Press Release on Unaudited Financial Results for the quarter ended June 30, 2025
PARAGMILK · price
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Parag Milk Foods reported its highest-ever Q1 revenue of Rs. 852 crore, up 12% year-on-year, backed by 5% volume growth. Core categories Ghee, Cheese, and Paneer grew 9% by volume, with flagship brands Gowardhan Ghee holding a 22% market share in branded cow ghee and Go Cheese commanding 35% of the cheese segment. EBITDA rose 6% to Rs. 66 crore though margins slipped slightly to 7.7% (from 8.1%) due to 18% YoY rise in average milk prices (Rs. 37/litre). Profit Before Tax grew 9% YoY to Rs. 29 crore, while Profit After Tax was largely flat at Rs. 28 crore (1% growth). The New Age business (Pride of Cows and Avvatar) surged 57% YoY and now contributes 9% of overall revenue (vs 6% last year), with Avvatar having grown 8x over the last three Q1s.
Strong top-line and volume growth signals healthy demand, but margin compression and nearly flat PAT may temper near-term investor enthusiasm. The strong traction in value-added and premium categories supports the long-term growth story, which could be positive for the stock over time.