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 ₹ 2,473 Cr.
- Current Price ₹ 207
- High / Low ₹ 290 / 150
- Stock P/E 24.6
- Book Value ₹ 80.6
- Dividend Yield 0.24 %
- ROCE 10.9 %
- ROE 10.5 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 2.57 times its book value
- Tax rate seems low
- Company has a low return on equity of -17.0% 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 SmallCap BSE Fast Moving Consumer Goods BSE Allcap
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
925 | 1,088 | 1,443 | 1,645 | 1,731 | 1,955 | 2,396 | 2,438 | 1,842 | 2,072 | 2,893 | 3,139 | 3,220 | |
842 | 1,006 | 1,330 | 1,494 | 1,639 | 1,758 | 2,171 | 2,225 | 1,718 | 2,508 | 2,773 | 2,941 | 2,996 | |
Operating Profit | 83 | 83 | 113 | 151 | 92 | 197 | 225 | 213 | 124 | -436 | 120 | 198 | 224 |
OPM % | 9% | 8% | 8% | 9% | 5% | 10% | 9% | 9% | 7% | -21% | 4% | 6% | 7% |
3 | 1 | -4 | -2 | -11 | 9 | 9 | 6 | 12 | 20 | 45 | 25 | 26 | |
Interest | 40 | 44 | 47 | 50 | 33 | 36 | 36 | 38 | 47 | 52 | 57 | 77 | 78 |
Depreciation | 26 | 28 | 28 | 33 | 49 | 51 | 50 | 54 | 49 | 54 | 57 | 60 | 64 |
Profit before tax | 19 | 12 | 34 | 67 | -1 | 119 | 148 | 127 | 41 | -522 | 51 | 86 | 109 |
Tax % | -9% | -30% | 6% | 29% | -524% | 27% | 18% | 26% | 49% | 2% | -4% | -6% | |
21 | 16 | 32 | 47 | 5 | 87 | 121 | 94 | 21 | -532 | 53 | 91 | 100 | |
EPS in Rs | 13.01 | 10.00 | 20.17 | 6.72 | 0.57 | 10.35 | 14.35 | 11.14 | 2.46 | -55.83 | 4.54 | 7.59 | 8.47 |
Dividend Payout % | 0% | 0% | 0% | 0% | 88% | 7% | 7% | 4% | 20% | 0% | 0% | 66% |
Compounded Sales Growth | |
---|---|
10 Years: | 11% |
5 Years: | 6% |
3 Years: | 19% |
TTM: | 4% |
Compounded Profit Growth | |
---|---|
10 Years: | 19% |
5 Years: | -6% |
3 Years: | 61% |
TTM: | 29% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 8% |
3 Years: | 21% |
1 Year: | -14% |
Return on Equity | |
---|---|
10 Years: | 0% |
5 Years: | -7% |
3 Years: | -17% |
Last Year: | 11% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 16 | 16 | 16 | 70 | 84 | 84 | 84 | 84 | 84 | 95 | 117 | 119 | 119 |
Reserves | 65 | 81 | 108 | 291 | 541 | 628 | 743 | 827 | 844 | 459 | 691 | 793 | 843 |
491 | 556 | 545 | 389 | 261 | 291 | 240 | 400 | 384 | 523 | 606 | 645 | 648 | |
113 | 161 | 255 | 241 | 401 | 378 | 375 | 379 | 371 | 318 | 253 | 330 | 355 | |
Total Liabilities | 685 | 814 | 924 | 991 | 1,287 | 1,382 | 1,442 | 1,690 | 1,683 | 1,395 | 1,668 | 1,887 | 1,966 |
243 | 242 | 291 | 345 | 334 | 397 | 406 | 430 | 473 | 459 | 436 | 466 | 516 | |
CWIP | 6 | 37 | 28 | 28 | 21 | 20 | 29 | 7 | 3 | 10 | 45 | 69 | 32 |
Investments | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 5 | 5 | 5 |
435 | 535 | 604 | 618 | 933 | 964 | 1,007 | 1,253 | 1,205 | 926 | 1,182 | 1,348 | 1,414 | |
Total Assets | 685 | 814 | 924 | 991 | 1,287 | 1,382 | 1,442 | 1,690 | 1,683 | 1,395 | 1,668 | 1,887 | 1,966 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
16 | 46 | 88 | 59 | -17 | 19 | 140 | -66 | 100 | -149 | -190 | 99 | |
-57 | -59 | -29 | -32 | -87 | -16 | -73 | -30 | -47 | -26 | -88 | -53 | |
41 | 15 | -58 | -26 | 140 | -12 | -91 | 111 | -69 | 248 | 212 | -49 | |
Net Cash Flow | -0 | 2 | 1 | 1 | 36 | -10 | -24 | 15 | -15 | 73 | -66 | -3 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 58 | 55 | 43 | 52 | 37 | 47 | 42 | 45 | 32 | 22 | 21 | 28 |
Inventory Days | 74 | 83 | 73 | 83 | 136 | 131 | 113 | 127 | 204 | 91 | 100 | 105 |
Days Payable | 49 | 55 | 66 | 51 | 99 | 91 | 73 | 59 | 89 | 43 | 27 | 37 |
Cash Conversion Cycle | 83 | 83 | 50 | 84 | 74 | 87 | 83 | 114 | 146 | 70 | 95 | 96 |
Working Capital Days | 92 | 94 | 45 | 79 | 64 | 86 | 78 | 113 | 160 | 90 | 109 | 111 |
ROCE % | 11% | 9% | 13% | 17% | 7% | 17% | 18% | 14% | 7% | -39% | 9% | 11% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Investor Presentation
11 Nov - Parag Milk Foods Limited- Investor Presentation for quarter and half year ended September 30, 2024
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
11 Nov - Grant of Stock Options under Parag Milk Foods Limited- Employee Stock Option 2022
- Unaudited Financial Results For Quarter And Half Year Ended September 30, 2024 11 Nov
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
11 Nov - Parag Milk Foods announces Q2 and H1 FY25 financial results.
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Board Meeting Outcome for Outcome Of Board Meeting Of Parag Milk Foods Limited Held On November 11, 2024
11 Nov - Approval of financial results and asset purchase.
Annual reports
Concalls
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Nov 2024TranscriptNotesPPT
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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]