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Parag Milk Foods Targets ₹10,000 Crore Revenue, Quadruples Paneer Capacity
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CNBC TV18•28-09-2026, 14:13
Parag Milk Foods Targets ₹10,000 Crore Revenue, Quadruples Paneer Capacity
- •Parag Milk Foods aims to achieve ₹10,000 crore revenue and 13-14% EBITDA margins within three to four years, according to Executive Director Akshali Shah.
- •The company plans to quadruple its paneer capacity and double cheese and whey protein output to meet growing demand and capitalize on the shift towards organized consumption.
- •Existing paneer facilities are at full utilization, prompting an expansion from 20 metric tonnes to 80 metric tonnes, targeting the ₹1 lakh crore domestic paneer market.
- •Despite higher milk prices, recent product price hikes are expected to improve margins beyond the 7.5% reported in Q1, which saw 11% revenue growth.
- •New age brands like Pride of Cows and Avvatar, offering higher margins, grew 91% last year and are projected to contribute 20-25% of total revenue.
Key Questions Answered
Parag Milk Foods aims to achieve a revenue of ₹10,000 crore over the next three to four years, with operating margins expected to expand into the early teens around 13% to 14%.
The company plans to quadruple its paneer manufacturing capacity from 20 metric tonnes to 80 metric tonnes per day with an investment of ₹100 crore, while doubling its cheese and whey protein output through a ₹105 crore board-approved investment by FY28.
New-age brands like Pride of Cows and the sports nutrition label Avvatar are major growth drivers, expanding significantly and increasing their revenue contribution from 3% to 13%, with projections to reach 20% to 25%.
