For 2QFY2020, Parag Milk Foods (PMFL) posted healthy numbers on top-line front, however bottom-line was below expectation. The company's revenue grew by ~12% yoy, while the operating margins contracted by 146bps yoy. On the bottom-line front, PMFL reported de-growth of ~6% yoy to `29cr on the back of poor operating performance. Outlook and Valuation: Parag

Parag Milk Foods Ltd. has an average target of 255.00 from 1 broker.

Parag Milk Foods Ltd.

07 Aug 2019

230.18

1.50%

Parag Milk Foods Ltd

Buy: Parag Milk Foods Ltd.

Target

Angel Broking

For 1QFY2019, Parag Milk Foods (PMFL) posted healthy numbers on top-line front, however bottom-line was below expectation. The company's revenue grew by ~15% yoy, while the operating margins contracted by 182bps yoy. On the bottom-line front, PMFL reported de-growth of ~3% yoy to `28cr on the back of poor operating performance. Outlook and Valuation: Parag

Parag Milk Foods Ltd. has an average target of 255.00 from 1 broker.

Parag Milk Foods Ltd.

05 Aug 2019

230.18

1.50%

Growth continues; Milk Inflation impacts operating performance

Buy: Parag Milk Foods Ltd.

Target

Motilal Oswal

Consol. net sales grew sharply at 14.6% to INR6.3b (v/s est. of INR6.5b). Skimmed milk powder (SMP) grew ~21%, followed by Milk products at ~16%, Fresh milk at ~7% and other segment by ~2% YoY. EBITDA declined 4.6% YoY to...

Parag Milk Foods Ltd. is trading below its 30 day SMA of 236.9

Parag Milk Foods Ltd.

14 May 2019

230.18

1.50%

Parag Milk Foods Ltd - Result Update Q4FY19

Buy: Parag Milk Foods Ltd.

Edelweiss

Parag Milk Foods (Parag) posted a mixed performance with strong topline but weak operating performance on account of (a) higher share of low margin SMP product.

Parag Milk Foods Ltd. has gained 59.39% in the last 6 Months

Parag Milk Foods Ltd.

14 May 2019

230.18

1.50%

Parag Milk Food

Buy: Parag Milk Foods Ltd.

SPA Research

Parag Milk Foods (PMF) reported net sales of INR 6,722mn in 4Q FY19 (29.8% jump over INR 5,178mnYoY) and a PAT of INR 313mn (20% jump over INR 262mnYoY).Revenue from Value Added Products (VAPs) rose 25% YoY to INR 4227mn.Gross margins fell236 bps YoYled by increase in contribution of Skimmed Milk Powder (SMP) by 500 bps to 19.3% as well as lag effect in passing milk price increase to consumers. In April'19 Company has taken price hike of 1%.EBITDAM (excluding...

Parag Milk Foods Ltd. has gained 59.39% in the last 6 Months

Parag Milk Foods Ltd.

12 Feb 2019

230.18

1.50%

Parag Milk Foods Ltd

Buy: Parag Milk Foods Ltd.

Target

Angel Broking

For 3QFY2019, Parag Milk Foods (PMFL) posted healthy set of numbers, exceeding our expectations on bottom-line front. The company's revenue grew by ~16% yoy, while the operating margins contracted by 97bps yoy. On the bottomline front, PMFL reported growth of ~21% yoy to `31cr on the back of lower interest cost and taxes. Outlook

Parag Milk Foods Ltd. is trading above its 200 day SMA of 197.8

Parag Milk Foods Ltd.

04 Feb 2019

230.18

1.50%

Parag Milk Foods Ltd - Result Update Q3FY19

Buy: Parag Milk Foods Ltd.

Target

Edelweiss

Parag posted a strong 15.7% revenue growth driven by enhanced volume and a robust 19% growth in the value added product portfolio.

Parag Milk Foods Ltd. is trading above its 200 day SMA of 197.8

Parag Milk Foods Ltd.

04 Feb 2019

230.18

1.50%

Marginal miss, but growth consistency now visible

Buy: Parag Milk Foods Ltd.

Recommendation Target

Motilal Oswal

4 February 2019 robust growth in milk products (+18.9% YoY). EBITDA rose 5.7% YoY to driven by an improved product mix, favorable commodity prices and export benefits. However, higher other expenses (+210bp YoY to 18% due to investments in distribution expansion and ad spends) and employee costs (+70bp YoY to 4.2%) led to a 100bp YoY contraction in the EBITDA margin to 10.3%. PAT grew 20%, 30.4% and 46.8%, respectively. EBITDA margin expanded 80bp YoY to 10.4%. (1) Volume growth for the quarter was 3% better than sales growth. (2) Guided for FY20 EBITDA margin of 11-12%, after assuming 5- 7% normal milk procurement inflation.

Parag Milk Foods Ltd. has an average target of 255.00 from 1 broker.

Is Parag Milk Foods Ltd. worth buying?

381 Votes:

Buy 79.79%

Sell 11.29%

Hold 8.92%

RESEARCH REPORTS

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Buy SEE REPORTS >

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