Milky Mist Dairy Food Q2 FY27 Results: Consolidated Net Profit ₹77.94 Crore on Total Income of ₹2,097 Crore
Earnings
Dairy products
Blacklitt Research3 min read
Milky Mist Dairy Food (NSE: MILKYMIST) reported consolidated revenue from operations of ₹1,089.40 crore and consolidated net profit of ₹77.94 crore for the quarter ended 30 Sep 2026, it said in a filing on 29 Oct 2026. Standalone net profit for the quarter was ₹77.55 crore.
Key highlights
Consolidated
Including its subsidiaries
Revenue from operations: ₹1,089.40 crore, up 41.6% YoY and 11.9% QoQ
Net profit and EPS: ₹77.94 crore, up 174.5% YoY; basic EPS ₹1.10
Finance costs: ₹19.91 crore, up 22.7% YoY and down 17.0% QoQ
Standalone
The company on its own, without its subsidiaries
Revenue from operations: ₹1,091.60 crore, up 41.8% YoY and 12.1% QoQ
Net profit and EPS: ₹77.55 crore, up 180.3% YoY; basic EPS ₹1.09
Finance costs: ₹19.79 crore, up 23.6% YoY and down 17.1% QoQ
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
2,097.12
771.73
+171.7%
974.53
+115.2%
Revenue from operations
1,089.40
769.47
+41.6%
973.45
+11.9%
Other income
7.72
2.26
+241.8%
1.08
+615.0%
77.94
28.39
+174.5%
64.68
+20.5%
Profit before tax
90.35
47.50
+90.2%
73.51
+22.9%
Finance costs
19.91
16.23
+22.7%
23.99
-17.0%
Depreciation
54.95
43.63
+25.9%
47.39
+15.9%
Tax expense
12.41
19.10
-35.1%
8.83
+40.5%
Net profit margin
3.72%
3.68%
+0.04 pp
6.64%
-2.92 pp
EPS, basic (₹)
1.10
0.44
+150.0%
1.01
+8.9%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit rose 174.5% year on year to ₹77.94 crore, while revenue from operations rose 41.6%. Profit before tax rose 90.2% to ₹90.35 crore, so the net profit gain is larger than the pre-tax gain. Tax expense fell 35.1% to ₹12.41 crore, which is 13.7% of profit before tax, against 40.2% of profit before tax a year earlier.
Finance costs of ₹19.91 crore are 1.8% of revenue from operations. They are up 22.7% on ₹16.23 crore a year earlier and down 17.0% from ₹23.99 crore in the previous quarter. Other income of ₹7.72 crore is 8.5% of profit before tax, against ₹2.26 crore a year earlier.
The year-earlier comparatives were compiled by management and were not reviewed or audited by the auditors, so the 174.5% growth is measured against an unreviewed base. Management attributes revenue growth to steady demand, with the protein range the fastest growing segment, and attributes the EBITDA increase to volume growth, operational efficiencies and product mix.
The notes say the company opted from 1 Apr 2026 to pay tax under Section 200 of the Income Tax Act, 2025 at 25.168%, and remeasured its deferred tax balances. The notes do not quantify that effect on the tax line.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,099.36
771.42
+42.5%
974.51
+12.8%
Revenue from operations
1,091.60
769.79
+41.8%
973.39
+12.1%
Other income
7.76
1.64
+374.5%
1.12
+592.5%
77.55
27.67
+180.3%
64.45
+20.3%
Profit before tax
89.59
46.25
+93.7%
73.19
+22.4%
Finance costs
19.79
16.02
+23.6%
23.87
-17.1%
Depreciation
54.43
43.05
+26.4%
46.92
+16.0%
Tax expense
12.04
18.58
-35.2%
8.74
+37.8%
Net profit margin
7.05%
3.59%
+3.47 pp
6.61%
+0.44 pp
EPS, basic (₹)
1.09
0.43
+153.5%
1.00
+9.0%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 180.3% to ₹77.55 crore on revenue from operations of ₹1,091.60 crore, up 41.8%. Profit before tax of ₹89.59 crore rose 93.7%, and tax expense fell 35.2% to ₹12.04 crore, which is 13.4% of profit before tax.
Standalone net profit is ₹0.39 crore below the consolidated figure. The consolidated results include the subsidiary Asal Food Products Private Limited, 100% owned. Standalone other income of ₹7.76 crore is 8.7% of profit before tax, and finance costs of ₹19.79 crore are 1.8% of revenue from operations.
Inference
The filing records a private placement to Jongsong Investments Pte. Ltd. of 5,43,789 equity shares and 2,50,00,000 CCPS for a primary consideration of ₹57.00 crore in the quarter ended 30 Jun 2026. The CCPS were converted into equity shares on 22 Jul 2026. The Promoters also transferred 89,43,903 equity shares to the investor for ₹125.00 crore on 30 Apr 2026.
The shares were listed on NSE and BSE on 18 Aug 2026 after an IPO with a fresh issue aggregating ₹1,428.00 crore and an offer for sale of ₹125.00 crore. Of unutilised net IPO proceeds of ₹838.92 crore, ₹800.94 crore is invested in fixed deposits and the rest is part of bank balance.
The filing does not say whether a dividend is planned, nor how or when the unutilised IPO proceeds will be deployed.
Create a free account to read the rest of this article and the analysis that follows.
By continuing you agree to our Terms and Privacy Policy, and to receive updates from Blacklitt by email. You can unsubscribe anytime.
Disclaimer:
The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.
MILKYMISTMilky Mist Dairy Food Ltd.
