Parag Milk Foods Limited
₹232.80-₹12.05 (-4.9%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹3,436 Cr
- P/E
- 22.2x
- EV / EBITDA
- 17.5x
- Revenue
- ₹3,367 Cr
- Net margin
- 3.0%
- ROCE
- 13.9%
Price chart
Technical chartScreen technicals →-25.2% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -14.2%
- 3M
- +8.7%
- 6M
- +3.8%
- 1Y
- -25.2%
- 5Y
- +70.0%
52-week range
Day change -₹12.05 (-4.9%) from ₹245 to ₹233 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in PARAGMILK, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong short-term liquidity — current ratio of 4.57x
Concerns1
- Low return on equity of 10.0%
Rule-based from financial data. Not advice.
About the company
Parag Milk Foods Limited processes, manufactures, and sells milk and milk products in India and worldwide. The company offers ghee, milk, paneer, sweets, curd, butter, dairy whitener, milk powder, and gulab jamun mix products.
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Parag Milk Foods Limited processes, manufactures, and sells milk and milk products in India and worldwide. The company offers ghee, milk, paneer, sweets, curd, butter, dairy whitener, milk powder, and gulab jamun mix products. It also offers flavoured cheese wedges, spreads, slices, and angles, as well as flavored yoghurt, bocconcini, slim milk, fresh cream, buttermilk, double toned milk, lassi, flavoured milk, milk shakes, beverages, UHT milk, and other dairy products. In addition, the company provides sports nutrition products, whey protein, protein bar, sesame and groundnut chikki, and lactose related products. Further, it sells its products under the Gowardhan, Go, Topp Up, Pride of Cows, and Avvatar brand names. Parag Milk Foods Limited was incorporated in 1992 and is headquartered in Pune, India.
- Sector
- Consumer Discretionary
- Shares outstanding
- 12.5 Cr shares
- ISIN
- INE883N01014
- BSE code
- 539889
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹3,436 Cr
- P/E
- 22.2x
- P/B
- 2.8x
- EV / EBITDA
- 17.5x
- EV / Sales
- 1.2x
- P/S
- 1.1x
- Earnings yield
- 4.5%
- 52-week high
- ₹371.05
- 52-week low
- ₹179.65
Profitability
- Operating margin
- 6.5%
- Net margin
- 3.0%
- EBITDA margin
- 6.8%
- ROE
- 10.0%
- ROCE
- 13.9%
- ROA
- 5.2%
- Dividend payout
- 6.0%
- Tax rate
- -11.0%
- Other income, % of PBT
- 10.8%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹3,367 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 9.0%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 5.3%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹211 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 21.3%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 34.8%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 0.2%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹76.0 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -142.5%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹2.00 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 11.6%
Solvency and efficiency
- Current ratio
- 4.57
- Debt / Equity
- 0.57
- Debt / Assets
- 0.30
- Debt / EBITDA
- 2.49
- Interest coverage
- 2.81
- Financial leverage
- 1.91
- CFO / Net profit
- 0.83
- Cash / Market cap
- 39.0%
- Cash per share
- ₹106.78
- Asset turnover
- 1.75
- Fixed asset turnover
- 10.00
- Capital intensity
- 0.10
- Debtor days
- 28 days
- Inventory turnover
- 3.65
- Cash conversion cycle
- 92 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹4 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹3,114 Cr |
| Sales | Operating profit | ₹253 Cr |
| Operating profit | Interest | ₹85 Cr |
| Operating profit | Depreciation | ₹60 Cr |
| Operating profit | Profit before tax | ₹108 Cr |
| Other income | Profit before tax | ₹27 Cr |
| Profit before tax | Tax and other | ₹11 Cr |
| Profit before tax | Net profit | ₹124 Cr |
Revenue and net profit
Revenue grew 9.0% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹1,792 Cr | ₹17 Cr |
| FY2022 | ₹2,026 Cr | -₹529 Cr |
| FY2023 | ₹2,853 Cr | ₹68 Cr |
| FY2024 | ₹3,090 Cr | ₹92 Cr |
| FY2025 | ₹3,367 Cr | ₹124 Cr |
Cash flows
FY2025: ₹187 Cr from operations, ₹57.0 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹100 Cr | ₹66 Cr |
| FY2022 | -₹146 Cr | -₹157 Cr |
| FY2023 | -₹179 Cr | -₹261 Cr |
| FY2024 | ₹76 Cr | ₹51 Cr |
| FY2025 | ₹187 Cr | ₹57 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹3,367 Cr+9.0%1Y
- Net profit
- ₹124 Cr+34.8%1Y
- Cash from operations
- ₹187 Cr
- Free cash flow
- ₹57 Cr+11.8%1Y
- Revenue CAGR, 5Y
- 5.3%
- EBITDA CAGR, 5Y
- -0.4%
- Net profit CAGR, 5Y
- 0.2%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹3,367 Cr | ₹253 Cr | — | ₹124 Cr | ₹187 Cr | ₹57 Cr | 11.9% | +9.0% | +34.8% |
Monthly returns
Month-by-month returns of PARAGMILK across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹1,925 Cr |
| Equity capital | ₹119 Cr |
| Reserves | ₹921 Cr |
| Borrowings | ₹579 Cr |
| Other liabilities | ₹307 Cr |
| Assets | ₹1,925 Cr |
| Fixed assets | ₹340 Cr |
| Capital work in progress | ₹12 Cr |
| Investments | ₹109 Cr |
| Other assets | ₹1,464 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
PARAGMILK trades at 22.2x earnings against a peer median of 55.4x (a 60% discount).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Parag Milk Foods LimitedPARAGMILKthis companyP/E ↓ discount | ₹3,436 Cr | 22.2x | 2.8x | 10.0% | 17.5x |
| Orient Electric LimitedORIENTELEC | ₹3,508 Cr | 39.9x | 5.0x | 11.7% | 19.3x |
| Centum Electronics LtdCENTUM | ₹3,430 Cr | 50.3x | 5.9x | 11.5% | 39.9x |
| Flair Writing Industries LimitedFLAIR | ₹3,358 Cr | 28.4x | 3.2x | 13.3% | 16.6x |
| Borosil LimitedBOROLTD | ₹3,341 Cr | 38.4x | 3.9x | 11.4% | 22.7x |
| Wonderla Holidays LimitedWONDERLA | ₹3,320 Cr | 40.4x | 1.9x | 14.4% | 13.0x |
| MPS LimitedMPSLTD | ₹3,280 Cr | 28.5x | 10.1x | 28.6% | 20.9x |
| D P ABHUSHAN LIMITEDDPABHUSHAN | ₹3,259 Cr | 21.7x | 6.4x | 26.1% | 32.4x |
| GNG Electronics LimitedEBGNG | ₹3,254 Cr | 138.0x | 6.5x | 14.1% | 90.5x |
| Peer median | — | 55.4x | 6.3x | 11.8% | 36.3x |
Year-to-date ROI
PARAGMILK since 1 January, against earlier years.
Historical volatility
PARAGMILK's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 7.0% |
| FY2022 | -21.0% |
| FY2023 | 5.0% |
| FY2024 | 7.0% |
| FY2025 | 8.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹3,367 Cr |
| Costs | |
| Interest | ₹85 Cr |
| Expenses | ₹3,114 Cr |
| Operating profitOperating Profit | ₹253 Cr |
| Other income and charges | |
| Profit before tax | ₹135 Cr |
| Tax | |
| Net profitNet Profit | ₹124 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹1,925 Cr |
| Equity capitalEquity Capital | ₹119 Cr |
| Reserves | ₹921 Cr |
| Borrowings | ₹579 Cr |
| Other liabilitiesOther Liabilities | ₹307 Cr |
| AssetsTotal Assets | ₹1,925 Cr |
| Fixed assetsFixed Assets | ₹340 Cr |
| Capital work in progressCWIP | ₹12 Cr |
| Investments | ₹109 Cr |
| Other assetsOther Assets | ₹1,464 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹187 Cr |
| Investing cash flowCash from Investing Activity | -₹130 Cr |
| Financing cash flowCash from Financing Activity | -₹56 Cr |
| Change in cashNet Cash Flow | ₹2 Cr |
Learn while you research
Academy chapters picked for Parag Milk Foods Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 04 Cyclical vs Defensive StocksConsumer staples behave defensively across the business cycle.6 min read
- 05 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read
- 06 How to Read a Cash-Flow StatementProfit can be manipulated; cash flow rarely lies.7 min read