Milky Mist Dairy Food Q2 FY27 results: net profit ₹77.94 crore

How did Milky Mist Dairy Food perform in Q2 FY27?

Milky Mist Dairy Food Limited reported consolidated revenue of ₹1,089 crore for Q2 FY27, compared with ₹973.45 crore in Q1 FY27. EBITDA was ₹157.48 crore, up from ₹143.81 crore, while the margin was 14.5% against 14.8%. Net profit was ₹77.94 crore, compared with ₹64.68 crore, and basic EPS was ₹1.10 against ₹1.01.

Profit before tax was ₹90.35 crore in Q2 FY27, up from ₹73.51 crore in Q1 FY27, while tax was ₹12.41 crore. Total expenses rose to ₹1,007 crore from ₹901.02 crore, with cost of materials at ₹757.83 crore and finance costs at ₹19.91 crore. The company reported no exceptional item.

On a standalone basis, Q2 FY27 revenue was ₹1,091.6 crore and profit after tax was ₹77.55 crore. For H1 FY27, consolidated revenue from operations was ₹2,062.85 crore, total income was ₹2,071.65 crore, profit before tax was ₹163.85 crore and profit after tax was ₹142.62 crore. Basic EPS for the first half was ₹2.11.

What do the balance sheet and cash flow show?

As of 30 September 2026, the consolidated balance sheet showed total assets of ₹3,888.6 crore and total equity of ₹2,370.97 crore. Borrowings stood at ₹905.62 crore and cash at ₹75.2 crore, while inventories were ₹433.97 crore, trade receivables ₹284.17 crore and trade payables ₹140.22 crore. The previous balance-sheet date and year-earlier cash-flow figures were not provided.

What else did the company announce?

The company’s BSE filing of 29 October 2026 said its board considered and approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026. The filing enclosed the statutory auditor’s limited-review reports and a press release, and said the board meeting began at 2.45 P.M. IST and concluded at 4.10 P.M. IST.

A separate same-day filing enclosed the investor presentation for the post-earnings conference call scheduled for 30 October 2026. The supplied same-day filings did not mention a dividend, a fund raise or any appointment. An earlier BSE filing of 22 October 2026 had said the board would meet on 29 October 2026 and that the trading window would remain closed until 31 October 2026.

What did Milky Mist Dairy Food's management say?

Management maintained its outlook for Q3 FY27, saying 40%-plus growth was expected to continue, with weighted volume growth of approximately 28%-30% and value growth of about 42%. Management expected overall gross margins around 34% through pricing and product mix and said the 15% EBITDA margin was expected to be sustained. It also expected more of the approximately 1.5%-2% price impact recognised in Q2 to be reflected in Q3 FY27.

Management said the protein category’s sales contribution was expected to increase from 12% to 18%-20% over the next 2-3 years. It said paneer could exhaust the existing 150 TPD capacity in 24-30 months, prompting evaluation of another 200 TPD for 350 TPD total. The Baramati plant was targeted to operate within three years, with sourcing prebuilt to 1 lakh litres/day.

Management said online channels rose to 21% of H1 sales from 11% as quick commerce and distribution expanded. The company was evaluating capacity additions and prioritised protein-led growth, distribution productivity, manufacturing expansion and profitable growth. Management identified milk-cost inflation, regional procurement concentration, quick-commerce storage compliance, analogue-paneer regulation and competition in high-protein products as operating risks.

The transcript filed on 5 November 2026 covered the earnings call held on 30 October 2026. Management said paneer production was 100 tons per day against installed capacity of 150 tons per day, with utilisation close to 65%, and that cheese and curd sales grew 31% and 22% year-on-year. Yogurt was the fastest-growing Q2 category, with revenue growth of 168% year-on-year.

How did Milky Mist Dairy Food shares react?

The filing was released after market hours on 29 October 2026. Milky Mist Dairy Food’s shares fell 1.2% after 5 minutes, 3.0% after 15 minutes and 1.5% after 30 minutes. The reaction-day close was 0.9% above the previous close, while the shares were down 0.1% from that pre-results close by the next day’s close.

The Nifty Microcap 250 fell 2.5% on the reaction day and 1.1% by the next day’s close. No industry median or excess-return comparison was available. At the earlier results on 31 August 2026, the reaction-day move was 10.2%.