Packaged Foods company Parag Milk Foods announced Q1FY26 results Revenue Rs 852 crore; 5% Volume growth and 12% Value Growth. Gross Profit Margin (GPM) 27.4%; vs 27.5% Q1FY25. EBITDA Rs 66 crore with a 6% growth; EBITDA Margin 7.7% vs 8.1% Q1FY25. Profit Before Tax (PBT) Rs 29 crore; 9% YoY growth. Profit After Tax (PAT) Rs 28 crore; 1% YoY growth. Devendra Shah, Chairman, PMFL said: “Q1FY26 has set a promising tone for PMFL as we begin the new financial year. Delivering our highest-ever first-quarter revenue reflects our strategic focus and disciplined execution. Our value-added product portfolio and purpose-led marketing are deepening consumer trust and supporting long-term value creation. At the core of our success lies a deep commitment to backward and forward integration. Our strong relationships with farmers empower us to maintain timely procurement and high quality of milk. We have handled an average of ~16.5 lakh liter of milk per day during Q1 which is 10% higher over the immediate last quarter. Our brands are not only rooted in tradition — celebrating the authenticity of Indian dairy — but are also evolving to meet the aspirations of health-conscious households. We continue to deliver nutrition-rich, trustworthy products across the globe. As the festive season approaches, we are energized by the growing momentum. Festivities in India are deeply cultural and emotionally rooted — and so are we. Our growing portfolio of value-added products, including traditional sweets, ghee, and cheese, is well-positioned to meet the festive demand, powered by consumer trust and brand love.” Result PDF
Packaged Foods company Parag Milk Foods announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Revenue Rs 918; 13% Volume growth and 16% Value Growth. Gross Profit Margin (GPM) 25.1%; YoY decrease by 10 bps. EBITDA Rs 75 crore with a 69% growth; EBITDA Margin 8.2% vs 5.6% LY. Profit Before Tax (PBT) Rs 33 crore; 141% YoY growth. Profit After Tax (PAT) Rs 26 crore; 167% YoY growth. FY25 Financial Highlights: Revenue Rs 3432 crore; 10% Volume growth and 9% Value Growth. Gross Profit Margin (GPM) 25.8%; margin expansion of 130 bps. EBITDA Rs 293 crore with a 30% Growth; EBITDA Margin 8.5% vs 7.2% LY. Profit Before Tax (PBT) Rs 133 crore; 54% YoY growth. Profit After Tax (PAT) Rs 119 crore; 31% YoY growth. Cash Flow from Operations generated Rs 212 crore. Devendra Shah, Chairman, Parag Milk Foods, said: “Our performance in FY25 marks a pivotal milestone in Parag Milk Foods’ journey towards building a future-ready, sustainable, and profitable business. Delivering the highest-ever revenues back-to-back in multiple quarters, coupled with strong operating cash flows and improved profitability, is a result of our disciplined execution and long-term vision. We have stayed committed to innovation, brand building, and operational excellence, while ensuring agility in a dynamic environment. Our investments in expanding distribution, product diversification, and impact-led marketing are not just building brand equity but creating enduring value. We have strengthened governance by adopting leading best practises together with excellence in business processes to transform the organisation from promoter driven to professional management. As we move ahead, our focus remains on strengthening our leadership in the dairy valueadded space, deepening consumer trust, and delivering consistent, profitable growth in a responsible and sustainable manner.” Result PDF
Packaged Foods company Parag Milk Foods announced Q3FY25 results Revenue Rs 885 crore; 11% Volume growth and 10% Value Growth. Gross Profit Margin (GPM) 27%; YoY stable. EBITDA Rs 79 crore with 13% growth; EBITDA Margin 9.0% vs 8.8% Q3FY24. Profit Before Tax (PBT) Rs 38 crore; 15% YoY growth. Profit After Tax (PAT) Rs 36 crore; 6% YoY. Devendra Shah, said: “India’s dairy industry continues to evolve, driven by rising consumer demand for high-quality and value-added products. At Parag, we are not only leading this transformation, but also redefining ourselves as a global nutrition provider. Our highest-ever delivery in Q3 leveraging strong festive demand is a testimonial to the increasing preference for premium dairy offerings and our ability to meet evolving consumer needs. We aspire to bring the goodness of dairy to a wider audience worldwide and remain committed to innovation & quality. Looking ahead, the interplay of rising disposable incomes, urbanization, and health-conscious consumption will continue to shape the dairy landscape. As an industry leader, we are focused on strengthening our supply chain, expanding our reach through new-age distribution channels, and driving product innovation to offer superior nutrition solutions. We continue to remain focussed on sustainable growth and long-term value creation.” Result PDF
Packaged Foods company Parag Milk Foods announced H1FY25 & Q2FY25 results Q2FY25 Financial Highlights: Revenue Rs 871 crore; 10% Volume growth and 9% Value Growth. Gross Profit Margin (GPM) 23.0%; YoY stable. EBITDA Rs 76 crore with 25% growth; EBITDA Margin 8.8% vs 7.7% LY. Profit Before Tax (PBT) Rs 36 crore; 46% YoY growth. Profit After Tax (PAT) Rs 29 crore; 16% YoY growth. H1FY25 Financial Highlights: Revenue Rs 1629 crore; 11% Volume growth and 5% Value Growth. Gross Profit Margin (GPM) 24.8%; margin expansion of 2.6%. EBITDA Rs 138 crore with 26% Growth; EBITDA Margin 8.4% vs 7.1% LY. Profit Before Tax (PBT) Rs 62 crore; 58% YoY growth. Profit After Tax (PAT) Rs 57 crore; 21% YoY growth. Cash Flow from Operations generated Rs 92 crore. Devendra Shah, Chairman, Parag Milk Foods, said: “As we continue to expand Parag Milk Foods' reach and impact, our focus remains steadfast on delivering topquality, innovative products that cater to evolving consumer needs. We are happy to announce that this quarter, we have achieved our highest ever sales, reaching Rs 871 crores in revenue. This is a testament to the growing trust consumers place in our brand. Our recent launch of Gowardhan sweets reinforces our commitment to purity. Made with Gowardhan Ghee and cow milk it offers an authentic and wholesome choice in a market increasingly plagued by adulteration concerns. Gowardhan Ghee continues to be a market leader with 22% share in the branded cow ghee segment. Similarly, the new Go Cheese campaign showcases how our cheese varieties add delight and versatility to everyday meals. Newer business segments, Avvatar and Pride of Cows, are also gaining strong traction. It is overwhelming and delightful that our brand Gowardhan’s association with Kaun Banega Crorepati continues for the third consecutive year and our “Go” Cheese Brand enters the house of Big Boss.With a robust pipeline for new product developments, I am confident that our deep-rooted commitment to provide customer centric products will propel us towards our ambitious Rs 10,000 crore target and beyond. We have built this company on a foundation of trust and quality, and I am proud to see that legacy continue to grow" Result PDF
Packaged Foods company Parag Milk Foods announced consolidated Q1FY25 results: Financial Highlights: Revenue Rs 758 crore; growth of 1% YoY Gross profit Rs 204 crore; margin of 26.9 %; up by 550 bps YoY EBITDA Rs 61 crore; margin of 8.1%; up by 160 bps YoY Profit before tax Rs 27 crore; growth of 77% YoY Profit after tax Rs 27 crore, growth of 27% YoY Business Highlights: Robust volume growth - The business has witnessed strong double digit volume growth of 10% YoY aided by healthy volume growth in its core categories. The Ghee, Cheese and the New age businesses have witnessed volume growth of 15%, 12% and 51%YoY respectively. Improved Market share- As per the latest IMARC report 2024; the flagship brand Gowardhan Ghee commands an improved 22% market share in the branded cow ghee segment, while the brand “Go Cheese” sustained its 35% market share in the Cheese category. Soft raw material prices- The average milk prices during Q1FY25 were at Rs 31 per litre; down 16% YoY, while the company handled ~15.5 lakh liters of milk per day. Improved margins & profitability - Gross Profit Margin (GPM) expanded by 550 basis points YoY during Q1FY25 to 26.9% as against 21.4% in Q1FY24, led by benign milk prices and improved value- added product mix. Commenting on the performance, Chairman of Parag Milk Foods, Devendra Shah, said, “I am elated to share that, we have delivered double digit volume growth across our Core Categories during the quarter, reflecting our brand strength and enhanced consumer reach. Our flagship brand “Gowardhan Ghee” has witnessed 2% improvement in its market share, and now commands 22% market share in the Branded Cow Ghee segment; while the trusted “Go Cheese” brand enjoys a strong and steady market share of 35% in the Cheese market. The company has delivered a 550 bps expansion in its Gross margins and further continues to remain focused on sustainable profitable growth. The company focuses on product innovation leveraging its strong R&D; capabilities. The foray into the traditional sweets category with brand “Gowardhan” is being well received and is expected to witness a full launch during the festivities. The company continues to strengthen its building blocks and is well poised to grow exponentially towards achieving Rs 10,000 crore turnover target.” Result PDF
Packaged Foods company Parag Milk Foods announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue from Operations stood at Rs 790 crore Gross profit (GP) Rs 194 crore; with a GP margin of 24.6% EBITDA at Rs 44 crore; with an EBITDA margin of 5.6% Profit After Tax at Rs 10 crore FY24 Financial Highlights: Revenue of Rs 3,139 crore; a growth of 8.5 % YoY Gross profit (GP) Rs 749 crore; with a GP margin of 23.9 % vs FY23 GP Rs 569 crore GP margin of 19.7%. Overall GP margin expansion of 4.2% YoY. EBITDA at Rs 222 crore; with an EBITDA margin of 7.1% vs FY23 EBITDA Rs 163 crore, EBITDA margin of 5.7%. Overall EBITDA margin expansion of 1.4% YoY. Profit after tax at Rs 91 crore up from FY23 PAT Rs 53 crore, a growth of 70% YoY. Devendra Shah, Chairman, Parag Milk Foods Ltd said “It gives me an immense pleasure to state that our consolidated revenues for FY24 have crossed the milestone of Rs 3,000 crore; along with improvement in margins and profitability. The Profit after tax for the year was at Rs 91 crore, with healthy operating cash flows of Rs 99 crore. Over the last few quarters, the milk procurement prices have been benign, and now we expect an upward bias. Despite of tailwinds; we are geared up for improving our margin profile. We would continue to enhance our industry-leading R&D; capabilities and infrastructure to drive innovation and delight our consumers across the globe. Our forward integration of brand ‘Gowardhan’ into the traditional sweets category is an initiative in this direction. The initial response of the prototype is very positive and encouraging and we aim to target a bigger launch around the festivities. We are inching up on our business process transformation along with driving efficiency across the value chain. With an ensuing expansion and acceleration of the distribution footprint, we plan to incorporate a foreign wholly owned subsidiary (WOS) in Dubai, to cater the international market. With strong foundation in place, we are confident of posting industry leading growth and profitability ahead.” Result PDF
Packaged foods company Parag Milk announced Q4FY23 & FY23 results: Q4FY23: Revenue stood at Rs 8,009.6 million; a growth of 42.4% YoY EBITDA stood at Rs 464.2 million; with an EBITDA margin of 5.8% Profit after tax at Rs 223.5 million FY23: Consolidated revenue from operations stood at Rs 28,926.2 million, reporting a growth of 39.6% YoY as compared to Rs 20,717.5 million in FY22. The share of new age business is 3.3%, while liquid milk is 9.4% and value-added products are 69.3% of total revenue, and skimmed milk powder was 18% YoY. Gross profit stood at Rs 5,694.3 million EBITDA stood at Rs 1,634.9 million, while the margins stood at 5.6% Profit after tax stood at Rs 532.5 million Devendra Shah, Chairman said, “Our company has recorded a remarkable growth of ~40% YoY in FY23 to Rs 28,926.2 million, led by healthy volume growth, superior product mix, and pricing growth. Our portfolio optimization efforts coupled with strong brand equity strength and responsible pricing actions aided in offsetting the ongoing pressure from consistent inflation. We have witnessed 610 basis point (bps) margin expansions over the last three quarters. We continue to enhance our industry-leading R&D; capabilities and infrastructure to better support our innovation agenda and would continue to delight our consumers with our quality offerings. Going forward, we have embarked on an extensive distribution drive and aim to reach 13-15 lac retail touchpoints in the next three years. This distribution drive would be supported by our robust impact-led marketing and branding campaigns." Result PDF