Parag Milk Foods

₹202.8 -0.8 | 0.4%

WEBSITE BSE:539889 NSE : PARAGMILK 10 May, 16:01

Market Cap ₹2421 Cr.

Stock P/E 23.1

P/B 2.7

Current Price ₹202.8

Book Value ₹ 76

Face Value 10

52W High ₹290

Dividend Yield 0%

52W Low ₹ 93.8

Edit Ratio

Parag Milk Foods Research see more...

Parag Milk Foods Limited: Favourable Dynamics and Product Launches Make Up A Case

Overview Inc. Year: 1992Industry: Consumer Food

Parag Milk Foods Ltd, is an India-based private sector dairy corporation. The Company offers a number of products, which encompass cheese, ghee, whey proteins, paneer, curd, yoghurt, milk products, liquid milk, milk-based liquids and milk powders. The Company's brands encompass Gowardhan, under which conventional dairy merchandise, including ghee, are advertised; Go, underneath which western life-style dairy products, consisting of cheese are advertised; Pride of Cows, underneath which top class milk is sold and Topp Up, below which flavoured milk is advertised.

Parag Milk Foods Share Price

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Peer Comparison

Parag Milk Foods Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	532	539	562	691	665	736	801	750	798	801
Other Income	4	4	10	31	0	5	9	6	6	6
Total Income	536	542	573	722	665	740	810	756	804	807
Total Expenditure	479	490	1148	681	627	702	764	709	745	738
Operating Profit	57	53	-575	41	38	38	46	46	58	69
Interest	13	14	13	14	14	15	12	17	19	20
Depreciation	13	14	14	13	14	12	18	15	15	15
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	31	25	-602	14	10	11	16	15	24	33
Provision for Tax	9	6	-11	3	-1	1	-6	-6	-1	-1
Profit After Tax	23	19	-592	10	11	9	22	21	25	34
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	23	19	-592	10	11	9	22	21	25	34
Adjusted Earnings Per Share	2.4	2	-62.2	1.1	1.1	0.8	1.9	1.8	2.1	2.9

Parag Milk Foods Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	926	1087	1444	1645	1731	1955	2396	2438	1842	2072	2893	3150
Other Income	2	1	2	2	13	13	10	8	14	21	45	27
Total Income	929	1088	1446	1647	1744	1967	2406	2446	1855	2093	2938	3177
Total Expenditure	842	1006	1337	1497	1643	1762	2172	2227	1719	2510	2774	2956
Operating Profit	87	82	109	150	101	205	234	219	136	-417	163	219
Interest	40	44	47	50	33	36	36	38	47	51	55	68
Depreciation	26	28	28	33	49	51	50	54	49	54	57	63
Exceptional Income / Expenses	0	0	0	0	-19	0	0	0	0	0	0	0
Profit Before Tax	20	11	34	67	-1	119	148	127	41	-522	51	88
Provision for Tax	-2	-4	2	19	-6	32	27	33	20	10	-2	-14
Profit After Tax	22	15	32	47	5	87	121	94	21	-532	53	102
Adjustments	0	-0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	22	15	32	47	5	87	121	94	21	-532	53	102
Adjusted Earnings Per Share	0	0	0	0	0.6	10.4	14.4	11.2	2.5	-55.9	4.5	8.7

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	40%	6%	8%	12%
Operating Profit CAGR	0%	-9%	-4%	6%
PAT CAGR	0%	-17%	-9%	9%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	116%	14%	-3%	NA%
ROE Average	8%	-21%	-7%	7%
ROCE Average	9%	-8%	1%	7%

Parag Milk Foods Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	80	94	124	362	625	712	827	911	928	554	808
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	233	273	172	125	70	64	65	48	33	260	255
Other Non-Current Liabilities	8	15	28	48	4	3	-12	7	10	18	16
Total Current Liabilities	370	438	600	486	578	650	560	715	708	563	588
Total Liabilities	690	820	924	1020	1278	1429	1439	1681	1679	1395	1668
Fixed Assets	243	242	291	345	359	426	440	466	473	459	436
Other Non-Current Assets	101	142	97	63	82	43	65	39	20	28	103
Total Current Assets	346	436	536	613	837	960	935	1177	1186	908	1129
Total Assets	690	820	924	1020	1278	1429	1439	1681	1679	1395	1668

Parag Milk Foods Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	2	1	3	4	5	41	31	7	22	7	5
Cash Flow from Operating Activities	16	46	88	59	-17	19	140	-66	100	-149	56
Cash Flow from Investing Activities	-57	-59	-29	-32	-87	-16	-73	-29	-47	-20	-90
Cash Flow from Financing Activities	41	15	-58	-26	140	-12	-91	111	-69	241	439
Net Cash Inflow / Outflow	-0	2	1	1	36	-10	-24	15	-15	73	405
Closing Cash & Cash Equivalent	1	3	4	5	41	31	7	22	7	80	410

Parag Milk Foods Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	0	0	0	0	0.57	10.38	14.38	11.16	2.47	-55.93	4.54
CEPS(Rs)	10.06	8.79	12.47	11.46	6.4	16.41	20.36	17.55	8.26	-50.29	9.43
DPS(Rs)	0	0	0	0	0.5	0.75	1	0.5	0.5	0	0
Book NAV/Share(Rs)	0	0	0	0	74.38	84.8	98.48	108.45	110.49	57.93	68.53
Core EBITDA Margin(%)	9.15	7.46	7.42	9.01	5.06	9.85	9.33	8.64	6.65	-20.16	3.96
EBIT Margin(%)	6.56	5.04	5.62	7.07	1.86	7.91	7.66	6.77	4.75	-21.66	3.55
Pre Tax Margin(%)	2.2	1.01	2.37	4.06	-0.06	6.09	6.17	5.21	2.21	-24	1.71
PAT Margin (%)	2.38	1.34	2.23	2.88	0.27	4.45	5.04	3.84	1.12	-24.48	1.78
Cash Profit Margin (%)	5.2	3.87	4.14	4.91	3.1	7.04	7.13	6.04	3.76	-22.01	3.7
ROA(%)	3.41	1.93	3.69	4.87	0.41	6.43	8.42	6	1.23	-34.64	3.48
ROE(%)	32.65	16.75	29.51	19.48	0.96	13.04	15.7	10.79	2.25	-72.01	7.86
ROCE(%)	11.7	8.97	12.31	16.4	3.93	16.37	17.73	13.88	6.67	-39.57	8.6
Receivable days	52.39	52.17	42.25	45.13	43.34	39.85	40.4	43.58	45.82	23.85	17.93
Inventory Days	54.94	55.36	50.82	53.72	73.91	80.9	68.62	82.03	131.56	98.46	64.26
Payable days	50.32	50.91	58.75	59.88	76.13	90.57	73.44	63.89	87.67	50.22	32.17
PER(x)	0	0	0	0	402.36	24.07	18.18	5.73	42.79	0	15.99
Price/Book(x)	0	0	0	0	3.07	2.95	2.66	0.59	0.96	1.66	1.06
Dividend Yield(%)	0	0	0	0	0.22	0.3	0.38	0.78	0.47	0	0
EV/Net Sales(x)	0.54	0.52	0.38	0.27	1.2	1.2	1.01	0.37	0.68	0.65	0.49
EV/Core EBITDA(x)	5.81	6.9	5.11	3.01	20.63	11.38	10.37	4.16	9.18	-3.24	8.72
Net Sales Growth(%)	3.39	17.34	32.85	13.92	5.2	12.93	22.57	1.76	-24.45	12.49	39.62
EBIT Growth(%)	7.05	-9.79	48.12	43.33	-72.34	380.63	18.67	-10.09	-47.05	-638.99	122.55
PAT Growth(%)	45.49	-33.84	120.81	46.91	-89.95	1730.45	38.67	-22.39	-77.9	-2671.82	110
EPS Growth(%)	0	0	0	0	0	1730.59	38.59	-22.39	-77.9	-2367.58	108.12
Debt/Equity(x)	6.15	5.89	4.4	1.07	0.42	0.41	0.29	0.44	0.41	0.94	0.73
Current Ratio(x)	0.93	1	0.89	1.26	1.45	1.48	1.67	1.65	1.67	1.61	1.92
Quick Ratio(x)	0.56	0.56	0.54	0.7	0.71	0.8	0.84	0.76	0.69	0.76	0.94
Interest Cover(x)	1.51	1.25	1.73	2.35	0.97	4.33	5.13	4.33	1.87	-9.24	1.93
Total Debt/Mcap(x)	0	0	0	0	0.14	0.14	0.11	0.74	0.43	0.56	0.69

Parag Milk Foods Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	40.75	40.75	40.75	36.19	41.63	41.63	41.63	41.63	41.63	42.61
FII	4.37	4.47	3.42	12.95	11.73	10.23	8.76	8.75	8.83	8.95
DII	15.1	15.1	15.1	4.2	3.84	3.84	7.2	7.96	8.36	8.42
Public	39.79	39.69	40.74	46.66	42.81	44.3	42.41	41.66	41.18	40.03
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	3.89	3.89	3.89	3.89	4.89	4.89	4.89	4.89	4.89	5.09
FII	0.42	0.43	0.33	1.39	1.38	1.2	1.03	1.03	1.04	1.07
DII	1.44	1.44	1.44	0.45	0.45	0.45	0.85	0.93	0.98	1
Public	3.79	3.79	3.89	5.01	5.02	5.2	4.98	4.89	4.83	4.78
Others	0	0	0	0	0	0	0	0	0	0
Total	9.54	9.54	9.54	10.74	11.74	11.74	11.74	11.74	11.74	11.94

Pros

Debtor days have improved from 50.22 to 32.17days.
Company has reduced debt.

Cons

Promoter holding is low: 42.61%.
Company has a low return on equity of -21% over the last 3 years.
The company has delivered a poor profit growth of -9% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Parag Milk Foods

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Parag Milk Foods Research see more...

Overview Inc. Year: 1992Industry: Consumer Food

Parag Milk Foods Share Price

Alert Data

Quarterly Price

Peer Comparison

Parag Milk Foods Quarterly Results

Parag Milk Foods Profit & Loss

Growth Rates

Parag Milk Foods Balance Sheet

Parag Milk Foods Cash Flow

Parag Milk Foods Ratios

Parag Milk Foods Shareholding Pattern

Parag Milk Foods News

Top Unlisted Companies & InstaBuy Companies

Empire Spices and Foods ltd

IPO

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