Heritage Foods shares jump nearly 11% as firm slashes prices of its products; paneer price cut by ₹25 per kg

The rally in the stock was witnessed amid the company's announcement on Thursday that it would reduce prices across its product range following the government's decision to cut goods and services tax (GST) rates on dairy products.

The company said it would pass on the full benefit of the GST Council's rate rationalisation to consumers ahead of the festive season, effective September 22.

Heritage Foods has reduced the maximum retail price (MRP) of long shelf-life UHT milk by ₹3 per litre, while fresh milk prices remained unchanged, as the category is exempt from GST, the company said in a statement.

The company has also cut ghee prices by ₹50 per litre and butter by ₹50 per kilogram. Cheese prices were reduced by ₹50 per kg, while paneer was lowered by ₹25 per kg.

In the ice cream segment, the company reduced prices by ₹35 for 950 ml packs and ₹20 for 700 ml packs.

The price cuts come as India prepares for the festive season, when dairy consumption typically increases.

Heritage Foods said the "consumer-first move" would help families celebrate festivals with high-quality dairy products at more affordable prices.

About Heritage Foods

Heritage Foods Limited is a major player in the dairy and agri-products sectors. The company is one of the largest private sector players in the dairy industry in South India.

The company, established in 1992, has three main business divisions: dairy, retail and agri products. The company has a significant presence in southern states. The company has also diversified into bakery and renewable energy segments.

The company sells a wide variety of bakery and dairy products. Its dairy products range includes full cream milk, toned milk, double toned milk, cow milk, ghee, curd, paneer, fresh cream, lassi, ice cream and frozen desserts.

Heritage Foods share price performance

Shares of the company have rallied over 39% in the past six months and around 14% in the past 30 days.