Parag Milk Foods Reports Strong Growth in Q4 FY26 and FY26 Financial Results
Parag Milk Foods Limited (PMFL), a prominent Dairy-FMCG company in India, announced its financial results for the quarter and year ending March 31, 2026. The company reported significant revenue and profitability increases across its operations, driven by strong growth in both core and new age business segments.Consolidated Financial Performance Overview
The company presented its consolidated financial results for the full fiscal year (FY26) and the fourth quarter (Q4 FY26) in May 2026.The consolidated performance summary for FY26 and Q4 FY26 is detailed below:
| Metric | Unit | Full Year (FY26) | Q4 FY26 | Key Growth Indicators |
|---|---|---|---|---|
| Revenue | INR Cr | 3,818 | 945 | FY26: Up 11% YoY, 5% Volume Growth |
| Gross Profit | INR Cr | 1,020 | 265 | FY26: 8% Growth YoY, 26.7% GPM |
| EBITDA | INR Cr | 310 | 78 | FY26: 6% Growth, 8.1% EBITDA Margin |
| PAT | INR Cr | 135 | 32 | FY26: 14% Growth YoY |
| PAT (bei) | INR Cr | 141 | N/A | FY26: 19% Growth YoY |
Key Business Highlights and Growth Drivers
The financial results were underpinned by robust growth in core categories and exceptional performance from the New Age Business segment.In the core categories, products like Ghee, Cheese, and Paneer witnessed a volume growth of 8% and value growth of 16% Year over Year (YoY). The brand Gowardhan Ghee continues to maintain a strong market presence, commanding a 22% market share in the branded cow ghee segment. Furthermore, the cheese brand ‘Go’ holds the #2 position with a 35% market share in the Cheese category.
A major highlight was the performance of the New Age Business, which encompasses brands like Pride of Cows and Avvatar. This segment crossed the ₹100 crore quarterly revenue milestone in Q4, marking a significant strategic achievement. This segment recorded robust 109% YoY growth in Q4 FY26 and achieved 91% YoY growth for the entire FY26. Operationally, the New Age Business now contributes 10% to the overall company turnover, an increase from 6% in the previous year. Avvatar, in particular, remains a significant growth driver, reporting an 11x scale-up over the past four years, with consumer response to its protein wafer bar leading to a 6% share of brand revenue during Q4.
Commodity and Market Factors
During the period, the commodity market faced volatility. Raw materials witnessed an inflation of 15% YoY and 4% sequentially during Q4 FY26, while average milk prices increased to INR 42 per litre. Over the full fiscal year (FY26), average milk prices saw a YoY inflation of 16%.PARAGMILK Stock Price Movement
On Thursday, Parag Milk Foods Limited shares rallied, closing at ₹230.52, reflecting a 3.70% gain for the day. The stock traded on a volume of 1.13 million shares, establishing an intraday range between ₹221.75 and ₹233.00.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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