Parag Milk Foods Ltd Share Price – NSE  / BSE

FMCG, Small Cap

Parag Milk Foods announced that the Annual General Meeting (AGM) of the company will be held on 11 September 2024.

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Parag Milk Foods announced that the Annual General Meeting (AGM) of the company will be held on 11 September 2024.

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The company said that its business has witnessed strong double digit volume growth of 10% YoY aided by healthy volume growth in its core categories. The Ghee, Cheese and the New age businesses have witnessed volume growth of 15%, 12% and 51%YoY respectively.

As per the latest IMARC report 2024; the flagship brand Gowardhan Ghee commands an improved 22% market share in the branded cow ghee segment, while the brand “Go Cheese” sustained its 35% market share in the Cheese category.

The average milk prices during Q1 FY25 were at Rs 31 per litre; down 16% YoY, while the company handled nearly 15.5 lac liters of milk per day.

Gross Profit Margin (GPM) expanded by 550 basis points YoY during Q1 FY25 to 26.9% as against 21.4% in Q1FY24, led by benign milk prices and improved value-added product mix.

EBITDA improved by 27% in the first quarter to Rs 61 crore from Rs 48 crore recorded in the same period last year. EBITDA margin in Q1 FY25 was 8.1% as against 6.5% in Q1 FY24.

Profit before tax in Q1 FY25 stood at Rs 27 crore, up by 77% from Rs 15 crore posted in Q1 FY24.

Devendra Shah, chairman of Parag Milk Foods, said: “I am elated to share that, we have delivered double digit volume growth across our Core Categories during the quarter, reflecting our brand strength and enhanced consumer reach.

The company focuses on product innovation leveraging its strong R&D capabilities. The foray into the traditional sweets category with brand “Gowardhan” is being well received and is expected to witness a full launch during the festivities.

The company continues to strengthen its building blocks and is well poised to grow exponentially towards achieving Rs 10,000 crore turnover target.

Parag Milk Foods is a leading manufacturer and marketer of dairy-based branded products in India. The company’s manufacturing facilities are located at Manchar in Maharashtra, Palamaner in Andhra Pradesh, and Sonipat in Haryana.

The scrip shed 0.34% to currently trade at Rs 204.05 on the BSE.

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Net profit of Parag Milk Foods rose 27.51% to Rs 27.30 crore in the quarter ended June 2024 as against Rs 21.41 crore during the previous quarter ended June 2023. Sales rose 1.11% to Rs 757.93 crore in the quarter ended June 2024 as against Rs 749.59 crore during the previous quarter ended June 2023.

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