Parag Milk Foods Ltd
Parag Milk Foods Ltd, founded in 1992 by Mr. Devendra Shah is involved in the development and promotion of 100% fresh cow’s milk and milk products under international brand names with a diverse portfolio in over 10 product categories. [1]
- Market Cap ₹ 2,459 Cr.
- Current Price ₹ 206
- High / Low ₹ 290 / 98.4
- Stock P/E 23.8
- Book Value ₹ 72.8
- Dividend Yield 0.00 %
- ROCE 8.72 %
- ROE 7.88 %
- Face Value ₹ 10.0
Pros
- Promoter holding has increased by 0.98% over last quarter.
Cons
- Stock is trading at 2.83 times its book value
- The company has delivered a poor sales growth of 8.16% over past five years.
- Company has a low return on equity of -19.5% over last 3 years.
- Promoter holding has decreased over last 3 years: -3.59%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: FMCG Industry: Food - Processing - Indian
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
900 | 925 | 1,088 | 1,443 | 1,645 | 1,731 | 1,955 | 2,396 | 2,438 | 1,842 | 2,072 | 2,893 | 3,150 | |
817 | 842 | 1,006 | 1,330 | 1,494 | 1,639 | 1,758 | 2,171 | 2,225 | 1,718 | 2,508 | 2,773 | 2,954 | |
Operating Profit | 83 | 83 | 83 | 113 | 151 | 92 | 197 | 225 | 213 | 124 | -436 | 120 | 196 |
OPM % | 9% | 9% | 8% | 8% | 9% | 5% | 10% | 9% | 9% | 7% | -21% | 4% | 6% |
0 | 3 | 1 | -4 | -2 | -11 | 9 | 9 | 6 | 12 | 20 | 45 | 27 | |
Interest | 40 | 40 | 44 | 47 | 50 | 33 | 36 | 36 | 38 | 47 | 52 | 57 | 70 |
Depreciation | 23 | 26 | 28 | 28 | 33 | 49 | 51 | 50 | 54 | 49 | 54 | 57 | 63 |
Profit before tax | 21 | 19 | 12 | 34 | 67 | -1 | 119 | 148 | 127 | 41 | -522 | 51 | 89 |
Tax % | 8% | -9% | -30% | 6% | 29% | 524% | 27% | 18% | 26% | 49% | -2% | -4% | |
19 | 21 | 16 | 32 | 47 | 5 | 87 | 121 | 94 | 21 | -532 | 53 | 103 | |
EPS in Rs | 11.95 | 13.01 | 10.00 | 20.17 | 6.72 | 0.57 | 10.35 | 14.35 | 11.14 | 2.46 | -55.83 | 4.54 | 8.78 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 88% | 7% | 7% | 4% | 20% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 12% |
5 Years: | 8% |
3 Years: | 6% |
TTM: | 19% |
Compounded Profit Growth | |
---|---|
10 Years: | 10% |
5 Years: | -10% |
3 Years: | -17% |
TTM: | 118% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | -3% |
3 Years: | 12% |
1 Year: | 95% |
Return on Equity | |
---|---|
10 Years: | -1% |
5 Years: | -6% |
3 Years: | -20% |
Last Year: | 8% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 16 | 16 | 16 | 16 | 70 | 84 | 84 | 84 | 84 | 84 | 95 | 117 | 117 |
Reserves | 42 | 65 | 81 | 108 | 291 | 541 | 628 | 743 | 827 | 844 | 456 | 686 | 737 |
413 | 491 | 556 | 545 | 389 | 261 | 291 | 240 | 400 | 384 | 523 | 596 | 616 | |
130 | 113 | 161 | 255 | 241 | 401 | 378 | 375 | 379 | 371 | 321 | 268 | 273 | |
Total Liabilities | 601 | 685 | 814 | 924 | 991 | 1,287 | 1,382 | 1,442 | 1,690 | 1,683 | 1,395 | 1,668 | 1,744 |
246 | 243 | 242 | 291 | 345 | 334 | 397 | 406 | 430 | 473 | 459 | 436 | 411 | |
CWIP | 7 | 6 | 37 | 28 | 28 | 21 | 20 | 29 | 7 | 3 | 10 | 45 | 59 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 5 | 5 |
348 | 435 | 535 | 604 | 618 | 933 | 964 | 1,007 | 1,253 | 1,205 | 926 | 1,182 | 1,268 | |
Total Assets | 601 | 685 | 814 | 924 | 991 | 1,287 | 1,382 | 1,442 | 1,690 | 1,683 | 1,395 | 1,668 | 1,744 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
34 | 16 | 46 | 88 | 59 | -17 | 19 | 140 | -66 | 100 | -149 | 56 | |
-70 | -57 | -59 | -29 | -32 | -87 | -16 | -73 | -30 | -47 | -26 | -90 | |
36 | 41 | 15 | -58 | -26 | 140 | -12 | -91 | 111 | -69 | 248 | 439 | |
Net Cash Flow | 0 | -0 | 2 | 1 | 1 | 36 | -10 | -24 | 15 | -15 | 73 | 406 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 48 | 58 | 55 | 43 | 52 | 37 | 47 | 42 | 45 | 32 | 22 | 21 |
Inventory Days | 73 | 74 | 83 | 73 | 83 | 136 | 131 | 113 | 127 | 204 | 91 | 98 |
Days Payable | 44 | 49 | 55 | 66 | 51 | 99 | 91 | 73 | 59 | 89 | 43 | 26 |
Cash Conversion Cycle | 76 | 83 | 83 | 50 | 84 | 74 | 87 | 83 | 114 | 146 | 70 | 93 |
Working Capital Days | 68 | 92 | 94 | 45 | 79 | 64 | 86 | 78 | 113 | 160 | 90 | 109 |
ROCE % | 15% | 11% | 9% | 13% | 17% | 7% | 17% | 18% | 14% | 7% | -39% | 9% |
Documents
Announcements
- Board Meeting Intimation for Consideration And Approval Of The Audited Financial Results Of The Company For The Quarter And Year Ended March 31, 2024 And Recommendation Of Dividend For Financial Year 2023-24, If Any 10 May
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 15 Apr
- Format of the Annual Disclosure to be made by an entity identified as a LC - Annexure B2 15 Apr
- Certificate Pursuant To Regulation 40(9) And 40(10) Of The SEBI (LODR) Regulations, 2015, For The Financial Year Ended March 31, 2024 8 Apr
- Compliance Certificate Ur 7(3) Of SEBI (LODR) Regulations, 2015 For The Year Ended March 31, 2024 7 Apr
Annual reports
Concalls
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Market Leadership and innovation[1]
It is a dominant Player in Cheese in India with a 35% Market Share.
It is a leader in the Cow Ghee category with its brand ‘Gowardhan’ Ghee with 20% market share. It is India’s First Company to launch a truly ‘Made-in-India’ B2C Whey protein powder under Brand ‘Avvatar’ in 2017.
It is the only company to manufacture Fresh Paneer with a 75 Day Shelf Life.
Its cheese plant has the largest production capacity in India, with a raw cheese production capacity of 60 MT per day. [2] [3]
It has the Largest automated dairy farm with ~3000+ Holstein Friesian Cows.[4]