Parag Milk Foods Expands Cheese Capacity by ₹105 Crore, Appoints Rakesh Kothari as CFO
Parag Milk Foods will invest ₹105 Crore to double its cheese manufacturing capacity to 120 MT/day by FY28. Rakesh Kothari has been appointed as CFO and KMP, effective August 7, 2026. The company also approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.
The capacity expansion and investment are significant for future growth. The appointment of a new CFO is also a material event for the company.
The announcement includes positive developments such as capacity expansion and a significant financial investment, as well as a key managerial appointment.
Parag Milk Foods Limited has announced a significant expansion of its cheese manufacturing capacity, involving an investment of approximately ₹105 Crore. This brownfield expansion will increase the existing capacity by an additional 60 MT/day, doubling it to approximately 120 MT/day. The expansion is planned to be completed by Financial Year 2027-28 and will be financed through internal accruals, borrowings, or lease.
In a key managerial change, the Board of Directors has approved the appointment of Mr. Rakesh Kothari as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective August 7, 2026. Mr. Kothari, who holds an MBA in General Management and has over 25 years of experience in banking and corporate finance, has been serving as President - Finance & Accounts at the company since August 18, 2025. Following this appointment, Mr. Pritam Shah will be relieved of his additional duties as Interim CFO, effective August 6, 2026, but will continue as Managing Director and KMP.
The Board also considered and approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The meeting of the Board of Directors commenced at 7:00 PM IST and concluded at 8:35 PM IST on August 6, 2026.
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