Heritage Foods Limited Reports Audited Financial Results for Year Ended 31 March 2026; Board Recommends ₹2.50 Final Dividend

Heritage Foods Limited 's Board of Directors, at its meeting held on 11 May 2026, approved the audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The statutory auditors, M/s. Walker Chandiok & Co LLP, issued an unmodified opinion on both the standalone and consolidated financial results. The results were reviewed and recommended by the Audit Committee prior to board approval.

Standalone Financial Performance

On a standalone basis, Heritage Foods reported full-year revenue from operations of ₹44,150.65 million for the year ended 31 March 2026, compared to ₹40,804.81 million in the previous year. Total income for the full year stood at ₹44,387.55 million against ₹41,077.65 million in the prior year. The following table summarises key standalone financial metrics:

Metric: Q4 FY26 Q3 FY26 Q4 FY25 FY26 (Audited) FY25 (Audited) Revenue from Operations (₹ mn): 11,143.04 10,914.08 10,347.62 44,150.65 40,804.81 Total Income (₹ mn): 11,199.93 10,989.99 10,406.47 44,387.55 41,077.65 Total Expenses (₹ mn): 10,899.63 10,578.76 9,819.75 42,625.60 38,509.29 Profit Before Exceptional Items & Tax (₹ mn): 300.30 411.23 586.72 1,761.95 2,568.36 Profit Before Tax (₹ mn): 302.72 411.23 351.87 1,857.93 2,333.51 Profit for the Period/Year (₹ mn): 230.44 304.91 205.10 1,397.01 1,680.82 Total Comprehensive Income (₹ mn): 237.24 306.14 200.47 1,398.81 1,668.21 Basic & Diluted EPES (₹): 2.48 3.29 2.21 15.05 18.11

Standalone exceptional items for the year ended 31 March 2026 included ₹69.33 million (of which ₹7.79 million pertained to the quarter ended 31 March 2026) received as refund of differential GST liability deposited under protest on the classification of flavoured milk, following a favourable order, and ₹32.02 million reversed from previously accrued liability towards potential interest obligations. Additionally, a provision of ₹5.37 million was recorded as impairment loss on investment in Heritage Novandie Foods Limited ("HNFL").

Standalone Segment Performance

As per Ind AS 108, the management has identified Dairy and Renewable Energy as reportable standalone segments. The Dairy segment contributed revenue of ₹44,143.19 million for the full year ended 31 March 2026, compared to ₹40,798.66 million in the prior year. The Renewable Energy segment reported revenue of ₹99.64 million for the year, against ₹87.70 million previously. Segment-wise profit before finance costs, tax, and other unallocable items for the full year was ₹1,862.91 million for Dairy and ₹49.33 million for Renewable Energy.

Consolidated Financial Performance

On a consolidated basis, Heritage Foods reported revenue from operations of ₹45,259.91 million for the year ended 31 March 2026, compared to ₹41,345.95 million in the prior year. Total income for the full year was ₹45,502.21 million against ₹41,624.68 million previously. The consolidated results include subsidiaries Heritage Nutrivet Limited, Heritage Novandie Foods Limited (consolidated as a subsidiary effective 16 June 2025, having been a joint venture until 15 June 2025), and Peanut Butter and Jelly Limited (effective 5 January 2026), as well as associate SKIL Raigam Power (India) Limited.

Metric: Q4 FY26 Q3 FY26 Q4 FY25 FY26 (Audited) FY25 (Audited) Revenue from Operations (₹ mn): 11,575.61 11,191.58 10,484.66 45,259.91 41,345.95 Total Income (₹ mn): 11,636.00 11,269.11 10,549.95 45,502.21 41,624.68 Total Expenses (₹ mn): 11,324.09 10,805.25 9,905.93 43,579.26 38,886.14 Profit Before Tax (₹ mn): 319.70 463.86 541.71 2,011.18 2,582.38 Profit for the Period/Year (₹ mn): 239.44 345.98 381.66 1,501.38 1,882.80 Total Comprehensive Income (₹ mn): 246.61 347.21 376.83 1,503.56 1,870.00 Basic & Diluted EPES (₹): 2.60 3.73 4.11 16.22 20.29

The consolidated segment structure comprises three reportable segments — Dairy, Renewable Energy, and Feed. For the full year ended 31 March 2026, the Dairy segment reported revenue of ₹44,308.75 million, Renewable Energy contributed ₹99.64 million, and the Feed segment reported ₹2,454.45 million. Segment profit before finance costs, tax, and unallocable items for the year was ₹1,827.55 million for Dairy, ₹49.33 million for Renewable Energy, and ₹198.02 million for Feed.

Dividend, AGM, and Corporate Developments

The Board recommended a final dividend of ₹2.50 per equity share of face value ₹5 each (50%) for FY 2025-26, subject to shareholder approval at the 34th Annual General Meeting. Key dates related to the dividend and AGM are as follows:

Event: Details Dividend per Share: ₹2.50 (50% on face value of ₹5 each) Record Date: Wednesday, 15 July 2026 Dividend Payment Date: Thursday, 30 July 2026 Register/Book Closure: Thursday, 16 July 2026 to Thursday, 23 July 2026 (both days inclusive) 34th AGM Date: Thursday, 23 July 2026 at 10:00 AM (IST) via VC/OAVM

The Board also approved the re-appointment of Mr. M P Vijay Kumar (DIN: 05170323) as Non-Executive Independent Director for a second and final term of five consecutive years from 1 November 2026 to 31 October 2031, subject to shareholder approval at the 34th AGM. M/s. Ravi & Subramanyam Company Secretaries, Hyderabad (CP No: 4318), were appointed as scrutinizer for conducting e-voting at the AGM.

In a notable corporate development, the company entered into a Share Purchase Agreement in May 2025 to acquire 71,00,000 equity shares of ₹10 each in HNFL from the other joint venture partner for a consideration of ₹85.00 million. The transaction was completed on 16 June 2025, upon which the company acquired controlling interest in HNFL. Additionally, in compliance with Ind AS 19, the company recognised a one-time increase in provision for defined benefit obligations of ₹48.07 million as an employee benefit expense, following the Government of India's notification of four Labour Codes on 21 November 2025.

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