Parag Milk Foods has announced a record revenue of INR 1008 crore for the second quarter of FY26, reflecting a robust 16% year-on-year growth. This remarkable performance is attributed to a 10% increase in volume, particularly in core categories such as Ghee, Cheese, and Paneer, which collectively achieved a 23% value growth and a 14% volume growth. The company's EBITDA slightly improved to 8.9%, up from 8.8% in the previous year, alongside a gross margin expansion to INR 260 crore, translating to 25.8% compared to 23.6% last year.

In terms of market positioning, Parag Milk Foods continues to solidify its leadership in the value-added dairy FMCG sector. Core categories contributed to 59% of total revenue, demonstrating strong double-digit volume growth. The company maintains its status as the #1 player in branded cow ghee with a 22% market share and holds the #2 position in cheese with a 35% share. Furthermore, the New Age business segments, including Pride of Cows and Avvatar, have surged, now accounting for 9% of overall revenue, a notable increase from 6% in the previous year, with a staggering 79% growth in revenue.

Parag Milk Foods is also optimizing its capital structure, generating INR 99 crore in cash flow from operations during the first half of FY26. The company successfully converted Foreign Currency Convertible Bonds (FCCB) into equity, leading to a reduction in net debt by INR 125 crore. This has improved the consolidated net debt to EBITDA ratio to 1.4 times and net debt to equity to 0.4 times. Additionally, Parag Milk Foods continues to enhance its brand visibility through various media platforms, including a fourth consecutive year of collaboration with KBC, underscoring its commitment to growth and innovation in the dairy sector.