Parag Milk Foods
- Market cap
- ₹ 3,017 Cr.
- P/E
- 22.3x
- P/B
- 2.47x
- 52-week range
- 177.84 – 376.95
- ROE
- 12%
- ROCE
- 14%
- Dividend yield
- 0.4%
- Debt / equity
- 0.48
- Sector
- Food Products
- Industry
- Dairy Products
- Listed on
- NSE, BSE
About
Parag Milk Foods Limited is an India-based dairy fast-moving consumer goods (FMCG) company. The Company is engaged in the business of procurement of cow milk mainly in the western and southern regions. It undertakes the processing of milk and the manufacture of various products, namely cheese, butter, ghee, milk powder, flavored milk, lassi, curd, and others. Its brands include Gowardhan, under which it offers ghee, milk, paneer, dahi, curd, butter, dairy whitener and gulab jamun mix; Go, under which it offers processed and natural cheeses, cheese spreads, beverages, and other dairy delights; Pride of Cows, under which ghee, paneer, and curd are sold; Topp Up, which is a flavored milk with extra proteins, and Avvatar, which is a nutrition brand, offers vegetarian whey protein. Its manufacturing facilities are located at Maharashtra, Andhra Pradesh, and Haryana. Its subsidiary is Bhagyalaxmi Dairy Farms Private Limited.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Dairy Products: 15 companies →Parag Milk Foods against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)22.3 against a typical 25: cheaper than most peers (1st = cheapest).5th of 14
- Sales growth+10.9% against a typical +17% from a year earlier.10th of 14
- Profit growth−21.4% against a typical +15% from a year earlier.8th of 11
- Share price, 3 months+10.1% against a typical +5%.5th of 12
- Size₹ 3,016.5 Cr. market value against a typical ₹ 822.6 Cr. (1st = largest).7th of 15
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Moderate safety, with caution
Rated BBB- by ICRA- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| India Ratings | Withdrawn | Stable | 7 May 2026 |
| ICRA | [ICRA]BBB- Rating Watch with Developing Implications | — | 8 Aug 2025 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 7 May 2026 | Withdrawn | was IND BBB+ | — | India Ratings | ₹ 681 Cr. | |
| 8 Aug 2025 | Rating action | [ICRA]BBB- Rating Watch with Developing Implications | — | ICRA | ₹ 150 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 6 Aug 2026 | Financial Results | PARAG MILK FOODS LIMITED has informed the Exchange about Board Meeting to be held on August 6, 2026 to consider and approve the Unaudited Financial results of the Company for the quarter ended June 30, 2026 and update on Closure of Trading Window. |
| 7 May 2026 | Financial Results/Dividend | Board Meeting Intimation for Approval of Financial Results for Quarter and Financial Year ended March 31, 2026 and Recommendation of Dividend |
| 4 Feb 2026 | Financial Results | PARAG MILK FOODS LIMITED has informed the Exchange about Board Meeting to be held on 4-Feb-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the quarter and nine months ended December 31, 2025 |
| 11 Nov 2025 | Financial Results | To consider and approve the financial results for the quarter and half year ended September 30, 2025 |
| 21 Jul 2025 | Financial Results | PARAG MILK FOODS LIMITED has informed the Exchange about Board Meeting to be held on Monday, July 21, 2025, inter-alia, to consider and approve the Unaudited Standalone and Consolidated Financial Results of the Company for quarter ended June 30, 2025 |
| 2 May 2025 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2025 and dividend |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 798 | 801 | 790 | 758 | 871 | 885 | 918 | 852 | 1,008 | 1,013 | 945 | 945 |
| Expenses | 743 | 736 | 753 | 702 | 802 | 811 | 856 | 794 | 937 | 944 | 886 | 876 |
| Operating Profit | 56 | 65 | 37 | 56 | 69 | 74 | 62 | 58 | 71 | 68 | 59 | 68 |
| OPM % | 7% | 8% | 4.7% | 7% | 8% | 8% | 7% | 7% | 7% | 7% | 6% | 7% |
| Other Income | 6 | 6 | 8 | 6 | 7 | 5 | 13 | 8 | 18 | 3 | 19 | 1 |
| Interest | 21 | 22 | 16 | 19 | 23 | 26 | 25 | 20 | 20 | 21 | 21 | 22 |
| Depreciation | 15 | 15 | 15 | 16 | 18 | 16 | 17 | 16 | 19 | 18 | 18 | 18 |
| Profit before tax | 24 | 33 | 14 | 27 | 36 | 38 | 33 | 29 | 50 | 33 | 40 | 29 |
| Tax % | −3% | −4% | 27% | −2% | 18% | 4% | 19% | 5% | 10% | 9% | 20% | 25% |
| Net Profit | 25 | 34 | 10 | 27 | 29 | 36 | 26 | 28 | 46 | 30 | 32 | 22 |
| EPS in Rs | 2.15 | 2.91 | 0.82 | 2.29 | 2.45 | 3.02 | 2.2 | 2.31 | 3.65 | 2.36 | 2.58 | 1.76 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 9%
- 5 Years
- 16%
- 3 Years
- 10%
- TTM
- 11%
- 10 Years
- 11%
- 5 Years
- 45%
- 3 Years
- 38%
- TTM
- 13%
- 10 Years
- −3%
- 5 Years
- 14%
- 3 Years
- 9%
- TTM
- —
- 10 Years
- 2%
- 5 Years
- −3%
- 3 Years
- 12%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Parag Milk Foods | ₹ 238.50 | ₹ 3,017 Cr. | 22.3x | 2.5x | 12% | — |
| Nestle India | ₹ 1,173.45 | ₹ 2,26,278 Cr. | 80.4x | 53.4x | 76.3% | 15.1% |
| Britannia Industries | ₹ 4,547.80 | ₹ 1,09,542 Cr. | 51.5x | 25.5x | 53.6% | 13.3% |
| Tata Consumer Products | ₹ 960.00 | ₹ 95,010 Cr. | 67.4x | 4.9x | 7.4% | 8.1% |
| Godrej Industries | ₹ 918.00 | ₹ 30,884 Cr. | 34.9x | 4x | 11.6% | 10.9% |
| Patanjali Foods | ₹ 351.00 | ₹ 38,193 Cr. | 18.9x | 2.8x | 14.8% | 4.5% |
Management
- Devendra Prakash Shah
- Executive Chairman of the Board, Whole Time Director
- Pritam Prakash Shah
- Interim Chief Financial Officer, Managing Director, Executive Director
- Rahul Kumar Srivastava
- Chief Operating Officer
- Virendra Varma
- Compliance Officer, Company Secretary
- Akshali Devendra Shah
- Executive Director
- Ajay Singh Bhadoria
- Head - Business, Fresh Division
- Satya Dash
- Head - IT
- Vami Doshi
- Head - Business Finance
Prices are delayed and for information only. Nothing on this page is investment advice.