Parag Milk Foods Limited — Important, 11-11-2024: General Updates

**Financial Highlights:** For Q2 FY25, Parag Milk Foods reported a revenue of INR 719 Cr, reflecting a 9.2% year-on-year growth. Gross profit stood at INR 183 Cr with a stable gross margin of 23%. EBITDA increased to INR 76.3 Cr, yielding an EBITDA margin of 8.8%, while PBT rose to INR 35.6 Cr, a 45.8% increase, and PAT reached INR 29.2 Cr, up 16% from the previous year. For H1 FY25, total revenue reached INR 1,629 Cr, marking a 5.3% growth, with PAT of INR 57 Cr, representing a 21% increase.

**Strategic Initiatives and Growth Drivers:** The company is focused on strengthening core categories and expanding its new age business segments, particularly through brands like Avvatar and Pride of Cows. Innovation and brand-building initiatives are underway to enhance market presence.

**Business Developments:** Volume growth for H1 FY25 showed robust performance with core categories up 11%. New age business segments experienced an impressive 58% growth year-on-year.

**Market Position and Competitive Advantage:** Parag Milk holds a market-leading position in several product categories, cementing its competitive advantage through strong distribution channels and a diverse product portfolio.

**Investor Implications:** With positive growth trends and strategic focuses, investors should view Parag Milk Foods as a company poised for further expansion and increased market share, presenting potential growth opportunities amidst evolving consumer demands.