Milky Mist Dairy Food has reported a strong start to FY27, with consolidated net profit surging nearly tenfold in the first quarter, supported by robust demand across its value-added dairy portfolio, margin expansion and improved operational efficiencies.
The company’s consolidated net profit rose 889.8% year-on-year to ₹64.68 crore in Q1 FY27, compared with ₹6.53 crore in the corresponding quarter last year. Revenue from operations grew 43.6% to ₹973.45 crore from ₹678.09 crore, reflecting broad-based growth across key product categories.
Paneer Continues to Lead Growth
Paneer remained Milky Mist’s largest revenue contributor and recorded 34% year-on-year growth during the quarter. Other core categories also delivered strong momentum, with cheese growing 38% and curd increasing 27%.
The company’s summer portfolio emerged as another significant growth driver. Ice cream revenue rose 60%, while yogurt stood out with growth of 153%. Stronger demand during an extended summer season, particularly in Southern India, supported performance across these categories.
Milky Mist operates exclusively in value-added dairy products, with its portfolio spanning paneer, cheese, curd, yogurt, butter, ghee and ice cream. The company does not operate in the liquid milk segment, positioning its business around higher-value and differentiated dairy categories.
Profitability and Margins Strengthen
The strong revenue growth was accompanied by significant improvement in operating profitability.
EBITDA increased 74.5% year-on-year to ₹144.89 crore from ₹83.02 crore. The EBITDA margin expanded to 14.88% from 12.24%, indicating improved operational efficiencies alongside a stronger product mix and pricing performance.
The combination of revenue growth and margin expansion resulted in a sharp improvement in the company’s bottom line. The Q1 FY27 performance suggests that Milky Mist’s growth is being supported across multiple categories rather than relying on a single product segment.
Strong Start After Market Debut
Milky Mist made its stock market debut on August 18 following its ₹1,553 crore IPO, which was subscribed 56.12 times.
The company’s shares listed at ₹165 on both the BSE and NSE, representing a premium of 17.85% over the issue price of ₹140. By Monday’s closing price of ₹211, the stock was trading over 50% above its IPO price.
Founded in Erode, Tamil Nadu, Milky Mist’s strong first-quarter performance as a listed company highlights growing demand for branded, value-added dairy products in India.
With growth across paneer, cheese, curd, ice cream and yogurt, alongside improving margins, Milky Mist has entered FY27 with strong operating momentum and a healthier profitability profile.
Source: Based on reporting by Mint, with additional editorial adaptation and analysis.
