Parag Milk Foods Limited has informed the Exchange about Transcript
PARAGMILK · price
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Parag Milk Foods shared its Q4 FY25 and FY25 earnings call transcript on May 12, 2025, covering results discussed on May 5, 2025. Q4 FY25 revenue hit a record Rs. 918 crores, up 16% year-on-year with 13% volume growth, while full-year FY25 revenue stood at Rs. 3,432 crores, up 9% with 10% volume growth. FY25 EBITDA grew 30% to Rs. 293 crores, with margins expanding 130 basis points to 8.5%, and PAT rose 31% to Rs. 119 crores. Core categories (ghee, cheese, paneer) grew 17% in volume, with Gowardhan Ghee holding 22% market share and GO Cheese at 35%. The company recently raised Rs. 161 crores via convertible warrants to investor Utpal Sheth, with Rs. 70 crores earmarked for debt reduction. Management reiterated the Chairman's vision of reaching Rs. 10,000 crores in revenue within four years. Debt-to-equity improved from 2.4x to 1.9x, and operating cash flow reached Rs. 212 crores.
Strong FY25 results with margin expansion and balance sheet improvement are positive signals for shareholders, reinforcing the growth story. However, management repeatedly declined to share category-wise margins and other granular data, which may frustrate investors seeking deeper transparency and could limit multiple expansion until clearer disclosures are made.