Parag Milk Foods Ltd

Parag Milk Foods Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Parag Milk Foods Ltd

₹ 210 -0.52%
03 May - close price
paragmilkfoods.com BSE: 539889 NSE : PARAGMILK
About

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]

Key Points

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]

Website BSE NSE
  • Market Cap ₹ 2,507 Cr.
  • Current Price ₹ 210
  • High / Low ₹ 290 / 91.7
  • Stock P/E 23.5
  • Book Value ₹ 73.6
  • Dividend Yield 0.00 %
  • ROCE 10.1 %
  • ROE 10.1 %
  • Face Value ₹ 10.0
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Pros

  • Promoter holding has increased by 0.98% over last quarter.

Cons

  • Stock is trading at 2.85 times its book value
  • The company has delivered a poor sales growth of 8.27% over past five years.
  • Company has a low return on equity of -19.0% 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
462 422 426 520 527 552 681 654 723 796 738 787 789
426 403 380 465 475 1,135 669 613 687 745 698 731 725
Operating Profit 36 19 46 55 53 -582 12 41 35 51 40 56 64
OPM % 8% 5% 11% 11% 10% -105% 2% 6% 5% 6% 5% 7% 8%
1 4 1 1 1 6 28 0 5 2 5 2 1
Interest 11 12 11 11 13 12 13 12 14 14 15 20 18
Depreciation 12 12 13 12 13 13 13 13 11 17 14 14 14
Profit before tax 13 -0 24 32 29 -602 15 15 15 23 16 24 32
Tax % 17% -5,400% 28% 26% 25% 2% 24% -6% 9% -23% -17% -11% -4%
11 -12 17 24 21 -592 11 16 14 28 18 27 33
EPS in Rs 1.30 -1.44 1.79 2.52 2.24 -62.03 1.16 1.49 1.16 2.38 1.56 2.29 2.85
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
886 923 1,079 1,426 1,623 1,701 1,918 2,346 2,391 1,792 2,026 2,853 3,110
805 840 996 1,319 1,474 1,624 1,730 2,129 2,180 1,668 2,454 2,714 2,899
Operating Profit 81 83 83 106 149 78 188 218 212 124 -429 139 211
OPM % 9% 9% 8% 7% 9% 5% 10% 9% 9% 7% -21% 5% 7%
1 3 1 1 1 -11 6 4 3 7 9 35 10
Interest 20 24 40 45 49 29 37 36 38 46 47 53 67
Depreciation 37 39 25 25 32 47 49 48 51 46 51 54 60
Profit before tax 25 22 19 37 70 -9 108 138 125 39 -518 67 95
Tax % 15% 0% -3% 1% 25% 81% 27% 17% 28% 55% -2% -2%
21 22 19 37 53 -2 78 114 91 17 -529 68 106
EPS in Rs 13.25 13.91 12.05 22.89 7.46 -0.21 9.33 13.56 10.78 2.07 -55.48 5.84 9.08
Dividend Payout % 0% 0% 0% 0% 0% -238% 8% 7% 5% 24% 0% 0%
Compounded Sales Growth
10 Years: 12%
5 Years: 8%
3 Years: 6%
TTM: 19%
Compounded Profit Growth
10 Years: 12%
5 Years: -3%
3 Years: -9%
TTM: 119%
Stock Price CAGR
10 Years: %
5 Years: -2%
3 Years: 16%
1 Year: 128%
Return on Equity
10 Years: -1%
5 Years: -6%
3 Years: -19%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 44 68 88 119 307 554 633 741 822 836 451 696 746
393 476 545 537 385 261 291 235 395 366 477 541 545
126 112 162 254 237 394 360 355 363 352 297 228 237
Total Liabilities 578 672 810 926 999 1,293 1,368 1,415 1,665 1,638 1,321 1,583 1,646
204 195 188 238 295 307 371 379 398 381 350 311 297
CWIP 7 6 37 28 28 21 16 23 7 1 3 9 10
Investments 18 18 18 18 58 62 63 63 63 63 62 67 109
350 453 567 642 618 903 918 950 1,197 1,194 906 1,196 1,231
Total Assets 578 672 810 926 999 1,293 1,368 1,415 1,665 1,638 1,321 1,583 1,646

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
5 3 42 77 89 -25 17 138 -73 100 -146 -179
-59 -49 -59 -28 -66 -87 -14 -66 -24 -34 -11 -82
54 46 19 -48 -22 148 -13 -96 112 -81 230 196
Net Cash Flow 0 -0 2 1 1 36 -10 -23 15 -15 73 -66

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 46 32 22 20
Inventory Days 71 71 82 72 83 135 129 110 137 204 89 95
Days Payable 41 45 51 65 49 97 87 71 61 86 40 22
Cash Conversion Cycle 78 84 85 51 86 75 88 82 121 150 71 94
Working Capital Days 78 105 96 58 82 66 88 80 116 166 93 113
ROCE % 11% 9% 10% 12% 17% 5% 15% 17% 14% 7% -41% 10%

Shareholding Pattern

Numbers in percentages

15 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
40.75% 40.75% 40.75% 40.75% 40.75% 36.19% 41.63% 41.63% 41.63% 41.63% 41.63% 42.61%
5.76% 4.12% 4.37% 4.47% 3.42% 12.95% 11.73% 10.23% 8.75% 8.75% 8.83% 8.95%
17.23% 16.03% 15.10% 15.10% 15.10% 4.20% 3.84% 3.84% 7.20% 7.96% 8.36% 8.42%
36.08% 38.92% 39.60% 39.50% 40.55% 46.48% 42.67% 44.16% 42.27% 41.53% 41.02% 39.88%
0.18% 0.18% 0.18% 0.18% 0.18% 0.16% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15%
No. of Shareholders 51,83353,81156,09365,04467,71261,41360,77062,05758,60062,70967,46599,784

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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