Financials & Economic Updates

During the quarter, Heritage strengthened its milk procurement network through a farmer-first approach.

Free cash flow generation amounted to €0.9bn in H1 2026.

The company stated that milk procurement prices continued to rise faster than realization prices, keeping gross margins under pressure.

The net result was US$157.5 million (138 million euros).

Bemul also achieved its highest-ever milk procurement levels during the year, indicating increasing farmer participation and sustained growth in dairy activities across Belagavi district.