Milky Mist shares jump over 9% after nearly 10-fold surge in Q1 PAT; here's what contributed to earnings growth

Dairy products maker Milky Mist shares rallied more than 9% after the opening bell on Tuesday, September 1, as investors reacted to the company’s strong April to June quarter earnings report for the financial year 2026-27, with profits rising nearly 10-fold in the period.

NSE data showed that Milky Mist shares surged 9.4% to open at an early market high of ₹230.79 apiece at 9:15 am (IST) on Tuesday’s market, in comparison to ₹210.94 apiece at the previous equity market close.

The company’s stock retracted some of its early market gains after opening at the day’s high, and was trading around 6.8% higher during the morning market hours at ₹223.92 apiece during the session on September 1.

Milky Mist recorded a strong Q1 earnings print due to major support from healthy margin growth and the expansion in revenue from core operations, which was a result of the strong sales in the summer season this year.

Milky Mist’s Q1 performance snapshot

On Monday evening, Milky Mist’s board of directors announced the company’s April to June quarter results for FY27, in which the dairy products maker recorded a nearly 10-fold or 889.9% jump in net profit after tax (PAT).

This massive surge in net profit comes against the backdrop of a healthy 43.6% revenue growth in the period, and a 264 basis point (bps) improvement in the company’s earnings before interest, tax, depreciation and amortisation (EBITDA) margins.

Although the company’s overall expenses in the period surged more than 34% due to the increase in raw material costs, the company ended up making more profit due to the higher sales in the period under review.

NSE filings data showed that Milky Mist’s cost of materials consumed surged 34.4% year-on-year (YoY) to ₹654.14 crore in the June quarter of FY27, in comparison to ₹486.37 crore in the same period a year earlier.

What contributed to the strong Q1 show?

Milky Mist disclosed that the company’s summer portfolio, which includes ice creams, curd and yoghurt categories, recorded strong growth in the period under review due to an extended summer season this year, especially in the southern parts of the country.

The company recorded strong growth across its product portfolio as the management now aims to keep its efforts towards strengthening growth with product innovation, new product variant launches and a deeper market penetration strategy.

“The gross profit expansion was primarily driven by higher volume growth, improved product mix and pricing ability,” the company informed the stock exchanges.

On a segmental basis, Milky Mist’s paneer business remained the largest contributor with a 34% revenue growth in the June quarter. The company’s ice cream category recorded 60% YoY revenue growth in the same period.

While the yoghurt business emerged as a standout performer with 153% growth, the company’s cheese and curd categories continued to deliver healthy growth at 38% and 27%, respectively.

“As we look ahead to FY27, our focus will remain on driving profitable growth through portfolio expansion, operating discipline and investments in our manufacturing and distribution capabilities,” said K Rathnam, Whole-time Director and Chief Executive Officer of Milky Mist Dairy Food.

Over 64% returns so far since IPO

Milky Mist shares were listed on the National Stock Exchange on Tuesday, August 18, at a nearly 18% premium on top of the IPO issue price of ₹140 per share, according to NSE data.

So far, since the company’s IPO round, Milky Mist’s stock has delivered more than 64% returns on investors' investment as of the intraday high level of Tuesday, September 1, and the company's shares have gained more than 11% in the last five market sessions.

Milky Mist’s stock hit its record high of ₹233.80 apiece on August 27, 2026, while the record low level was at ₹165 apiece on August 18, 2026, as per the exchange data.

The company’s market capitalisation (m-cap) was at ₹17,498 crore as of the trading session on Tuesday, September 1, 2026.