PARAGMILKParag Milk Foods Ltd.
Parag Milk Foods Q2 FY27 Results: Consolidated Net Profit ₹42.00 Crore on Total Income of ₹1,243 Crore
- Earnings
- dairy products
Reviewed byRachit TripathiBlacklitt Research
Parag Milk Foods (NSE: PARAGMILK) reported consolidated total income of ₹1,242.78 crore and net profit of ₹42.00 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹1,218.13 crore and net profit of ₹49.26 crore, it said in a filing on 03 Nov 2026. The Board also approved a scheme to amalgamate its wholly owned subsidiary Bhagyalaxmi Dairy Farms Private Limited into the company.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹1,242.78 crore, up 21.1% YoY and 31.4% QoQ
- Net profit: ₹42.00 crore, down 8.0% YoY and up 90.5% QoQ
- EPS: ₹3.36 basic, against ₹3.83 a year earlier
- Finance costs: ₹26.58 crore, up 32.7% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹1,218.13 crore, up 21.8% YoY and 32.0% QoQ
- Net profit: ₹49.26 crore, down 11.6% YoY and up 93.7% QoQ
- EPS: ₹3.94 basic, against ₹4.67 a year earlier
- Finance costs: ₹24.21 crore, up 37.7% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,242.78 | 1,025.98 | +21.1% | 945.98 | +31.4% | |
| Revenue from operations | 1,240.89 | 1,007.95 | +23.1% | 944.57 | +31.4% |
| Other income | 1.89 | 18.03 | -89.5% | 1.41 | +34.0% |
| 42.00 | 45.65 | -8.0% | 22.05 | +90.5% | |
| Profit before tax | 55.17 | 50.49 | +9.3% | 29.29 | +88.4% |
| Finance costs | 26.58 | 20.03 | +32.7% | 21.90 | +21.4% |
| Depreciation | 18.85 | 18.75 | +0.5% | 18.47 | +2.1% |
| Tax expense | 13.17 | 4.84 | +172.1% | 7.24 | +81.9% |
| Net profit margin | 3.38% | 4.45% | -1.07 pp | 2.33% | +1.05 pp |
| EPS, basic (₹) | 3.36 | 3.83 | -12.3% | 1.76 | +90.9% |
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.
The consolidated results include Bhagyalaxmi Dairy Farms Private Limited and Parag Foods Middle East FZE. The auditors did not review the interim statements of one subsidiary, which the auditors say have total assets of ₹0.26 crore and are not material to the group.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,218.13 | 1,000.04 | +21.8% | 922.63 | +32.0% | |
| Revenue from operations | 1,215.42 | 981.15 | +23.9% | 920.47 | +32.0% |
| Other income | 2.71 | 18.89 | -85.7% | 2.16 | +25.5% |
| 49.26 | 55.70 | -11.6% | 25.43 | +93.7% | |
| Profit before tax | 60.99 | 58.52 | +4.2% | 32.40 | +88.2% |
| Finance costs | 24.21 | 17.58 | +37.7% | 19.82 | +22.1% |
| Depreciation | 16.52 | 15.91 | +3.8% | 16.17 | +2.2% |
| Tax expense | 11.73 | 2.82 | +316.0% | 6.97 | +68.3% |
| Net profit margin | 4.04% | 5.57% | -1.53 pp | 2.76% | +1.29 pp |
| EPS, basic (₹) | 3.94 | 4.67 | -15.6% | 2.03 | +94.1% |
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.
The Board approved the Scheme of Amalgamation of Bhagyalaxmi Dairy Farms Private Limited, a wholly owned subsidiary, with the company under Sections 230 to 232 of the Companies Act, 2013, subject to requisite approvals. The scheme has not been given effect in either set of results. Pending these approvals, the scheme has not been given effect in the standalone results, and upon taking effect the company's shares in Bhagyalaxmi will be cancelled with no consideration shares issued.
Inference
The Board approved the amalgamation of Bhagyalaxmi Dairy Farms Private Limited into the company, which the scheme describes as a step to simplify the group structure. The scheme is subject to sanction by the National Company Law Tribunal and to shareholder and creditor approvals as the tribunal directs. The filing does not say when those approvals are expected, nor what effect the amalgamation will have on results once it takes effect.
Filed with BSE on . Reference: Original filing (PDF)
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