Parag Milk Foods Limited — Investor Meet, 14-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Parag Milk Foods' Q4 FY26 earnings call highlighted FY26 as a pivotal year, crossing INR3,800 Cr annual revenue with double-digit growth. New Age business (Avvatar, Pride of Cows) surged 91% YoY, hitting INR100 Cr quarterly revenue, now 10% of total. Gross margins expanded to 28% in Q4 despite 15% YoY milk price inflation, driven by product mix and disciplined pricing. Q4 core category volumes saw a 3% decline due to lower institutional/export sales. Management aims for double-digit EBITDA margins and 20-25% New Age business contribution in 3-5 years, backed by distribution expansion and new products. Sentiment is confident on strategic execution and profitable growth.