Parag Milk Foods Limited
PMFL is promoted by the Shah family, who have been in the dairy business for more than two decades. It has three milk processing plants—one each at Manchar (Maharashtra), Palamner (Andhra Pradesh) and Sonipat (Haryana). PMFL is present across the sup...
Key Metrics
EPS
7.60
Current ratio
1.86
Debt/Equity
0.80
Debt/EBITDA
3.29
Interest coverage ratio
2.12
Operating Cashflow to total debt
0.14
Financials
Pros & Cons
Exclusive on TAP Bonds
Here's what we like about this company and potential risks we have identified.
Pros
Extensive experience of promoters with strong procurement network
Established brand and distribution network
Diversified product profile with sizeable market share in clarified butter and cheese segments
Cons
High working capital intensity of business
Moderate debt protection metrics
High competitive intensity of the industry; vulnerability of OPM to volatility in milk prices
Vulnerability to external factors such as adverse weather conditions and disease outbreaks
Liquidity position: Stretched
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About Parag Milk Foods Limited bond.
This comprehensive profile covers key factual information about Parag Milk Foods Limited. PMFL is promoted by the Shah family, who have been in the dairy business for more than two decades. It has three milk processing plants—one each at Manchar (Maharashtra), Palamner (Andhra Pradesh) and Sonipat (Haryana). PMFL is present across the supply chain of procurement, processing and marketing of liquid milk and milk products under its brands, Gowardhan, Go, Pride of Cows, Avvatar, Slurp and Topp Up. The dairy products manufactured and marketed by the company include clarified butter, cheese, butter, SMP, curd, whey powder, yoghurt, UHT milk, flavoured milk and traditional dessert mixes. Its wholly-owned subsidiary, BDFPL’s unique farm-to-home initiative, branded as Pride of Cows, allows customers to access milk processed without any human interference using latest technologies and best global practices. BDFPL has also introduced a range of certified organic fertilisers by commercialising cow manure. EPS in Mar-2024 was 7.60. Current ratio in Mar-2024 was 1.86. Debt/Equity in Mar-2024 was 0.80. Debt/EBITDA in Mar-2024 was 3.29. Interest coverage ratio in Mar-2024 was 2.12. Operating Cashflow to total debt in Mar-2024 was 0.14. Total revenue for Mar-2025(E) was ₹3,801.84. Net income for Mar-2025(E) stood at ₹497.07. Total assets as of Mar-2024 were ₹1,886.92. Operating cash flow for Mar-2024 was ₹99.11. The company’s borrowing relationships include Union Bank of India (₹N/A Cr), Union Bank of India (₹N/A Cr), IDBI Bank Limited (₹N/A Cr), The Shamrao Vithal Cooperative Bank (₹N/A Cr), Union Bank of India (₹N/A Cr), IDBI Bank Limited (₹N/A Cr), (₹N/A Cr). Peers and comparison entities consist of Parag Milk Foods Limited, Nestle India Limited, Britannia Industries Limited, Vishal Mega Mart Limited. As of Dec 2024, promoters hold N/A% while others hold N/A% of equity. Key strengths include: Extensive experience of promoters with strong procurement network ; Established brand and distribution network; Diversified product profile with sizeable market share in clarified butter and cheese segments; ; . Key risks include: High working capital intensity of business; Moderate debt protection metrics; High competitive intensity of the industry; vulnerability of OPM to volatility in milk prices; Vulnerability to external factors such as adverse weather conditions and disease outbreaks; Liquidity position: Stretched. Leadership team details include Devendra Shah (The founder and chairman of Parag Milk Foods), Akshali Shah (The executive director of Parag Milk Foods), Pritam Shah (The managing director and CFO of Parag Milk Foods), Dnyanesh Darshane (An independent non-executive director of Parag Milk Foods), Narendra Ambwani (An independent non-executive director of Parag Milk Foods), Radhika Dudhat (An independent non-executive director of Parag Milk Foods), Nitin Dhavalikar (An independent non-executive director of Parag Milk Foods), Nikhil Vora (A non-executive, non-independent director of Parag Milk Foods), Virendra Varma (The company secretary and compliance officer of Parag Milk Foods), Rahul Kumar Srivastav (The chief operating officer of Parag Milk Foods), Binod Das (The head of sales of Parag Milk Foods), Bheemanappa Manthale (The president of plant operations of Parag Milk Foods), Gajanan Patil (The general manager of operations of Parag Milk Foods), Lakshya Rastogi (The head of modern trade business of Parag Milk Foods). This detailed corporate overview is structured to provide a thorough understanding of all available data points, enhance search visibility, and support investor analysis.