1. Opening Hook
The monsoon didn’t just pour — it drowned Q2 margins across the dairy sector. Butter prices acted like blue-chip stocks, milk procurement was chaos, and curd sales cooled faster than ice cream freezers. Yet, Heritage Foods showed up with a calm face and a 9% revenue rise. 🎯
Executive Director Nara Brahmani and team didn’t just talk milk — they sold “Pure Doodh ki Shakti” like it’s the next IPL franchise. The GST cut added froth, weather took it away, and somewhere in between, EBITDA managed to stay standing.
Stick around — things get creamy when we talk about ice-cream plants, robot-assisted dairies, and a management that swears by “operating leverage.” 🍦
2. At a Glance
- Revenue: ₹1,112 crore – Up 9% YoY; apparently, milk demand doesn’t melt, it just curdles differently.
- EBITDA: ₹77.2 crore – Margins softened to 6.9%; the milk was lean, but not the ambition.
- PAT: ₹51 crore – Up 5%; profits rose slower than curd sets in monsoon humidity.
- Value-Added Products (VAP): ₹413 crore – Up 18% YoY; curd, paneer, ice cream leading the cool club.
- VAP Mix: 38% of revenue – Now we’re talking FMCG, not just milk cans.
- Milk Procurement: 16.1 lakh L/day – Down 2%; monsoon cows went on strike.
- Debt/Leverage: Stable; liquidity tighter than a milk pouch seal.
- Stock Reaction: Traders quietly wished they’d switched to lactose-free optimism.
3. Management’s Key Commentary
“Quarter 2 was among the toughest in recent times.”
(Translation: The sky literally fell, and so did butter stocks. 🌧️*)
“Our value-added portfolio grew 18% year-on-year.”
(Translation: Curd saved the day again — India’s real FMCG hero.*)
“EBITDA margins dropped 122 bps due to milk cost inflation.”
(Translation:
