Parag Milk Foods Limited — Updates, 30-01-2025: Press Release

**Financial Highlights:** Parag Milk Foods reported its highest-ever quarterly revenue of INR 885 Cr, reflecting a 10% year-on-year growth, supported by robust volume growth of 11%. YTD December revenue reached INR 2514 Cr, a 7% increase YoY. EBITDA for Q3 improved to INR 79 Cr, up 13% YoY, with an EBITDA margin of 9.0%. For the nine-month period, Profit Before Tax (PBT) surged 38% YoY to INR 100 Cr, while Profit After Tax (PAT) climbed 15% to INR 93 Cr.

**Strategic Initiatives and Growth Drivers:** The company continued its strategic pivot towards value-added products, enhancing its premium dairy offerings with brands like Pride of Cows, which expanded distribution across e-commerce platforms. The new D2C brand Avvatar reported remarkable growth at 69% YoY.

**Business Developments:** Parag Milk Foods bolstered its market position, with Gowardhan Ghee achieving a 22% market share in its segment and Go Cheese maintaining a 35% market share.

**Market Position and Competitive Advantage:** With a double-digit volume growth in key product categories and an improved gross profit margin of 25%, the company is increasingly positioned to capitalize on rising consumer demand for premium dairy products.

**Investor Implications:** The strong performance combined with growth in market share presents a positive outlook for investors, indicative of Parag Milk Foods’ robust brand positioning and potential for continued expansion.