Heritage Foods Ltd.
•₹ 380.850.55%
2026-08-21
PROS
- Company has a healthy return on capital (ROCE) of 20.8%
- Company has consistently been profitable over the last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.89x)
- Working capital cycle has improved - days down from 26 to 16
- Company comfortably covers its interest (11.9x coverage)
- Company has a consistent dividend-paying track record
CONS
- Receivables are growing faster than sales - a possible quality concern
- Recent results are weak - TTM profit is down 14.6% versus prior year
- Total debt has risen sharply - up 137.3% year on year
- Company has delivered a poor profit growth of 0.1% over past five years
- Recurring exceptional / one-off items are inflating headline profit
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | NESTLEIND | 1469.90 | 74.37 | 283442.92 | 0.82 | 9586.80 | 1382.67 | 63781.80 | 1157.04 | 98.35 | 23.86 |
| 2. | VBL | 432.75 | 43.23 | 146376.17 | 0.35 | 1525.36 | 15.08 | 8650.57 | 20.77 | 20.73 | 27.04 |
| 3. | BRITANNIA | 5410.00 | 50.04 | 130309.75 | 1.67 | 593.38 | 14.08 | 4999.97 | 10.26 | 56.48 | 16.77 |
| 4. | JUBLFOOD | 495.90 | 75.40 | 32721.72 | 0.24 | 100.03 | 6.03 | 2569.65 | 13.66 | 25.56 | 19.77 |
| 5. | HATSUN | 931.75 | 59.58 | 20754.57 | 1.72 | 60.58 | — | 2363.72 | 17.61 | 14.60 | 10.81 |
| 6. | DEVYANI | 142.85 | 0.00 | 17612.54 | 0.00 | 17.10 | 667.68 | 1580.52 | 16.47 | 8.98 | 16.09 |
| 7. | ZYDUSWELL | 492.95 | 83.34 | 15683.73 | 0.24 | 118.90 | -7.04 | 1437.00 | 67.54 | 4.42 | 16.82 |
| 8. | MILKYMIST | 199.55 | 120.95 | 15362.23 | 0.00 | — | — | — | — | 13.79 | — |
| 9. | BIKAJI | 609.25 | 59.09 | 15276.12 | 0.21 | 59.47 | 1.62 | 734.26 | 15.26 | 21.65 | 13.48 |
| 10. | LTFOODS | 429.90 | 23.31 | 14928.40 | 0.70 | 1834.46 | 988.67 | 31518.31 | 1179.20 | 21.42 | 11.26 |
| 11. | MANORAMA | 1924.70 | 49.26 | 12149.17 | 0.04 | 78.66 | 67.55 | 404.01 | 39.53 | 19.70 | 26.29 |
| 12. | HERITGFOOD | 359.25 | 24.68 | 3333.70 | 0.70 | 24.97 | -38.41 | 1338.09 | 17.71 | 17.32 | 4.62 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 924 | 979 | 941 | 951 | 1,033 | 1,020 | 1,034 | 1,048 | 1,137 | 1,113 | 1,119 | 1,158 | 1,338 | |
| 883 | 931 | 889 | 880 | 939 | 936 | 960 | 969 | 1,063 | 1,035 | 1,056 | 1,105 | 1,311 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 3 | 2 | 3 | 5 | 6 | 7 | 8 | 7 | 5 | 5 | 8 | 6 | 6 |
| Interest | 3 | 2 | 2 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 8 |
| Depreciation | 15 | 15 | 16 | 16 | 17 | 17 | 18 | 18 | 19 | 20 | 20 | 22 | 26 |
| 25 | 32 | 38 | 56 | 79 | 69 | 61 | 56 | 56 | 68 | 46 | 32 | 34 | |
| Tax % | 26.94% | 25.56% | 24.30% | 25.38% | 24.39% | 27.12% | 25.99% | 28.75% | 25.60% | 24.75% | 25.41% | 25.12% | 25.57% |
| Net Profit | 0 | 0 | 0 | 0 | 58 | 49 | 43 | 38 | 41 | 51 | 35 | 24 | 25 |
| 2 | 2 | 3 | 4 | 6 | 5 | 5 | 4 | 4 | 6 | 4 | 3 | 0 | |
| Equity Capital | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 924
- 883
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 3
- Depreciation
- 15
- 25
- Tax %
- 26.94%
- Net Profit
- 0
- 2
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 979
- 931
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 2
- Depreciation
- 15
- 32
- Tax %
- 25.56%
- Net Profit
- 0
- 2
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 941
- 889
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 2
- Depreciation
- 16
- 38
- Tax %
- 24.30%
- Net Profit
- 0
- 3
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 951
- 880
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 3
- Depreciation
- 16
- 56
- Tax %
- 25.38%
- Net Profit
- 0
- 4
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 1,033
- 939
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 3
- Depreciation
- 17
- 79
- Tax %
- 24.39%
- Net Profit
- 58
- 6
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 1,020
- 936
- Operating Profit
- —
- OPM %
- —
- Other Income
- 7
- Interest
- 4
- Depreciation
- 17
- 69
- Tax %
- 27.12%
- Net Profit
- 49
- 5
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 1,034
- 960
- Operating Profit
- —
- OPM %
- —
- Other Income
- 8
- Interest
- 4
- Depreciation
- 18
- 61
- Tax %
- 25.99%
- Net Profit
- 43
- 5
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 1,048
- 969
- Operating Profit
- —
- OPM %
- —
- Other Income
- 7
- Interest
- 4
- Depreciation
- 18
- 56
- Tax %
- 28.75%
- Net Profit
- 38
- 4
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 1,137
- 1,063
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 4
- Depreciation
- 19
- 56
- Tax %
- 25.60%
- Net Profit
- 41
- 4
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 1,113
- 1,035
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 4
- Depreciation
- 20
- 68
- Tax %
- 24.75%
- Net Profit
- 51
- 6
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 1,119
- 1,056
- Operating Profit
- —
- OPM %
- —
- Other Income
- 8
- Interest
- 4
- Depreciation
- 20
- 46
- Tax %
- 25.41%
- Net Profit
- 35
- 4
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 1,158
- 1,105
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 5
- Depreciation
- 22
- 32
- Tax %
- 25.12%
- Net Profit
- 24
- 3
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 1,338
- 1,311
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 8
- Depreciation
- 26
- 34
- Tax %
- 25.57%
- Net Profit
- 25
- 0
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 46
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,832 | 2,373 | 2,515 | 2,726 | 2,473 | 2,681 | 3,241 | 3,794 | 4,135 | 4,526 | 4,727 | |
| 1,724 | 2,629 | 2,459 | 3,107 | 2,210 | 2,489 | 3,101 | 3,584 | 3,802 | 4,258 | 4,508 | |
| Operating Profit | 359 | 148 | 196 | -78 | 272 | 204 | 152 | 222 | 360 | 292 | — |
| OPM % | 20 | 6 | 8 | -3 | 11 | 8 | 5 | 6 | 9 | 6 | — |
| Other Income | 251 | 403 | 140 | 303 | 8 | 11 | 12 | 12 | 28 | 24 | 25 |
| Interest | 11 | 20 | 23 | 24 | 21 | 6 | 6 | 9 | 17 | 18 | 21 |
| Depreciation | 25 | 38 | 45 | 50 | 46 | 52 | 56 | 61 | 70 | 81 | 89 |
| 323 | 90 | 128 | -153 | 203 | 131 | 82 | 145 | 258 | 201 | 180 | |
| Tax % | 10 | 30 | 35 | -10 | 26 | 26 | 29 | 27 | 27 | 25 | 25 |
| Net Profit | 291 | 63 | 83 | -169 | 149 | 97 | 58 | 107 | 188 | 150 | 135 |
| EPS | 119 | 14 | 18 | -35 | 32 | 11 | 6 | 11 | 20 | 16 | — |
| Dividend Payout % | 3 | 15 | 11 | -7 | 15 | 24 | 40 | 22 | 12 | 15 | — |
| Minority Interest | -3 | 0 | -1 | 9 | 2 | 0 | 0 | 0 | 0 | 0 | -0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 30 | 7 | 9 | -18 | 16 | 11 | 6 | 11 | 20 | 16 | — |
| Minority Interest | -3 | 0 | -1 | 9 | 2 | 0 | 0 | 0 | 0 | 0 | -0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 30 | 7 | 9 | -18 | 16 | 11 | 6 | 11 | 20 | 16 | — |
Mar 2017
- 1,832
- 1,724
- Operating Profit
- 359
- OPM %
- 20
- Other Income
- 251
- Interest
- 11
- Depreciation
- 25
- 323
- Tax %
- 10
- Net Profit
- 291
- EPS
- 119
- Dividend Payout %
- 3
- Minority Interest
- -3
- Share of Associates
- 0
- Adjusted EPS
- 30
- Minority Interest
- -3
- Share of Associates
- 0
- Adjusted EPS
- 30
Mar 2018
- 2,373
- 2,629
- Operating Profit
- 148
- OPM %
- 6
- Other Income
- 403
- Interest
- 20
- Depreciation
- 38
- 90
- Tax %
- 30
- Net Profit
- 63
- EPS
- 14
- Dividend Payout %
- 15
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
Mar 2019
- 2,515
- 2,459
- Operating Profit
- 196
- OPM %
- 8
- Other Income
- 140
- Interest
- 23
- Depreciation
- 45
- 128
- Tax %
- 35
- Net Profit
- 83
- EPS
- 18
- Dividend Payout %
- 11
- Minority Interest
- -1
- Share of Associates
- 0
- Adjusted EPS
- 9
- Minority Interest
- -1
- Share of Associates
- 0
- Adjusted EPS
- 9
Mar 2020
- 2,726
- 3,107
- Operating Profit
- -78
- OPM %
- -3
- Other Income
- 303
- Interest
- 24
- Depreciation
- 50
- -153
- Tax %
- -10
- Net Profit
- -169
- EPS
- -35
- Dividend Payout %
- -7
- Minority Interest
- 9
- Share of Associates
- 0
- Adjusted EPS
- -18
- Minority Interest
- 9
- Share of Associates
- 0
- Adjusted EPS
- -18
Mar 2021
- 2,473
- 2,210
- Operating Profit
- 272
- OPM %
- 11
- Other Income
- 8
- Interest
- 21
- Depreciation
- 46
- 203
- Tax %
- 26
- Net Profit
- 149
- EPS
- 32
- Dividend Payout %
- 15
- Minority Interest
- 2
- Share of Associates
- 0
- Adjusted EPS
- 16
- Minority Interest
- 2
- Share of Associates
- 0
- Adjusted EPS
- 16
Mar 2022
- 2,681
- 2,489
- Operating Profit
- 204
- OPM %
- 8
- Other Income
- 11
- Interest
- 6
- Depreciation
- 52
- 131
- Tax %
- 26
- Net Profit
- 97
- EPS
- 11
- Dividend Payout %
- 24
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 11
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 11
Mar 2023
- 3,241
- 3,101
- Operating Profit
- 152
- OPM %
- 5
- Other Income
- 12
- Interest
- 6
- Depreciation
- 56
- 82
- Tax %
- 29
- Net Profit
- 58
- EPS
- 6
- Dividend Payout %
- 40
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
Mar 2024
- 3,794
- 3,584
- Operating Profit
- 222
- OPM %
- 6
- Other Income
- 12
- Interest
- 9
- Depreciation
- 61
- 145
- Tax %
- 27
- Net Profit
- 107
- EPS
- 11
- Dividend Payout %
- 22
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 11
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 11
Mar 2025
- 4,135
- 3,802
- Operating Profit
- 360
- OPM %
- 9
- Other Income
- 28
- Interest
- 17
- Depreciation
- 70
- 258
- Tax %
- 27
- Net Profit
- 188
- EPS
- 20
- Dividend Payout %
- 12
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 20
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 20
Mar 2026
- 4,526
- 4,258
- Operating Profit
- 292
- OPM %
- 6
- Other Income
- 24
- Interest
- 18
- Depreciation
- 81
- 201
- Tax %
- 25
- Net Profit
- 150
- EPS
- 16
- Dividend Payout %
- 15
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 16
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 16
TTM
- 4,727
- 4,508
- Operating Profit
- —
- OPM %
- —
- Other Income
- 25
- Interest
- 21
- Depreciation
- 89
- 180
- Tax %
- 25
- Net Profit
- 135
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 10%
- 5 Years:
- 13%
- 3 Years:
- 12%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 11%
- 5 Years:
- 0%
- 3 Years:
- 37%
STOCK PRICE CAGR
- 10 Years:
- 8%
- 5 Years:
- 10%
- 3 Years:
- 15%
- 1 Year:
- -22%
RETURN ON EQUITY
- 10 Years:
- 17%
- 5 Years:
- 15%
- 3 Years:
- 17%
- Last Year:
- 15%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 23 | 23 | 23 | 23 | 23 | 23 | 46 | 46 | 46 | 46 |
| 564 | 751 | 776 | 433 | 569 | 631 | 676 | 759 | 922 | 1,054 | |
| 84 | 136 | 132 | 134 | 30 | 4 | 130 | 0 | 0 | 52 | |
| Trade Payables | 62 | 68 | 69 | 60 | 36 | 52 | 77 | 145 | 172 | 204 |
| 262 | 728 | 634 | 338 | 220 | 193 | 195 | 331 | 418 | 593 | |
| Total Liabilities | 996 | 1,707 | 1,635 | 988 | 879 | 903 | 1,125 | 1,281 | 1,558 | 1,950 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 295 | 429 | 472 | 475 | 575 | 575 | 617 | 700 | 743 | 1,162 | |
| Capital Work in Progress | 8 | 9 | 42 | 76 | 16 | 7 | 20 | 20 | 68 | 47 |
| 478 | 1,002 | 835 | 152 | 13 | 18 | 15 | 140 | 196 | 186 | |
| 123 | 155 | 138 | 145 | 198 | 206 | 379 | 262 | 355 | 318 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 29 | 38 | 71 | |
| Cash & Bank | 58 | 72 | 77 | 60 | 24 | 36 | 19 | 84 | 70 | 70 |
| 35 | 40 | 71 | 81 | 52 | 61 | 75 | 46 | 88 | 95 | |
| Total Assets | 996 | 1,707 | 1,635 | 988 | 879 | 903 | 1,125 | 1,281 | 1,558 | 1,950 |
| Total Debt | 158 | 280 | 299 | 306 | 64 | 12 | 135 | 93 | 137 | 324 |
| Net Working Capital | -51 | -72 | -51 | -72 | 51 | 108 | 139 | 218 | 309 | 200 |
| Contingent Liabilities | 7 | 4 | 3 | 4 | 4 | 9 | 9 | 19 | 18 | 16 |
| Book Value per Share | 253.29 | 166.92 | 172.29 | 98.37 | 127.73 | 141.03 | 77.88 | 86.75 | 104.40 | 118.55 |
| Face Value | 10.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 |
| Total Debt | 158 | 280 | 299 | 306 | 64 | 12 | 135 | 93 | 137 | 324 |
| Net Working Capital | -51 | -72 | -51 | -72 | 51 | 108 | 139 | 218 | 309 | 200 |
| Contingent Liabilities | 7 | 4 | 3 | 4 | 4 | 9 | 9 | 19 | 18 | 16 |
| Book Value per Share | 253.29 | 166.92 | 172.29 | 98.37 | 127.73 | 141.03 | 77.88 | 86.75 | 104.40 | 118.55 |
| Face Value | 10.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 |
Mar 2017
- Equity Capital
- 23
- 564
- 84
- Trade Payables
- 62
- 262
- Total Liabilities
- 996
- 295
- Capital Work in Progress
- 8
- 478
- 123
- 0
- Cash & Bank
- 58
- 35
- Total Assets
- 996
- Total Debt
- 158
- Net Working Capital
- -51
- Contingent Liabilities
- 7
- Book Value per Share
- 253.29
- Face Value
- 10.00
- Total Debt
- 158
- Net Working Capital
- -51
- Contingent Liabilities
- 7
- Book Value per Share
- 253.29
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 23
- 751
- 136
- Trade Payables
- 68
- 728
- Total Liabilities
- 1,707
- 429
- Capital Work in Progress
- 9
- 1,002
- 155
- 0
- Cash & Bank
- 72
- 40
- Total Assets
- 1,707
- Total Debt
- 280
- Net Working Capital
- -72
- Contingent Liabilities
- 4
- Book Value per Share
- 166.92
- Face Value
- 5.00
- Total Debt
- 280
- Net Working Capital
- -72
- Contingent Liabilities
- 4
- Book Value per Share
- 166.92
- Face Value
- 5.00
Mar 2019
- Equity Capital
- 23
- 776
- 132
- Trade Payables
- 69
- 634
- Total Liabilities
- 1,635
- 472
- Capital Work in Progress
- 42
- 835
- 138
- 0
- Cash & Bank
- 77
- 71
- Total Assets
- 1,635
- Total Debt
- 299
- Net Working Capital
- -51
- Contingent Liabilities
- 3
- Book Value per Share
- 172.29
- Face Value
- 5.00
- Total Debt
- 299
- Net Working Capital
- -51
- Contingent Liabilities
- 3
- Book Value per Share
- 172.29
- Face Value
- 5.00
Mar 2020
- Equity Capital
- 23
- 433
- 134
- Trade Payables
- 60
- 338
- Total Liabilities
- 988
- 475
- Capital Work in Progress
- 76
- 152
- 145
- 0
- Cash & Bank
- 60
- 81
- Total Assets
- 988
- Total Debt
- 306
- Net Working Capital
- -72
- Contingent Liabilities
- 4
- Book Value per Share
- 98.37
- Face Value
- 5.00
- Total Debt
- 306
- Net Working Capital
- -72
- Contingent Liabilities
- 4
- Book Value per Share
- 98.37
- Face Value
- 5.00
Mar 2021
- Equity Capital
- 23
- 569
- 30
- Trade Payables
- 36
- 220
- Total Liabilities
- 879
- 575
- Capital Work in Progress
- 16
- 13
- 198
- 0
- Cash & Bank
- 24
- 52
- Total Assets
- 879
- Total Debt
- 64
- Net Working Capital
- 51
- Contingent Liabilities
- 4
- Book Value per Share
- 127.73
- Face Value
- 5.00
- Total Debt
- 64
- Net Working Capital
- 51
- Contingent Liabilities
- 4
- Book Value per Share
- 127.73
- Face Value
- 5.00
Mar 2022
- Equity Capital
- 23
- 631
- 4
- Trade Payables
- 52
- 193
- Total Liabilities
- 903
- 575
- Capital Work in Progress
- 7
- 18
- 206
- 0
- Cash & Bank
- 36
- 61
- Total Assets
- 903
- Total Debt
- 12
- Net Working Capital
- 108
- Contingent Liabilities
- 9
- Book Value per Share
- 141.03
- Face Value
- 5.00
- Total Debt
- 12
- Net Working Capital
- 108
- Contingent Liabilities
- 9
- Book Value per Share
- 141.03
- Face Value
- 5.00
Mar 2023
- Equity Capital
- 46
- 676
- 130
- Trade Payables
- 77
- 195
- Total Liabilities
- 1,125
- 617
- Capital Work in Progress
- 20
- 15
- 379
- 0
- Cash & Bank
- 19
- 75
- Total Assets
- 1,125
- Total Debt
- 135
- Net Working Capital
- 139
- Contingent Liabilities
- 9
- Book Value per Share
- 77.88
- Face Value
- 5.00
- Total Debt
- 135
- Net Working Capital
- 139
- Contingent Liabilities
- 9
- Book Value per Share
- 77.88
- Face Value
- 5.00
Mar 2024
- Equity Capital
- 46
- 759
- 0
- Trade Payables
- 145
- 331
- Total Liabilities
- 1,281
- 700
- Capital Work in Progress
- 20
- 140
- 262
- 29
- Cash & Bank
- 84
- 46
- Total Assets
- 1,281
- Total Debt
- 93
- Net Working Capital
- 218
- Contingent Liabilities
- 19
- Book Value per Share
- 86.75
- Face Value
- 5.00
- Total Debt
- 93
- Net Working Capital
- 218
- Contingent Liabilities
- 19
- Book Value per Share
- 86.75
- Face Value
- 5.00
Mar 2025
- Equity Capital
- 46
- 922
- 0
- Trade Payables
- 172
- 418
- Total Liabilities
- 1,558
- 743
- Capital Work in Progress
- 68
- 196
- 355
- 38
- Cash & Bank
- 70
- 88
- Total Assets
- 1,558
- Total Debt
- 137
- Net Working Capital
- 309
- Contingent Liabilities
- 18
- Book Value per Share
- 104.40
- Face Value
- 5.00
- Total Debt
- 137
- Net Working Capital
- 309
- Contingent Liabilities
- 18
- Book Value per Share
- 104.40
- Face Value
- 5.00
Mar 2026
- Equity Capital
- 46
- 1,054
- 52
- Trade Payables
- 204
- 593
- Total Liabilities
- 1,950
- 1,162
- Capital Work in Progress
- 47
- 186
- 318
- 71
- Cash & Bank
- 70
- 95
- Total Assets
- 1,950
- Total Debt
- 324
- Net Working Capital
- 200
- Contingent Liabilities
- 16
- Book Value per Share
- 118.55
- Face Value
- 5.00
- Total Debt
- 324
- Net Working Capital
- 200
- Contingent Liabilities
- 16
- Book Value per Share
- 118.55
- Face Value
- 5.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 115 | 121 | 148 | 117 | 174 | 148 | -61 | 390 | 214 | 237 | |
| Cash from Investing | -120 | -200 | -133 | -97 | 69 | -42 | -83 | -252 | -229 | -375 |
| Cash from Financing | -13 | 55 | -3 | -22 | -191 | -93 | 126 | -76 | 1 | 138 |
| -18 | -23 | 12 | -2 | 51 | 13 | -17 | 62 | -14 | 0 | |
| Free Cash Flow | 115 | -36 | 30 | 39 | 92 | 121 | -154 | 260 | 68 | -247 |
| OCF / Net Profit | 0.39 | 1.93 | 1.79 | -0.69 | 1.17 | 1.53 | -1.04 | 3.66 | 1.14 | 1.58 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 241 | 247 | 128 | 357 | 386 | 48 |
| OCF / Net Profit | 0.39 | 1.93 | 1.79 | -0.69 | 1.17 | 1.53 | -1.04 | 3.66 | 1.14 | 1.58 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 241 | 247 | 128 | 357 | 386 | 48 |
Mar 2017
- 115
- Cash from Investing
- -120
- Cash from Financing
- -13
- -18
- Free Cash Flow
- 115
- OCF / Net Profit
- 0.39
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.39
- Cumulative 5-Year FCF
- 0
Mar 2018
- 121
- Cash from Investing
- -200
- Cash from Financing
- 55
- -23
- Free Cash Flow
- -36
- OCF / Net Profit
- 1.93
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.93
- Cumulative 5-Year FCF
- 0
Mar 2019
- 148
- Cash from Investing
- -133
- Cash from Financing
- -3
- 12
- Free Cash Flow
- 30
- OCF / Net Profit
- 1.79
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.79
- Cumulative 5-Year FCF
- 0
Mar 2020
- 117
- Cash from Investing
- -97
- Cash from Financing
- -22
- -2
- Free Cash Flow
- 39
- OCF / Net Profit
- -0.69
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.69
- Cumulative 5-Year FCF
- 0
Mar 2021
- 174
- Cash from Investing
- 69
- Cash from Financing
- -191
- 51
- Free Cash Flow
- 92
- OCF / Net Profit
- 1.17
- Cumulative 5-Year FCF
- 241
- OCF / Net Profit
- 1.17
- Cumulative 5-Year FCF
- 241
Mar 2022
- 148
- Cash from Investing
- -42
- Cash from Financing
- -93
- 13
- Free Cash Flow
- 121
- OCF / Net Profit
- 1.53
- Cumulative 5-Year FCF
- 247
- OCF / Net Profit
- 1.53
- Cumulative 5-Year FCF
- 247
Mar 2023
- -61
- Cash from Investing
- -83
- Cash from Financing
- 126
- -17
- Free Cash Flow
- -154
- OCF / Net Profit
- -1.04
- Cumulative 5-Year FCF
- 128
- OCF / Net Profit
- -1.04
- Cumulative 5-Year FCF
- 128
Mar 2024
- 390
- Cash from Investing
- -252
- Cash from Financing
- -76
- 62
- Free Cash Flow
- 260
- OCF / Net Profit
- 3.66
- Cumulative 5-Year FCF
- 357
- OCF / Net Profit
- 3.66
- Cumulative 5-Year FCF
- 357
Mar 2025
- 214
- Cash from Investing
- -229
- Cash from Financing
- 1
- -14
- Free Cash Flow
- 68
- OCF / Net Profit
- 1.14
- Cumulative 5-Year FCF
- 386
- OCF / Net Profit
- 1.14
- Cumulative 5-Year FCF
- 386
Mar 2026
- 237
- Cash from Investing
- -375
- Cash from Financing
- 138
- 0
- Free Cash Flow
- -247
- OCF / Net Profit
- 1.58
- Cumulative 5-Year FCF
- 48
- OCF / Net Profit
- 1.58
- Cumulative 5-Year FCF
- 48
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 118.58 | 13.53 | 17.55 | -34.55 | 32.32 | 20.81 | 6.25 | 11.48 | 20.29 | 16.22 |
| Book Value (₹) | 253.29 | 166.92 | 172.29 | 98.37 | 127.73 | 141.03 | 77.88 | 86.75 | 104.40 | 118.55 |
| Dividend per Share (₹) | 4.00 | 2.00 | 2.00 | 2.50 | 5.00 | 5.00 | 2.50 | 2.50 | 2.50 | 2.50 |
| Cash EPS (₹) | 34.52 | 10.98 | 13.94 | -12.96 | 21.34 | 16.25 | 12.30 | 18.04 | 27.79 | 24.91 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 18.95% | 6.22% | 7.78% | -2.98% | 10.55% | 7.30% | 4.51% | 5.33% | 7.76% | 5.70% |
| Net Margin % | 15.35% | 2.64% | 3.29% | -6.42% | 5.79% | 3.46% | 1.72% | 2.71% | 4.39% | 3.20% |
| ROE % | 70.58% | 9.20% | 10.53% | -26.87% | 28.42% | 15.48% | 8.42% | 13.95% | 21.23% | 14.51% |
| ROCE % | 59.98% | 12.14% | 13.94% | -13.84% | 31.31% | 20.52% | 11.44% | 17.55% | 27.40% | 17.32% |
| 37.04% | 4.64% | 4.96% | -12.87% | 15.97% | 10.84% | 5.72% | 8.86% | 13.26% | 8.56% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 4 | 2 | 4 | 4 | 3 | 2 | 3 | 3 | 3 | 4 |
| Inventory Days | 26 | 21 | 21 | 20 | 24 | 26 | 32 | 30 | 26 | 26 |
| Payable Days | 19 | 13 | 13 | 11 | 10 | 8 | 9 | 14 | 20 | 21 |
| 11 | 11 | 12 | 13 | 17 | 21 | 25 | 18 | 10 | 10 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.27x | 0.36x | 0.37x | 0.67x | 0.11x | 0.02x | 0.19x | 0.12x | 0.14x | 0.29x |
| Interest Coverage (x) | 30.68x | 5.54x | 6.55x | -5.36x | 10.82x | 24.20x | 15.25x | 16.34x | 16.14x | 11.90x |
| 0.80x | 0.78x | 0.84x | 0.77x | 1.25x | 1.59x | 1.44x | 1.71x | 1.82x | 1.40x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 8.16% | 29.52% | 5.97% | 8.40% | -9.27% | 8.42% | 20.86% | 17.07% | 8.98% | 9.47% |
| Operating Profit Growth % | 149.07% | -58.93% | 32.56% | -140.00% | 447.22% | -24.98% | -25.32% | 45.85% | 62.44% | -19.07% |
| Net Profit Growth % | 317.94% | -78.45% | 32.17% | -303.66% | 188.34% | -35.24% | -39.93% | 83.78% | 76.71% | -20.26% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 83.78% | 76.71% | -20.05% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 29.35x | 18.98x | 18.12x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 3.88x | 3.69x | 2.48x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.74% | 0.65% | 0.85% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 14.13x | 10.10x | 10.22x |
Mar 2017
- EPS (₹)
- 118.58
- Book Value (₹)
- 253.29
- Dividend per Share (₹)
- 4.00
- Cash EPS (₹)
- 34.52
- Operating Margin %
- 18.95%
- Net Margin %
- 15.35%
- ROE %
- 70.58%
- ROCE %
- 59.98%
- 37.04%
- Debtor Days
- 4
- Inventory Days
- 26
- Payable Days
- 19
- 11
- Debt to Equity (x)
- 0.27x
- Interest Coverage (x)
- 30.68x
- 0.80x
- Revenue Growth %
- 8.16%
- Operating Profit Growth %
- 149.07%
- Net Profit Growth %
- 317.94%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 13.53
- Book Value (₹)
- 166.92
- Dividend per Share (₹)
- 2.00
- Cash EPS (₹)
- 10.98
- Operating Margin %
- 6.22%
- Net Margin %
- 2.64%
- ROE %
- 9.20%
- ROCE %
- 12.14%
- 4.64%
- Debtor Days
- 2
- Inventory Days
- 21
- Payable Days
- 13
- 11
- Debt to Equity (x)
- 0.36x
- Interest Coverage (x)
- 5.54x
- 0.78x
- Revenue Growth %
- 29.52%
- Operating Profit Growth %
- -58.93%
- Net Profit Growth %
- -78.45%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 17.55
- Book Value (₹)
- 172.29
- Dividend per Share (₹)
- 2.00
- Cash EPS (₹)
- 13.94
- Operating Margin %
- 7.78%
- Net Margin %
- 3.29%
- ROE %
- 10.53%
- ROCE %
- 13.94%
- 4.96%
- Debtor Days
- 4
- Inventory Days
- 21
- Payable Days
- 13
- 12
- Debt to Equity (x)
- 0.37x
- Interest Coverage (x)
- 6.55x
- 0.84x
- Revenue Growth %
- 5.97%
- Operating Profit Growth %
- 32.56%
- Net Profit Growth %
- 32.17%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- -34.55
- Book Value (₹)
- 98.37
- Dividend per Share (₹)
- 2.50
- Cash EPS (₹)
- -12.96
- Operating Margin %
- -2.98%
- Net Margin %
- -6.42%
- ROE %
- -26.87%
- ROCE %
- -13.84%
- -12.87%
- Debtor Days
- 4
- Inventory Days
- 20
- Payable Days
- 11
- 13
- Debt to Equity (x)
- 0.67x
- Interest Coverage (x)
- -5.36x
- 0.77x
- Revenue Growth %
- 8.40%
- Operating Profit Growth %
- -140.00%
- Net Profit Growth %
- -303.66%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 32.32
- Book Value (₹)
- 127.73
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 21.34
- Operating Margin %
- 10.55%
- Net Margin %
- 5.79%
- ROE %
- 28.42%
- ROCE %
- 31.31%
- 15.97%
- Debtor Days
- 3
- Inventory Days
- 24
- Payable Days
- 10
- 17
- Debt to Equity (x)
- 0.11x
- Interest Coverage (x)
- 10.82x
- 1.25x
- Revenue Growth %
- -9.27%
- Operating Profit Growth %
- 447.22%
- Net Profit Growth %
- 188.34%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 20.81
- Book Value (₹)
- 141.03
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 16.25
- Operating Margin %
- 7.30%
- Net Margin %
- 3.46%
- ROE %
- 15.48%
- ROCE %
- 20.52%
- 10.84%
- Debtor Days
- 2
- Inventory Days
- 26
- Payable Days
- 8
- 21
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 24.20x
- 1.59x
- Revenue Growth %
- 8.42%
- Operating Profit Growth %
- -24.98%
- Net Profit Growth %
- -35.24%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 6.25
- Book Value (₹)
- 77.88
- Dividend per Share (₹)
- 2.50
- Cash EPS (₹)
- 12.30
- Operating Margin %
- 4.51%
- Net Margin %
- 1.72%
- ROE %
- 8.42%
- ROCE %
- 11.44%
- 5.72%
- Debtor Days
- 3
- Inventory Days
- 32
- Payable Days
- 9
- 25
- Debt to Equity (x)
- 0.19x
- Interest Coverage (x)
- 15.25x
- 1.44x
- Revenue Growth %
- 20.86%
- Operating Profit Growth %
- -25.32%
- Net Profit Growth %
- -39.93%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 11.48
- Book Value (₹)
- 86.75
- Dividend per Share (₹)
- 2.50
- Cash EPS (₹)
- 18.04
- Operating Margin %
- 5.33%
- Net Margin %
- 2.71%
- ROE %
- 13.95%
- ROCE %
- 17.55%
- 8.86%
- Debtor Days
- 3
- Inventory Days
- 30
- Payable Days
- 14
- 18
- Debt to Equity (x)
- 0.12x
- Interest Coverage (x)
- 16.34x
- 1.71x
- Revenue Growth %
- 17.07%
- Operating Profit Growth %
- 45.85%
- Net Profit Growth %
- 83.78%
- 83.78%
- P/E (x)
- 29.35x
- P/B (x)
- 3.88x
- Dividend Yield %
- 0.74%
- 14.13x
Mar 2025
- EPS (₹)
- 20.29
- Book Value (₹)
- 104.40
- Dividend per Share (₹)
- 2.50
- Cash EPS (₹)
- 27.79
- Operating Margin %
- 7.76%
- Net Margin %
- 4.39%
- ROE %
- 21.23%
- ROCE %
- 27.40%
- 13.26%
- Debtor Days
- 3
- Inventory Days
- 26
- Payable Days
- 20
- 10
- Debt to Equity (x)
- 0.14x
- Interest Coverage (x)
- 16.14x
- 1.82x
- Revenue Growth %
- 8.98%
- Operating Profit Growth %
- 62.44%
- Net Profit Growth %
- 76.71%
- 76.71%
- P/E (x)
- 18.98x
- P/B (x)
- 3.69x
- Dividend Yield %
- 0.65%
- 10.10x
Mar 2026
- EPS (₹)
- 16.22
- Book Value (₹)
- 118.55
- Dividend per Share (₹)
- 2.50
- Cash EPS (₹)
- 24.91
- Operating Margin %
- 5.70%
- Net Margin %
- 3.20%
- ROE %
- 14.51%
- ROCE %
- 17.32%
- 8.56%
- Debtor Days
- 4
- Inventory Days
- 26
- Payable Days
- 21
- 10
- Debt to Equity (x)
- 0.29x
- Interest Coverage (x)
- 11.90x
- 1.40x
- Revenue Growth %
- 9.47%
- Operating Profit Growth %
- -19.07%
- Net Profit Growth %
- -20.26%
- -20.05%
- P/E (x)
- 18.12x
- P/B (x)
- 2.48x
- Dividend Yield %
- 0.85%
- 10.22x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-17 - Heritage Foods Limited has informed the Exchange about Schedule of meet
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-17 - Heritage Foods Limited has informed the Exchange about Schedule of meet
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Jul 2026
May 2026
Jan 2026