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Parag Milk Foods

PARAGMILK NSE
₹291.98 +42.46 (+17.02%)
P/E
28.21
View as Markdown
MCP
Close 4 Nov 2026 ₹291.98 −28.27 −8.83% 1Y
Start ₹320.25

Key Fundamentals

MicrocapFood ProductsFMCG

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
13.40%
Debt to Equity
0.48
EPS (TTM)
₹10.35
Book Value
₹97.04
Market Cap
—
P/E (TTM)
28.21
P/B
3.01
ROE
12.10%
Dividend Yield
0.44%
EBITDA
₹310 Cr
52W High
₹376.95
52W Low
₹177.84
Day Range
₹240.13 – ₹299.00
Volume
1,53,94,904

Peer Comparison

Fast Moving Consumer Goods › Food Products › Dairy Products

Parag Milk Foods peer comparison
Hatsun Agro Product
₹1,046.2063.79₹23,626 Cr11.810.97%19.20%15.20%₹10,413 Cr₹366 Cr
Milky Mist Dairy Food
₹302.5584.04₹22,941 Cr10.060.00%31.60%13.60%₹3,765 Cr₹235 Cr
Kwality Walls
₹39.82—₹8,971 Cr13.920.00%−1.01%—₹1,909 Cr−₹334 Cr
Dodla Dairy
₹985.9524.30₹6,129 Cr3.450.49%16.40%16.70%₹4,316 Cr₹246 Cr
Vadilal Industries
₹7,377.5024.21₹5,347 Cr5.770.23%19.60%22.00%₹1,676 Cr₹219 Cr
Heritage Foods
₹370.6530.06₹3,435 Cr3.030.68%12.60%14.80%₹4,934 Cr₹115 Cr
Parag Milk Foods (this company)
₹291.9828.21₹3,370 Cr3.010.44%12.10%13.40%₹3,911 Cr₹130 Cr
Median 7 companies₹370.6529.14₹6,129 Cr5.770.44%16.40%15.00%₹3,911 Cr₹219 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

43 Weak

Data confidence 100/100

insider_selling

Category scores

Quality
37
Poor
Returns, margins, earnings quality 22% weight
Valuation
41
Weak
Cheap vs sector & own history 24% weight
Growth
58
Good
Sales & profit trajectory 9% weight
Financial Health
43
Weak
Solvency, leverage, coverage 9% weight
Momentum
79
Strong
Trend strength, vol-adjusted 12% weight
Ownership
42
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has delivered good profit growth of 44.7% CAGR over last 5 years

Weaknesses

3
  • Stock is trading at 2.65 times its book value
  • Tax rate seems low
  • Company has a low return on equity of 11.8% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish2512
OscillatorsNeutral252
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
61.31
Neutral
MACD (12,26,9)
−4.60
Bearish
SMA (50)
265.15
Bullish
SMA (200)
232.96
Bullish

As of

Analyst Rating

Based on 1 analysts
BUY100%

1 of 1 analyst rates Buy, 0 Hold, 0 Sell.

As of

BUY
1
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+8.78%
5Y+15.69%
3Y+9.69%
1Y+11.25%
TTM+10.92%

Net profit

Net profit growth by window
10Y+11.13%
5Y+45.09%
3Y+36.57%
1Y+13.45%
TTM+9.24%

Operating cash flow

Operating cash flow growth by window
10Y+9.71%
5Y+8.30%
3YTurned positive
1Y−29.72%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−2.42 pp
5Y−0.08 pp
3Y+2.61 pp
1Y−0.64 pp
TTM−0.66 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹1,731 Cr
Mar 2018₹1,955 Cr
Mar 2019₹2,396 Cr
Mar 2020₹2,438 Cr
Mar 2021₹1,842 Cr
Mar 2022₹2,072 Cr
Mar 2023₹2,893 Cr
Mar 2024₹3,139 Cr
Mar 2025₹3,432 Cr
Mar 2026₹3,818 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹5.00 Cr
Mar 2018₹87.00 Cr
Mar 2019₹121 Cr
Mar 2020₹94.00 Cr
Mar 2021₹21.00 Cr
Mar 2022−₹532 Cr
Mar 2023₹53.00 Cr
Mar 2024₹91.00 Cr
Mar 2025₹119 Cr
Mar 2026₹135 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹323 Cr +4.0% vs FY26
Reported High Mean Low

AI News Digest

121d ago

TL;DR: Limited recent news flow for Parag Milk Foods. The only update confirms clean promoter holdings with no pledged shares, which removes one governance concern. With no material operational or financial news, the near-term outlook remains data-dependent on upcoming quarterly results.

Neutral 1
  • No promoter encumbrance in FY26 Jun 17

    Parag Milk Foods promoters held 40.57% stake with zero encumbrance in FY26. Devendra Prakash Shah is the largest promoter with 16.15% shareholding.

Quarterly Results

₹ Cr
PARAGMILK quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
750
798
801
790
758
871
885
918
852
1,008
1,013
945
945
1,241
Expenses
709
743
736
753
702
802
811
856
794
937
944
886
876
1,142
Operating Profit
40
56
65
37
56
69
74
62
58
71
68
59
68
99
OPM %
5%
7%
8%
4.7%
7%
8%
8%
7%
7%
7%
7%
6%
7%
8%
Other Income
6
6
6
8
6
7
6.03
13
8
18
3
19
1
2
Interest
17
21
22
16
19
23
26
25
20
20
21
21
22
27
Depreciation
15
15
15
15
16
18
16
17
16
19
18
18
18
19
PBT
15
24
33
14
27
36
38
33
29
50
33
40
29
55
Tax %
−41%
−3%
−4%
27%
−2%
18%
4%
19%
5%
10%
9%
20%
25%
24%
Net Profit
21
25
34
10
27
29
36
26
28
46
30
32
22
42
EPS (₹)
1.82
2.15
2.91
0.82
2.29
2.45
3.02
2.2
2.31
3.65
2.36
2.58
1.76
—

Sep 2026: from the results filed on 3 Nov 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
PARAGMILK profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,443
1,645
1,731
1,955
2,396
2,438
1,842
2,072
2,893
3,139
3,432
3,818
3,911
Expenses
1,330
1,494
1,639
1,758
2,171
2,225
1,715
2,508
2,773
2,936
3,179
3,559
3,643
Operating Profit
113
151
92
197
225
213
126
−436
120
202
254
258
267
OPM %
8%
9%
5%
10%
9%
9%
7%
−21%
4.2%
6%
7%
7%
7%
Other Income
−4
−2
−11
9
9
6
12
20
45
23
40.25
46
42
Interest
47
50
33
36
36
38
46
52
57
79
93
81
83
Depreciation
28
33
49
51
50
54
52
54
57
60
67
71
73
PBT
34
67
−1
119
148
127
41
−522
51
86
133
152
152
Tax %
6%
29%
−524%
27%
18%
26%
49%
2%
−4%
−6%
10%
11%
—
Net Profit
32
47
5
87
121
94
21
−532
53
91
119
135
130
EPS (₹)
6.72
6.72
0.57
10.35
14.35
11.14
2.46
−55.83
4.54
7.59
9.95
10.79
10.35
Div. Payout %
0%
0%
88%
7%
7%
4%
20%
0%
0%
7%
10%
10%
—

Balance Sheet

₹ Cr
PARAGMILK balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
16
70
84
84
84
84
84
95
117
119
119
125
Reserves
108
291
541
628
743
827
844
459
691
793
904
1,134
Borrowings
545
389
261
291
240
400
381
523
606
616
654
607
Other Liabilities
255
241
401
378
375
379
373
318
253
358
355
415
Total Liabilities
924
991
1,287
1,382
1,442
1,690
1,683
1,395
1,668
1,887
2,033
2,281
Fixed Assets
291
345
334
397
406
466
473
459
436
466
578
643
CWIP
28
28
21
20
29
7
3
10
45
69
19
37
Investments
0
0
0
1
1
1
1
0
5
5
5
5
Other Assets
604
618
933
964
1,007
1,217
1,205
926
1,182
1,348
1,431
1,596
Total Assets
924
991
1,287
1,382
1,442
1,690
1,683
1,395
1,668
1,887
2,033
2,281

Cash Flow

₹ Cr
PARAGMILK cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
88
59
−17
19
140
−66
100
−149
−190
102
212
149
Investing
−29
−32
−87
−16
−73
−30
−47
−26
−88
−53
−132
−98
Financing
−58
−26
140
−12
−91
111
−69
248
212
−53
−78
−60
Net Cash Flow
1
1
36
−10
−24
15
−15
73
−66
−3
1
−9
Free Cash Flow
58
31
−111
−45
52
−98
56
−185
−190
41
87
58
CFO/EBITDA
80
48
0
16
75
−15
96
31
−155
56
88
64

Ratios

PARAGMILK financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
43
52
37
47
42
45
32
22
21
28
28
23
Inventory Days
73
83
136
131
113
127
186
91
100
103
90
104
Days Payable
66
51
99
91
73
59
81
43
27
42
40
38
Cash Conversion Cycle
50
84
74
87
83
114
136
70
95
89
78
89
Working Capital Days
−18
26
33
49
55
65
91
44
66
67
49
51
ROCE %
13%
17%
7%
17%
18%
14%
7%
−39%
9%
11%
14%
13%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Parag Milk Foods insights

64 extracted metrics across FY12–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 40.49%
  • Public 31.23%
  • Others 17.82%
  • FIIs 7.59%
  • DIIs 2.87%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Parag Milk Foods

What does Parag Milk Foods Ltd do?
Parag Milk Foods Ltd, founded in 1992 by Mr. Devendra Shah is involved in the development and promotion of 100% fresh cow’s milk and milk products under international brand names with a diverse portfolio in over 10 product categories.
Where is Parag Milk Foods Ltd (PARAGMILK) listed?
Parag Milk Foods Ltd trades as PARAGMILK on the NSE and under code 539889 on the BSE.
Which sector does Parag Milk Foods Ltd belong to?
Parag Milk Foods Ltd is classified under the Food Products sector, in the Dairy Products industry.
What is the PE ratio of Parag Milk Foods Ltd?
Parag Milk Foods Ltd trades at a PE ratio of 28.21 as of 4 Nov 2026, on earnings per share of ₹10.35, against a book value of ₹97.04 per share.
What is the 52-week high and low of Parag Milk Foods Ltd?
Over the last 52 weeks Parag Milk Foods Ltd has traded between ₹177.84 and ₹376.95 as of 4 Nov 2026.
Does Parag Milk Foods Ltd pay dividends?
Parag Milk Foods Ltd has a dividend yield of 0.44%.
What is the Return on Equity (ROE) of Parag Milk Foods Ltd?
Parag Milk Foods Ltd reported a return on equity of 12.10%. Its debt-to-equity ratio is 0.48.

Company Information

Parag Milk Foods Ltd, founded in 1992 by Mr. Devendra Shah is involved in the development and promotion of 100% fresh cow’s milk and milk products under international brand names with a diverse portfolio in over 10 product categories.

Website paragmilkfoods.com
CEO Mr. Devendra Prakash Shah
Employees 1,969
Listed 19 May 2016
Face Value ₹10

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