Parag Milk Foods Limited (PMFL), a leading dairy-FMCG company in India, has announced its financial results for the first quarter, demonstrating robust growth across key metrics.

Financial Highlights

PMFL achieved standalone revenue from operations of ₹898.69 crore, marking a 12% increase from ₹830.52 crore in the previous quarter. The company's profit after tax reached ₹32.43 crore, up from ₹27.05 crore in the same quarter last year. On a consolidated basis, revenue stood at ₹918.25 crore, an increase from ₹851.52 crore in the previous quarter.

Core Categories and Market Leadership

The company's core categories, including ghee, cheese, and paneer, continued to drive growth. PMFL maintained its market leadership positions:

• #1 in branded cow ghee with a 22% market share
• #2 in cheese with a 35% market share

Operational Updates

During a board meeting held on July 21, the company approved its quarterly results and made several key decisions:

1. Amended the company's insider trading policy
2. Re-appointed Deloitte Touche Tohmatsu India LLP as internal auditor for the next two financial years

Company Overview

Parag Milk Foods Limited operates primarily in the milk and milk-related products segment. The company has two subsidiaries:

1. Bhagyalaxmi Dairy Farms Private Limited
2. Parag Foods Middle East FZE

Looking Ahead

As PMFL continues to demonstrate strong financial performance and strategic growth, the company remains well-positioned in the dairy-FMCG sector. With its focus on value-added products and market leadership in key categories, Parag Milk Foods Limited is poised for continued success in the coming quarters.

Parag Milk Foods Limited (PMFL) has announced its financial results for the first quarter, showcasing strong growth and an ambitious strategy for its new age brands.

Record-Breaking Q1 Performance

The dairy FMCG company reported its highest-ever first-quarter revenue of ₹852.00 crore, marking a 12% year-on-year growth. This robust performance was driven by a 5% volume growth across its product portfolio, with core categories (ghee, cheese, and paneer) experiencing an impressive 14% value growth and 9% volume growth.

Financial Highlights

• EBITDA stood at ₹66.00 crore, with a margin of 7.7% compared to 8.1% in the previous year.
• Gross profit increased to ₹233.00 crore, maintaining a steady gross profit margin of 27.4%.
• Profit Before Tax (PBT) grew by 9% year-on-year to ₹29.00 crore.

Strategic Focus on Core and New Age Brands

Parag Milk Foods is strengthening its position in the value-added dairy FMCG segment:

• Core categories contributed 57% of total revenue.
• The company maintains market leadership with a 22% share in branded cow ghee and a 35% share in cheese.
• New age brands, including Pride of Cows and Avvatar, now constitute 9% of overall business, up from 6% last year.
• Revenue from new age businesses surged by 57% year-on-year.

Growth Strategy and Brand Building

PMFL has outlined a growth strategy focusing on expanding core categories and targeting a 39% compound annual growth rate (CAGR) in new age brands. The company plans to boost its direct-to-consumer (D2C) efforts while maintaining a focus on strong profitability.

Key initiatives include:

1. Strengthening core categories (ghee, cheese, paneer)
2. Brand building and innovation
3. Evolving route-to-market strategies
4. Strengthening new age businesses (Pride of Cows and Avvatar)
5. Driving financial growth

Market Expansion and Brand Visibility

The company has enhanced its brand visibility through various marketing initiatives:

• Partnerships with popular TV shows like Maharashtrachi Hasya Jatra and Zee Cine Awards
• Digital campaigns featuring influencers like Faye Dsouza, Jatin Sapru, and Soha Ali Khan
• Presence on quick commerce platforms to expand reach

Management Commentary

Devendra Shah, Chairman of PMFL, commented on the results: "Q1 has set a promising tone for PMFL as we begin the new financial year. Delivering our highest-ever first-quarter revenue reflects our strategic focus and disciplined execution. Our value-added product portfolio and purpose-led marketing are deepening consumer trust and supporting long-term value creation."

Looking Ahead

As the festive season approaches, Parag Milk Foods is well-positioned to meet the growing demand with its diverse portfolio of value-added products, including traditional sweets, ghee, and cheese. The company's focus on innovation, brand building, and expanding its new age businesses is expected to drive continued growth in the coming quarters.

With its strong performance in Q1 and clear strategic direction, Parag Milk Foods appears poised for sustained growth in the competitive dairy FMCG market.