Parag Milk Foods Limited — Updates, 11-11-2024: Press Release

Parag Milk Foods Ltd. reported exceptional financial results for the quarter and half-year ended September 30, 2024. The company achieved its highest ever quarterly revenue of ₹871 Cr, marking a 10% YoY volume growth. For the half-year, revenue reached ₹1629 Cr, reflecting an 11% YoY volume increase. Net Operating Cash Flow was ₹92 Cr for the first half.

Key highlights include a significant Profit Before Tax (PBT) of ₹36 Cr for Q2, a robust growth of 46% YoY, alongside a Profit After Tax (PAT) of ₹29 Cr, up 16% YoY. The Gross Profit Margin (GPM) improved, reaching 24.8% for H1, attributed to favorable milk prices and an enhanced product mix. The company also noted strong volume growth in its core segments, specifically Ghee, Cheese, and Paneer.

Strategically, Parag is advancing its market share, notably Ghee at 22% and Cheese at 35%. The brands Avvatar and Pride of Cows are gaining traction, contributing to a positive outlook as the company aims for ambitious growth targets. Investors should watch closely for the continued expansion and strong demand in the dairy segment.