H

Heritage Foods Limited

HERITGFOOD
Market snapshot · 2026-08-11 11:02 UTC

362.60

+₹0.55 (+0.15%)

MARKET CAP

₹3.36K Cr

STOCK P/E

24.9x

52W HIGH

₹540.00

52W LOW

₹292.55

BOOK VALUE

₹118.90

EPS

₹14.58

ROE

SECTOR

Consumer Staples

DEBT/EQUITY

32.62

VOLUME

2.01L

P/B RATIO

3.05x

PEG RATIO

-0.66

Sector

Consumer Staples

Themes

FMCG - FoodsPackaged Foods
D
Dividend
E
Earnings
₹520.62₹465.97₹411.32₹356.67₹302.02VolumeEEDEAug '25Sep '25Nov '25Jan '26Mar '26Apr '26Jun '26Aug '26

AI Summary

✦ Clartha

Heritage Foods is an Indian dairy processor supplying milk, curd, ghee, paneer, beverages, and other dairy products. Dairy drives revenue, while Feed contributes cattle-feed and animal-health products; Renewable Energy generates solar and wind power. Revenue grew 9.5% year-on-year, but the provided developments concern Nestlé India, not Heritage Foods. Therefore, no company-specific catalyst supports a margin or growth upgrade. Profit declined 20.3% as margins compressed, indicating weaker earnings conversion despite topline growth. ROE is unavailable, while debt-to-equity of 32.62 implies substantial leverage, increasing financial risk and potentially distorting shareholder returns. At 24.8 times earnings, the stock is fairly valued rather than discounted, but that multiple appears demanding against falling profit and declining margins. The key open question is whether dairy pricing, product mix, and Feed performance can restore profitability.

Forecast

Analyst targets, estimate history, and probabilistic forward ranges for HERITGFOOD.

3.00 analysts

Price Forecast

Current
₹362.60
High Target
₹460.00
▲ +26.9%
Median Target
₹375.00
▲ +3.4%
Low Target
₹346.00
▼ -4.6%
Now₹362.60High ₹460.00Median ₹375.00Low ₹346.00Aug '25Now12M Target
Price history (1Y)
Analyst target range
3 analysts

Probabilistic Range

Probabilistic lognormal cone using 1Y realized volatility and analyst-target drift when available.

Time horizonRange ()Probability
3M₹286.05 - ₹439.4680%
6M₹255.90 - ₹469.6780%
12M₹215.76 - ₹509.2480%
Realized vol: +33.5% · Drift: -3.4%

Revenue Forecast

₹ Cr
Jun '26Current₹1,292.0
Sep 2026 ETrend estimate range
High₹1,295.1Base₹1,199.2Low₹1,103.3
Sep '25: ₹1,090.0 · Dec '25: ₹1,091.0 · Mar '26: ₹1,114.0 · Jun '26: ₹1,292.0 · Sep '26: ₹1,199.2 · Dec '26: ₹1,200.3
Sep '25Dec '25Mar '26Jun '26Sep '26 EDec '26 E1,090.01,091.01,114.01,292.01,199.21,200.3
PastCurrentTrend estimate: Low / Base / High

EPS Forecast

₹ / share
Jun '26Current₹2.67
Sep 2026 ETrend estimate range
High₹4.91Base₹4.38Low₹3.85
Sep '25: ₹5.22 · Dec '25: ₹3.29 · Mar '26: ₹2.48 · Jun '26: ₹2.67 · Sep '26: ₹4.38 · Dec '26: ₹2.76
Sep '25Dec '25Mar '26Jun '26Sep '26 EDec '26 E5.223.292.482.674.382.76
PastCurrentTrend estimate: Low / Base / High
Market Intelligence

Multi-factor synthesis of 5 key dimensions

Overall Outlook
Mixed
45%
Analyst Consensus
Unavailable

From 3 analysts

Mean upside+8.6%

Fundamentals

Weakening

Fundamentals institutional score is 24 using growth durability 24.4.

Valuation

Fairly valued

Valuation institutional score is 54 using relative multiple z-scores where peer dispersion is available.

Analyst Consensus

Neutral

Analyst View institutional score is 57 using mean target upside 8.6%; dispersion penalty 11.6; recommendation breadth from available consensus.

Technical Structure

Weak Structure

Technicals institutional score is 44 using EMA-20 continuation within 5% tolerance; VCP range/volume contraction proxy.

Market Sentiment

Neutral backdrop

Recent news flow is balanced or not decisive enough to tilt the tape. Based on 5 recent ticker-linked news items.

Signal Summary

Market intelligence remains Mixed. Available evidence provides partial support, while fundamentals and valuation remain considerations.

Composite weights: Fundamentals 25%, Valuation 20%, Analyst Consensus 20%, Technical Structure 20%, Market Sentiment 15%.

Fundamentals WeakeningValuation Fairly valuedAnalyst Consensus NeutralTechnical Structure Weak StructureMarket Sentiment Neutral backdrop

Key Data Points

Mean Target Price393.7 target
Mean Upside+8.6%
Technical Score44%
Fundamental Score24%
Data CoverageHigh

Important Note: This is market intelligence, not investment advice. Always conduct your own research and consider your financial goals and risk tolerance.

Valuation Metrics

Trading 7.9% below historical median. Valuation is declining — currently in the strongly undervalued zone (z-score: -0.35). Confidence: 74%.

Live forward EPS implies next-12-month EPS of ₹20.80. Applying the stock's normalized valuation corridor produces a fair range of ₹457.60 to ₹679.54, with base value near ₹560.56 (+54.8% vs current price).

Forward Valuation Outlook

Live forward estimate anchored to the company's historical valuation corridor.

Below normalized range

Forward EPS

₹20.80

Forward P/E

17.4x

Base Fair Value

₹560.56

Fair Range

₹457.60 - ₹679.54

Upside To Base

+54.8%

Estimate Source

Live forward EPS

Growth Estimate

-37.8%

P/E
Strongly Undervalued

5Y Average

21.30

Current

24.81

Overvalued

32.67

Undervalued

22.00

EV/EBITDA
Fair

5Y Average

12.03

Current

14.02

Overvalued

15.76

Undervalued

7.13

P/S
Overvalued

5Y Average

0.61

Current

0.71

Overvalued

0.70

Undervalued

0.52

Peers & Comparison

Sector: Consumer Staples · Theme: FMCG - Foods

FMCG - Foods Peers7 peers
Avg P/E: 50.9x
CompanyRev. GrowthMarginP/Evs Avg52W Perf.
DODLA DAIRY LIMITED
DODLAFMCG - Foods
+19.0%5.7%
25.7x
Undervalued
-50% vs avg
-19.5%
VADILAL INDUSTRIES LTD
VADILALINDFMCG - Foods
+57.0%10.3%
33.2x
Undervalued
-35% vs avg
+49.6%
BIKAJI FOODS INTERN LTD
BIKAJIFMCG - Foods
+12.5%8.4%
59.9x
Premium
+18% vs avg
-13.6%
MRS BECTORS FOOD SPE LTD
BECTORFOODFMCG - Foods
+16.0%7.0%
50.5x
Fair
-1% vs avg
-18.5%
HINDUSTAN FOODS LIMITED
HNDFDSFMCG - Foods
+20.7%3.6%
47.1x
Fair
-7% vs avg
+11.2%
ZYDUS WELLNESS LIMITED
ZYDUSWELLFMCG - Foods
+66.9%4.1%
89.0x
Premium
+75% vs avg
+32.9%
KWALITY WALL'S (INDIA) L
KWILFMCG - Foods
+6.3%-19.5%
+17.4%
WHY THESE PEERS

HERITAGE FOODS LTD trades at a discount (24.9x vs peer avg 50.9x), suggesting potential undervaluation relative to the Fmcg - Foods cohort. Peers include DODLA DAIRY LIMITED, VADILAL INDUSTRIES LTD, BIKAJI FOODS INTERN LTD — selected based on business model, industry classification, market cap similarity, and business theme alignment.

Financials

Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.

Latest revenue

₹1.29K CrJun 2026

Latest net profit

₹25 CrJun 2026

Latest EPS

₹2.67Jun 2026

Net margin

4.6%Jun 2026

Performance

Bars show revenue and net profit. The line shows net margin.

Rs crore + margin %
Q1 '26Q2 '26Q3 '26Q4 '26Q1 '270.0%2.0%4.0%6.0%8.0%0.00 Cr350 Cr700 Cr1.05K Cr1.40K Cr
  • Revenue
  • Net income
  • Net margin %

Earnings

Revenue is shown in crores. EPS is rupees per share.

Rs crore + Rs/share
Q1 '26Q2 '26Q3 '26Q4 '26Q1 '270.00 Cr350 Cr700 Cr1.05K Cr1.40K Cr₹0₹2₹4₹6₹8
  • Revenue
  • EPS

Revenue to profit conversion

Bridge from operating numbers to profit for the latest reported period.

Rs crore
RevenueExpensesDepreciationOtheradjustmentsOperatingprofitOther incomeInterestOtheradjustmentsProfitbefore taxTax & otherNet Profit0.00 Cr350 Cr700 Cr1.05K Cr1.40K Cr

Latest reported period: Jun 2026

Debt level and coverage

Debt, cash and free cash flow compared on the same crore scale.

Rs crore
Annual view
Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026-650 Cr0.00 Cr650 Cr1.30K Cr1.95K Cr
  • Debt
  • Free cash flow
  • Cash & equivalents

Results

MetricJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales +9139639239361,0201,0061,0201,0351,1191,0901,0911,1141,292
Expenses +8759198738699299279529611,0511,0191,0351,0651,232
Operating Profit39444967907968746872575059
OPM %4.2%4.6%5%7%9%8%7%7%6%7%5%4.5%4.6%
Other Income +323-12688-18515866
Interest3123344444458
Depreciation14141515161717171819192025
Profit before tax25303637776655355164413033
Tax %27%25%24%37%24%27%25%42%25%24%26%24%25%
Net Profit +18232723584841213848302325
EPS in Rs1.952.432.922.526.255.204.452.214.075.223.292.482.67
Raw PDF

All values in ₹ Crores unless otherwise stated. Source: Screener Master (Standalone).

Shareholding Pattern

HolderJun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters +41.30%41.30%41.30%41.30%41.30%
FIIs +6.16%4.60%3.95%2.21%1.98%
DIIs +4.14%4.31%4.88%6.21%6.38%
Public +48.41%49.78%49.86%50.28%50.34%
Others0.01%0.01%
Jun 2026
Promoters +
FIIs +
DIIs +
Public +

Events Timeline

Annual Report FY26

FY2026PDFCompany Reports Open

Disclosure Under Regulation 30 Of SEBI LODR - ESG Rating

Jul 31, 2026PDFCompany Reports Open

Disclosure Under Regulation 30 (LODR) - ESG Rating

Jul 30, 2026PDFCompany Reports Open

Update On Acquisition Of Additional 20% Equity Share Capital Of M/S. Peanutbutter And Jelly Limited

Jul 27, 2026PDFCompany Reports Open

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

Jul 23, 2026PDFCompany Reports Open