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Parag Milk Foods Limited Q3 FY26 earnings call summary

NSE: PARAGMILK · BSE: 539889

Earnings call of 5 Feb 2026, summarised by AI from the filing.

Parag Milk Foods Q3 FY26 revenue crossed ₹1,000 cr, up 14% year-on-year, with gross margin at 25.9% on 20% milk inflation.

Key takeaways

  1. Revenue Q3 FY26 revenue exceeded ₹1,000 cr for the second straight quarter, up 14% year-on-year with 8% volume growth.
  2. Driver Pride of Cows and Avvatar grew 123% year-on-year, crossing ₹100 cr quarterly revenue for the first time.
  3. Risk Milk prices expected to remain elevated in the near term, keeping pressure on margins.

Original filing on BSE

Parag Milk Foods Limited Q1 FY27 results

As filed: Revenue ₹945 cr (+11% year on year), EBITDA ₹68.3 cr (+20% year on year), PAT ₹22.1 cr (−21% year on year), EBITDA margin 7.2% (+54 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹945 cr (+3% year on year), EBITDA ₹59.4 cr (−4% year on year), PAT ₹32.2 cr (+24% year on year), EBITDA margin 6.3% (−48 bps). Score 21 of 100, Below trend. Revenue growth was well below the company's own trend; EBITDA growth was below it; profit growth was in line with it. EBITDA margin fell 48 bps year on year. Other income 47% of PBT. Consolidated profit +24% but standalone -12%. Revenue fell 7% from last quarter. Share price after the results: +2.0% in 29 days (Nifty 500: −3.2%).
  • Q3 FY26: Revenue ₹1,013 cr (+14% year on year), EBITDA ₹68.3 cr (−8% year on year), PAT ₹29.6 cr (+1% year on year), EBITDA margin 6.7% (−162 bps). Score 29 of 100, Below trend. Revenue growth was above the company's own trend; EBITDA growth was well below it; profit before exceptional items growth was below it. EBITDA margin fell 162 bps year on year. Other income 27% of PBT. Tax rate 9%. Profit fell 23% from last quarter. Revenue rose ₹128 cr on a year ago, more than the ₹84.0 cr it added the year before. Share price after the results: −24.3% in 30 days (Nifty 500: −4.5%).
  • Q2 FY26: Revenue ₹1,008 cr (+16% year on year), EBITDA ₹71.0 cr (+1% year on year), PAT ₹46.0 cr (+59% year on year), EBITDA margin 7.0% (−99 bps). Score 46 of 100, In line with trend. Revenue growth was well above the company's own trend; EBITDA growth was well below it; profit growth was in line with it. EBITDA margin fell 99 bps year on year. Other income 36% of PBT. Tax rate 10%. Profit rose ₹17.0 cr on a year ago, more than the ₹4.0 cr it added the year before. Share price after the results: +1.8% in 30 days (Nifty 500: +0.2%).
  • Q1 FY26: Revenue ₹852 cr (+12% year on year), EBITDA ₹57.0 cr (+2% year on year), PAT ₹28.0 cr (+4% year on year), EBITDA margin 6.7% (−70 bps). Score 29 of 100, Below trend. Revenue growth was above the company's own trend; EBITDA growth was well below it; profit growth was below it. EBITDA margin fell 70 bps year on year. Other income 28% of PBT. Tax rate 3%. Revenue fell 7% from last quarter. Share price after the results: −3.8% in 30 days (Nifty 500: −1.0%).
  • Q4 FY25: Revenue ₹918 cr (+16% year on year), EBITDA ₹62.0 cr (+68% year on year), PAT ₹26.0 cr (+160% year on year), EBITDA margin 6.8% (+207 bps). Score 68 of 100, Above trend. Revenue growth was well above the company's own trend; EBITDA and profit growth were above it. EBITDA margin rose 207 bps year on year. Other income 39% of PBT. Profit fell 28% from last quarter. Share price after the results: +13.0% in 30 days (Nifty 500: +3.8%).
  • Q3 FY25: Revenue ₹885 cr (+10% year on year), EBITDA ₹74.0 cr (+19% year on year), PAT ₹36.0 cr (+6% year on year), EBITDA margin 8.4% (+62 bps). Score 46 of 100, In line with trend. Revenue growth was well above the company's own trend; EBITDA and profit growth were below it. EBITDA margin rose 62 bps year on year. Tax rate 5%.
  • Q2 FY25: Revenue ₹871 cr (+9% year on year), EBITDA ₹70.0 cr (+35% year on year), PAT ₹29.0 cr (+16% year on year), EBITDA margin 8.0% (+152 bps). Score 62 of 100, In line with trend. EBITDA margin rose 152 bps year on year. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

Parag Milk Foods Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.