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

₹ 214 -0.76%
21 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 22% 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 ₹ 2,551 Cr.
  • Current Price ₹ 214
  • High / Low ₹ 237 / 135
  • Stock P/E 21.5
  • Book Value ₹ 85.7
  • Dividend Yield 0.23 %
  • ROCE 14.0 %
  • ROE 12.3 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Tax rate seems low
  • Company has a low return on equity of 10.5% over last 3 years.

* 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

Part of BSE Fast Moving Consumer Goods BSE SmallCap BSE Allcap

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
562 691 665 736 801 750 798 801 790 758 871 885 918
1,148 681 627 702 764 709 743 736 753 702 802 811 856
Operating Profit -585 10 38 34 37 40 56 65 37 56 69 74 62
OPM % -104% 1% 6% 5% 5% 5% 7% 8% 5% 7% 8% 8% 7%
10 31 0 5 9 6 6 6 8 6 7 5 13
Interest 13 14 14 15 12 17 21 22 16 19 23 26 25
Depreciation 14 13 14 12 18 15 15 15 15 16 18 16 17
Profit before tax -602 14 10 11 16 15 24 33 14 27 36 38 33
Tax % -2% 25% -10% 13% -36% -41% -3% -4% 27% -2% 18% 4% 19%
-592 10 11 9 22 21 25 34 10 27 29 36 26
EPS in Rs -62.05 1.07 1.06 0.79 1.90 1.82 2.15 2.91 0.82 2.29 2.45 3.02 2.20
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
1,088 1,443 1,645 1,731 1,955 2,396 2,438 1,842 2,072 2,893 3,139 3,432
1,006 1,330 1,494 1,639 1,758 2,171 2,225 1,718 2,508 2,773 2,941 3,180
Operating Profit 83 113 151 92 197 225 213 124 -436 120 198 253
OPM % 8% 8% 9% 5% 10% 9% 9% 7% -21% 4% 6% 7%
1 -4 -2 -11 9 9 6 12 20 45 25 40
Interest 44 47 50 33 36 36 38 47 52 57 77 93
Depreciation 28 28 33 49 51 50 54 49 54 57 60 67
Profit before tax 12 34 67 -1 119 148 127 41 -522 51 86 133
Tax % -30% 6% 29% -524% 27% 18% 26% 49% 2% -4% -6% 10%
16 32 47 5 87 121 94 21 -532 53 91 119
EPS in Rs 10.00 20.17 6.72 0.57 10.35 14.35 11.14 2.46 -55.83 4.54 7.59 9.95
Dividend Payout % 0% 0% 0% 88% 7% 7% 4% 20% 0% 0% 7% 10%
Compounded Sales Growth
10 Years: 9%
5 Years: 7%
3 Years: 18%
TTM: 9%
Compounded Profit Growth
10 Years: 12%
5 Years: 5%
3 Years: 31%
TTM: 31%
Stock Price CAGR
10 Years: %
5 Years: 20%
3 Years: 32%
1 Year: 16%
Return on Equity
10 Years: 1%
5 Years: -6%
3 Years: 10%
Last Year: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 16 16 70 84 84 84 84 84 95 117 119 119
Reserves 81 108 291 541 628 743 827 844 459 691 793 904
556 545 389 261 291 240 400 384 523 606 645 654
161 255 241 401 378 375 379 371 318 253 330 355
Total Liabilities 814 924 991 1,287 1,382 1,442 1,690 1,683 1,395 1,668 1,887 2,033
242 291 345 334 397 406 430 473 459 436 466 578
CWIP 37 28 28 21 20 29 7 3 10 45 69 19
Investments 0 0 0 0 1 1 1 1 0 5 5 5
535 604 618 933 964 1,007 1,253 1,205 926 1,182 1,348 1,431
Total Assets 814 924 991 1,287 1,382 1,442 1,690 1,683 1,395 1,668 1,887 2,033

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
46 88 59 -17 19 140 -66 100 -149 -190 99 212
-59 -29 -32 -87 -16 -73 -30 -47 -26 -88 -53 -132
15 -58 -26 140 -12 -91 111 -69 248 212 -49 -78
Net Cash Flow 2 1 1 36 -10 -24 15 -15 73 -66 -3 1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 55 43 52 37 47 42 45 32 22 21 28 28
Inventory Days 83 73 83 136 131 113 127 204 91 100 105 83
Days Payable 55 66 51 99 91 73 59 89 43 27 37 37
Cash Conversion Cycle 83 50 84 74 87 83 114 146 70 95 96 74
Working Capital Days 94 45 79 64 86 78 113 160 90 109 111 106
ROCE % 9% 13% 17% 7% 17% 18% 14% 7% -39% 9% 11% 14%

Shareholding Pattern

Numbers in percentages

3 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
40.75% 36.19% 41.63% 41.63% 41.63% 41.63% 41.63% 42.61% 42.61% 42.61% 42.61% 42.61%
3.42% 12.95% 11.73% 10.23% 8.75% 8.75% 8.83% 8.95% 8.51% 10.08% 8.20% 8.46%
15.10% 4.20% 3.84% 3.84% 7.20% 7.96% 8.36% 8.42% 8.38% 7.11% 7.06% 6.91%
40.55% 46.48% 42.67% 44.16% 42.27% 41.53% 41.02% 39.88% 40.34% 40.05% 41.97% 41.88%
0.18% 0.16% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.14%
No. of Shareholders 67,71261,41360,77062,05758,60062,70967,46599,7841,08,9411,09,4311,11,2471,10,428

* 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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