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

185.88

1.85%

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

185.88

1.85%

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.'s price crossed above 200Day SMA today

Parag Milk Foods Ltd.

14 May 2019

185.88

1.85%

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 21.99% in the last 1 Month

Parag Milk Foods Ltd.

14 May 2019

185.88

1.85%

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 21.99% in the last 1 Month

Parag Milk Foods Ltd.

12 Feb 2019

185.88

1.85%

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 all available SMAs

Parag Milk Foods Ltd.

04 Feb 2019

185.88

1.85%

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 all available SMAs

Parag Milk Foods Ltd.

04 Feb 2019

185.88

1.85%

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?

371 Votes:

Buy 79.78%

Sell 11.59%

Hold 8.63%

RESEARCH REPORTS

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Buy SEE REPORTS >

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