Latest news with #HeritageFoods
The Hindu
3 days ago
- Business
- The Hindu
Heritage to claim ₹4.53 cr refund of GST paid under protest
Dairy company Heritage Foods said it will claim a refund of more than ₹4.53 crore Goods and Services Tax paid under protest consequent to the Supreme Court dismissing a special leave petition in a matter pertaining to flavoured milk HSN classification and the applicable rate of GST. The Supreme Court has dismissed the SLP filed by the GST Department of Andhra Pradesh against the final judgement passed by High Court of Andhra Pradesh in a writ petition. Pursuant to the dismissal of the SLP, flavoured milk is now conclusively classifiable under tariff heading 04029990, attracting 5% GST, as opposed to heading 22029990, which attracts 12% GST. The company said the more ₹4.53 crore it paid under protest consists of IGST of around ₹17 lakh and CGST and SGST of over ₹2.18 crore each.
India.com
4 days ago
- Business
- India.com
Rs 790000000: Andhra Pradesh CM Naidu's wife earns huge money in just one day due to..., her name is...
Nara Bhuvaneshwari, wife of Andhra CM Naidu In a significant turn of events, shares of Heritage Foods Limited, a dairy company in which Andhra Pradesh Chief Minister-Chandrababu Naidu's family's including his wife Nara Bhuvaneshwari have a total holding of 35.71 % rose over 7% to Rs 493.25, making the family richer by 79 crores in a single day. The data came out when the company posted a net profit of Rs 40.5 crore for the April–June quarter, down 30.7 per cent from Rs 58.4 crore reported in the same period previous year (Q1 FY25). Here are all the details you need to know about Chief Minister-Chandrababu Naidu's family's business growth in Heritage Foods Limited. How wife of Chandrababu Naidu earned Rs 79 crore in 1 day? In the recent development, Heritage Foods Limited shares rose over 7% to Rs 493.25, resulting in a one-day gain of approximately Rs 79 crore for Nara Bhuvaneshwari, wife of Chandrababu Naidu. Notably, Nara Bhuvaneshwari, wife of Chandrababu Naidu holds 2.26 crore shares, which amounts to a 24.37% stake in the company. Rise in value of shares of Heritage Foods Following the earnings announcement, shares of Heritage Foods fell 3.17 per cent on the National Stock Exchange (NSE), settling at Rs 463.65 after touching an intra-day low of Rs 455.85. Meanwhile, the board of Heritage Foods approved the acquisition of an additional 44.4 per cent stake in Heritage Nutrivet (HNFPL). With this move, the company's total stake in HNFPL will rise to 94.4 per cent, giving it strategic control over the yogurt supply chain. Executive Director Brahmani Nara said that unseasonal rains in April and May had temporarily affected demand for value-added products (VAP), which in turn impacted profitability. However, she noted that the month of June showed a healthy recovery, and the company remains confident about its long-term growth. For those unversed, Nara Bhuvaneshwari is the daughter of Telugu cinema veteran and Telugu Desam Party (TDP) founder NT Rama Rao. (With inputs from agencies)
Time of India
5 days ago
- Business
- Time of India
Heritage Foods' Q1 net profit drops 31 per cent to Rs 40.5 crore
Dairy company Heritage Foods Limited on Thursday reported a sharp decline in net profit for the first quarter of FY26, as the company posted a net profit of Rs 40.5 crore for the April-June quarter, down 30.7 per cent from Rs 58.4 crore reported in the same period previous year (Q1 FY25). The fall in profit came despite a 10.1 per cent year-on-year (YoY) growth in revenue, which rose to Rs 1,136.7 crore from Rs 1,032.6 crore in a year-ago period, according to its stock exchange filing. The company's margins were hit due to higher input and operational costs. EBITDA for the quarter dropped 21.2 per cent to Rs 73.8 crore from Rs 93.7 crore in the year-ago period. The EBITDA margin also declined to 6.5 per cent from 9 per cent, reflecting pressure on profitability. Following the earnings announcement, shares of Heritage Foods fell 3.17 per cent on the National Stock Exchange (NSE), settling at Rs 463.65 after touching an intra-day low of Rs 455.85. In the last five days, the shares declined by Rs 22.9 or 4.7 per cent. Over the past one month, the share price increased by Rs 20.7 or 4.67 per cent. In the last six months, the shares rose by Rs 30.9 or 7.13 per cent. On a year-to-date (YTD) basis, the shares fell by Rs 19.75 or 4.08 per cent. Meanwhile, the board of Heritage Foods approved the acquisition of an additional 44.4 per cent stake in Heritage Nutrivet (HNFPL). With this move, the company's total stake in HNFPL will rise to 94.4 per cent, giving it strategic control over the yogurt supply chain. Executive Director Brahmani Nara said that unseasonal rains in April and May had temporarily affected demand for value-added products (VAP), which in turn impacted profitability. However, she noted that the month of June showed a healthy recovery, and the company remains confident about its long-term growth. She also shared that the company's greenfield ice cream project is moving ahead as planned, underlining the firm's continued focus on expanding its product offerings.
Yahoo
5 days ago
- Business
- Yahoo
Heritage Foods Ltd (BOM:519552) Q1 2026 Earnings Call Highlights: Record Revenue and Strategic ...
Quarter Revenue: INR11,368 million, highest ever for the company, marking the third consecutive quarter of double-digit revenue growth. Value-Added Products Revenue: INR4,540 million, growing at 7.4% year-on-year, contributing over 40% to the top line. EBITDA: INR739 million with a 6.5% margin. Profit After Tax (PAT): INR405 million with a 3.6% PAT margin. Milk Procurement: Increased 10% year-on-year to 17.8 lakh liters per day. Milk Sales: Grew at 2.8% year-on-year to 11.6 lakh liters per day, with average realizations improving to INR56.4 per liter. Heritage Nutrivet Revenue: Grew 26% year-on-year to INR533 million. Heritage Nutrivet Profit Before Tax: Increased 130% year-on-year to INR67 million. Warning! GuruFocus has detected 4 Warning Signs with BOM:542760. Release Date: July 18, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Heritage Foods Ltd (BOM:519552) achieved its highest ever quarterly revenue of INR11,368 million, marking the third consecutive quarter of double-digit revenue growth. Revenues from value-added products, including ghee and butter consumer packs, grew by 7.4% year-on-year, contributing over 40% to the top line. Milk procurement increased by 10% year-on-year to 17.8 lakh liters per day, supported by quality-linked sourcing from over 300,000 farmers. Heritage Nutrivet Limited, the animal nutrition subsidiary, saw revenue growth of 26% year-on-year, with profit before tax surging by 130% year-on-year. The company was recognized among India's best workplaces in FMCG 2025 by the Great Place to Work Institute, reflecting its inclusive culture and high-trust workplace environment. Negative Points Year-on-year margins were softer due to seasonality, input cost inflation, and a temporary product mix shift. Early rains temporarily impacted demand for value-added products such as curd, buttermilk, flavored milk, and ice cream. The company faced weather-related challenges, including an erratic monsoon and an unseasonably cool summer, affecting sales. Milk procurement prices increased by 4.74% year-on-year, which was higher than expected and not fully passed on to consumers. The company reported a loss of INR1.31 crores from Heritage Novandie Foods Private Limited in Q1, reflecting operational challenges. Q & A Highlights Q: Can you explain the current trends in milk procurement prices and their impact on your margins? A: Srideep Kesavan, CEO: Milk procurement prices have increased by 4.74% year-on-year, which is slightly higher than expected but not extraordinary. This increase is typical during the lean season in May and June. We have not been able to pass on these costs to consumers due to a mix change and deliberate pricing decisions to maintain sales volume. The pricing changes have primarily affected value-added products. Q: What is the outlook for milk procurement prices over the next 12 months, and how will it affect margins? A: Srideep Kesavan, CEO: We expect stable milk availability, with some short-term price increases possible, but nothing extraordinary. The monsoon has been favorable for milk supply, and we anticipate a 4-5% year-on-year increase in milk prices, which is normal. We aim to maintain margins by potentially increasing prices in the future. Q: What are the strategic plans for Heritage Novandie Foods and the new Livo brand? A: N. Brahmani, Executive Director: Heritage Foods now holds a 94.4% stake in Heritage Novandie Foods. We have repurposed the business to co-pack yogurts under the Livo brand, targeting health-conscious consumers. The initial launch has been encouraging, and we plan to expand the product range and distribution. Q: Can you provide more details on the Vision 2030 plan and its key metrics? A: Srideep Kesavan, CEO: Vision 2030 aims to make Heritage Foods the most admired dairy nutrition company. Key metrics include maintaining double-digit revenue growth, improving farmer income, enhancing consumer loyalty, and achieving sustainability goals. We are focused on transitioning towards a branded consumer business model. Q: How is the company addressing the lactose intolerance trend among consumers? A: Srideep Kesavan, CEO: We are focusing on value-added products that are naturally lower in lactose, such as curd and buttermilk. Additionally, we are working on innovations to offer reduced lactose or zero lactose milk products to cater to lactose-intolerant consumers. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Standard
6 days ago
- Business
- Business Standard
Heritage Foods consolidated net profit declines 30.60% in the June 2025 quarter
Sales rise 10.08% to Rs 1136.76 crore Net profit of Heritage Foods declined 30.60% to Rs 40.55 crore in the quarter ended June 2025 as against Rs 58.43 crore during the previous quarter ended June 2024. Sales rose 10.08% to Rs 1136.76 crore in the quarter ended June 2025 as against Rs 1032.67 crore during the previous quarter ended June 2024. Particulars Quarter Ended Jun. 2025 Jun. 2024 % Var. Sales 1136.761032.67 10 OPM % 6.388.93 - PBDT 73.6494.41 -22 PBT 54.9577.78 -29 NP 40.5558.43 -31
