Parag Milk Foods target at Rs 1,500 crore revenue by end of 2015

Parag Milk Foods is targeting at Rs 1,500 crore revenue during the current fiscal by expanding into national as well as global market, reported PTI.

"We have undertaken many expansions during the last few years. We have introduced and established four brands - Gowardhan, Go, Pride of Cows and ToppUp, a new brand for beverages. Looking at the growth we are expecting Rs 1,500 crore revenue in 2014-15," said, Devendra Shah, Chairman, Parag Milk Foods.

Parag Milk has reported Rs 1,450 crore revenue in financial year 2014.

The brand is also planning to expand its product portfolio by adding cream under its Go brand and whay-based beverages in 2015.

Parag Milk is also planning to invest over Rs 120 crore through inter accrual this year for strengthening the brand and expansions.

“Last year, the company had spent Rs 75 crore and currently the ratio for domestic and exports are 80:20 and the company is targeting to increase its overseas shipments by another 10-20 per cent mainly focusing on neighbouring countries, South East Asia and the middle east,” added Shah.

The company also announced their new corporate identity and unveiled their new logo.

"This strategic move is intended to bring all our brands together under the new umbrella corporate brand, helping to build a stronger brand connect and recall with the parent company," added Shah.