Employees: 3,400
Size Parag Milk Foods (PARAGMILK.NS) is an India Consumer Staples company (Food: Meat/Fish/Dairy) with a market value of $435M, the 901st largest of 1,058 India companies the cockpit tracks. Shares closed at ₹327.92 on 6 Nov 2026.
Performance Over six months the shares gained 42.2%, against -6.9% for the median peer and 0.0% for the India market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 13.1% over the last twelve months (peer median +8.2%); the operating margin is 5.3% (peer median 3.2%).
Valuation It trades at 27.6× forward earnings against a peer median of 27.0× (6th most expensive of 15).
Capital Return on invested capital runs 9.0 points below its cost of capital (16.9% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹41.4B | ₹37.7B | ₹33.4B | ₹31.0B | ₹28.6B |
| Revenue growth | — | +13% | +8% | +8% | — |
| Gross profit | ₹8.37B | ₹5.37B | ₹5.05B | ₹4.79B | ₹3.07B |
| EBITDA | ₹2.95B | ₹2.19B | ₹1.90B | ₹1.64B | ₹1.20B |
| Net income | ₹1.26B | ₹1.35B | ₹1.19B | ₹906M | ₹533M |
| Free cash flow | n/a | -₹276M | ₹46.5M | -₹314M | -₹760M |
| Capital expenditure | n/a | ₹1.09B | ₹1.26B | ₹612M | ₹869M |
| Total debt | ₹8.18B | ₹6.07B | ₹6.54B | ₹6.16B | ₹6.06B |
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| Measure | PARAGMILK.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.2% | -3.1% | 5th highest of 21 |
| 6-month return | +42.2% | -6.9% | 2nd highest of 21 |
| Distance from 52-week high | -13.0% | -25.0% | 6th highest of 21 |
| Revenue growth (TTM) | +13.1% | +8.2% | 8th highest of 21 |
| Operating margin | 5.3% | 3.2% | 4th highest of 21 |
| Forward P/E | 27.6× | 27.0× | 6th most expensive of 15 |
| ROIC minus cost of capital | -9.0 pp | -0.5 pp | 3rd lowest of 21 |
| EV / EBITDA | 16.7× | 15.7× | 6th cheapest of 11 |
| Net debt / EBITDA | 2.7× | 0.7× | 7th most indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Parag Milk Foods PARAGMILK.NS | India | $435M | +42% | +13% | 5% | 27.6× | n/a | n/a |
| HaiXin Foods 002702.SZ | China | $444M | -10% | +11% | -1% | n/a | 22.8% | -1.0% |
| Hunan Xiangjia Animal Husbandry 002982.SZ | China | $425M | -4% | +8% | 2% | 69.8× | n/a | n/a |
| Xinjiang Terun Dairy 600419.SS | China | $465M | +2% | +5% | 5% | 26.8× | -4.3% | +9.4% |
| Binggrae 005180.KS | South Korea | $472M | +9% | +4% | 9% | 6.3× | n/a | n/a |
| Masoval AS MAS.OL | Norway | $508M | +16% | -1% | 4% | 45.6× | 28.2% | +22.3% |
| Heritage Foods HERITGFOOD.NS | India | $366M | +2% | +14% | 3% | 27.1× | n/a | n/a |
| Panda Dairy 300898.SZ | China | $356M | -20% | +15% | 10% | 18.8× | 17.4% | +3.4% |
| High Liner Foods HLF.TO | Canada | $536M | +91% | +14% | 5% | 8.7× | 3.5% | +5.3% |
| Xinjiang Talimu Agriculture Development 600359.SS | China | $348M | -20% | -20% | -5% | n/a | n/a | n/a |
| Australian Agricultural AAC.AX | Australia | $553M | +2% | +9% | -47% | 94.6× | n/a | n/a |
| Henan Huaying Agricultural Development 002321.SZ | China | $569M | -16% | +24% | 1% | n/a | n/a | n/a |
| Kyokuyo 1301.T | Japan | $331M | -3% | +11% | 3% | n/a | n/a | n/a |
| Starzen 8043.T | Japan | $574M | +36% | +4% | 2% | 9.4× | n/a | n/a |
| Lifeway Foods LWAY | United States | $327M | -15% | +26% | 6% | 27.1× | n/a | n/a |
| Marudai Food 2288.T | Japan | $325M | -10% | +1% | 3% | n/a | n/a | n/a |
| Guangdong Yantang Dairy 002732.SZ | China | $310M | -20% | -5% | 3% | 8.8× | n/a | n/a |
| Joyvio Food 300268.SZ | China | $308M | -31% | -60% | 1% | n/a | n/a | n/a |
| Dodla Dairy DODLA.NS | India | $625M | -14% | +17% | 4% | 28.6× | 33.7% | +16.2% |
| Mama's Creations MAMA | United States | $632M | +2% | +54% | 5% | 46.4× | 17.6% | +33.3% |
| Canada Packers CPKR.TO | Canada | $300M | -23% | -7% | 3% | 18.9× | -0.2% | +3.9% |