Parag Milk Foods Ltd. (IN:PARAGMILK)
:PARAGMILK
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Parag Milk Foods Ltd.
(PARAGMILK)
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Rating:56Neutral
Price Target:
₹228.00
▼(-22.69% Downside)
Action:Reiterated
Date:05/10/26
The score is primarily held back by inconsistent cash-flow conversion (free cash flow negative again in FY2026) despite improved profitability and a better leverage trend. Technicals are broadly neutral with limited longer-term trend support, and valuation is relatively expensive with a low dividend yield.
Positive Factors
Revenue & earnings recovery
The company moved from a loss in FY2022 to positive net income and steady revenue growth through FY2026. This sustained recovery indicates improving product-market fit and operational scaling, reducing insolvency risk and enabling reinvestment into growth and premium product lines.
Negative Factors
Inconsistent cash generation
Volatile operating cash flow and a return to negative free cash flow in FY2026 weaken internal funding for capex, working capital and debt repayment. For a perishable, working-capital intensive business this raises reliance on external financing and risks undercutting planned investments or margin recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & earnings recovery
The company moved from a loss in FY2022 to positive net income and steady revenue growth through FY2026. This sustained recovery indicates improving product-market fit and operational scaling, reducing insolvency risk and enabling reinvestment into growth and premium product lines.
Read all positive factors
Parag Milk Foods Ltd. (PARAGMILK) vs. iShares MSCI India ETF (INDA)
Market Cap
₹26.23B
Dividend Yield0.33%
Average Volume (3M)144.83K
Price to Earnings (P/E)16.3
Beta (1Y)0.95
Revenue Growth11.23%
EPS Growth9.51%
CountryIN
Employees1,772
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)9.99
Shares Outstanding125,109,550
10 Day Avg. Volume71,491
30 Day Avg. Volume144,829
Financial Highlights & Ratios
PEG Ratio1.49
Price to Book (P/B)1.75
Price to Sales (P/S)0.58
P/FCF Ratio-79.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)17.33
Revenue Forecast (FY)₹44.94B
Parag Milk Foods Ltd. Business Overview & Revenue Model
Company Description
Parag Milk Foods Limited processes, manufactures, and sells milk and milk related products in India. It offers ghee, milk, paneer, curd, butter, dairy whitener, and gulab jamun mix products under the Gowardhan brand; and flavored cheese wedges, sp...
How the Company Makes Money
Parag Milk Foods primarily makes money by selling dairy and dairy-based food products, with revenue recognized from the sale of finished goods to channel partners (distributors/retailers) and directly to institutional and food-service customers. K...
Parag Milk Foods Ltd. Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
63
Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 35.26B | 38.17B | 34.32B | 31.39B | 28.54B | 20.55B |
| Gross Profit | 8.99B | 7.65B | 8.85B | 7.34B | 5.42B | -2.43B |
| EBITDA | 2.83B | 2.57B | 2.53B | 2.23B | 1.65B | -4.17B |
| Net Income | 1.19B | 1.35B | 1.19B | 905.83M | 532.54M | -5.32B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 22.81B | 20.33B | 18.91B | 16.68B | 13.95B |
| Cash, Cash Equivalents and Short-Term Investments | 250.50M | 182.70M | 250.50M | 275.74M | 152.97M | 840.05M |
| Total Debt | 0.00 | 6.07B | 6.54B | 6.45B | 6.06B | 5.34B |
| Total Liabilities | -10.23B | 10.22B | 10.09B | 9.79B | 8.60B | 8.41B |
| Stockholders Equity | 10.23B | 12.59B | 10.23B | 9.12B | 8.08B | 5.54B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -275.50M | 881.90M | 379.28M | -2.55B | -1.85B |
| Operating Cash Flow | 0.00 | 785.90M | 2.12B | 991.13M | -1.94B | -1.49B |
| Investing Cash Flow | 0.00 | -1.01B | -1.32B | -529.30M | -875.59M | -196.81M |
| Financing Cash Flow | 0.00 | 141.10M | -783.50M | -494.23M | 2.12B | 2.41B |
Parag Milk Foods Ltd. Technical Analysis
Negative
294.90
Price Trends
210.21
Positive
229.66
Negative
257.55
Negative
Market Momentum
-0.82
Positive
44.12
Neutral
10.59
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PARAGMILK, the sentiment is Negative. The current price of 294.9 is above the 20-day moving average (MA) of 220.34, above the 50-day MA of 210.21, and above the 200-day MA of 257.55, indicating a neutral trend. The MACD of -0.82 indicates Positive momentum. The RSI at 44.12 is Neutral, neither overbought nor oversold. The STOCH value of 10.59 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:PARAGMILK.
Parag Milk Foods Ltd. Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹2.71T | 50.90 | ― | 0.97% | 14.62% | 9.14% | |
68 Neutral | ₹30.87B | -5,541.37 | ― | 0.42% | 11.90% | -21.63% | |
65 Neutral | ₹1.28T | 51.56 | ― | 1.24% | 6.74% | 16.28% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
59 Neutral | ₹205.05B | 57.75 | ― | 0.61% | 14.48% | 27.72% | |
57 Neutral | ₹30.30B | 18.12 | ― | 0.54% | 9.47% | -20.12% | |
56 Neutral | ₹26.23B | 16.26 | ― | 0.33% | 11.23% | 9.51% |
* Consumer Defensive Sector Average
IN:PARAGMILK
Parag Milk Foods Ltd.
210.55
-0.68
-0.32%
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Parag Milk Foods Ltd. Corporate Events
Parag Milk Foods lifts FY26 profit as premium and protein brands surge
May 8, 2026
Parag Milk Foods reported FY26 consolidated revenue of ₹3,818 crore, up 11% year-on-year with 5% volume growth, alongside an 8% rise in gross profit and a 6% increase in EBITDA despite slight margin compression. Profit after tax grew 14% to ...
Parag Milk Foods Releases FY26 Investor Presentation and Schedules Earnings Call
May 8, 2026
Parag Milk Foods Ltd. has released an investor presentation detailing its audited standalone and consolidated financial results for the quarter and full year ended March 31, 2026. The presentation has been shared with stock exchanges and uploaded ...
Parag Milk Foods Releases Investor Presentation on FY 2026 Results
May 8, 2026
Parag Milk Foods Ltd. has released an investor presentation detailing its audited standalone and consolidated financial results for the quarter and full year ended March 31, 2026. The presentation, aligned with SEBI disclosure norms, will support ...
Parag Milk Foods Clears FY26 Results, Dividend and ESOP-linked Share Issue
May 7, 2026
Parag Milk Foods’ board has approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, with the statutory auditors issuing an unmodified opinion. The board also recommended a final divid...
Parag Milk Foods Promoter Group Entity Seeks Reclassification as Public Shareholder
May 4, 2026
Parag Milk Foods Ltd. has disclosed that Vitalia Tradeglob Private Ltd., a member of its promoter group, has requested reclassification from the ‘promoter group’ category to the ‘public’ shareholder category under Regulatio...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.