Milky Mist Dairy Food Ltd introduced Milky Mist High Protein Lactose-free Milk in a 250 ml pack on October 15, 2026. The new product delivers 25g of protein per serving, addressing rising consumer demand for high-protein dietary options.

The launch is part of the company's strategy to expand its value-added protein category portfolio. It is being made available in the domestic market through select trade channels, with distribution expected to expand progressively. The product leverages ultra-filtration technology to achieve high protein content without adding external protein to existing formulations.

Product specifications and market context

The new offering is positioned for consumers seeking higher protein intake through everyday diets. Each 250 ml pack provides more than 30% of the recommended dietary allowance (RDA) for protein. The use of ultra-filtration technology differentiates it from competitors that rely on fortification, aiming to support better product quality and consumer acceptance.

Strategic expansion into high-protein segment

This launch builds on existing momentum in the company's high-protein range. Over the past couple of years, Milky Mist witnessed approximately 50% year-on-year growth in demand across products such as High Protein Paneer, Greek Yogurt and Skyr. The introduction of High Protein Lactose-free Milk strengthens its presence in this category and addresses evolving consumer preferences for nutrition and convenience.

Dr. K Rathnam, Wholetime Director and Chief Executive Officer, stated that high-protein dairy represents a significant growth opportunity. He emphasized the company's commitment to driving innovation and expanding its value-added portfolio through technology-led manufacturing capabilities at its Perundurai facility in Erode, Tamil Nadu.

What the numbers show

The company reported revenue growth at a CAGR of 31.26% between FY24 and FY26, reaching ₹3,138.36 crore in FY26. As of June 30, 2026, Milky Mist offered 22 product categories with over 640 SKUs. The company holds leading positions in specific segments: it is the largest private packaged paneer brand in India’s organised market and the largest private packaged cheese brand in South India. The launch of a high-protein variant aligns with its broader strategy to scale production in line with market demand while maintaining a diversified portfolio spanning paneer, cheese, curd, butter, ghee, yogurt, ice cream and UHT products.

Milky Mist Dairy Food Limited has issued a postal ballot notice seeking shareholder approval for six special resolutions. The proposals include the ratification of its Employee Stock Option Scheme 2025, modification of existing grant vesting schedules, amendment to Articles of Association, and approval of managerial remuneration for key executives.

The company completed its initial public offering (IPO) and listed on BSE and NSE on August 18, 2026. Consequently, SEBI Listing Regulations now apply, necessitating specific shareholder approvals for promoter remuneration and post-IPO ESOP compliance.

ESOP Ratification and Vesting Modifications

The board seeks to ratify the "Milky Mist Dairy Food - Employee Stock Option Scheme 2025" (ESOP 2025), originally approved prior to the IPO. Under Regulation 12(1) of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, fresh grants under pre-IPO schemes require post-listing ratification. The scheme allows for the creation of up to 1 crore options convertible into equity shares of face value ₹2 each.

Additionally, the company proposes modifying the vesting schedule for a grant of 16,64,836 options made on July 18, 2025. The original four-year vesting period will be reduced to two years for unvested options. The revised schedule allocates 45% of the balance options upon shareholder approval and 35% on July 21, 2027. As of the notice date, 3,32,967 options have vested, while 13,31,869 remain unvested.

Remuneration Approvals

Approval is sought for the remuneration of Mr. Sathishkumar T, Chairman and Managing Director, and Dr. K Rathnam, Whole-time Director and CEO. This is required as their annual remuneration exceeds thresholds prescribed under Regulation 17(6)(e)(i) of the SEBI Listing Regulations and Section 197 of the Companies Act, 2013.

Mr. Sathishkumar T’s proposed monthly gross remuneration is ₹65 lakh, with an additional fixed annual payment equivalent to one month’s gross remuneration. Dr. K Rathnam’s monthly gross remuneration is proposed at ₹40 lakh, effective July 1, 2026, up from ₹20.10 lakh previously. Both resolutions include provisions for minimum remuneration in case of inadequate profits.

A separate resolution seeks approval for aggregate managerial remuneration exceeding 10% of net profits, applicable to all three Executive Directors: Mr. Sathishkumar T, Ms. Anitha S, and Dr. K Rathnam.

Amendment to Articles of Association

The company proposes deleting 'Part B' of its Articles of Association. These provisions were linked to special rights under Shareholders' Agreements that automatically terminated upon the IPO listing date. With those agreements no longer in force, the associated special rights, including board nomination and transfer restrictions, are obsolete.

Voting Schedule

The remote e-voting process commenced on October 8, 2026, and will conclude on November 6, 2026. The cut-off date for determining eligible shareholders was October 2, 2026. Results will be declared on or before November 9, 2026.

What the Numbers Show

The financial disclosures accompanying the remuneration request highlight significant growth in FY26 compared to FY25. Sales (including other income) rose from ₹2,33,332.78 lakh in FY25 to ₹3,14,342.46 lakh in FY26. Net profit after tax more than doubled, increasing from ₹4,376.40 lakh to ₹12,515.19 lakh. Basic EPS improved from ₹0.69 to ₹1.96 per share. The substantial jump in net profit supports the justification for higher managerial remuneration, although the company notes that ongoing project expansion activities may impact profitability in certain periods.