Key Decisions and Approvals
1. Capacity Expansion Approval
- The Board approved expansion of cheese manufacturing capacity by additional 60MT/day as a brownfield expansion
- This will increase existing cheese manufacturing capacity from 60MT/day to 120MT/day (approximately)
- Investment required: Approximately ₹105 Crore
- Mode of financing: Internal accruals/Borrowings/Lease
- Implementation timeline: By Financial Year 2027-28
- Rationale: Investment necessary for company's readiness towards long-term growth prospects
- Existing capacity utilization: Close to full utilization
- Regulatory reference: Disclosure under Regulation 30 read with Para B of Part A of Schedule III of Listing Regulations
2. Management Appointment
- Appointment of Mr. Rakesh Kothari as Chief Financial Officer (CFO) & Key Managerial Personnel (KMP) effective August 7, 2026
- Appointment based on recommendations of Nomination and Remuneration Committee and Audit Committee
- Mr. Kothari holds MBA in General Management from University of Mumbai and Bachelor of Commerce degree
- Professional background: Finance professional with over 25 years experience across banking and other industries
- Current position: President - Finance & Accounts in the Company since August 18, 2025
- Expertise areas: Financial planning, treasury operations, investor relations, risk management, business finance
- Previous employers: Citibank and Sadhana Nitro Chem
- Concurrently, Mr. Pritam Shah relieved from additional duties as Interim CFO effective close of business hours on August 6, 2026
- Mr. Shah continues as Managing Director and Key Managerial Personnel according to existing terms
- Regulatory reference: Disclosure under Regulation 30 read with Para A of Part A of Schedule III of Listing Regulations
3. Financial Results Approval
- Board approved Unaudited Standalone and Consolidated Financial Results for quarter ended June 30, 2026
- Results reviewed by Audit Committee and Statutory Auditors
- Limited Review Reports issued by Statutory Auditors Sharp & Tannan (Firm Registration No. 109982W)
Financial Performance - Standalone (Quarter Ended June 30, 2026)
Income Statement:
- Revenue from operations: ₹920.47 Crore (Q1 FY26: ₹830.52 Crore)
- Other Income: ₹2.16 Crore (Q1 FY26: ₹4.97 Crore)
- Total Income: ₹922.63 Crore (Q1 FY26: ₹835.49 Crore)
Expenses:
- Cost of materials consumed: ₹724.33 Crore
- Changes in inventories: (₹40.81) Crore
- Employee benefits expense: ₹42.85 Crore
- Finance costs: ₹19.82 Crore
- Depreciation and amortization: ₹16.17 Crore
- Other expenses: ₹127.87 Crore
- Total Expenses: ₹890.23 Crore
Profitability:
- Profit before exceptional item and tax: ₹32.40 Crore (Q1 FY26: ₹32.60 Crore)
- Exceptional Item: Nil
- Profit before tax: ₹32.40 Crore
- Tax expense: ₹7.94 Crore (Current tax), (₹0.97) Crore (Deferred tax credit)
- Profit for the period: ₹25.43 Crore (Q1 FY26: ₹32.35 Crore)
- Other Comprehensive Income: ₹0.07 Crore
- Total Comprehensive Income: ₹25.36 Crore
Per Share Data:
- Basic EPS: ₹2.03 (not annualized)
- Diluted EPS: ₹2.00 (not annualized)
- Paid-up equity share capital: ₹125.01 Crore (Face Value ₹10 each)
Financial Performance - Consolidated (Quarter Ended June 30, 2026)
Income Statement:
- Revenue from operations: ₹944.57 Crore (Q1 FY26: ₹851.52 Crore)
- Other Income: ₹1.41 Crore (Q1 FY26: ₹7.64 Crore)
- Total Income: ₹945.98 Crore (Q1 FY26: ₹859.16 Crore)
Expenses:
- Cost of materials consumed: ₹727.33 Crore
- Changes in inventories: (₹40.80) Crore
- Employee benefits expense: ₹47.73 Crore
- Finance costs: ₹21.90 Crore
- Depreciation and amortization: ₹18.47 Crore
- Other expenses: ₹142.06 Crore
- Total Expenses: ₹916.69 Crore
Profitability:
- Profit before exceptional item and tax: ₹29.29 Crore (Q1 FY26: ₹29.18 Crore)
- Exceptional Item: Nil
- Profit before tax: ₹29.29 Crore
- Tax expense: ₹7.14 Crore (Current tax), (₹0.70) Crore (Deferred tax credit)
- Profit for the period: ₹22.05 Crore (Q1 FY26: ₹27.58 Crore)
- Other Comprehensive Income: ₹0.07 Crore
- Total Comprehensive Income: ₹21.98 Crore
Per Share Data:
- Basic EPS: ₹1.76 (not annualized)
- Diluted EPS: ₹1.73 (not annualized)
- Paid-up equity share capital: ₹125.01 Crore (Face Value ₹10 each)
Subsidiary Information
Consolidated results include:
1. Parag Milk Foods Limited (Parent)
2. Bhagyalaxmi Dairy Farms Private Limited (Subsidiary)
3. Parag Foods Middle East FZE (incorporated w.e.f. 7th January 2025) - activities not commenced, not included in financial results
Additional Information
- Meeting duration: Commenced at 7:00 PM IST, concluded at 8:35 PM IST
- Results available on company website: www.paragmilkfoods.com
- Financial statements prepared in accordance with Indian Accounting Standards (Ind AS)
- Single operating segment: 'Milk and Milk Related Products'
- Figures for previous periods/year regrouped wherever necessary