Yesterday at
Heritage Foods Ltd., we announced our Q4 and full year FY25-26 financial results.
It was a landmark year for us as we crossed the ₹4,500 crore annual revenue milestone. It came at a time when the industry faced severe supply-side disruptions, and unprecedented raw milk inflation. Yet, the resilience of our business model and the strength of our consumer franchise came through strongly.
Our consumer business revenues ex-bulk fats grew by 11.6% during Q4 and 10.7% for the full year; and Value Added Products portfolio (incl. Ghee) grew by 22.5% during Q4 and 17.2% for FY’26, taking its contribution to an all-time high of 41.9% in Q4 and 39.7% for FY’26.
The unprecedented supply-side stress significantly impacted profitability during the year. EBITDA and PAT for Q4FY26 were lower by 35% and 37% respectively, while full-year EBITDA and PAT declined by 19.5% and 20.3% respectively.
Despite repeated price recalibrations to offset raw milk inflation, we continued to deliver healthy growth across key categories — reflecting strong consumer trust, brand resilience and strengthening business fundamentals.
We strengthened our GTM model by adding over 400 distributors and rapidly scaling our presence across Modern Trade and Q-Comm. Today, Heritage Foods is among the Top-3 dairy brands nationally across organized trade channels.
We continue to strengthen our leadership position in Curd, while our premium Sampurna A2 Curd and Livo high-protein yogurt brands have scaled strongly within a short span of launch. We also continue to see great traction for these Value added products across international markets, particularly in Singapore.
This quarter also witnessed the commissioning of our new greenfield ice cream facility, reboot of our brand Alpenvie and significantly expansion of ice cream distribution. We also strengthened our presence in emerging nutrition categories through our majority stake acquisition in
GetAWay Ice Cream & Desserts — one of the fastest growing high-protein, zero-sugar ice cream brands in the country.
This year, we integrated technology and AI deeply into our business processes across sales, forecasting, finance, training and operations — creating scalable execution capability for the next phase of growth.
Looking ahead, what fills me with confidence is that our product portfolio is becoming stronger and more diversified than ever, our distribution momentum is accelerating, our execution capabilities are getting to industry-best levels, and the consumer love for our brands continues to deepen.
Taken together, these are indicators of a business that is steadily becoming stronger and more future-ready as we enter FY26-27.
My heartfelt thanks to our farmers, consumers, teammates, distributors, partners and shareholders for their trust and support through a challenging but defining year for the dairy industry.
The journey continues.