Revenue from operations increased to Rs 11,192 crore during the period under review, up 8% YoY.

EBITDA declined by 15% to Rs 629 crore in Q3 FY26 from Rs 741 crore in Q3 FY25. EBITDA margin for Q3 FY26 was 5.6% as against 7.2% in Q3 FY25.

Profit before tax stood at Rs 464 crore in Q3 FY26, down by 21% from Rs 588 crore recorded in Q3 FY25.

Brahmani Nara – Executive Director, said: “Q3 FY26 was characterised by an exceptionally tight industry supply environment, marked by milk shortages, elevated procurement costs, and heightened competitive intensity.

Despite these challenges, Heritage Foods delivered 8% topline growth, supported by strong execution, disciplined cost management, and sustained momentum in our value-added portfolio.

While procurement volumes were impacted by supply-side constraints during the flush season, sequential stabilisation and improved mix underscore our focus on disciplined procurement in a volatile input cost environment.

We remain focused on strengthening our core markets through sharper route-to-market execution, targeted brand investments, and new product interventions.

Looking ahead, the commissioning of our ice cream and flavoured milk capacities in Q4 FY26 positions us well to capture incremental demand and support VAP-led growth.”

Heritage Foods is one of India’s leading dairy companies. With operations spanning 14 states, the company offers a wide range of milk, curd, butter, paneer, and other value- added dairy products.