Parag Milk Foods Achieves Record Quarterly Revenue Of ₹1,241 Crore In Q2 FY27, Sales Jump 23% But Net Profit Drops 8% To ₹42 Crore Despite Strong Topline Growth
· Free Press Journal
Mumbai: Parag Milk Foods Limited reported an 8 per cent year-on-year decline in consolidated profit after tax (PAT) to ₹42 crore for the quarter ended September 30, 2026 (Q2 FY27), even as revenue increased 23 per cent to a record ₹1,241 crore.
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The dairy FMCG company's reported profit was affected by a high base in the previous year, which included a ₹16 crore one-time gain from the reversal of mark-to-market adjustments following the conversion of foreign currency convertible bonds into equity.
Excluding the previous year's one-time gain, the company reported PAT growth of 42 per cent.
Parag Milk Foods Q3 FY26 Net Profit Falls 13.51% To ₹32.57 Crore Amid Rising Expenses & Commodity InflationEBITDA Rises 37% Year-On-Year
Parag Milk Foods reported consolidated EBITDA of ₹101 crore during the September quarter, representing 37 per cent year-on-year growth after excluding the prior-year one-off. The EBITDA margin improved to 8.1 per cent from an adjusted 7.3 per cent in Q2 FY26. Gross profit increased 24 per cent to ₹323 crore, while the gross profit margin improved to 26 per cent from 25.8 per cent.
Flagship Dairy Categories Record Growth
The company's flagship categories, including ghee, cheese, paneer and curd, generated revenue of ₹778 crore during Q2 FY27, accounting for 63 per cent of total revenue. These categories recorded 20 per cent value growth and 7 per cent volume growth. The company reported its highest-ever quarterly paneer volumes, while the cheese business improved sequentially.
H1 FY27 Revenue Rises 18%
For the six months ended September 30, 2026, Parag Milk Foods reported consolidated revenue of ₹2,185 crore, representing 18 per cent year-on-year growth. EBITDA stood at ₹170 crore, up 23 per cent on an adjusted basis. Reported PAT declined 13 per cent to ₹64 crore, although adjusted PAT increased 12 per cent.
Maharashtra FDA Tightens Infant Food Rules; ‘Mother’s Milk Is Best’ Notice Made MandatoryNew Age Business Grows 71%
The company's New Age Business, comprising Pride of Cows and Avvatar, recorded revenue of ₹154 crore, up 71 per cent year-on-year. Its contribution to overall revenue increased to 12 per cent from 9 per cent a year earlier.
Board Approves Capacity Expansion
Parag Milk Foods approved approximately ₹100 crore to increase paneer manufacturing capacity from 20 tonnes per day to 80 tonnes per day. The company is also investing ₹105 crore to double cheese capacity to 120 tonnes per day. The board additionally approved the proposed amalgamation of Bhagyalaxmi Dairy Farm Private Limited with the company, subject to requisite approvals.
Disclaimer: This report is based on unaudited financial results filed by the company and does not constitute investment advice.