After Nikhil Vora's stake purchase stock prices surged by an impressive 15 per cent!
Today, the shares of the company have soared to reach a fresh 52-week high, and it has given over a 75 per cent return over the past year.
Today the shares of Parag Milk Foods Ltd have surged by an impressive 14.61 per cent backed by the support of Nikhil Vora. During the previous trading session the company's shares closed at Rs 120.25. Today it opened at Rs 123.79 and reached a fresh 52-week high at Rs 139.85. Notably, the company had a 52-week low of Rs 65.50 and today it closed at Rs 137.82 marking a increase of 14.61 per cent. Additionally, company has given over 75 per cent return over the past one year.
With a market capitalization of around Rs 1600 crore and a face value of Rs 10, Parag Milk Foods Ltd continues to exhibit impressive growth. Vora's Sixth Sense Fund further boosted confidence in the company by acquiring an additional 6.8 lakh shares on June 23, 2023. As of March 31, 2023 Sixth Sense Fund already held approximately 45 lakhs of fully paid-up equity shares accounting for 3.8 per cent ownership in the company.
Turning to financials, Parag Milk Foods recorded a net profit of Rs 22.35 crore for Q4FY23 a significant improvement from the loss of Rs 591.78 crore in Q4FY22. During Q4FY23 the company witnessed a notable 41.43 percent increase in total income which reached at Rs 810 crore. With a milk processing capacity of 3.4 million litres per day the company continues to demonstrate strong performance.
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Parag Milk Foods specializes in the procurement of cow milk primarily in the western and southern regions. It also carries out milk processing and manufactures various value-added products including cheese, butter, ghee, fresh cream, milk powder, flavoured milk, lassi, and curd. These products are marketed under its registered brand names Gowardhan, Go, Topp up, and Avvatar. Additionally, the company holds a prominent position as one of the top 5 cheese producers in the country. Notably its key clients include renowned brands such as Domino's, Pizza Hut, and Papa John's.