Heritage Foods Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: June 21, 2025, 7:00 pm

Market Cap	4,111 Cr.
Current Price	443
High / Low	659/352
Stock P/E	21.1
Book Value	105
Dividend Yield	0.56 %
ROCE	27.1 %
ROE	21.9 %
Face Value	5.00
PEG Ratio	4.53

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Heritage Foods Ltd

Competitors of Heritage Foods Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Modern Dairies Ltd	138 Cr.	53.8	76.0/44.5	5.10	15.8	0.00 %	%	%	10.0
Healthy Life Agritec Ltd	147 Cr.	59.1	97.2/29.1	45.0	13.8	0.00 %	13.2 %	10.6 %	10.0
Dodla Dairy Ltd	8,085 Cr.	1,340	1,482/962	31.1	233	0.37 %	27.3 %	20.4 %	10.0
Vadilal Industries Ltd	3,981 Cr.	5,536	7,399/3,411	26.5	967	0.03 %	25.4 %	24.3 %	10.0
Umang Dairies Ltd	194 Cr.	87.9	165/67.0	317	20.7	0.00 %	4.52 %	1.35 %	5.00
Industry Average	5,406.86 Cr	1,210.11		74.29	204.67	0.23%	18.47%	15.98%	7.29

All Competitor Stocks of Heritage Foods Ltd

Quarterly Result

Metric	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Sales	696	821	816	786	818	924	979	941	951	1,033	1,020	1,034	1,048
Expenses	666	799	779	755	778	885	933	891	882	940	938	962	970
Operating Profit	30	22	38	31	40	39	45	50	69	92	81	72	78
OPM %	4%	3%	5%	4%	5%	4%	5%	5%	7%	9%	8%	7%	7%
Other Income	2	3	3	3	3	3	2	3	5	6	7	8	-2
Interest	1	1	0	0	2	3	2	2	3	3	4	4	4
Depreciation	13	13	14	14	15	15	15	16	16	17	17	18	18
Profit before tax	18	11	26	19	26	24	31	36	55	78	67	59	54
Tax %	29%	31%	28%	28%	31%	29%	27%	25%	26%	25%	28%	27%	30%
Net Profit	12	7	19	14	18	17	22	27	40	58	49	43	38
EPS in Rs	1.37	0.78	2.05	1.48	1.93	1.80	2.41	2.90	4.36	6.30	5.24	4.64	4.11

Last Updated: May 31, 2025, 9:02 am

Below is a detailed analysis of the quarterly data for Heritage Foods Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

For Sales, as of Mar 2025, the value is 1,048.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,034.00 Cr. (Dec 2024) to 1,048.00 Cr., marking an increase of 14.00 Cr..
For Expenses, as of Mar 2025, the value is 970.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 962.00 Cr. (Dec 2024) to 970.00 Cr., marking an increase of 8.00 Cr..
For Operating Profit, as of Mar 2025, the value is 78.00 Cr.. The value appears strong and on an upward trend. It has increased from 72.00 Cr. (Dec 2024) to 78.00 Cr., marking an increase of 6.00 Cr..
For OPM %, as of Mar 2025, the value is 7.00%. The value remains steady. There is no change compared to the previous period (Dec 2024) which recorded 7.00%.
For Other Income, as of Mar 2025, the value is -2.00 Cr.. The value appears to be declining and may need further review. It has decreased from 8.00 Cr. (Dec 2024) to -2.00 Cr., marking a decrease of 10.00 Cr..
For Interest, as of Mar 2025, the value is 4.00 Cr.. The value remains steady. There is no change compared to the previous period (Dec 2024) which recorded 4.00 Cr..
For Depreciation, as of Mar 2025, the value is 18.00 Cr.. The value remains steady. There is no change compared to the previous period (Dec 2024) which recorded 18.00 Cr..
For Profit before tax, as of Mar 2025, the value is 54.00 Cr.. The value appears to be declining and may need further review. It has decreased from 59.00 Cr. (Dec 2024) to 54.00 Cr., marking a decrease of 5.00 Cr..
For Tax %, as of Mar 2025, the value is 30.00%. The value appears to be increasing, which may not be favorable. It has increased from 27.00% (Dec 2024) to 30.00%, marking an increase of 3.00%.
For Net Profit, as of Mar 2025, the value is 38.00 Cr.. The value appears to be declining and may need further review. It has decreased from 43.00 Cr. (Dec 2024) to 38.00 Cr., marking a decrease of 5.00 Cr..
For EPS in Rs, as of Mar 2025, the value is 4.11. The value appears to be declining and may need further review. It has decreased from 4.64 (Dec 2024) to 4.11, marking a decrease of 0.53.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: June 16, 2025, 5:20 pm

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	1,722	2,073	2,381	1,894	2,373	2,515	2,726	2,473	2,681	3,241	3,794	4,135
Expenses	1,625	1,989	2,248	1,761	2,628	2,458	3,108	2,212	2,495	3,109	3,590	3,811
Operating Profit	97	84	132	134	-255	57	-382	261	186	132	203	324
OPM %	6%	4%	6%	7%	-11%	2%	-14%	11%	7%	4%	5%	8%
Other Income	4	7	5	251	402	138	303	7	2	12	12	19
Interest	15	18	17	49	20	23	24	21	6	6	9	15
Depreciation	25	34	35	25	38	45	50	46	52	56	61	70
Profit before tax	61	39	86	310	90	127	-154	202	130	82	145	258
Tax %	26%	28%	36%	10%	30%	35%	10%	26%	26%	29%	27%	27%
Net Profit	45	28	55	278	63	83	-169	148	96	58	107	188
EPS in Rs	4.88	3.06	5.97	29.64	6.76	8.77	-17.27	16.16	10.41	6.25	11.48	20.29
Dividend Payout %	15%	25%	13%	3%	15%	11%	-7%	15%	24%	40%	22%	12%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-37.78%	96.43%	405.45%	-77.34%	31.75%	-303.61%	187.57%	-35.14%	-39.58%	84.48%	75.70%
Change in YoY Net Profit Growth (%)	0.00%	134.21%	309.03%	-482.79%	109.08%	-335.36%	491.19%	-222.71%	-4.45%	124.07%	-8.78%

Heritage Foods Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	7%
5 Years:	9%
3 Years:	16%
TTM:	9%

Compounded Profit Growth
10 Years:	21%
5 Years:	26%
3 Years:	25%
TTM:	91%

Stock Price CAGR
10 Years:	17%
5 Years:	27%
3 Years:	47%
1 Year:	-22%

Return on Equity
10 Years:	15%
5 Years:	17%
3 Years:	15%
Last Year:	22%

Last Updated: Unknown

Balance Sheet

Last Updated: June 16, 2025, 12:02 pm

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	23	23	23	23	23	23	23	23	23	46	46	46
Reserves	156	170	217	568	754	779	436	573	634	679	762	926
Borrowings	142	157	126	158	280	299	306	69	19	168	132	174
Other Liabilities	172	175	209	247	649	533	223	214	226	231	341	412
Total Liabilities	492	526	575	996	1,707	1,635	988	879	903	1,125	1,281	1,558
Fixed Assets	271	281	312	296	433	476	481	580	579	622	704	748
CWIP	11	9	10	8	9	42	77	18	8	20	20	68
Investments	1	1	1	478	1,002	835	152	13	18	15	140	196
Other Assets	209	235	252	214	263	282	278	267	298	469	416	547
Total Assets	492	526	575	996	1,707	1,635	988	879	903	1,125	1,281	1,558

Below is a detailed analysis of the balance sheet data for Heritage Foods Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

For Equity Capital, as of Mar 2025, the value is 46.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 46.00 Cr..
For Reserves, as of Mar 2025, the value is 926.00 Cr.. The value appears strong and on an upward trend. It has increased from 762.00 Cr. (Mar 2024) to 926.00 Cr., marking an increase of 164.00 Cr..
For Borrowings, as of Mar 2025, the value is 174.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 132.00 Cr. (Mar 2024) to 174.00 Cr., marking an increase of 42.00 Cr..
For Other Liabilities, as of Mar 2025, the value is 412.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 341.00 Cr. (Mar 2024) to 412.00 Cr., marking an increase of 71.00 Cr..
For Total Liabilities, as of Mar 2025, the value is 1,558.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1,281.00 Cr. (Mar 2024) to 1,558.00 Cr., marking an increase of 277.00 Cr..
For Fixed Assets, as of Mar 2025, the value is 748.00 Cr.. The value appears strong and on an upward trend. It has increased from 704.00 Cr. (Mar 2024) to 748.00 Cr., marking an increase of 44.00 Cr..
For CWIP, as of Mar 2025, the value is 68.00 Cr.. The value appears strong and on an upward trend. It has increased from 20.00 Cr. (Mar 2024) to 68.00 Cr., marking an increase of 48.00 Cr..
For Investments, as of Mar 2025, the value is 196.00 Cr.. The value appears strong and on an upward trend. It has increased from 140.00 Cr. (Mar 2024) to 196.00 Cr., marking an increase of 56.00 Cr..
For Other Assets, as of Mar 2025, the value is 547.00 Cr.. The value appears strong and on an upward trend. It has increased from 416.00 Cr. (Mar 2024) to 547.00 Cr., marking an increase of 131.00 Cr..
For Total Assets, as of Mar 2025, the value is 1,558.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,281.00 Cr. (Mar 2024) to 1,558.00 Cr., marking an increase of 277.00 Cr..

Notably, the Reserves (926.00 Cr.) exceed the Borrowings (174.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Month		Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Cash from Operating Activity +	75	52	125	115	121	148	117	174	148	-61	390	214
Cash from Investing Activity +	-62	-47	-66	-126	-200	-133	-97	69	-42	-83	-252	-229
Cash from Financing Activity +	-1	-8	-55	-13	55	-3	-22	-191	-93	126	-76	1
Net Cash Flow	12	-4	4	-24	-23	12	-2	51	13	-17	62	-14

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-45.00	-73.00	6.00	-24.00	-535.00	-242.00	-688.00	192.00	167.00	-36.00	71.00	150.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	3	4	4	4	3	2	6	3	2	3	3	3
Inventory Days	24	29	31	28	31	31	27	24	41	38	56	33
Days Payable	17	19	17	16	15	13	13	10	7	9	11	18
Cash Conversion Cycle	11	14	18	16	19	19	20	17	36	31	47	18
Working Capital Days	-7	-2	2	-2	-5	-6	-4	-3	9	11	29	3
ROCE %	35%	26%	17%	29%	64%	12%	14%	-14%	31%	21%	11%	16%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoters	39.43%	39.43%	39.43%	39.22%	41.57%	41.57%	41.57%	41.30%	41.30%	41.30%	41.30%	41.30%
FIIs	1.62%	2.04%	2.39%	2.06%	1.98%	2.07%	1.74%	1.73%	2.01%	3.33%	8.27%	6.65%
DIIs	15.89%	14.65%	15.56%	15.66%	15.90%	15.88%	14.48%	11.97%	11.74%	3.91%	3.89%	3.98%
Public	43.06%	43.89%	42.61%	43.06%	40.55%	40.48%	42.20%	44.99%	44.96%	51.48%	46.56%	48.08%
No. of Shareholders	37,420	39,315	39,719	40,010	43,315	42,474	52,552	57,287	56,225	1,74,849	1,37,021	1,34,476

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
DSP Small Cap Fund	4,861,036	0.92	108.98	4,861,036	2025-04-22 15:56:57	0%
Kotak Multicap Fund	3,064,055	1.08	68.7	3,064,055	2025-04-22 15:56:57	0%
Kotak Small Cap Fund - Regular Plan	1,243,134	0.23	27.87	1,243,134	2025-04-22 17:25:33	0%
UTI Value Fund	1,200,000	0.36	26.9	1,200,000	2025-04-22 15:56:57	0%
Aditya Birla Sun Life Business Cycle Fund	772,685	1.15	17.32	772,685	2025-04-22 15:56:57	0%
Bandhan Small Cap Fund	719,130	0.72	16.12	719,130	2025-04-22 17:25:33	0%
L&T Focused Equity Fund	353,000	1.12	10.64	353,000	2025-04-22 17:25:33	0%
Aditya Birla Sun Life Balanced Advantage Fund	174,250	0.06	3.91	174,250	2025-04-22 15:56:57	0%
UTI Conservative Hybrid Fund	50,000	0.07	1.12	50,000	2025-04-22 17:25:33	0%
Motilal Oswal Nifty Microcap 250 Index Fund	42,332	0.21	0.95	42,332	2025-04-22 15:56:57	0%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	5.00	5.00	5.00	5.00	5.00
Basic EPS (Rs.)	11.48	6.33	20.81	32.32	-34.55
Diluted EPS (Rs.)	11.48	6.33	20.81	32.32	-34.55
Cash EPS (Rs.)	18.74	13.22	33.26	42.40	-25.51
Book Value[Excl.RevalReserv]/Share (Rs.)	87.09	78.22	141.72	128.52	99.52
Book Value[Incl.RevalReserv]/Share (Rs.)	87.09	78.22	141.72	128.52	99.52
Revenue From Operations / Share (Rs.)	408.84	349.22	577.89	533.02	587.50
PBDIT / Share (Rs.)	23.87	16.20	43.56	58.22	-17.18
PBIT / Share (Rs.)	17.32	10.15	32.31	48.26	-27.98
PBT / Share (Rs.)	16.34	9.73	29.48	44.13	-32.86
Net Profit / Share (Rs.)	12.19	7.17	22.01	32.44	-36.32
NP After MI And SOA / Share (Rs.)	11.48	6.25	20.81	32.32	-34.55
PBDIT Margin (%)	5.83	4.63	7.53	10.92	-2.92
PBIT Margin (%)	4.23	2.90	5.59	9.05	-4.76
PBT Margin (%)	3.99	2.78	5.10	8.27	-5.59
Net Profit Margin (%)	2.98	2.05	3.80	6.08	-6.18
NP After MI And SOA Margin (%)	2.80	1.78	3.60	6.06	-5.88
Return on Networth / Equity (%)	13.18	7.98	14.68	25.16	-34.88
Return on Capital Employeed (%)	16.49	11.61	20.82	33.39	-19.42
Return On Assets (%)	8.31	5.15	10.69	17.06	-16.22
Long Term Debt / Equity (X)	0.09	0.01	0.01	0.05	0.37
Total Debt / Equity (X)	0.11	0.18	0.01	0.06	0.56
Asset Turnover Ratio (%)	3.15	3.17	2.99	2.61	2.07
Current Ratio (X)	1.71	1.44	1.59	1.25	0.84
Quick Ratio (X)	0.85	0.23	0.46	0.29	0.38
Inventory Turnover Ratio (X)	9.03	9.43	10.18	10.68	15.66
Dividend Payout Ratio (NP) (%)	21.77	20.00	36.03	7.73	-5.78
Dividend Payout Ratio (CP) (%)	13.86	10.16	23.39	5.91	-8.42
Earning Retention Ratio (%)	78.23	80.00	63.97	92.27	105.78
Cash Earning Retention Ratio (%)	86.14	89.84	76.61	94.09	108.42
Interest Coverage Ratio (X)	24.45	38.52	50.44	14.08	-3.52
Interest Coverage Ratio (Post Tax) (X)	13.48	18.04	28.87	8.89	-6.41
Enterprise Value (Cr.)	3135.76	1455.63	1459.92	1375.15	1193.54
EV / Net Operating Revenue (X)	0.82	0.44	0.54	0.55	0.43
EV / EBITDA (X)	14.16	9.68	7.22	5.09	-14.97
MarketCap / Net Operating Revenue (X)	0.82	0.41	0.55	0.55	0.36
Retention Ratios (%)	78.22	79.99	63.96	92.26	105.78
Price / BV (X)	3.87	1.85	2.26	2.29	2.15
Price / Net Operating Revenue (X)	0.82	0.41	0.55	0.55	0.36
EarningsYield	0.03	0.04	0.06	0.11	-0.16

After reviewing the key financial ratios for Heritage Foods Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 5.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 5.00.
For Basic EPS (Rs.), as of Mar 24, the value is 11.48. This value is within the healthy range. It has increased from 6.33 (Mar 23) to 11.48, marking an increase of 5.15.
For Diluted EPS (Rs.), as of Mar 24, the value is 11.48. This value is within the healthy range. It has increased from 6.33 (Mar 23) to 11.48, marking an increase of 5.15.
For Cash EPS (Rs.), as of Mar 24, the value is 18.74. This value is within the healthy range. It has increased from 13.22 (Mar 23) to 18.74, marking an increase of 5.52.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 87.09. It has increased from 78.22 (Mar 23) to 87.09, marking an increase of 8.87.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 87.09. It has increased from 78.22 (Mar 23) to 87.09, marking an increase of 8.87.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 408.84. It has increased from 349.22 (Mar 23) to 408.84, marking an increase of 59.62.
For PBDIT / Share (Rs.), as of Mar 24, the value is 23.87. This value is within the healthy range. It has increased from 16.20 (Mar 23) to 23.87, marking an increase of 7.67.
For PBIT / Share (Rs.), as of Mar 24, the value is 17.32. This value is within the healthy range. It has increased from 10.15 (Mar 23) to 17.32, marking an increase of 7.17.
For PBT / Share (Rs.), as of Mar 24, the value is 16.34. This value is within the healthy range. It has increased from 9.73 (Mar 23) to 16.34, marking an increase of 6.61.
For Net Profit / Share (Rs.), as of Mar 24, the value is 12.19. This value is within the healthy range. It has increased from 7.17 (Mar 23) to 12.19, marking an increase of 5.02.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 11.48. This value is within the healthy range. It has increased from 6.25 (Mar 23) to 11.48, marking an increase of 5.23.
For PBDIT Margin (%), as of Mar 24, the value is 5.83. This value is below the healthy minimum of 10. It has increased from 4.63 (Mar 23) to 5.83, marking an increase of 1.20.
For PBIT Margin (%), as of Mar 24, the value is 4.23. This value is below the healthy minimum of 10. It has increased from 2.90 (Mar 23) to 4.23, marking an increase of 1.33.
For PBT Margin (%), as of Mar 24, the value is 3.99. This value is below the healthy minimum of 10. It has increased from 2.78 (Mar 23) to 3.99, marking an increase of 1.21.
For Net Profit Margin (%), as of Mar 24, the value is 2.98. This value is below the healthy minimum of 5. It has increased from 2.05 (Mar 23) to 2.98, marking an increase of 0.93.
For NP After MI And SOA Margin (%), as of Mar 24, the value is 2.80. This value is below the healthy minimum of 8. It has increased from 1.78 (Mar 23) to 2.80, marking an increase of 1.02.
For Return on Networth / Equity (%), as of Mar 24, the value is 13.18. This value is below the healthy minimum of 15. It has increased from 7.98 (Mar 23) to 13.18, marking an increase of 5.20.
For Return on Capital Employeed (%), as of Mar 24, the value is 16.49. This value is within the healthy range. It has increased from 11.61 (Mar 23) to 16.49, marking an increase of 4.88.
For Return On Assets (%), as of Mar 24, the value is 8.31. This value is within the healthy range. It has increased from 5.15 (Mar 23) to 8.31, marking an increase of 3.16.
For Long Term Debt / Equity (X), as of Mar 24, the value is 0.09. This value is below the healthy minimum of 0.2. It has increased from 0.01 (Mar 23) to 0.09, marking an increase of 0.08.
For Total Debt / Equity (X), as of Mar 24, the value is 0.11. This value is within the healthy range. It has decreased from 0.18 (Mar 23) to 0.11, marking a decrease of 0.07.
For Asset Turnover Ratio (%), as of Mar 24, the value is 3.15. It has decreased from 3.17 (Mar 23) to 3.15, marking a decrease of 0.02.
For Current Ratio (X), as of Mar 24, the value is 1.71. This value is within the healthy range. It has increased from 1.44 (Mar 23) to 1.71, marking an increase of 0.27.
For Quick Ratio (X), as of Mar 24, the value is 0.85. This value is below the healthy minimum of 1. It has increased from 0.23 (Mar 23) to 0.85, marking an increase of 0.62.
For Inventory Turnover Ratio (X), as of Mar 24, the value is 9.03. This value exceeds the healthy maximum of 8. It has decreased from 9.43 (Mar 23) to 9.03, marking a decrease of 0.40.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 21.77. This value is within the healthy range. It has increased from 20.00 (Mar 23) to 21.77, marking an increase of 1.77.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 13.86. This value is below the healthy minimum of 20. It has increased from 10.16 (Mar 23) to 13.86, marking an increase of 3.70.
For Earning Retention Ratio (%), as of Mar 24, the value is 78.23. This value exceeds the healthy maximum of 70. It has decreased from 80.00 (Mar 23) to 78.23, marking a decrease of 1.77.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 86.14. This value exceeds the healthy maximum of 70. It has decreased from 89.84 (Mar 23) to 86.14, marking a decrease of 3.70.
For Interest Coverage Ratio (X), as of Mar 24, the value is 24.45. This value is within the healthy range. It has decreased from 38.52 (Mar 23) to 24.45, marking a decrease of 14.07.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 13.48. This value is within the healthy range. It has decreased from 18.04 (Mar 23) to 13.48, marking a decrease of 4.56.
For Enterprise Value (Cr.), as of Mar 24, the value is 3,135.76. It has increased from 1,455.63 (Mar 23) to 3,135.76, marking an increase of 1,680.13.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 0.82. This value is below the healthy minimum of 1. It has increased from 0.44 (Mar 23) to 0.82, marking an increase of 0.38.
For EV / EBITDA (X), as of Mar 24, the value is 14.16. This value is within the healthy range. It has increased from 9.68 (Mar 23) to 14.16, marking an increase of 4.48.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 0.82. This value is below the healthy minimum of 1. It has increased from 0.41 (Mar 23) to 0.82, marking an increase of 0.41.
For Retention Ratios (%), as of Mar 24, the value is 78.22. This value exceeds the healthy maximum of 70. It has decreased from 79.99 (Mar 23) to 78.22, marking a decrease of 1.77.
For Price / BV (X), as of Mar 24, the value is 3.87. This value exceeds the healthy maximum of 3. It has increased from 1.85 (Mar 23) to 3.87, marking an increase of 2.02.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 0.82. This value is below the healthy minimum of 1. It has increased from 0.41 (Mar 23) to 0.82, marking an increase of 0.41.
For EarningsYield, as of Mar 24, the value is 0.03. This value is below the healthy minimum of 5. It has decreased from 0.04 (Mar 23) to 0.03, marking a decrease of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Heritage Foods Ltd as of June 22, 2025 is: 390.33

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of June 22, 2025, Heritage Foods Ltd is Overvalued by 11.89% compared to the current share price 443.00

Intrinsic Value of Heritage Foods Ltd as of June 22, 2025 is: 408.51

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of June 22, 2025, Heritage Foods Ltd is Overvalued by 7.79% compared to the current share price 443.00

Last 5 Year EPS CAGR: 4.66%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 21.83%, which is a positive sign. The stock has a low average Working Capital Days of 2.08, which is a positive sign. The company has higher reserves (554.50 cr) compared to borrowings (169.17 cr), indicating strong financial stability. The company has shown consistent growth in sales (2.17 cr) and profit (114.67 cr) over the years.	The stock has a high average Cash Conversion Cycle of 22.17, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Heritage Foods Ltd:
1. Net Profit Margin: 2.98%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 16.49% (Industry Average ROCE: 18.47%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 13.18% (Industry Average ROE: 15.98%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 13.48
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 0.85
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 21.1 (Industry average Stock P/E: 74.29)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.11
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Heritage Foods Ltd. is a Public Limited Listed company incorporated on 05/06/1992 and has its registered office in the State of Telangana, India. Company's Corporate Identification Number(CIN) is L15209TG1992PLC014332 and registration number is 014332. Currently Company is involved in the business activities of Manufacture of dairy products. Company's Total Operating Revenue is Rs. 4080.48 Cr. and Equity Capital is Rs. 46.40 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Milk & Milk Products	H. No. 8-2-293/82/A/1286 , Plot No. 1286, Hyderabad Telangana 500033	hfl@heritagefoods.in http://www.heritagefoods.in

Management
Name	Position Held
Mrs. Nara Bhuvaneswari	Vice Chairperson & M.D
Mrs. Brahmani Nara	Executive Director
Dr. V Nagaraja Naidu	Non Executive Director
Mrs. Aparna Surabhi	Ind. Non-Executive Woman Director
Mr. Rajesh Thakur Ahuja	Ind. Non-Executive Director
Mr. N Sri Vishnu Raju	Ind. Non-Executive Director
Mr. M P Vijay Kumar	Ind. Non-Executive Director
Mr. A V Girija Kumar	Ind. Non-Executive Director

FAQ

What is the intrinsic value of Heritage Foods Ltd?

Heritage Foods Ltd's intrinsic value (as of 21 June 2025) is ₹390.33 — 11.89% lower the current market price of 443.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's 4,111 Cr. market cap, FY2025-2026 high/low of ₹659/352, reserves of 926 Cr, and liabilities of 1,558 Cr.

What is the Market Cap of Heritage Foods Ltd?

The Market Cap of Heritage Foods Ltd is 4,111 Cr..

What is the current Stock Price of Heritage Foods Ltd as on 21 June 2025?

The current stock price of Heritage Foods Ltd as on 21 June 2025 is 443.

What is the High / Low of Heritage Foods Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Heritage Foods Ltd stocks is ₹659/352.

What is the Stock P/E of Heritage Foods Ltd?

The Stock P/E of Heritage Foods Ltd is 21.1.

What is the Book Value of Heritage Foods Ltd?

The Book Value of Heritage Foods Ltd is 105.

What is the Dividend Yield of Heritage Foods Ltd?

The Dividend Yield of Heritage Foods Ltd is 0.56 %.

What is the ROCE of Heritage Foods Ltd?

The ROCE of Heritage Foods Ltd is 27.1 %.

What is the ROE of Heritage Foods Ltd?

The ROE of Heritage Foods Ltd is 21.9 %.

What is the Face Value of Heritage Foods Ltd?

The Face Value of Heritage Foods Ltd is 5.00.