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Parag Milk Foods
SectorFMCG
In the news
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The Quarter story
The two most recent quarterly results, compared side-by-side.
Core portfolio and new-age channels drive steady growth, but rising milk costs and volume slowdowns are squeezing profit margins.
Core Categories business share grows from 57% to 61% from Q1 FY26 to Q1 FY27 — core portfolio remains dominant
PAT falls from ₹46 Cr to ₹22 Cr from Q2 FY26 to Q1 FY27 — profit compression under cost pressure
New Age Business revenue climbs from ₹75 Cr to ₹118 Cr from Q1 FY26 to Q1 FY27 — direct channels gain traction
PAT margin drops from 4.5% to 2.3% from Q2 FY26 to Q1 FY27 — margin erosion despite stable sales
New Age Business revenue contribution rises from 9% to 13% from Q1 FY26 to Q1 FY27 — new channels drive portfolio weight
Average milk procurement rate climbs from ₹37 to ₹42 from Q1 FY26 to Q1 FY27 — persistent input cost inflation
Growth Factor accelerates from 8x to 37x from Q1 FY26 to Q1 FY27 — rapid expansion in new distribution models
Volume growth contracts from 14% to -3% from Q2 FY26 to Q4 FY26 — demand headwinds in core categories
Cheese market share holds steady at 35% from Q1 FY26 to Q3 FY26 — entrenched brand loyalty in premium dairy
Others segment revenue plunges from ₹86 Cr to ₹25 Cr from Q1 FY26 to Q1 FY27 — marginal segment loses relevance
Company insights, generated from the most recent coverage.
ROCE stands at 25.06% in FY25, reflecting efficient capital deployment in value-added capacity expansion.
Value-added products (ghee, cheese, paneer) contribute 64% of revenue with 18% CAGR, driving gross margin expansion of 130 bps to 25.8% in FY25.
Whey protein business (Avvatar) growing at 39% CAGR, contributing 8% of revenue with higher margins than traditional dairy.