Parag Milk Foods

Parag Milk Foods Limited

Company type	Public
Traded as	BSE: 539889 NSE: PARAGMILK
Industry	Dairy
Founded	1992; 32 years ago (1992)
Headquarters	Mumbai and Pune, Maharashtra , India
Area served	India
Key people	Devendra Shah (Chairman)[1]
Products	Milk, butter, cheese, ghee, cottage cheese, yogurt and whey protein
Revenue	₹1,923 crore (US$230 million) (2018)[2]
Operating income	₹1,865 crore (US$220 million) (2018)[2]
Total assets	₹1,367 crore (US$160 million) (2018)[2]
Number of employees	1,787 (as on 31 March 2018)[2]
Website	paragmilkfoods.com

Parag Milk Foods , established in 1992, is one of India's largest private dairy FMCG companies with a strong Pan-India presence. The company operates state-of-the-art manufacturing facilities equipped with in-house technology, strategically located in Manchar, Maharashtra; Palamaner, Andhra Pradesh; and Sonipat, Haryana. These facilities are dedicated to producing 100% cow’s milk products that are both healthy and nutritious.

The company is known for its integrated business model and robust research and development capabilities, which have propelled it to the forefront of innovation within the dairy industry. Parag Milk Foods is also home to the Bhagyalaxmi Dairy Farm, which houses over 5,000 cows and utilizes a fully mechanized milking process, ensuring high standards of quality and hygiene.

Parag Milk Foods markets its products under four prominent brands: Gowardhan, Go, Pride of Cows, and Avvatar.

Parag Milk Foods is committed to becoming the leading dairy FMCG company in the country, with a strong emphasis on delivering health and nutrition to consumers through continuous innovation and quality improvement​

Parag Milk Foods started as a dairy in Manchar with a 20,000 litre capacity in 1992. It concentrated on a niche segment, producing skimmed milk powder and by 2004 became India's largest exporter of the skimmed milk powder. However, the company faced a challenge when the Government of India banned export of milk powder on account of local milk shortage.

Key Timeline
1992: Parag Milk Foods Ltd. was founded by Devendra Shah, with its first facility strategically located in Manchar, Maharashtra.

1998: Commissioned the value-added plant at Manchar, initiating the production of ghee and butter under the Gowardhan brand.

2005: Launched Bhagyalaxmi Dairy Farm, India’s most advanced dairy farm, equipped with state-of-the-art technology.

2008: Introduced the Go Cheese brand, which became India’s largest cheese production facility with a capacity of 40MT/day.

2010: The Palamaner plant was established with world-class UHT facilities.

2011: Launched the Pride of Cows brand, offering a unique "farm-to-home" milk delivery service, targeting premium consumers.

2014: Expanded product offerings by launching whey proteins and ingredients products to cater to the growing health-conscious market.

2015: The corporate identity of Parag Milk Foods was consolidated with the launch of the PMFL logo.

2016: Parag Milk Foods Ltd. was listed on the stock exchanges, marking a significant milestone in its growth journey.

2017: Entered the consumer nutrition business with the introduction of Avvatar, India’s first 100% vegetarian whey protein.

2018: Established a state-of-the-art dairy manufacturing facility in Sonipat, Haryana, acquired from Danone.

2020: Expanded its brand portfolio with the introduction of Pride of Cows toned and skimmed milk on the national level.

2021: Received investment from the International Finance Corporation (IFC) and promoters, strengthening the company’s growth trajectory.

2022: Investment by renowned entities like Verlinvest and Sixth Sense Ventures; initiated the “Make in India” campaign with Birla and Super Singer partnerships

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Gowardhan:
Gowardhan is a brand tailored to Indian households across urban and rural regions. Its product range comprises daily dairy essentials familiar to consumers, including Ghee, Milk, Paneer, Dahi, Butter, Dairy Whitner, and Gulab Jamun Mix. During FY24, the Company has entered the traditional sweets category under the brand Gowardhan. This forward integration features a range of seven delectable sweets, including Kaju Katli, Malai Pedha, Kesar Pedha, Kaju Pista Roll, Mawa Gujiya, Mysore Pak, and Malai Modak.
Gowardhan Ghee, a flagship product under the Gowardhan brand, stands out for its purity and rich taste. It is the preferred choice in Indian households, cherished for its authentic flavor and trusted for its quality, embodying the essence of traditional Indian cooking.
The Gowardhan brand experienced a 25% growth in FY 2023-24.

Go:
Go brand is designed for modernised and westernised families leading busy, active lives. Its target audience includes young working couples and urban-centric families with well-travelled backgrounds, often with active children. Its product range comprises, Cheese, UHT milk and beverages like Milk Shakes, Lassi and Chaas.
Go Cheese was launched in 2009. It is recognized as one of the largest producers of cheese in India, contributing significantly to the company’s revenue. The brand offers a diverse range of cheese products including Slices, Cubes, Spreads, 4 Cheese, Processed Cheese, Pizza Cheese, Mozzarella Cheese, Cheddar, Colby, Monterey Jack, Gouda and more, catering to the evolving tastes and preferences of Indian consumers.

Pride of cows:
Pride of Cows, a brand within Parag’s portfolio, provides a unique farm-to-home milk experience that truly sets it apart from other products. Launched in 2011, it is marketed as a premium dairy brand with a single origin, sourced from India’s most advanced Bhagyalaxmi dairy farm. Its product range comprises, Milk, Fat Free Milk, Ghee, Curd and Paneer. What sets Pride of Cows apart is its farm-to-home approach, where every product is delivered directly to the consumer, bypassing intermediaries. This model not only preserves the freshness but also provides complete traceability, allowing consumers to track the source of their milk back to the specific cows at the farm. The brand emphasizes ethical farming practices, ensuring that their cows are well-treated, free to graze, and not subjected to hormones or antibiotics. This results in dairy products that are rich in nutrients and have a superior taste.

Avvatar:
Avvatar is Parag Milk Foods sports nutrition brand, recognized as the first in India to introduce fresh, vegetarian whey protein manufactured completely in India. Since its launch in 2017, Avvatar has received enthusiastic consumer feedback and has gained widespread acceptance in the Indian market. The brand's product lineup includes a variety of protein supplements, such as Whey, Iso, Creatine, Nitro Iso, Alpha, Muscle Gainer, and Mass Gainer. The brand is committed to providing high-quality, unadulterated whey protein that supports fitness enthusiasts, athletes, and health-conscious individuals in their journey toward a healthier lifestyle. Avvatar Whey Protein products are processed using state-of-the-art technology to ensure the preservation of essential nutrients, offering a complete amino acid profile and a rich source of protein for muscle recovery and growth. Avvatar prides itself on its Farm-to-Shaker philosophy, ensuring transparency and traceability in its production process. The brand's products undergo rigorous quality checks, adhering to international standards, and are free from artificial flavors, preservatives, and additives.

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In 2018, Parag Milk Foods acquired Danone's facility in Sonipat, Haryana after Danone decided to shut its dairy operations in India.^[6][7] Parag Milk Foods paid a consideration of ₹30 crore (US$3.6 million) to Danone for the facility which it now uses to service the North India market.^[8] The facility has a milk processing capacity of 75,000 litres a day along with 15 tonnes of yogurt.^[6]

• Official website