Parag Milk Foods Ltd
Parag Milk Foods Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management said on revenue, margins and capex.
Guidance rank: #25 of 30 in Food Products
See the sector's top 10 — free with your mobile number.
The short version
The company aspires to achieve INR 10,000 crore in revenue in the medium term, indicating strong future growth ambitions. Parag Milk Foods aspires to increase EBITDA margins from the current ~8.9% to low double digits (13-14%) within the next 24 months, aiming for sustainable margin expansion through improved product mix, operational efficiencies, and premium pricing power.
From Parag Milk Foods Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- The company aspires to achieve INR 10,000 crore in revenue in the medium term, indicating strong future growth ambitions.
- Core categories like ghee, cheese, and paneer are experiencing double-digit volume growth (e.g., 14% volume growth in core categories) driven by both market expansion and gaining market share.
- New age business (primarily protein products) is growing rapidly, with recent quarterly growth of 79%, contributing about 9% to total revenue, showing strong volume and value growth in line.
- Expansion in distribution and deeper penetration into existing markets support volume growth, with pan-India presence across most product lines.
- Growth is supported by shifting consumer preference from unorganized to organized branded dairy products, aiding revenue expansion.
2 more points from Parag Milk Foods Ltd's call on revenue
Create a free account to keep reading this call
Profitability & Margins
See what Parag Milk Foods Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- The company is focusing on capital expenditure funded through internal cash generation, as indicated by deployment of cash flow into capex.
- There is an emphasis on growing cheese production to secure raw material (whey) necessary for future protein products, which are a strategic priority.
- Plans to expand procurement scale from 15 lakh litres to 40 lakh litres, requiring capital investment in procurement infrastructure.
2 more points from Parag Milk Foods Ltd's call on capex
Create a free account to keep reading this call
Top-ranked in Food Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Parag Milk Foods Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
See what Parag Milk Foods Ltd said on order book & pipeline — free account, 30 seconds.
Parag Milk Foods Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹945 Cr, net profit ₹32 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
Full financials →Continue your research
What Parag Milk Foods Ltd's management said in earlier quarters
Others in Food Products this season
- Shivashrit Foods Ltd (Q2 FY26)
For H1 FY26, revenue from operations was ₹61.18 Cr, up 20% YoY from ₹50.79 Cr in H1 FY25 (Page 4). Key investor presentation takeaways from Shivashrit Foods's Q
- HMA Agro Industries Ltd (Q2 FY26)
Half-year revenue increased by 57% YoY, with consolidated EBITDA margin expanding from 1.48% to 6.10%. Key concall takeaways from HMA Agro Industries Ltd's Q2…
- Megastar Foods Ltd (Q2 FY26)
9,000 lakhs in Q2FY25, indicating ~53.3% YoY growth (Page 6). Key investor presentation takeaways from Megastar Foods's Q2 FY26 investor presentation — and how
- Dodla Dairy Ltd (Q2 FY26)
Value-added product sales (excluding bulk) showing positive momentum with a 22% YoY growth in Q2 FY '26. Key concall takeaways from Dodla Dairy Ltd's Q2 FY26…
Potential multibaggers · Q2 FY27
Potential multibaggers in Food Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Arthneeti Pro · Annual
Parag Milk Foods Ltd and 15K+ more earnings calls,
for less than your morning chai
a day
Every earnings call, ranking and concall Q&A across all four results seasons.
Secure Razorpay payment · instant access
Frequently Asked Questions
What were Parag Milk Foods Ltd Q2 FY26 results?
The company aspires to achieve INR 10,000 crore in revenue in the medium term, indicating strong future growth ambitions. Parag Milk Foods aspires to increase EBITDA margins from the current ~8.9% to low double digits (13-14%) within the next 24 months, aiming for sustainable margin expansion through improved product mix, operational efficiencies, and premium pricing power.
What is Parag Milk Foods Ltd share price analysis?
Parag Milk Foods Ltd currently shows a neutral. The stock trades at a P/E of 25.8 with a market cap of ₹3,469 Cr. Investors should review the full earnings analysis for detailed insights.
Is Parag Milk Foods Ltd planning capital expenditure?
The company is focusing on capital expenditure funded through internal cash generation, as indicated by deployment of cash flow into capex.
Keep Parag Milk Foods Ltd on your radar — track it to get its next earnings analysis in your feed.
This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.