Parag Milk Foods Limited — Investor Meet, 11-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Parag Milk Foods reported strong Q3 FY26 revenue over INR1,000 Cr (+14% YoY, +8% volume). Core categories grew 12% by volume. New age businesses (Pride of Cows, Avvatar) crossed INR100 Cr quarterly revenue (+123% YoY), now 9% of total. Despite 20% YoY milk inflation, gross margins held at 25.9% through pricing and portfolio mix. Q3 EBITDA was 7.6%; 9M PAT grew 17%. Management expects elevated milk prices but will use pricing power, targeting new age businesses for 20% of revenue in 2-3 years. Working capital improved and gross debt reduced, showing a confident, growth-focused outlook.