Parag Milk Foods Limited PARAGMILK NSE

Consumer Defensive · Packaged Foods · India

https://www.paragmilkfoods.com

Parag Milk Foods Limited processes, manufactures, and sells milk and milk products in India and worldwide. The company offers ghee, milk, paneer, sweets, curd, butter, dairy whitener, milk powder, and gulab jamun mix products. It also offers flavoured cheese wedges, spreads, slices, and angles, as well as flavored yoghurt, bocconcini, slim milk, fresh cream, buttermilk, double toned milk, lassi, flavoured milk, milk shakes, beverages, UHT milk, and other dairy products. In addition, the company provides sports nutrition products, whey protein, protein bar, sesame and groundnut chikki, and lactose related products. Further, it sells its products under the Gowardhan, Go, Topp Up, Pride of Cows, and Avvatar brand names. Parag Milk Foods Limited was incorporated in 1992 and is headquartered in Pune, India.

Market & Price

Market Cap

₹2,801.30 Cr

Current Price

₹222.31

High / Low (52W)

₹371.60 / ₹179.86

Beta

0.56

Valuation

Stock P/E

21.05

Industry PE

23.47

Forward P/E

13.98

PEG Ratio

Book Value

₹100.97

Price to Book

2.20

P/S

0.73

EV/EBITDA

10.85

Dividend Yield

0.45%

Profitability & Returns

ROCE

15.55%

ROE

11.84%

ROA

6.94%

Profit Margin

3.54%

Op Margin

6.42%

EPS (Latest Qtr)

₹2.52

EPS (TTM)

₹10.56

Balance Sheet & Liquidity

Debt/Equity

0.48

Quick Ratio

0.41

Current Ratio

1.71

Debt

₹607.40 Cr

Total Assets

₹2,280.63 Cr

Current Assets

₹1,331.19 Cr

Working Capital

₹554.25 Cr

Ownership

Promoter Holding

54.30%

Chg in Prom Hold

FII / Inst Holding

5.48%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹3,367.14 Cr

Total Revenue (TTM)

₹3,817.50 Cr

EBITDA

₹310.24 Cr

Free Cash Flow

₹130.83 Cr

Operating Cash Flow

₹149.48 Cr

Shares Outstanding

₹12.60 Cr

Gross Margin

26.71%

Payout Ratio

9.46%

Growth (CAGR)

Revenue 5Y

10.18%

Profit 5Y

36.37%

Revenue (YoY)

3.00%

Earnings (YoY)

19.90%

PROS

Compounding revenue at 10.2% over 5 years.
Profit CAGR of 36.4% over 5 years.
Generates positive free cash flow.

CONS

Trading 40.2% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Consumer Defensive).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	PARAGMILK Parag Milk Foods Limited NSE	222.31	21.05	₹2,801.30 Cr	0.45%	15.55%	11.84%	10.18%	36.37%
2	HINDUNILVR Hindustan Unilever Limited NIFTY50NSE	2,153.50	47.62	₹5.06 L Cr	2.04%	22.15%	21.60%	2.31%	14.12%
3	ITC ITC Limited NIFTY50NSE	286.90	17.39	₹3.59 L Cr	5.58%	36.47%	29.34%	3.65%	2.54%
4	NESTLEIND Nestlé India Limited NIFTY50NSE	1,421.50	78.10	₹2.74 L Cr	0.84%	59.30%	76.34%	17.01%	23.05%
5	DMART Avenue Supermarts Limited NSE	4,054.50	88.49	₹2.64 L Cr	-	16.41%	12.94%	17.21%	7.69%
6	VBL Varun Beverages Limited NSE	528.00	56.17	₹1.79 L Cr	0.38%	19.44%	-	17.26%	26.57%
7	TATACONSUM Tata Consumer Products Limited NIFTY50NSE	1,178.40	75.78	₹1.17 L Cr	0.85%	8.29%	6.94%	13.87%	8.61%
8	MARICO Marico Limited NIFTY_MIDNSE	821.70	60.60	₹1.06 L Cr	0.49%	39.00%	41.39%	12.00%	10.61%
9	GODREJCP Godrej Consumer Products Limited NSE	1,029.30	56.49	₹1.05 L Cr	1.94%	21.44%	15.10%	4.59%	3.02%

Quarterly Results

Figures in INR.

Metric	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	918.25 Cr	851.52 Cr	1,007.95 Cr	1,012.69 Cr	945.34 Cr
Cost of Revenue	672.73 Cr	618.58 Cr	747.65 Cr	750.62 Cr	680.80 Cr
Gross Profit	245.52 Cr	232.94 Cr	260.30 Cr	262.07 Cr	264.54 Cr
Operating Expenses	200.90 Cr	191.38 Cr	207.81 Cr	211.91 Cr	222.72 Cr
Operating Income	44.62 Cr	41.56 Cr	52.49 Cr	50.16 Cr	41.82 Cr
EBITDA	75.09 Cr	65.52 Cr	89.27 Cr	71.51 Cr	78.21 Cr
Interest Expense	25.16 Cr	20.02 Cr	20.03 Cr	20.80 Cr	20.54 Cr
Pretax Income	32.55 Cr	29.18 Cr	50.49 Cr	32.57 Cr	40.14 Cr
Tax Provision	6.34 Cr	1.60 Cr	4.84 Cr	3.00 Cr	7.90 Cr
Net Income	26.21 Cr	27.58 Cr	45.65 Cr	29.57 Cr	32.24 Cr
Diluted EPS	2.10	2.19	3.57	2.29	2.52

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	2,853.75 Cr	3,077.67 Cr	3,432.21 Cr	3,817.50 Cr
Cost of Revenue	-	2,311.90 Cr	2,413.89 Cr	2,488.78 Cr	2,797.65 Cr
Gross Profit	-	541.85 Cr	663.78 Cr	943.43 Cr	1,019.85 Cr
Operating Expenses	-	437.64 Cr	501.82 Cr	757.97 Cr	833.81 Cr
Operating Income	-	104.21 Cr	161.96 Cr	185.46 Cr	186.04 Cr
EBITDA	-	163.49 Cr	225.51 Cr	292.93 Cr	304.52 Cr
Interest Expense	-	55.16 Cr	79.40 Cr	93.12 Cr	81.39 Cr
Pretax Income	-	51.06 Cr	85.86 Cr	132.59 Cr	152.39 Cr
Tax Provision	-	-2.19 Cr	-4.73 Cr	13.80 Cr	17.34 Cr
Net Income	-	53.25 Cr	90.59 Cr	118.79 Cr	135.05 Cr
Diluted EPS	-	4.96	7.47	9.51	10.57

Compounded Sales Growth

5 Years:	10.18%
1 Year:	3.00%

Compounded Profit Growth

5 Years:	36.37%
1 Year:	19.90%

Stock Price Performance

1 Year:	+3.01%
6 Months:	-31.58%
3 Months:	+16.88%
1 Month:	-0.86%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	1,667.60 Cr	1,890.89 Cr	2,032.64 Cr	2,280.63 Cr
Current Assets	-	1,128.77 Cr	1,304.46 Cr	1,358.02 Cr	1,331.19 Cr
Cash & Equivalents	-	13.80 Cr	10.56 Cr	11.89 Cr	3.28 Cr
Inventory	-	573.55 Cr	615.32 Cr	577.95 Cr	730.30 Cr
Receivables	-	168.23 Cr	244.26 Cr	259.51 Cr	244.51 Cr
Total Liabilities	-	859.69 Cr	978.78 Cr	1,009.24 Cr	1,022.07 Cr
Current Liabilities	-	588.43 Cr	700.75 Cr	710.74 Cr	776.94 Cr
Long Term Debt	-	255.23 Cr	244.44 Cr	252.37 Cr	157.96 Cr
Total Debt	-	606.24 Cr	616.47 Cr	654.29 Cr	607.40 Cr
Total Equity	-	807.91 Cr	912.11 Cr	1,023.40 Cr	1,258.56 Cr
Shares Outstanding	-	11.74 Cr	11.94 Cr	11.94 Cr	12.51 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	-190.06 Cr	102.27 Cr	212.04 Cr	149.48 Cr
Investing Cash Flow	-	-87.56 Cr	-52.94 Cr	-132.39 Cr	-98.01 Cr
Financing Cash Flow	-	211.74 Cr	-52.57 Cr	-78.35 Cr	-60.08 Cr
Capital Expenditure	-	-53.27 Cr	-61.19 Cr	-125.51 Cr	-109.25 Cr
Free Cash Flow	-	-243.33 Cr	41.08 Cr	86.53 Cr	40.23 Cr
Net Change in Cash	-	-65.87 Cr	-3.24 Cr	1.30 Cr	-8.61 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	19.0%	21.6%	27.5%	26.7%
Operating Margin %	-	3.7%	5.3%	5.4%	4.9%
Net Margin %	-	1.9%	2.9%	3.5%	3.5%
ROE %	-	6.6%	9.9%	11.6%	10.7%
ROCE %	-	9.7%	13.6%	14.0%	12.4%

Shareholding Pattern

Insiders

54.30%

Institutions

5.48%

Public Float

11.99%

Analyst View

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PARAGMILK · Consumer Defensive