Parag Milk expands its curd portfolio
Parag Milk Foods informed the bourses that the company has launched ‘Kesar dahi’ under Gowardhan brand. The launch would enable the company to enhance its curd portfolio, which is a low margin product.
In the recent quarter Q1FY19, the company has completed all regulatory requirements and have commenced the supply of fresh curd to the nearby markets in Delhi NCR. Also, the company has stated distributing cup curd and targets to generate around Rs. 60-70 crore revenue from the same for FY19.
The company’s Q1FY19 product-wise revenue break-up comprises of Milk Products (66 per cent), Liquid Milk (19 per cent), Skimmed Milk Powder (13 per cent) and Others (2 per cent).
Parag Milk Foods is one of India’s s largest private dairy with a milk processing capacity of 2.9 million litres per day. Also, it enjoys second largest market share in Cheese category.
On Tuesday, the stock of Parag Milk opened at Rs. 258.85 per share and made an intraday high of Rs. 266.95 on the BSE.