diff --git a/actions/helm/release-chart/action.yml b/actions/helm/release-chart/action.yml
index 601706a..e925761 100644
--- a/actions/helm/release-chart/action.yml
+++ b/actions/helm/release-chart/action.yml
@@ -84,10 +84,13 @@ runs:
               // Update name for root chart
               yqUpdates[filePath].push(`.name = "${{ github.event.repository.name }}"`);
 
-              // Update version fields
-              yqUpdates[filePath].push(`.version = "${{ inputs.tag }}"`);
-              yqUpdates[filePath].push(`.appVersion = "${{ inputs.tag }}"`);
+              // Update dependencies version where repository starts with file://
+              yqUpdates[filePath].push(`(.dependencies[] | select(.repository == "file://*")).version = "${{ inputs.tag }}"`);
             }
+
+            // Update version fields
+            yqUpdates[filePath].push(`.version = "${{ inputs.tag }}"`);
+            yqUpdates[filePath].push(`.appVersion = "${{ inputs.tag }}"`);
           }
 
           // values.yml files