Parag Milk Foods Limited has filed its statement of no deviation or variation in fund utilization for the quarter ended December 31, 2025, confirming complete compliance with the stated objects of its preferential issue. The company submitted this statement to both BSE and NSE on February 5, 2026, pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Issue Details and Fund Structure

The company's preferential issue of convertible share warrants was conducted from May 15, 2025, to May 23, 2025, involving 90,00,000 convertible warrants priced at ₹179.10 per warrant. The total issue size amounted to ₹161.19 crores, with the company receiving 25% as upfront consideration.

Complete Fund Utilization Across Objects

The company has successfully utilized ₹40.00 crores out of the ₹40.30 crores received, with funds deployed across four designated objects as originally planned. The utilization shows complete adherence to the objects stated in the EGM notice dated April 3, 2025.

Regulatory Compliance and Monitoring

The statement was duly reviewed by the Audit Committee and Board of Directors, with India Ratings & Research Private Limited serving as the monitoring agency. The company confirmed that there was no deviation in the utilization of proceeds from the objects stated in the original EGM notice.

The filing was made in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, ensuring full regulatory compliance. The company has maintained transparency by making all relevant documents available on its website at www.paragmilkfoods.com for stakeholder reference.

Parag Milk Foods Limited has announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The Board of Directors approved these results during their meeting held on February 4, 2026, pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Standalone Financial Performance

The company demonstrated robust growth in its standalone operations during the third quarter. Revenue from operations increased significantly compared to the previous year, while maintaining healthy profit margins despite operational challenges.

EBITDA Performance Analysis

The company's EBITDA performance showed a decline during the third quarter, reflecting margin pressures despite revenue growth. EBITDA for Q3 stood at ₹68.00 crores compared to ₹73.70 crores in the corresponding quarter of the previous year, marking a year-on-year decrease.

Nine-Month Performance Overview

For the nine-month period ended December 31, 2025, Parag Milk Foods maintained strong momentum across key financial metrics. The company's revenue growth trajectory continued with substantial improvements in operational efficiency.

Consolidated Financial Results

The consolidated financial results, which include subsidiary Bhagyalaxmi Dairy Farms Private Limited, showed mixed performance with strong revenue growth offset by profit decline. The consolidated revenue from operations reached ₹1,012.69 crores for Q3FY26 compared to ₹884.72 crores in Q3FY25, representing a growth of 14.50%.

Exceptional Item Impact

The company recognized an exceptional item of ₹5.39 crores in standalone results and ₹5.72 crores in consolidated results during Q3FY26. This one-time charge relates to the implementation of new Labour Codes notified by the Government of India on November 21, 2025, which resulted in increased provision for employee benefits.

Earnings Conference Call Recording Available

Following the announcement of Q3FY26 results, Parag Milk Foods has made available the audio recording of its earnings conference call held on February 5, 2026. The call discussed the company's financial and operational performance for the quarter and nine months ended December 31, 2025, with investors and analysts.

The recording can be accessed through the company's official website at paragmilkfoods.com under the investor relations section. This initiative demonstrates the company's commitment to transparency and maintaining open communication with its stakeholders regarding financial performance and strategic developments.

Board Meeting and Regulatory Compliance

The Board meeting commenced at 6:00 PM IST and concluded at 9:10 PM IST on February 4, 2026. The directors also approved amendments to the company's policy on Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI). The financial results have been reviewed by statutory auditors Sharp & Tannan, who issued unmodified review conclusions for both standalone and consolidated results.