Parag Milk Foods Doubles Cheese Capacity to 120 MT/day, Appoints Rakesh Kothari as CFO
Parag Milk Foods is doubling its cheese manufacturing capacity to 120 MT/day with a ₹105 crore investment, targeting completion by FY28. Rakesh Kothari has been appointed CFO, effective August 6, 2026. For Q1 FY27, revenue grew 11% YoY to ₹945 crore, while PAT declined 20% YoY to ₹22 crore.
The doubling of cheese manufacturing capacity is a significant strategic expansion that will directly impact future revenue and market share. The appointment of a CFO is a critical leadership change.
The company is expanding its core capacity and appointing a new CFO, indicating growth and strengthening of management. Despite a PAT decline, revenue growth and strong performance in the New Age Business segment are positive indicators.
Parag Milk Foods Limited (PMFL) announced a significant expansion of its cheese manufacturing capacity, doubling it from 60 MT/day to 120 MT/day through a brownfield expansion. This strategic move, estimated to cost ₹105 crore funded by internal accruals and debt, is driven by the growing demand for cheese and whey protein and is expected to be completed by FY28. The company also appointed Mr. Rakesh Kothari as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective August 6, 2026, bringing over 25 years of experience in finance.
In its financial results for the quarter ended June 30, 2026 (Q1 FY27), PMFL reported a consolidated revenue of ₹945 crore, an 11% year-on-year increase, with a 3% volume growth. The New Age Business segment, comprising Pride of Cows and Avvatar, showed robust growth of 59% YoY, contributing 13% to the overall turnover. While PBT remained flat YoY at ₹29 crore, PAT declined by 20% YoY to ₹22 crore, primarily due to the impact of current taxes. Gross profit rose by 11% YoY to ₹258 crore, with gross margins maintained at 27.3% despite a 13% YoY increase in milk prices. The company highlighted its resilience through measured price increases and a favourable product mix. Management expressed optimism about future growth, supported by anticipated improved milk availability and seasonal demand, and reiterated their commitment to operational efficiencies and strengthening their premium and nutrition-led portfolio.
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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 high impact, which is the band that most often changes something.
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