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PARAG MILK FOODS LIMITED

Active
Updated: 19 Mar 2026

Parag Milk Foods Limited is a leading dairy company in India that specializes in the production and marketing of a wide range of dairy products. It offers a diverse portfolio including milk, cheese, yogurt, and ghee, catering to both retail consumers and businesses while focusing on quality, nutrition, and innovation in its offerings.

Parag Milk Foods Limited, is a listed public company incorporated on 29 December, 1992. It is classified as a public limited company and is located in , Maharashtra. It's authorized share capital is INR 200.00 cr and the total paid-up capital is INR 125.11 cr.

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Subscription Plans
Industry and products
Manufacturing (Food products and beverages)
  • dahi, butter, curd, and gulab jamun mix products, ghee, milk, dairy whitener, paneer
Company size
Auth Capital
₹ 200.0 Cr
Paidup Capital
₹ 125.1 Cr
Revenue
₹ 3250-3500 cr
# Key metrics of Parag Milk Foods Limited - All rupee values in INR crores. Based on March 2025 numbers. | Metric | Value | Change | |---|---|---| | Auth Capital | ₹ 200.0 Cr | | | Paidup Capital | ₹ 125.1 Cr | | | Revenue | ₹ 3250-3500 cr | | | Total Revenue | ₹3,394.0 | 9.53% | | EBITDA | ₹253.0 | 27.38% | | Net Profit | ₹123.5 | 34.38% | | Networth | ₹1,039.8 | 12.57% | | Borrowings | ₹554.8 | 3.16% | | Assets | ₹1,925.1 | 8.99% | | Gross Margin | 24.7% | 1.78 | | Operating Margin | 7.5% | 1.08 | | Net Profit Margin | 3.6% | 0.67 | | Return on Equity | 11.9% | 1.93 | | ROCE | 18.2% | 3.45 | | Debt to Equity | 0.5 | -0.05 |
Key Metrics

** All rupee values in INR crores. Based on March 2025 numbers.

Total Revenue
9.53%
₹ 3,394.0
EBITDA
27.38%
₹ 253.0
Net Profit
34.38%
₹ 123.5
Networth
12.57%
₹ 1,039.8
Borrowings
3.16%
₹ 554.8
Assets
8.99%
₹ 1,925.1
Gross Margin
1.78
24.7 %
Operating Margin
1.08
7.5 %
Net Profit Margin
0.67
3.6 %
Return on Equity
1.93
11.9 %
ROCE
3.45
18.2 %
Debt to Equity
-0.05
0.5
Sales
Mar 2025
Net worth
Mar 2025

Locations

indian flag India (92)
State Type Address

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People

Designation Name DIN/PAN Tenure
Whole-time Director Devendra Prakash Shah
Shareholder
01127319 33 years
Managing Director Pritam Prakash Shah
Shareholder
01127247 33 years
Director Nikhil Kishorchandra Vora
Shareholder
05014606 5 years
Whole-time Director Akshali Shah
Shareholder
06575079 3 years
Director Dnyanesh Vishnu Darshane 08515431 3 years
Director Amitabha Mukhopadhyay 01806781 1 years

Financial Highlights

** All numbers in INR crores
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Sales 1,791.7 2,025.6 2,853.2 3,089.8 3,367.4
Operating profit 126.7 -428.7 139.0 198.6 253.0
Net profit 17.5 -529.2 68.5 91.9 123.5
Gross margin 25.2 -1.6 19.1 22.9 24.7
Operating margin 7.1 -21.2 4.9 6.4 7.5
Net margin 1.0 -26.0 2.4 3.0 3.6
Networth 919.8 549.1 818.2 923.7 1,039.8
Borrowings 333.4 472.0 527.0 537.7 554.8
Assets 1,638.2 1,320.7 1,583.0 1,766.3 1,925.1
Debt to equity 0.4 0.9 0.6 0.6 0.5
Current ratio 1.7 1.7 2.0 2.0 2.1
ROE 1.9 -96.4 8.4 9.9 11.9
Days payable 79.0 37.0 21.0 29.0 32.0
WC days 100.0 64.0 73.0 77.0 77.0
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Margins

Gross margin
Operating margin
Net margin

Balance Sheet

Standalone
Consolidated
%
** All numbers in INR crores
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 83.9 95.2 117.2 119.2 119.2
Reserves 835.9 453.9 701.0 804.5 920.6
Borrowings + 333.4 472.0 527.0 537.7 554.8
Long term borrowings 20.9 230.6 204.6 183.1 197.0
Short term borrowings 312.6 241.4 322.4 354.6 357.7
Trade payables + 288.8 208.1 129.8 186.1 223.1
Days payable 79.0 37.0 21.0 29.0 32.0
Other liabilities + 96.2 91.5 108.0 118.7 107.4
Other non-current liabilities 12.4 16.3 13.0 13.2 24.2
Other current liabilities 83.8 75.2 95.1 105.5 83.2
Total liabilities 1,638.2 1,320.7 1,583.0 1,766.3 1,925.1
Fixed Assets + 381.6 352.8 320.0 318.2 351.8
Tangible assets 378.8 349.5 311.2 307.7 338.3
CWIP 0.9 2.8 8.6 9.7 12.2
Intangible assets 1.9 0.4 0.2 0.9 1.2
LT loans and advances - - 31.5 2.9 20.0
Other non-current assets 82.9 87.7 115.5 148.6 179.2
Current assets + 1,173.7 880.3 1,115.9 1,296.5 1,374.1
Inventories 687.3 468.2 558.3 598.3 563.3
Trade receivables 155.9 119.7 159.9 235.3 249.4
Cash and cash equivalents 6.5 79.3 13.0 10.0 11.6
ST loans and advances - - - - -
Other current assets 323.9 213.1 384.7 452.9 549.7
Total assets 1,638.2 1,320.7 1,583.0 1,766.3 1,925.1
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Total assets

Profit & Loss

Standalone
Consolidated
%
** All numbers in INR crores
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Sales + 1,791.7 2,025.6 2,853.2 3,089.8 3,367.4
Sales growth % -25.07 13.05 40.86 8.29 8.98
Expenses + 1,759.9 2,552.3 2,821.2 3,015.7 3,259.2
Cost of goods 1,340.1 2,058.5 2,307.2 2,382.8 2,536.9
Employee cost 75.3 77.3 88.2 104.4 133.1
Other costs 249.6 318.5 318.9 404.0 444.4
Operating profit + 126.7 -428.7 139.0 198.6 253.0
Operating margin % 7.1 -21.2 4.9 6.4 7.5
Other income 6.8 9.0 35.2 8.8 26.6
Interest 45.5 47.0 52.9 68.8 85.1
Depreciation 49.4 50.9 54.1 55.7 59.7
Exceptional items - - - - -
Profit before tax 38.7 -517.7 67.2 82.8 134.8
Tax 21.2 11.4 -1.3 -9.1 11.3
Profit - disc. ops - - - - -
Net profit 17.5 -529.2 68.5 91.9 123.5
Net margin % 1.0 -26.0 2.4 3.0 3.6
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Revenue from operations

Ratios

Standalone
Consolidated
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Solvency +
Total Debt/Equity 0.4 0.9 0.6 0.6 0.5
Net Debt/Equity 0.4 0.7 0.6 0.6 0.5
Total Debt/Assets 0.2 0.4 0.3 0.3 0.3
Total Assets/Equity 1.8 2.4 1.9 1.9 1.9
Liquidity +
Current Ratio 1.7 1.7 2.0 2.0 2.1
Quick Ratio 0.7 0.8 1.0 1.1 1.2
Interest Coverage 2.8 -9.1 2.6 2.9 3.0
Performance
Gross Margin 25.2 -1.6 19.1 22.9 24.7
Operating Margin 7.1 -21.2 4.9 6.4 7.5
Net Margin 1.0 -26.0 2.4 3.0 3.6
Return +
Return on Equity 1.9 -96.4 8.4 9.9 11.9
Pre-tax ROCE 8.9 -67.7 9.6 14.8 18.2
Return on Assets 1.1 -40.1 4.3 5.2 6.4
Pre-tax ROIC 6.2 -50.9 6.4 9.8 12.2
Efficiency +
Days Payable 79.0 37.0 21.0 29.0 32.0
Days Inventory 187.0 83.0 88.0 92.0 81.0
Days Receivable 32.0 22.0 20.0 28.0 27.0
Fixed Asset Turnover 4.7 5.7 8.9 9.7 9.6
Total Asset Turnover 1.1 1.5 1.8 1.8 1.8
Working Capital
Cash Conversion Cycle 140.0 68.0 87.0 91.0 76.0
Working Capital Days 100.0 64.0 73.0 77.0 77.0
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Ratios

Current ratio
Debt/equity ratio

Charges on assets

Bank wise
Charges
1

Catalyst Trusteeship Limited

No. of Loans: 1

Total Amount : 500.0 cr

2

IDBI Trusteeship Services Limited

No. of Loans: 1

Total Amount : 150.0 cr

3

SVC Co-Operative Bank

No. of Loans: 1

Total Amount : 45.0 cr

4

Bajaj Finance Limited

No. of Loans: 1

Total Amount : 35.0 cr

5

Union Bank of India

No. of Loans: 1

Total Amount : 33.0 cr

6

MERCEDES-BENZ FINANCIAL SERVICES INDIA PRIVATE LIMITED

No. of Loans: 2

Total Amount : 1.9 cr

7

State Bank of India

No. of Loans: 1

Total Amount : 1.5 cr

8

HDFC Bank Limited

No. of Loans: 3

Total Amount : 1.4 cr

9

Toyota Financial Services India Limited

No. of Loans: 1

Total Amount : 0.9 cr

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Charges

Catalyst Trusteeship Limited
IDBI Trusteeship Services Limited
SVC Co-Operative Bank
Bajaj Finance Limited
Others

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Subsidiary Companies

Name State / Country Incorporation Year Paidup Capital
BHAGYALAXMI DAIRY FARMS PRIVATE LIMITED Maharashtra 2003 ₹ 7.8 Cr

Tofler Score

Very Good
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Fair
Good
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Risk

Severe Risk
  • No risks identified
Moderate Risk
  • LOW CASH BALANCE
Low Risk
  • No risks identified
About Tofler Score
Tofler Score measures the quality of performance and integrity of a company. It is dependent on three key factors - Sustainability, Governance, and Growth.

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Peers / Similar Companies

Heritage Foods Limited Telangana
Dodla Dairy Limited Telangana
Vrs Foods Limited Delhi
Schreiber Dynamix Dairies Private Limited Maharashtra

Peers

Registered Details

CIN

L15204PN1992PLC070209

PAN

AABCP0425G

Incorporation

1992, 33.2 years

Company Email

cs[at]parag[dot]com

Paid up Capital

₹ 125.1 Cr

Authorised Capital

₹ 200.0 Cr

AGM

Sep 2024

Type

Public
Others

FAQ - PARAG MILK FOODS LIMITED

What is the incorporation date of PARAG MILK FOODS LIMITED?

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The incorporation date of PARAG MILK FOODS LIMITED is 29 December, 1992

What is the authorized share capital of PARAG MILK FOODS LIMITED?

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The authorized share capital of PARAG MILK FOODS LIMITED is INR ₹ 200.0 Cr.

What is the paid-up capital of PARAG MILK FOODS LIMITED?

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The paid-up capital of PARAG MILK FOODS LIMITED is INR ₹ 125.1 Cr.

What is the registered address of PARAG MILK FOODS LIMITED?

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The registered address of PARAG MILK FOODS LIMITED is Flat No.1,Plot No.19,Nav Rajasthan Soc., behind Ratna Memorial Hospital,S.B. Road, Shiva, ji Nagar, Pune, Maharashtra, India, 411016 - 411016

What is the CIN number of PARAG MILK FOODS LIMITED?

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The CIN number of PARAG MILK FOODS LIMITED is L15204PN1992PLC070209.

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