Parag Milk Foods Approves ₹105 Cr Capacity Expansion and Appoints New CFO
Parag Milk Foods approved a ₹105 Crore expansion to double cheese capacity to 120 MT/day by FY28. Mr. Rakesh Kothari was appointed CFO effective August 7, 2026. The company also announced its Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026.
The capacity expansion and investment of ₹105 Crore are significant for the company's future growth, while the CFO appointment ensures strong financial leadership. These factors are likely to have a medium-term impact on the company's performance.
The company's decision to expand manufacturing capacity and appoint a new CFO are positive strategic moves indicating growth and stability.
Parag Milk Foods Limited announced key strategic decisions following its Board Meeting held on August 6, 2026. The Board has approved a significant brownfield expansion of its cheese manufacturing capacity by an additional 60 MT/day, effectively doubling the existing capacity to 120 MT/day. This expansion will involve an investment of approximately ₹105 Crore and is expected to be completed by the Financial Year 2027-28. The company plans to finance this expansion through internal accruals, borrowings, or lease arrangements, citing long-term growth prospects as the primary rationale.
In a significant management change, Mr. Rakesh Kothari has been appointed as the new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective August 7, 2026. This appointment was based on the recommendations of the Nomination and Remuneration Committee and the Audit Committee. Following this appointment, Mr. Pritam Shah will be relieved of his additional duties as Interim CFO, though he will continue in his role as Managing Director and KMP.
The Board also reviewed and approved the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026. The financial statements, along with the Limited Review Reports from the statutory auditors, were presented. The meeting commenced at 7:00 PM IST and concluded at 8:35 PM IST.
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Parag Milk Foods Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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