NSE: HERITGFOOD | BSE: 519552

Mid-range Performer

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446.00 0.30 (0.07%)

26.67% Gain from 52W Low

55,529 NSE+BSE Volume

NSE 30 Dec, 2025 11:25 AM (IST)

4,138.7

Market Cap

High in industry

Beta 1Year

Very High Volatility

Heritage Foods Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for HERITGFOOD, BSE:519552 Heritage Foods Ltd.

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Heritage Foods Ltd.

03 Dec 2025

446.00

0.07%

Beyond the dairy aisles – structuring for broader FMCG growth

Hold: Heritage Foods Ltd.

ICICI Direct

Heritage Foods Ltd (Heritage) aims to become a full-fledged FMCG player, rather than just a dairy company – the key inference from its recently held investor meet.

Heritage Foods Ltd. is trading below all available SMAs

Heritage Foods Ltd.

03 Dec 2025

446.00

0.07%

Beyond the dairy aisles – structuring for broader FMCG growth

Hold: Heritage Foods Ltd.

Target

ICICI Securities Limited

Heritage Foods Ltd (Heritage) aims to become a full-fledged FMCG player, rather than just a dairy company – the key inference from its recently held investor meet.

Number of FII/FPI investors decreased from 117 to 106 in Sep 2025 qtr

Heritage Foods Ltd.

20 Jul 2025

446.00

0.07%

VAP sales hit by early monsoon; long-term drivers remain intact

Hold: Heritage Foods Ltd.

Recommendation Target

ICICI Securities Limited

In spite of unseasonal rains, the company reported strong revenue growth of 10.1% YoY. EBITDA margin contracted to 6.5% in Q1FY26 vs 9.1% YoY due to revenue mix change partially led by early monsoon.

Heritage Foods Ltd. has an average target of 475.00 from 2 brokers.

Heritage Foods Ltd.

19 Oct 2023

446.00

0.07%

i-Opener

Buy: Heritage Foods Ltd.

ICICI Securities Limited

Wipro’s IT Services revenue dipped 2.3% QoQ USD in Q2FY24. The slip was much steeper than our/consensus’ expectations of -0.5%. Revenue growth came in at the lower-end of Wipro’s guidance for Q2FY24.

Number of FII/FPI investors decreased from 117 to 106 in Sep 2025 qtr

Heritage Foods Ltd.

01 Aug 2023

446.00

0.07%

Muted volumes; margin expands with correction in input prices

Buy: Heritage Foods Ltd.

Target

ICICI Securities Limited

While Heritage reported YoY EBITDA margin expansion of 145bps, we note its EBITDA margin contracted sequentially. It indicates the impact of inflation in milk prices continued to impact Q1FY24 QoQ. However, we model milk prices to deflate in rest of FY24 with normal monsoon and commencement of flush season in Q3FY24.

Heritage Foods Ltd. is trading below all available SMAs

Heritage Foods Ltd.

26 May 2023

446.00

0.07%

Cyclical recovery commences; We model improvement in profitability in FY24

Buy: Heritage Foods Ltd.

Target

ICICI Securities Limited

Heritage reported EBITDA margin expansion of 60bps led by lower other expenditure (lower ad-spend in our view) and operating leverage. We model EBITDA margin recovery to continue even in FY24 with likely correction in milk procurement prices.

Number of FII/FPI investors decreased from 117 to 106 in Sep 2025 qtr

Heritage Foods Ltd.

23 Jan 2023

446.00

0.07%

Weak flush season impacts margins; Model recovery in FY24

Buy: Heritage Foods Ltd.

Target

ICICI Securities Limited

Milk procurement prices continue to remain high due to (1) steep increase in RM prices, (2) higher SMP prices and (3) muted flush season. We note delayed price hikes had impacted margins in H1FY23 and similar story continues in H2FY23. Heritage is likely to report lowest EBITDA margin of 4.5% in FY23 in past eight years in our view. We model the margins to recover only in FY24.

Heritage Foods Ltd. is trading below all available SMAs

Heritage Foods Ltd.

19 Oct 2022

446.00

0.07%

Revenue growth remains strong; margin recovers sequentially

Buy: Heritage Foods Ltd.

Target

ICICI Securities Limited

While 19% increase in milk procurement prices impacted EBITDA margin.

Number of FII/FPI investors decreased from 117 to 106 in Sep 2025 qtr

Heritage Foods Ltd.

31 May 2022

446.00

0.07%

EBITDA margin impacted by rising milk procurement prices

Buy: Heritage Foods Ltd.

ICICI Securities Limited

Takeaways from Q4FY22 and the company's management call: (1) Revenue grew 12.4% YoY driven by strong volume growth in dairy segment, (2) gross margin declined 304bps YoY due to higher milk procurement prices but limited price hikes, and (3) steady launch of new products continued during the quarter. Steady value migration from co-operatives and unorganized players to private players is likely to benefit Heritage.