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    Parag Milk Foods Limited

    India dairy FMCG maker of ghee, cheese, paneer & whey protein under Gowardhan, Go, Pride of Cows, Avvatar.

    Fast Moving Consumer Goods
    Fast Moving Consumer Goods
    View PARAGMILK earnings calls
    ₹229.61
    +3.40% from avg

    Overview

    Price

    ₹229.61

    Market Cap

    ₹2.8k Cr

    Sector

    Fast Moving Consumer Goods

    Fast Moving Consumer Goods

    Rank

    4

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital848495117119119125125
    Reserves8278444596917939041.1k1.1k
    Borrowings400381523606616654543607
    Other Liabilities379373318253358355489415
    Total Liabilities1.7k1.7k1.4k1.7k1.9k2.0k2.2k2.3k
    AssetsFixed Assets466473459436466578593643
    CWIP73104569193737
    Investments11055555
    Other Assets1.2k1.2k9261.2k1.3k1.4k1.6k1.6k
    Total Assets1.7k1.7k1.4k1.7k1.9k2.0k2.2k2.3k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating140-66100-149-190102212149
    Cash from Investing-73-30-47-26-88-53-132-98
    Cash from Financing-91111-69248212-53-78-60
    SummaryCapital Expenditure
    Free Cash Flow52-9856-185-190418759
    FCF Margin

    Valuation

    Assumptions

    Current — PARAGMILK
    Price
    ₹230
    EPS (TTM)
    ₹10.90
    PE (TTM)
    21.1
    Profit growth
    70.4%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (23.2×) and current (21.1×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹230
    vs
    Fair value · 15% return
    ₹1,811
    689%Undervalued

    At 70.4% growth and a 21× exit, ₹230 only delivers your return if you pay ₹1,811. The price is currently baking in 18% growth.

    EPS grows 70.4%/yr for 5 years, then fades to 6% over 2, exits at 21×.

    YearGrowthEPS (₹)
    FY2770.4%18.57
    FY2870.4%31.65
    FY2970.4%53.93
    FY3070.4%91.90
    FY3170.4%156.59
    FY3238.2% ·fade216.41
    FY336.0% ·fade229.40

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

    Learn to analyse Parag Milk Foods Limited

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