Heritage Foods Limited

BSE

HERITGFOOD

Stock

Yield per half year: +25.12%
Dividend yield: 0.5044%
Sector: Consumer Staples

Reporting Heritage Foods Limited

Capitalization

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Average for 5 years	CAGR 5
Capitalization, bln ₹									45.38	45.38	45.38	0.00
Revenue, bln ₹			25.15	27.24	24.73	26.79	32.41	37.92	41.32	41.32	32.63	10.81
Net profit, bln ₹	2.75	0.6277	0.8143	-1.6	1.5	0.9657	0.5798	1.07	1.88	1.88	1.20	4.62
EV, bln ₹			27.61	12.99	29.1	30.4	14.84	31.49	36.46	36.46	28.46	4.61
EBIT, bln ₹	1.09	0.9718	1.5	0.8372	2.29	1.44	0.8232			0.8232	1.38	-11.31
EBITDA, bln ₹			1.93	-0.8137	2.67	1.86	1.42			1.42	1.41	-5.95
OIBDA, bln ₹					3.47	2.35	1.66				2.49	-21.79
Book value, bln ₹			8.03	4.6	5.96	6.58	7.26	8.08	9.72	9.72	7.52	10.28
FCF, bln ₹			0.2095	0.047	0.8132	1.01	-1.44	2.63	0.3748	0.3748	0.6776	-14.35
Operating Cash Flow, bln ₹	1.15	1.21	1.48	1.17	1.74	1.48	-0.6051	3.9	2.14	2.14	1.73	4.23
Operating profit, bln ₹			1.5	0.8367	2.3	1.45	0.823	1.53	2.67	2.67	1.75	3.03
Operating expenses, bln ₹			23.65	26.41	22.43	25.34	31.58	36.39	38.65	38.65	30.88	11.50
CAPEX, bln ₹	0.9302	1.44	1.27	1.12	0.9263	0.4647	0.8335	1.27	1.76	1.76	1.05	13.70

	2019Q3	2019Q4	2020Q1	2020Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	Average for 5 quarters	CAGR 5
Revenue, bln ₹											8.18	9.24	9.79	9.41	9.48	10.33	10.2	10.34	10.46	11.37	10.54	1.94
Net profit, bln ₹											0.1794	0.1674	0.2241	0.269	0.405	0.5843	0.4863	0.4305	0.3816	0.4057	0.4577	-7.04
EV, bln ₹							30.4				14.84				31.49		58.78		36.46		34.39	3.70
EBIT, bln ₹	0.0923	0.2052	0.2009	0.4606							0.2748		0.3206								0.2924	9.33
EBITDA, bln ₹					0.575	0.4227	0.3178	0.2469	0.405	0.3374	0.4287										0.3472	6.17
Book value, bln ₹					6.35		6.58		6.72		7.26		7.42		8.08		8.91		9.72		8.28	6.01
Operating profit, bln ₹											0.2748	0.257	0.3206	0.3644	0.5901	0.7717	0.6589	0.5629	0.6812	0.5519	0.6453	-6.48
Operating expenses, bln ₹											7.9	8.98	9.46	9.05	8.89	9.55	9.54	9.78	9.78	10.82	9.89	2.53

Cash flow Cash flow quarterly Assets

Balance sheet

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Average for 5 years	CAGR 5
Cash, bln ₹			0.6335	0.5583	0.2171	0.3311	0.1634	0.7851	0.6448	0.6448	0.4283	24.32
Short-Term Investments ₹			0.0913	0.0071	0.0001	0.0107	0.0838	1.31	2.05	2.05	0.6909	628.37
Accounts Receivable ₹	0.2028	0.1814	0.4626	0.2189	0.1522	0.1848	0.2801	0.2871	0.3805	0.3805	0.2569	20.11
Total Current Assets ₹	2.07	2.54	2.75	2.69	2.59	2.91	4.53	5.25	6.85	6.85	4.43	21.47
Net assets, bln ₹	3.02	4.19	5.03	5.45	5.87	5.78	6.33			6.33	5.69	4.70
Assets, bln ₹			16.35	9.88	8.79	9.03	11.25	12.81	15.58	15.58	11.49	12.13
Short-Term Debt ₹			1.32	1.34	0.2989	0.0376	1.3	0.1768	0.2537	0.2537	0.4134	-3.23
Long-Term Debt ₹			1.65	1.72	0.3404	0.0795	0.045	0.7515	1.11	1.11	0.4653	26.67
Liabilities, bln ₹			8.2	5.26	2.82	2.45	3.99	4.73	5.86	5.86	3.97	15.75
Net debt, bln ₹			2.34	2.5	0.4222	0.1172	1.18	0.1432	0.7192	0.7192	0.5164	11.24
Debt, bln ₹				3.06	0.6393	0.1172	1.34	0.9282	1.36	1.36	0.8769	16.30
Interest Income ₹			0.0086	0.0068	0.0041	0.0067	0.0062				0.0065	-6.33
Interest Expense, bln ₹			0.2085	0.2188	0.1856	0.035	0.039	0.0847	0.1486	0.1486	0.0986	-4.35
Net interest income, bln ₹			-0.2212	-0.2345	-0.2021	-0.0497	-0.039			0.0062	-0.1493	-29.33
Cost of production, bln ₹			19.98	22.48	18.58	21.07	26.16	30.4	31.41	31.41	25.52	11.07
Inventory ₹	1.23	1.55	1.38	1.45	1.98	2.06	3.79	2.62	3.55	3.55	2.80	12.39

	2019Q3	2020Q1	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	Average for 5 quarters	CAGR 5
Cash, bln ₹			0.7067		0.3311		0.7336		0.1634		0.4201		0.7851		0.8037		0.6448		0.5634	31.59
Short-Term Investments ₹			0.775		0.0107		0.8753		0.0838		0.8025		1.31		2.97		1.94		1.42	87.46
Accounts Receivable ₹		0.2651	0.1495		0.1848		0.3803	0.3165	0.2801		0.3564		0.2871		0.4438		0.3805		0.3496	6.32
Total Current Assets ₹		2.69	3.03		2.91		3.36	4.53	4.53		3.68		5.25		6.1		6.85		5.28	8.62
Net assets, bln ₹	5.07	5.45	3.03		2.91		3.36	6.33	4.53		6.43								4.71	17.18
Assets, bln ₹			9.12		9.03		9.53		11.25		10.62		12.81		13.89		15.58		12.83	6.73
Short-Term Debt ₹			0.0772		0.0376		0.0361		1.3		0.0489		0.1768		0.1901		0.2537		0.3939	-27.88
Long-Term Debt ₹			0.2619		0.0795		0.0586		0.045		0.1874		0.7515		0.8543		1.11		0.5896	89.86
Liabilities, bln ₹			2.76		2.45		2.81		3.99		3.2		4.73		4.98		5.86		4.55	7.99
Net debt, bln ₹					0.1172				1.18		-0.1838		0.1432		0.2407		0.7192		0.4199	-9.43
Debt, bln ₹									1.34		0.2363		0.9282		1.04		1.36		0.9809	0.30
Interest Expense, bln ₹									0.0242	0.0311	0.0154	0.0179	0.0204	0.0341	0.0387	0.0398	0.0361	0.0421	0.0382	4.31
Net interest income, bln ₹			-0.0092	-0.0061	-0.0201	-0.0069	-0.0033	-0.0047	-0.0242	-0.0311	-0.0154	-0.0179							-0.0187	30.66
Cost of production, bln ₹									6.53	7.47	7.94	7.44	7.56	7.69	7.67	7.83	8.21	8.66	8.01	2.40
Inventory ₹		1.45	1.22		2.06		1.14	3.79	3.79		1.93		2.62		1.71		3.55		2.72	-1.30

Share

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Average for 5 years	CAGR 5
EPS	7.3	5.95	8.9	-34.55	-11.67	10.55	6.25	11.48	20.29	20.29	7.38	-211.70
Share price	418.9	267.55	184.59	150.1	207.48	182.05	303.7	485	489.05	489.05	333.46	18.71
Number of shares, mln			46.4	46.4	91.5	91.5	92.8	92.8	92.8	92.8	92.28	0.28
FCF/share			4.51	1.01	8.89	11.09	-15.5	28.3	4.04	4.04	7.36	-14.59

	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q3	2025Q1	2025Q2	2025Q3	Average for 5 quarters	CAGR 5
EPS	0.7952	2.08	1.5	1.93	1.8	2.42	2.9	4.36	5.24	4.11			3.81	11.17
Share price	151.9	153.23	166.78	157.84	191.08	243.66	240.04			392.35	464	487.2	365.45	14.86

	Average for 5 quarters	CAGR 5

Efficiency

IFRS

Reporting Annual Quarterly

	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	Average for 5 years	CAGR 5
ROE, %	10.15	-34.88	25.17	15.41	7.99	13.18	19.37	19.37	34.78	16.22	-5.10
ROA, %	4.98	-16.22	17.07	10.84	5.15	8.32	12.08	12.08	19.48	10.69	-6.68
ROIC, %		-19.43	28	16.16	9.44	14.4		14.4	18.55	9.71	-194.18
ROS, %	3.24	-5.88	6.06	3.61	1.79	2.81	4.56	4.56	9.32	3.77	-5.53
ROCE, %	18.42	18.13	38.34	20.05	11.34		8.47	8.47	12.89	19.27	-14.12
EBIT margin		3.07	9.25	5.39	2.54		1.99	1.99	5.93	4.45	-8.31
EBITDA margin	7.68	-2.99	10.81	6.96	4.38		3.43	3.43	14.31	4.52	-202.78
Net margin	3.24	-5.88	6.06	3.61	1.79	2.81	4.56	4.56	9.32	3.77	-5.53
Operational efficiency, %	5.96	3.07	9.3	5.41	2.54	4.04	6.47	6.47	13.06	5.55	-7.00
FCF yield, %							0.8259	0.8259	1.78	0.8259	0.00

	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	Industry average	Average for 5 quarters	CAGR 5
ROE, %	5.16		1.93		2.83		3.21		6.11		8.05		5.45		3.93			34.78	5.35	4.13
ROA, %	3.59		1.41		2		3.19		4.22		3.46		3.5		2.45			19.48	3.36	-5.14
ROS, %								1.81	2.29	2.86	4.27	5.66	4.77	4.16	3.65	3.57	4.56	9.32	4.14	-0.90
ROCE, %							3.64		3.88							10.19	8.47	12.89	6.54	23.51
EBIT margin									3.28							2.17	1.99	5.93	2.48	-15.34
EBITDA margin	8.58	6.34	4.58	3.01	4.96	4.29	5.24									3.74	3.43	14.31	4.33	-7.11
Net margin							2.19	1.81	2.29	2.86	4.27	5.66	4.77	4.16	3.65	3.57		9.32	4.36	-8.81
Operational efficiency, %								2.78	3.28	3.87	6.22	7.47	6.46	5.44	6.51	4.86	6.47	13.06	5.95	0.03

Coefficients

IFRS

Reporting Annual Quarterly

	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	Average for 5 years	CAGR 5
P/E	31.03		19.13	31.36	23.56	29.42	24.1	24.1	49.21	25.51	4.73
P/BV	3.1	2.27	4.81	4.61	1.88	3.88	4.67	4.67	11.63	3.97	-0.59
P/S	1	0.3849	1.16	1.13	0.4215	0.8267	1.1	1.1	4.81	0.9276	-1.06
P/FCF					-13.79	7.56	121.08	121.08	-43.77	38.28	-306.30
E/P					0.0292	0.0537	0.0415	0.0415	0.04	0.0415	12.43
EV/EBIT		15.51	12.42	21.06	18.03	38.25	44.3	44.3	21.78	26.81	28.96
EV/EBITDA	14.3	-15.96	10.89	16.31	10.47			10.47	45.11	7.20	-6.04
EV/S		0.4767	1.15	1.14	0.4579	0.8305	0.8824	0.8824	4.47	0.8922	-5.16
EV/FCF		276.12	34.92	29.97	-10.32	11.99	97.29	97.29	-23.92	32.77	22.74
Debt/EBITDA		-3.76	0.2392	0.0628	0.9475	0.6546	0.9619	0.9619	1.32	0.5732	32.09
Netdebt/Ebitda	1.21	-3.07	0.1579	0.0628	0.8323	0.101	0.5072	0.5072	1.17	0.3322	26.29
Debt/Ratio		0.3094	0.0728	0.013	0.1194	0.0725	0.0875	0.0875	0.13	0.0730	3.75
Debt/Equity		0.6654	0.1073	0.0178	0.1851	0.1149	0.6033	0.6033	0.56	0.2057	41.25
Debt/Net Income		-1.91	0.4264	0.1213	2.32	0.8712	0.7244	0.7244	1.48	0.8927	11.18
PEG							1.69	1.69	-11.95	1.69	0.00
Beta					-0.2351	3.7	2.6	2.6	-0.05	2.02	-322.80
Altman Index					7.12	31.98	12.16	12.16	132.31	17.09	19.53

	2021Q3	2022Q1	2022Q3	2023Q1	2023Q3	2024Q1	2024Q3	2025Q1	2025Q2	2025Q3	Industry average	Average for 5 quarters	CAGR 5
P/E	65.51	39.18	84.75	36.67	53.76	49.83	52.48	23.88			49.21	43.32	-8.22
P/BV	3.38	4.61	4	1.88	2.92	3.88	6.57	3.68			11.63	3.79	14.38
P/S	3.2	1.5	1.78	0.8302	1.21	1.63	1.99	0.8953			4.81	1.31	1.52
P/FCF									7.56	121.08	-43.77	64.32	300.20
E/P									0.0537	0.0415	0.04	0.0476	-12.09
EV/EBIT									38.25	44.3	21.78	41.27	7.62
EV/EBITDA		23.11		10.47							45.11	16.79	-32.69
EV/S						3.32	5.77	3.49	0.8305	0.8824	4.47	2.86	-23.28
EV/FCF									11.99	97.29	-23.92	54.64	184.86
Debt/EBITDA									0.6546	0.9619	1.32	0.8082	21.22
Netdebt/Ebitda		0.3686		2.75					0.101	0.5072	1.17	0.9317	8.31
Debt/Ratio				0.1194	0.0223	0.0725	0.0752	0.0875	0.0725	0.0875	0.13	0.0790	3.83
Debt/Equity				0.1851	0.0319	0.1149	0.1171	0.1403	0.5852	0.6033	0.56	0.3122	39.33
Debt/Net Income					1.05	2.29	2.15	3.57	0.8712	0.7244	1.48	1.92	-20.56
PEG									1.34	1.69	-11.95	1.52	12.30
Beta								2.5	1.73	2.6	-0.05	2.28	1.32
Altman Index								31.27	32.17	12.16	132.31	25.20	-27.01

	Industry average	Average for 5 quarters	CAGR 5

Dividends

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	Average for 5 years	CAGR 5
Dividend payout, bln	0.0696	0.0928	0.0928	0.0928	0.116	0.116	0.232	0.232		0.232		0.1578	20.11
Dividend	4	2	2	2.5	7.5	2.5	2.5	2.5	2.5	2.5		3.50	-19.73
Dividend yield, %	0.7345	0.6212	0.9487	1.65	3.69	3.65	0.9901	0.4319	0.5044	0.5044	0.57	1.85	-32.83
Dividends / profit, %	2.53	14.78	11.4	-5.79	7.74	36.04	20.01	21.77	12.32	12.32	46.32	19.58	9.74
Dividend coverage ratio					4.31	8.32	2.5	4.59	8.12	8.12	4.72	5.57	13.51

	2015Q3	2016Q3	2017Q3	2018Q3	2019Q3	2020Q3	2021Q3	2021Q4	2022Q3	2023Q3	2025Q2	2025Q3	Industry average	Average for 5 quarters	CAGR 5
Dividend	3	3	4	2	2	2.5	5	2.5	2.5	2.5				3.00	0.00
Dividend yield, %	1.48	0.8642	0.6	0.6688	1.08	1.57	2.09	1.08	1.63	1.03			0.57	1.48	-8.08
Dividend coverage ratio											4.59	8.12	4.72	6.35	33.01

	Industry average	Average for 5 quarters	CAGR 5

Pay for your subscription

More functionality and data for company and portfolio analysis is available by subscription

Subscribe

Other

IFRS

Reporting Annual

	2021	2022	2023	2024	2025	LTM	CAGR 5
CAPEX/Revenue, %	3.75	1.73	2.57	3.36	4.27	4.27	2.63
Staff, people			3 212	3 212			0.00

	CAGR 5

	CAGR 5