 | |
| Type | Public |
|---|---|
| BSE: 539889 NSE: PARAGMILK | |
| Industry | Dairy |
| Founded | 1992 |
| Headquarters | , |
Area served | India |
Key people | Devendra Shah (Chairman)[1] |
| Products | Milk, butter, cheese, ghee, cottage cheese, yogurt and whey protein |
| Revenue |  ₹1,923 crore (US$240 million) (2018)[2] |
| ₹1,865 crore (US$230 million) (2018)[2] | |
| Total assets | ₹1,367 crore (US$170 million) (2018)[2] |
Number of employees | 1,787 (as on 31 March 2018)[2] |
| Website | paragmilkfoods.com |
Parag Milk Foods is an Indian company that manufactures, markets and sells milk and milk products. The company is India's second largest producer of cheese under its brand Go and the country's largest producer of cow ghee under its brand Govardhan.[3] In 2015, the company began producing whey protein powder and since then has launched branded protein powder products as well.[3][4] As of 2017, the company's daily procurement of milk was 1.2 million litres.[5]
History
Parag Milk Foods started as a dairy in Manchar with a 20,000 litre capacity in 1992. It concentrated on a niche segment, producing skimmed milk powder and by 2004 became India's largest exporter of the skimmed milk powder. However, the company faced a challenge when the Government of India banned export of milk powder on account of local milk shortage. Thereafter the company began investing in cheese production in 2008.[6] The company invested in a new facility to produce 1200 tonnes of cheese monthly at a time when the country only produced 600 tonnes of cheese a month. Consequently, there was a huge increase in cheese consumption in India with the expansion of quick-service restaurants in the country.[3]
In 2008, Motilal Oswal and IDFC Alternative Fund came in as investors in the company. As of 2013, Cheese, Ghee and Yogurt contributed 75% of the company's annual revenue. The company has a second dairy in Palamaner, Andhra Pradesh.[6]
In 2016, the company turned public with an initial public offering listing on National Stock Exchange and Bombay Stock Exchange.[7][8]
Brands
The company's brands include Gowardhan, Go, Pride of Cows and Topp Up. The company launched the Go brand in 2009, Pride of Cows in 2012 and Topp Up in 2013.[9] The company sells milk, ghee, dahi and paneer under the Govardhan brand and cheese, milk, chaas, lassi, yoghurt under Go brand.[10] The company is India's second-largest producer of cheese under its brand Go and the country's largest producer of cow ghee under its brand Govardhan.[3]
The company supplies milk directly from farms to customers homes under the brand Pride of Cows. The milk is produced at Bhagyalaxmi Dairy in Manchar, and procured from 3,800 Holstein Freisan cows. The milk is supplied to households in Mumbai, Pune, Surat and is airlifted to customers in New Delhi daily. The company uses an invitation-only mobile application subscription-based distribution model for this brand.[11][12] In June 2019, Pride of Cows claimed to become the first Indian brand to sell fresh milk in Singapore. The company airlifts the milk from Pune to Singapore daily and uses a home delivery model to reach the product to the end consumer.[13]
In 2015, the company began producing whey protein powder.[4] In 2019, the Parag Milk Foods introduced whey protein produced from cow milk and branded it under the names Go Protein Power and Avvatar.[3] Parag Milk Foods' Avvatar whey protein brand is the first 100% vegetarian whey protein made in India.[14] The company also sells milk based energy drinks under the brand Topp Up.[15]
Acquisitions
In 2018, Parag Milk Foods acquired Danone's facility in Sonipat, Haryana after Danone decided to shut its dairy operations in India.[16][17] Parag Milk Foods paid a consideration of ₹30 crore (US$3.8 million) to Danone for the facility which it now uses to service the North India market.[18] The facility has a milk processing capacity of 75,000 litres a day along with 15 tonnes of yogurt.[16]
References
- ^ Ananya Saha, Ananya (12 June 2018). "'Swimming is my favourite workout': Devendra Shah, Chairman, Parag Milk Foods". The Financial Express. Retrieved 5 May 2019.
- ^ a b c d "Parag Milk Foods Limited Annual Report 2017-18" (PDF). Retrieved 5 May 2019.
- ^ a b c d e Singh, Rajiv (25 April 2019). "Parag Milk Foods: Whey to go". Forbes India. Retrieved 5 May 2019.
- ^ a b Kshirsagar, Alka (6 April 2015). "Parag forays into whey powder production". The Hindu Businessline. Retrieved 1 December 2022.
- ^ "Parag Milk Q4 net profit up 86% at Rs 29.95 crore". The Economic Times. PTI. 30 May 2017. Retrieved 5 May 2019.
- ^ a b "How Parag Milk Foods Got it Right with Cheese". Forbes India. Retrieved 5 May 2019.
- ^ Mudgill, Amit (19 May 2016). "Modest debut: Parag Milk Foods lists at Rs 217.50, a premium of 1.2% over issue price". The Economic Times. Retrieved 5 May 2019.
- ^ "Parag Milk shares stage decent debut, surge 14% against issue price". Business Today. Retrieved 5 May 2019.
- ^ Mishra, Lalatendu (5 January 2016). "Parag Milk Foods unveils Rs 150-cr expansion". The Hindu. Retrieved 5 May 2019.
- ^ "Rs 120 per litre! This farm-to-home milk will be airlifted daily from Pune to Delhi". Business Today. PTI. Retrieved 5 May 2019.
- ^ "Parag Milk Foods Launches Premium Milk Brand 'Pride Of Cows' In Delhi; Worth Rs 120 Per Litre". BW Businessworld. Retrieved 5 May 2019.
- ^ "Parag Milk to airlift premium milk brand to Delhi-NCR". The Hindu Business Line. Retrieved 5 May 2019.
- ^ "Parag Milk Foods launches premium milk brand in Singapore". The Hindu Business Line. PTI. 10 June 2019. Retrieved 20 June 2019.
- ^ ETBrandEquity (16 February 2017). "Parag Milk Foods launches 'Avvataar' a made-in-India whey protein range - ET BrandEquity". ETBrandEquity. Retrieved 1 December 2022.
- ^ Kulshrestha, Ashish (17 May 2017). "Dairies, aerated drink companies eye high-margin milk-based beverages". The Economic Times. Retrieved 5 May 2019.
- ^ a b Mitra, Sounak (20 April 2018). "Parag Milk buys Danone dairy factory in Haryana". Live Mint. Retrieved 5 May 2019.
- ^ Pinto, Viveat Susan (23 April 2018). "Danone's loss is Parag's gain: Are dairy MNCs facing challenges in India?". Business Standard India. Retrieved 5 May 2019.
- ^ "Parag Milk to buy Danone's facility for Rs 30 crore". The Economic Times. 19 April 2018. Retrieved 5 May 2019.
External links
This page was last edited on 17 August 2023, at 16:46