NSE: HERITGFOOD | BSE: 519552

Mid-range Performer

Download real time

330.45 -4.90 (-1.46%)

High vol. this week

NSE 15 May, 2026 3:31 PM (IST)

3,066.4

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.

Search Inside the pdf :

Heritage Foods Ltd.

12 May 2026

330.45

-1.46%

Milk inflation remains the key overhang on margins

Hold: Heritage Foods Ltd.

Target

ICICI Securities Limited

The dairy industry continued to witness severe milk shortage and a weak flush season during FY26, resulting in sharp inflation in procurement prices. Despite this, Heritage Foods (Heritage) reported resilient Q4FY26 revenue growth of 10.4% YoY.

Heritage Foods has lost -31.30% in the last 6 Months

Heritage Foods Ltd.

03 Dec 2025

330.45

-1.46%

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. average weekly volume is high.

Heritage Foods Ltd.

03 Dec 2025

330.45

-1.46%

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.

Heritage Foods has lost -31.30% in the last 6 Months

Heritage Foods Ltd.

20 Jul 2025

330.45

-1.46%

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 430.00 from 2 brokers.

Heritage Foods Ltd.

19 Oct 2023

330.45

-1.46%

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 100 to 73 in Mar 2026 qtr

Heritage Foods Ltd.

01 Aug 2023

330.45

-1.46%

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.

ICICI Securities Limited decreased Hold price target of Heritage Foods Ltd. to 385.0 on 12 May, 2026.

Heritage Foods Ltd.

26 May 2023

330.45

-1.46%

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 100 to 73 in Mar 2026 qtr

Heritage Foods Ltd.

23 Jan 2023

330.45

-1.46%

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.

ICICI Securities Limited decreased Hold price target of Heritage Foods Ltd. to 385.0 on 12 May, 2026.

Heritage Foods Ltd.

19 Oct 2022

330.45

-1.46%

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 100 to 73 in Mar 2026 qtr

Heritage Foods Ltd.

31 May 2022

330.45

-1.46%

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.

Heritage Foods Ltd. is trading below all available SMAs

Is Heritage Foods Ltd. worth buying?

234 Votes:

Buy 79.06%

Sell 11.97%

Hold 8.97%

RESEARCH REPORTS

Hold SEE REPORTS >

pdf

Hold SEE REPORTS >

pdf