Parag Milk expands footprints in Delhi NCR
Parag Milk Foods, a leading manufacturer and marketer of branded dairy products, enhances its footprints in Delhi NCR with the launch of its premium milk brand ‘Pride of Cows’. This expansion would lead the company to capture the Delhi NCR market, which is the largest milk market of the country worth Rs. 11,000 crore.
The company has witnessed 28 per cent CAGR growth in the revenue from ‘Pride of Cows’ over FY13-18. This new reach would further lead to growth in the revenue from the said product. The company is targeting to double its revenue from the product line in the next two years.
During the recent quarter Q2FY19, the share of milk products was 68.6 per cent of total revenue, while that of liquid milk was 18.4 per cent and for skimmed milk powder was 11.6 per cent.
On Friday, the stock opened at Rs. 240 per share and was hovering in a small range to make an intraday high of Rs. 243.05. At 11:06 hours, the stock was trading at Rs. 241.50 on the BSE. The company had hit its 52-week high of Rs. 414.95 on May 17, 2018 and its 52-week low of Rs. 223 on October 1, 2018 on the BSE.