Parag Milk Foods Limited has announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The company achieved its highest-ever quarterly revenue of ₹1,013.3 crore, representing a 14% year-on-year (YoY) increase driven by strong performance in core categories and a 123% surge in its “New Age Business”. However, significant milk price inflation of approximately 20% YoY led to a compression of margins, resulting in an 18% YoY decline in Profit After Tax (PAT) to ₹30.3 crore. On a quarter-on-quarter (QoQ) basis, revenue grew by 0.5% from ₹1,007.9 crore in Q2 FY26, while net profit decreased by 33.7% from ₹45.7 crore reported in the previous quarter.

Founded in 1992, Parag Milk Foods is a leading Indian dairy-FMCG company known for its popular brands such as Gowardhan, Go, Pride of Cows, and Avvatar. The company specializes in value-added products, maintaining a 35% market share in branded cheese and 22% in branded cow ghee. In 2025, the company unveiled a strategic investment plan of ₹400 crore to double its cheese production capacity and scale its high-growth “new-age” segments, including its 100% vegetarian whey protein brand, Avvatar. Recent updates include the expansion of its Bhagyalaxmi Dairy Farm to reach a daily output of 2.5 lakh litres by 2027 and a focus on premiumization to meet rising consumer demand for health and nutrition-oriented products. Notable institutional investors as of December 31, 2025, include the International Finance Corporation (4.59%) and Sixth Sense Ventures (4.46%).