CHENNAI: Tamil Nadu-based Milky Mist Dairy Food Ltd, which got listed on the BSE and NSE bourses on August 18, reported a net profit of Rs 64.68 crore in the Q1 FY27 against Rs 6.53 crore a year ago, a rise of 889.81%. The company’s revenue grew by 44% from Rs 678.09 crore to Rs 973.45 crore in Q1FY27.
Paneer remained the largest contributor to the company's total sales, with a revenue growth of 34% on a YoY basis. Cheese and Curd categories continued to deliver healthy growth, with revenue growth of 38% and 27% YoY, respectively. The growth in revenue from the ice cream category was 60% on a YoY basis. Yogurt category emerged as a standout performer, with a YoY growth of 153%.
“The gross profit expansion was primarily driven by higher volume growth, improved product mix and pricing ability. As we look ahead to FY27, our focus will remain on driving profitable growth through portfolio expansion, operating discipline and investments in our manufacturing and distribution capabilities," said Dr. K Rathnam, Wholetime Director and Chief Executive Officer, Milky Mist Dairy Food Limited.
According to the company, it currently witnesses a huge demand for its value-added products across the segment and hence it is aggressively working to expand its farmers’ procurement network.
“A year ago, we had 75,000 farmers who were supplying milk to us and now it has grown to 80,000 to 82,000 farmers. We are also helping farmers who are under our network to avail loan to purchase more animals. In Q1, we have collected 13 lakh litres of milk every day on an average of 90 days against the previous quarter of 10 lakh litres,” the CEO said in response to a question from TNIE.
He added that the company will help farmers include more animals in tandem with topline growth, stating that the company plans to bring nearly 5,000 farmers into its network ecosystem in the current financial year. The company gives guidance of 30% growth for FY27.
“Our target is to increase the herd count than focusing on adding the farmers to network. Today we have 525 farms with a minimum of 5-10 cows. We would like to increase in leaps and bounds in future,” Ratnam said.
The CEO also said that the crackdown on analog panner will help organised players like Milky Mist to grow in the segment. The organised players constitute only 5% of the Rs 97,000 crore panner market, and the potential ban on loose panner completely would help the organised player to fulfil the requirement, though the packed panner products are increasing gaining market space.
