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Parag Milk Foods Ltd

Company details

85.50
94.00
65.50
131.75
6M Return -4.26%
1Y Return -20.30%
Mkt Cap.(Cr) 1,027.63
Volume 56,915
Div Yield 0.00%
OI
-
OI Chg %
-
Volume 56,915

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Parag Milk Foods Ltd.

Q2FY23 Quarterly Result Announced for Parag Milk Foods Ltd.

FMCG company Parag Milk Foods announced Q2FY23 results:

  • Consolidated Q2FY23:
    • Consolidated revenue from operations for Q2FY23 stood at Rs 6,648.4 million reporting a growth of 24.9% as compared to Rs 5,323.2 million in Q2FY22, driven by robust volume and value growth across categories.
    • The share of value-added products for Q2FY23 is 74.5% of total revenue, while that of liquid milk was 12% and the same for skimmed milk powder was 13.5% respectively.
    • Gross Profit for Q2FY23 stood at Rs 1,378.5 million as compared to Rs 1,492.3 million in Q2FY22.
    • EBITDA for Q2FY23 stood at Rs 379.4 million as compared to Rs 530.2 million in Q2FY22.
    • Profit After Tax for Q2FY23 stood at Rs 113.9 million as compared to Rs 227.7 million in Q2FY22.

Commenting on the Quarter results, Mr. Devendra Shah, Chairman said “We delivered a steady performance for the quarter led by healthy festive demand, hinging on volume, pricing and mix evolution across our categories, while the high commodity inflation impacted the margins.

We continued to support and strengthen our brands with healthy investments employing impactful marketing. We have collaborated with popular national shows like Kaun Banega Crorepati (KBC) for our flagship brand Gowardhan Ghee and Super Singer for brand Go Cheese, which has enabled the brand to have higher recall and reach the wider audience. I am happy to state that recently we have commenced our Lactose value added plant and we are getting good response from our customers that is likely to reflect in our performance ahead. We would continue to maintain sharp focus on driving penetration and market share gains across our portfolios aided by distribution expansion, and strategic investment in market development and brand building.

We have taken steps towards strengthening and diversifying the board, and in this direction, I am glad to announce that we have appointed Dr. Dnyaneshwar V. Darshane as an Independent Director. He brings global expertise to the company with his strong 37 years of experience across continents and association with eminent companies like The Coca-Cola Company, Nicolas-Piramal, Pepsi Foods, Tata Pharmaceuticals, U.S. Vitamins Pharmaceutical to name a few. He has been an innovative, multifaceted, and result-driven Executive Leader possessing visionary leadership. I strongly believe that his vision, thoughts and multidimensional experience will be a guiding torch towards taking PMFL to the next orbit of growth.

The recent infusion of funds into the business via preferential allotment and the warrat conversion of the promoters would enable the Company to move quickly and take advantage of the accelerated growth opportunities that is being witnessed across segments. With our integrated business model, strong brand equity, and well-established distribution network, we are well positioned to capitalize on our industry’s promising potential. We are committed to achieving sustainable growth and profitability and creating long term value for our stakeholders.”

Result PDF

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FINANCIALS

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Operating Profit

Profit after Tax

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Reserves and Surplus

Debt

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Profit after Tax

PE

Debt/Equity

P BV

COMPARISION

INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 551.53 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 17,885.38 -31,611.37
LAST 3M 35,121.07 -30,202.77
LAST 6M 57,685.76 41,245.03
LAST 12M 186,762.13 -119,512.97

INFORMATION

Stock PE (TTM)

0

Promoter Holding

41.63%

Book Value

68.4878

ROCE

0%

ROE

0%

Description

  • Parag Milk Foods Ltd (PMFL), founded in 1992, is one of leading dairy FMCG companies in India. The company manufactures a diverse range of products like cheese, ghee, fresh milk, whey proteins, paneer, curd, yoghurt, milk powder and dairy based beverages. The Company enjoys a strong reputation and brand recall across several geographies through its exports across UAE, Singapore, Oman, Kuwait, Mauritius, New Zealand, Australia, Congo, Seychelles, Iraq, USA, Hong Kong, Philippines, , Sri Lanka, UAE and Bangladesh. The Company also supplies farm-to-home premium fresh milk from Bhagyalaxmi Dairy Farms, which it markets and sells in Mumbai, Pune, Surat, and Delhi-NCR region. As on March 31, 2019, the Company has one wholly owned subsidiary called Bhagyalaxmi Dairy Farms Pvt Ltd (BDFPL), which is located at Manchar, Pune The Company was incorporated as Parag Milk & Milk Products Private Limited on December 29, 1992 with the registrar of companies at Mumbai with the registered office at Pune as a private limited company under the Companies Act, 1956. The name of the Company was changed to Parag Milk Foods Private Limited and a fresh certificate of incorporation consequent upon change of name was granted by the RoC on April 11, 2008. The Company was converted into a public limited company pursuant to approval of the shareholders at an extraordinary general meeting held on May 16, 2015 and consequently, the name of the Company was changed to Parag Milk Foods Limited and a fresh certificate of incorporation consequent upon conversion to a public limited company was granted to the Company by the RoC on July 7, 2015. Parag Milk Foods Ltd started commercial production in 1992 and commissioned the Manchar, Pune plant for production in 1998 under the Gowardhan Brand. The company launched Bhagyalaxmi Dairy Farms in 2005 and started operations at the Palamaner Plant in 2010. The company launched milk under `Pride of Cows` Brand in 2011. The company has being launching various products in milk and cheese in subsequent years. Parag Milk Foods raised Rs 300 crore from through fresh issue of 136.99 million equity shares in an initial public offer in May 2016. During the financial year ended 31 March 2017, the company expanded its cheese slice range with flavours like Piri Piri, chutney cheese, Kachha Aam, Schezwan and Acchari and other product categories like Pre-mix with Go Easy Shake and relaunched dairy whitener under Milk Rich brand name. During the year, the company company expanded distribution of fresh milk in upcountry Tamil Nadu market. During the financial year ended 31 March 2018, the company introduced fresh dahi to strengthen its presence in north region. With this launch, the company has expanded its geographical reach and entered into Rs 1500 crore curd market of Delhi. The company also launched Mishti Doi which is nutritionally rich in protein. This is a traditional Bengali dessert. The company believes that the addition of Mishti Doi to its product portfolio will further build up the Gowardhan Dahi category. The company also launched Gowardhan Paneer as a fresh paneer category with a shelf life of 75 days and is made from 100 % cows` milk. It is a rich source of proteins and vitamins. This is the only product which has used ESL technology. To strengthen the presence in north, the company acquired the manufacturing unit of Danone Foods and Beverages India Pvt Ltd., the local entity of French dairy firm Danone SA. The acquisition will strengthen the company`s distribution of fresh category products like milk, dahi, paneer, yogurt in the Northern and Eastern regions of India, which is largely dominated by buffalo milk consumption. This move will give the company an edge to understand the consumer preferences in northern India. The plant is spread across 5,500 square meters on the outskirts of Delhi NCR. Its current milk processing capacity is 0.75 LLPD (lakh litre per day) along with curd processing capacity of 15 tonne.

Registered Address

F No 1 P No 19 Nav Rajastan So, S B Road Shivaji Nagar, Pune, Maharashtra, 411016

Tel : 91-20-4300555/25674761/62/63
Email : cs:paragmilkfoods.com
Website : http://www.paragmilkfoods.com

Registrar

KFin Techologies Ltd

AGM Date (Month) : Sep
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 539889
NSE Code : PARAGMILK
Book Closure Date (Month) : Sep
BSE Group : B
ISIN : INE883N01014

ICICIdirect Parag Milk Foods Ltd FAQ

You can buy Parag Milk Foods Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Parag Milk Foods Ltd Share.
Company share prices and volatile and keep changing according to the market conditions. As of Feb 01, 2023 04:01 PM the closing price of Parag Milk Foods Ltd was ₹ 87.55.
Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Feb 01, 2023 04:01 PM, the market cap of Parag Milk Foods Ltd stood at ₹ 1,027.63.
The latest PE ratio of Parag Milk Foods Ltd as of Feb 01, 2023 04:01 PM is 0
The latest PB ratio of Parag Milk Foods Ltd as of Feb 01, 2023 04:01 PM is 0.79
The 52-week high of Parag Milk Foods Ltd is ₹ 131.75 while the 52-week low is ₹ 65.50

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