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Jan, 22 2018

Parag Milk To Focus On FMCG Products for Next 3 Years

The company is India's largest private dairy with milk processing capacity of 2 million litres per day.

Parag Milk Foods is expecting a dip in revenue growth to up to 15 per cent per annum over the next three years, and will focus on dairy FMCG products in this period.

The company's revenue grew by 17 per cent in the last three years to reach Rs 1,730.7 crore in FY17 and is looking at a CAGR (compounded annual growth rate) of 13-15 per cent in the next three years.

The company is India's largest private dairy with a milk processing capacity of 2 million litres per day.

The future growth will come mainly from traditional products like liquid milk, ghee, paneer and curd, which are expected to grow by 15 per cent, while modern products like UHT milk, flavoured milk, cheese and whey powder may grow by 26 per cent by 2020.

Parag Food plans to increase operation efficiencies by leveraging in-house technological, R&D capabilities and strengthening brands. It is looking at focusing on introducing healthy and nutritious products.

The Union government implemented the Central Scheme National Dairy Plan Phase 1 during 2012-17 to improve productivity of dairy cooperatives through several input activities.

Going ahead, India's milk production is expected to outperform global production and grow at similar 4.2 per cent CAGR going ahead to 185 million MT per annum/507mn litres per day and surpass EU to emerge the largest dairy producer by 2020. It is expected to improve in value terms at 15 per cent CAGR to Rs 9.4 trillion over FY16-20.

The company is betting big on its 100 per cent vegetarian protein product as the country's sports nutrition segment is estimated at Rs 1,500 crore and given the increase in number of health clubs and fitness centres.

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