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Parag Milk Foods Ltd.
(PARAGMILK)
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Rating:53Neutral
Price Target:
₹262.00
▲(22.17% Upside)
Action:Reiterated
Date:08/22/26
The score is driven primarily by improving profitability and a gradually strengthening balance sheet, tempered by weak and volatile cash generation (negative free cash flow again in FY2026). Technical indicators add downside risk due to negative momentum, while valuation is moderate with a low dividend yield offering limited support.
Positive Factors
Revenue and profit recovery
The return to sustained revenue growth and positive, rising net income indicates that the business has recovered from the FY2022 downturn and is scaling. Continued top-line expansion can support reinvestment, improve operating leverage, and strengthen earnings capacity over the next several quarters.
Negative Factors
Inconsistent cash generation
The renewed decline in operating cash flow and negative free cash flow show that accounting earnings are not converting consistently into cash. Higher working-capital needs or heavier reinvestment could limit internal funding, increase financing reliance, and constrain durable shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profit recovery
The return to sustained revenue growth and positive, rising net income indicates that the business has recovered from the FY2022 downturn and is scaling. Continued top-line expansion can support reinvestment, improve operating leverage, and strengthen earnings capacity over the next several quarters.
Read all positive factors
Parag Milk Foods Ltd. (PARAGMILK) vs. iShares MSCI India ETF (INDA)
Market Cap
₹32.41B
Dividend Yield0.41%
Average Volume (3M)213.94K
Price to Earnings (P/E)25.5
Beta (1Y)0.94
Revenue Growth10.91%
EPS Growth3.74%
CountryIN
Employees1,772
SectorGeneral
Sector StrengthN/A
IndustryPackaged Foods
Share Statistics
EPS (TTM)10.54
Shares Outstanding125,609,550
10 Day Avg. Volume481,661
30 Day Avg. Volume213,935
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)12.65
Revenue Forecast (FY)₹42.43B
Parag Milk Foods Ltd. Business Overview & Revenue Model
Company Description
Established in 1992 and headquartered in Mumbai, India, Parag Milk Foods Limited is a key entity in the dairy sector, focusing on the production, processing, and sale of an extensive range of milk and dairy-derived products. The company markets it...
How the Company Makes Money
Parag Milk Foods makes money primarily by selling branded dairy products and dairy ingredients through retail and institutional channels. Its core revenue model is built on: (1) Branded consumer dairy: The company procures raw milk from farmers/mi...
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 | 39.11B | 38.17B | 34.32B | 31.39B | 28.54B | 20.55B |
| Gross Profit | 8.40B | 7.65B | 8.85B | 7.34B | 5.42B | -2.43B |
| EBITDA | 3.07B | 3.05B | 2.53B | 2.23B | 1.65B | -4.17B |
| Net Income | 1.30B | 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 | 182.70M | 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 | -12.59B | 10.22B | 10.09B | 9.79B | 8.60B | 8.41B |
| Stockholders Equity | 12.59B | 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
Positive
214.45
Price Trends
236.31
Positive
231.05
Positive
235.78
Positive
Market Momentum
9.39
Positive
58.27
Neutral
47.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PARAGMILK, the sentiment is Positive. The current price of 214.45 is below the 20-day moving average (MA) of 259.21, below the 50-day MA of 236.31, and below the 200-day MA of 235.78, indicating a bullish trend. The MACD of 9.39 indicates Positive momentum. The RSI at 58.27 is Neutral, neither overbought nor oversold. The STOCH value of 47.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:PARAGMILK.
Parag Milk Foods Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹53.40B | 24.73 | ― | 0.80% | 30.90% | 56.57% | |
74 Outperform | ₹2.61T | 68.96 | ― | 0.87% | 19.30% | 22.64% | |
73 Outperform | ₹1.19T | 45.67 | ― | 1.83% | 6.63% | 18.70% | |
67 Neutral | ₹253.14B | 73.20 | ― | 0.86% | 17.32% | 25.12% | |
58 Neutral | ₹38.40B | 28.00 | ― | 0.61% | 11.53% | -20.83% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹32.41B | 25.51 | ― | 0.41% | 10.91% | 3.74% |
* General Sector Average
IN:PARAGMILK
Parag Milk Foods Ltd.
268.90
0.49
0.18%
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1,364.90
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Parag Milk Foods Ltd. Corporate Events
Parag Milk Foods Publishes AGM, E-Voting Notice Ahead of September Meeting
Sep 6, 2026
Parag Milk Foods Ltd. has announced that it has published newspaper notices regarding its 34th Annual General Meeting, scheduled for September 29, 2026, including details of e-voting arrangements for shareholders. The publications in English and M...
Parag Milk Foods Publishes FY 2025-26 Integrated Report, Sets Date for 34th AGM
Sep 5, 2026
Parag Milk Foods Ltd. has notified stock exchanges and shareholders that its Integrated Annual Report for financial year 2025-26 and the notice of its 34th Annual General Meeting are now accessible online. The company is holding the AGM on Septemb...
Parag Milk Foods to Double Cheese Capacity, Appoints New CFO
Aug 6, 2026
Parag Milk Foods’ board has approved a brownfield expansion of its cheese manufacturing capacity by about 60 metric tonnes per day, doubling output from roughly 60 MT to 120 MT daily, with an investment of around ₹105 crore. This move ...
Parag Milk Foods Doubles Cheese Capacity and Appoints New CFO
Aug 6, 2026
Parag Milk Foods Ltd. approved a brownfield expansion of its cheese manufacturing capacity by about 60 metric tonnes per day, doubling total capacity to roughly 120 metric tonnes per day with an estimated investment of ₹105 crore. This move ...
Parag Milk Foods to Double Cheese Capacity in Rs 105-Crore Expansion
Aug 6, 2026
Parag Milk Foods Ltd., a major dairy FMCG player with pan-India operations and brands including Go, Gowardhan, Pride of Cows and Avvatar, continues to build on its integrated farm-to-home model and focus on value-added dairy and nutrition products...
Parag Milk Foods Doubles Cheese Capacity, Names New CFO
Aug 6, 2026
Parag Milk Foods Ltd. has approved a brownfield expansion of its cheese manufacturing capacity, doubling output from roughly 60MT per day to 120MT per day with an investment of about ₹105 crore, signaling a push to capture growing demand in ...
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.