Investor Presentation

Here's a concise, retail-friendly summary of the investor presentation: **1. Business Performance:** Heritage Foods braved a tough FY26 (milk shortages, inflation) to grow revenue 9.5% YoY to **₹4,526 Cr**. Q4 revenue hit **₹1,157.6 Cr** (+10.4% YoY). Value-Added Products (VAP) were strong, up 18% in Q4 to **₹395.7 Cr**, now 35.5% of revenue.

Higher costs squeezed profits: FY26 PAT **₹150.1 Cr** (-20.1% YoY) & Q4 PAT **₹23.9 Cr** (-37.3% YoY). **2. Growth Drivers & Strategy:** Focus is on VAP expansion for margin growth (targeting 40% revenue by FY28E), expanding geographical reach, and tech-driven operations (DMS, VET+ app). Procurement & distribution strengthening are crucial. **3. Recent Developments:** Commercial production began at their new 24 Mn litre annual capacity Ice Cream Plant.

Subsidiary Heritage Nutrivet saw FY26 revenues jump 32% to **₹245.4 Cr**. Organic cow milk launched in Bengaluru. **4. Key Financial Metrics:** * FY26 Revenue: **₹4,526 Cr** * FY26 PAT: **₹150.1 Cr** * Q4 Revenue: **₹1,157.6 Cr** * Q4 PAT: **₹23.9 Cr** **5. Management Outlook:** Management expects long-term growth from VAP, new capacities, and premiumization.

Strong tailwinds are anticipated for Indian dairy from urban demand, a growing middle class, and Q-commerce.