Parag Milk Foods Limited — Important, 31-01-2025: Updates

**Financial Highlights:** For Q3 FY25, Parag Milk Foods reported a revenue of ₹885 cr, reflecting a 15% year-over-year increase. Gross profit jumped to ₹234 cr with gross margins slightly improved to 26.5%. EBITDA reached ₹79 cr, up 13% YoY with an EBITDA margin of 9%. Profit Before Tax (PBT) saw a 6% uplift to ₹38 cr, while Profit After Tax (PAT) increased by 11% to ₹36 cr.

**Strategic Initiatives and Growth Drivers:** The core categories demonstrated strong volume growth of 15%, propelled by rising milk prices and successful product launches including new variants under the Gowardhan brand. New Age Business, comprising brands like Avvatar and Pride of Cows, showcased an impressive 22% growth.

**Business Developments:** Parag Milk Foods launched several new products targeted at health-conscious consumers, including Gowardhan Khshiya-Dink ladoo and a recent TV campaign associated with high viewership programs like KBC, enhancing brand visibility.

**Market Position and Competitive Advantage:** The company maintains a leading share in the branded cow ghee segment (22%) and the cheese market (35%), positioning itself strongly within the dairy industry.

**Investor Implications:** The persistent growth, driven by strategic brand expansions and operational efficiencies, presents a positive outlook, bolstering investor confidence in the company's capability to continue driving revenue and profitability in the competitive dairy sector.