Financial Performance Summary

Key Financial Metrics (Consolidated, ₹ in Crore)

| Particulars | Q1FY27 | Q1FY26 | YoY Growth |

| Revenue from Operations | 973.45 | 678.09 | 43.6% |

| Gross Profit | 333.02 | 213.34 | 56.1% |

| Gross Profit Margin | 34.21% | 31.46% | |

| EBITDA (includes Other Income) | 144.89 | 83.02 | 74.5% |

| EBITDA Margin | 14.88% | 12.24% | |

| Profit After Tax | 64.68 | 6.53 | 889.81% |

| PAT Margin | 6.64% | 0.96% | |

Performance Drivers and Segment Analysis

Revenue Growth Drivers

  • Overall revenue growth of 43.6% YoY driven by healthy sales performance across entire product portfolio
  • Summer portfolio (ice creams, curd, yogurt categories) recorded strong YoY growth due to extended summer season, particularly across Southern India

Product Category Performance

  • Paneer: Largest contributor with 34% YoY revenue growth
  • Cheese: 38% YoY revenue growth
  • Curd: 27% YoY revenue growth
  • Ice Cream: 60% YoY revenue growth
  • Yogurt: 153% YoY revenue growth (standout performer)

Margin Expansion Factors

  • Gross profit expansion driven by higher volume growth, improved product mix, and pricing ability
  • Operational efficiencies contributed to EBITDA growth and margin expansion

Operational Highlights

Capacity Expansion

  • Commissioned new Cheddar Cheese Plant with installed capacity of 120 MT per day during Q1FY27

Business Development

  • Continued process and product innovation
  • Introduction of new product variants
  • Deeper market penetration enabling expansion across existing and new geographies

Management Commentary

Dr. K Rathnam, Wholetime Director and Chief Executive Officer

  • Company started FY27 with strong performance
  • Focus will remain on driving profitable growth through:
  • Portfolio expansion
  • Operating discipline
  • Investments in manufacturing and distribution capabilities
  • Continue to expand range of value-added food products
  • Strengthen brands and distribution network
  • Increase presence across markets
  • Focus on improving efficiency and leveraging scale
  • Balance investments for future growth with disciplined execution
  • Confident of strengthening position in value-added FMCG space
  • Target delivering sustainable growth over the year

Company Background

  • Leading value-added dairy and packaged food company in India
  • Diversified portfolio spanning paneer, cheese, curd, butter, ghee, yogurt, ice cream, UHT products, frozen, ready-to-eat, ready-to-cook foods, and chocolates
  • Operates under flagship 'Milky Mist' brand and other brands including 'SmartChef', 'Capella', 'Briyas', and 'Asal'
  • As of June 30, 2026: 22 product categories across 640+ SKUs
  • Integrated supply chain spanning milk procurement, processing, manufacturing, packaging, and distribution
  • Technology-led and automated manufacturing capabilities at Perundurai facility in Erode, Tamil Nadu
  • Revenue CAGR of 31.26% between FY2024 and FY2026, reaching ₹3,138.36 crore in FY2026
  • FY2026 achievements:
  • Largest private packaged paneer brand in India's organized market
  • Largest private packaged cheese brand in South India
  • Among top two private packaged yogurt brands in India