Parag Milk Foods adds new Chocolate Cheese variant

Milk product major, Parag Milk Foods launched a unique variant in cheese named ‘Go Chocolate Cheese’. This will be a combination of the taste of chocolate in the form of cheese.

The target audience for this newly launched product are kids. Go Cheese has successfully secured a leadership position in the cheese segment within a short span of 8 to 10 years. The new product will be available across Retail and Modern Trade outlets in India and will be sponsored through a 360-degree campaign that will commence shortly.

Parag Milk Foods has been successful in creating strong brands like Go, Gowardhan and in introducing new products like whey protein. It has become the second largest player in the processed cheese segment (after Amul) in a short span of 10 years and commands 33 per cent market share.

Value-added products (VAP) like cheese, whey protein enjoys higher gross margins of 25-45 per cent versus 6-8 per cent entailed in liquid milk. VAP forms ~66 per cent of its revenue (the highest among the listed players versus 25-30 per cent for others).

On Tuesday, the stock opened at Rs. 289.90 per share and touched an intraday high and low of Rs. 293.75 and Rs. 285.10, respectively, on the BSE. At 10:20, the stock was trading around Rs. 286.25 per share on the BSE.