested Capital (%)
5.99
27.12
43.82
31.9
18.49
26.79
68.46
11.67
12.12
- -
27.78
18.24
9.11
14.21
21.65
13.71
141.84
Return on Capital (%)
9.59
80.96
203.84
79.67
34.91
50.99
105.98
15.19
17.21
-38.06
37.19
19.23
10.21
16.56
24.57
16.43
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
ST Debt
- -
283
- -
LT Borrowings
- -
1,110
- -
LT Finance Leases
- -
351
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
93
- -
Market Capitalization
44,998
35,746
46,157

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
Total Current Assets
- -
6,852
- -
Cash, Cash Equivalents & STI
- -
2,589
- -
Accounts Receivable, Net
- -
380
- -
Inventories
- -
3,552
- -
Total Current Liabilities
- -
3,766
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
283
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
22.2%
13.26%
14.01%
Free Cash Flow
1.94%
-214.54%
-487.42%
Net Income, GAAP
-7.69%
12.93%
-20.26%
Sales/Revenue/Turnover
7.56%
12.95%
9.46%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
9,237
9,786
9,411
9,485
37,918
2025
10,327
10,195
10,339
10,485
41,323
2026
11,368
11,192
11,576
- -
45,231

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.8
2.42
2.9
- -
11.48
2025
6.3
5.24
4.64
4.11
20.29
2026
4.37
3.73
2.6
- -
16.18

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
2.5
2025
- -
- -
- -
- -
2.5
2026
- -
- -
- -
- -
2.5
Similar Companies
Lien Hwa Industrial Holdings Corporation (1229.TW)
Otoki Corporation (007310.KS)
CSPC Innovation Pharmaceutical Co., Ltd. (300765.SZ)
AAK AB (publ.) (ARHUF)
Associated British Foods plc (ASBFY)
PT Wilmar Cahaya Indonesia Tbk. (CEKA.JK)
Business
Heritage Foods Limited (HERITGFOOD.BO), founded in 1992 and headquartered in Hyderabad, Telangana, India, operates as one of India's leading private-sector dairy companies, processing and marketing a broad portfolio of milk and value-added dairy products; these include standardized milk, full cream milk, Gold milk (3.8% fat), Super Gold milk (5.5% fat), A2 milk, toned milk, curd, butter, ghee, paneer, lassi, flavoured milk, buttermilk, ice cream, frozen desserts, dairy whitener, skimmed milk powder and doodh peda under the Heritage brand; the company also offers fruits, vegetables, bakery items and private-label products such as cereals, pulses, staples and spices through its retail network. With a farm-to-home model, Heritage Foods procures fresh milk daily from over 300,000 farmers via bulk coolers, mini-chilling and chilling centres, serving millions of consumers across 16 states primarily in South and East India through Heritage parlours, franchisees and retail outlets. The company maintains state-of-the-art processing plants with stringent quality controls, including over 25 daily tests by 500+ quality experts, emphasizing purity, freshness and sustainability while empowering farmers through training and fair partnerships. In October 2025, Heritage Foods acquired a 51% stake in Peanutbutter and Jelly Private Limited, owner of the health-focused ice cream brand Get-A-Way, for Rs 9 crore, with plans to acquire an additional 20% post-March 2026; this move, part of its Vision 2030 strategy, expands into functional foods like high-protein, no-added-sugar ice creams and desserts using whey protein and natural sweeteners, leveraging Get-A-Way's revenue growth from Rs 7.89 crore in FY23 to Rs 18.08 crore in FY25.