Parag Milk Foods has announced a record revenue of INR 1008 crore for the quarter ending September 30, 2025, marking a 16% year-over-year increase. This impressive growth is attributed to a 10% rise in volume sales, with core categories such as ghee, cheese, and paneer witnessing significant demand. These products contributed to a 23% value growth and a 14% increase in volume, underscoring the company's strong performance in the value-added dairy sector. Furthermore, the company reported an EBITDA margin of 8.9%, slightly up from 8.8% in the previous year, with gross margins improving to 25.8% from 23.6%.

In a strategic highlight, core categories played a pivotal role, accounting for 59% of total revenue and demonstrating robust growth. Parag Milk Foods maintains its leadership position in the dairy market, holding the #1 spot in branded cow ghee with a 22% market share and the #2 position in cheese with a 35% share. The company has also seen success in premiumization, with its new-age businesses such as Pride of Cows and Avvatar now representing 9% of overall revenue, a notable increase from 6% the previous year. This segment alone reported a 79% increase in revenue year-over-year, showcasing the effectiveness of its premium product strategy.

From a financial stability perspective, Parag Milk Foods reported a cash flow of INR 99 crore from operations during the first half of FY26, with net debt reduced by INR 125 crore. The company's Net Debt to EBITDA ratio improved to 1.4 times, while the Net Debt to Equity ratio decreased to 0.4 times, indicating a healthier capital structure. The company continues to invest in brand strength through partnerships and media presence, including its ongoing association with KBC and appearances on platforms like Super Dancer, which enhance its visibility and market reach. The upcoming post-earnings conference call on November 12, 2025, will further detail these results and strategic priorities.