Parag Milk Foods Limited - Investor Presentation on Financial Results for the quarter and year ended March 31, 2026
PARAGMILK · price
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Parag Milk Foods reported Q4FY26 revenue of ₹945 crore (up 3% YoY) with a 5% volume decline offset by value growth. FY26 full-year revenue reached ₹3,818 crore, marking the highest ever, with 11% value growth and 5% volume growth. The company achieved 23% PAT growth in Q4 and 19% PAT growth for FY26, backed by improved gross margins despite a 15% YoY inflation in milk prices. New Age Business (Pride of Cows & Avvatar) emerged as a strong growth pillar, growing 91% YoY and contributing 10% to overall turnover. The capital structure was strengthened through equity infusion via preferential warrants and FCCB conversion, reducing net debt from ₹912 crore in FY23 to ₹484 crore in FY26.
The company's ability to improve gross margins (130 bps in Q4 to 28%) despite raw material inflation demonstrates strong pricing power and operational efficiency. The growing contribution from premium New Age Business and reduced leverage positions Parag Milk Foods for sustainable shareholder value creation.