Parag Milk Foods shares soar 13% as Q2 FY27 revenue hits record high on robust volume growth

The firm’s revenue from operations grew 23% year-on-year (YoY) to ₹1,241 crore in the September quarter of FY27, as against ₹1,008 crore registered in the year-ago period.

However, the dairy products making company reported a consolidated net profit of ₹42 crore for the July-September quarter (Q2 FY27), marking a fall of 9% from ₹46 crore logged in the same period last year.

The operating profit, also known as earnings before interest, taxes, depreciation, and amortisation (EBITDA), increased 38% to ₹99 crore as compared to ₹72 crore in the corresponding quarter of the previous fiscal year.

Its EBITDA margin expanded marginally to 7.98% in the reporting quarter from 7.11% in Q2 FY26.

The dairy FMCG company reported a volume growth of 12%, while its new-age business recorded revenue of ₹154 crore, up 71% YoY.

“Indian consumers are becoming increasingly conscious of their food choices, with a growing emphasis on quality, purity, nutrition and protein. This shift is creating an opportunity for the dairy industry to move beyond conventional offerings towards more diverse, value-added and nutrition-led products. At Parag, we are focused on anticipating these evolving needs through continued investments in cheese and paneer capabilities, distribution expansion, and product innovation,” said Akshali Shah, Executive Director, PMFL.

Along with the earnings, the Board of Directors also approved an investment of approximately ₹100 crore to scale paneer capacity from 20 MT/day to 80 MT/day at Manchar and Palamaner for both regular and high protein paneer, with commissioning expected by June 2027.

The company is also doubling cheese capacity from 60 MT/day to 120 MT/day at an investment of ₹105 crore, with completion targeted in FY28. “These investments are expected to strengthen the company's scale across all its brands and support its broader shift towards value-added, protein-led offerings,” Parag Milk said.

In a regulatory filing, the board approved the scheme of amalgamation of Bhagyalaxmi Dairy Farm Pvt. Ltd., a 100% subsidiary, with the holding company itself, subject to approvals. The proposed amalgamation is likely to benefit in the form of operational synergies, riding on the distribution network, efficient utilisation of capital and resources, etc.

Bhagyalaxmi is engaged in dairy farming, breeding and rearing milch animals, and the manufacturing and sale of milk and milk products.

Parag Milk Foods share price trends

At 2:10 PM, Parag Milk Foods shares were trading at ₹281.38 apiece on the National Stock Exchange, gaining 12.77%.

From the beginning of the year, Parag Milk Foods shares have declined 6%. Over a month’s time, the stock has advanced 1.4%, while for a six-month period, it has jumped 28%.

Shares of the firm had hit a 52-week high of ₹376.95 on November 13, 2025, and a 52-week low of ₹177.84 on March 30, 2026.

According to NSE data, as of November 4, 2026, Parag Milk Foods has a total market capitalisation of ₹3,576.10 crore.