Parag Milk Foods Ltd. declared Q1FY27 earnings results on Thursday where the company reported a 20.1% year-on-year decline in net profit to Rs 22.1 crore as compared with Rs 27.6 crore in the corresponding period last year. The revenue from operations, however, increased 10.9% to Rs 945 crore from Rs 852 crore in the year-ago period.
Operating performance improved during the quarter, with earnings before interest, tax, depreciation and amortisation (EBITDA) rising 17.9% to Rs 68.3 crore, against Rs 57.9 crore a year earlier. The Ebitda margin expanded to 7.2% from 6.8% in the corresponding period last year.
Parag Milk Foods announced that its Board of Directors has approved the expansion of its cheese manufacturing capacity from 60 metric tonnes per day to 120 metric tonnes per day. This investment is part of the Company's strategy to cater to the growing demand of Cheese and Whey protein business and spotting new avenues of growth. This will involve an estimated capital expenditure of Rs. 105 crore to be funded from mix of internal accruals and debt. The expansion is likely to complete by FY28.
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According to IMARC Group, the Indian cheese market is expected to grow from approximately Rs 129 billion in 2025 to around Rs 620 billion by 2034, driven by rising urbanisation, evolving food preferences and the expansion of organised food service channels.
The company has also announced the elevation of Rakesh Kothari as its Chief Financial Officer (CFO) & KMP with the effect from August 6, 2026. He has been serving as President, Finance & Accounts for the last one year and will now lead the company's finance function. With more than 25 years of experience across banking and corporate finance, Rakesh brings expertise in financial planning, treasury operations, investor relations, risk management and business finance. Prior to joining Parag, he worked with Citibank and Sadhana Nitro Chem.
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