Footnotes/references Financials as of 31March2024[update].[2]
Milky Mist Dairy Food Limited (MMD) is an Indian manufacturer of dairy products, based in Perundurai, Tamil Nadu. Formed in 1997 by T. Sathish Kumar, Milky Mist is engaged in milk procurement, processing, and manufacturing of other dairy products.[3][4][5] Milky Mist's products include frozen food, dairy, desserts, food enhancers and yogurts.[6]
Milky Mist was founded in 1985 initially as a milk trading company.[7][3] In 1994, Milky Mist began producing paneer and subsequently other dairy items including curd, butter, cheese, yogurt and ice cream.[7]
Milky Mist's initial plant was set up in a 2 acres of land in Chithode, Erode district. In 2019–20, Milky Mist shifted its manufacturing facility from the old plant to a new plant spread over 55 acres (22ha) with a processing capacity of one million litres (220,000impgal; 260,000USgal) per day (MLPD). It manufactures dairy products like curd, yogurt, mozzarella cheese, and paneer.[8]
The company has been setting up India's largest single-location cheese making unit in Perundurai in the Erode district, about 430km west of Chennai, with an investment of ₹450 crore.[9][10][11]
In July 2024, Milky Mist announced that it is preparing for an initial public offering (IPO) to raise between ₹1,500 crore and ₹2,000 crore, at a valuation of ₹2,000 crore.this company already rejected by many pe funds valuation below 3,000 crore [2] The funds will be used to support its expansion plans, particularly into markets outside southern India, such as Maharashtra, Gujarat, Rajasthan, Madhya Pradesh, and Delhi-NCR.[2]
Products
MMD's products include Curd (Indian Yoghurt), Fresh Paneer, Mozzarella Cheese, Cheddar Cheese, Processed Cheese, Gouda cheese, Fresh and UHT Cream, UHT Milk, Butter, Ghee, Khova, Yoghurts, traditional milk-based products like Shrikhand, Payasam (Kheer), Mishti Doi, Spray dried products such as Dairy Whitener, Skimmed Milk Powder, and Whey Powder. Also, they have launched new products such as Probiotic Curd, Frozen Pizza, UHT Lassi.[12][13]
Operations
MMD operates the largest fully-automated mozzarella plant in the country which comprises a robotic line production facility for paneer.[14][15][16]
MMD procures 8 lakh litres per day of milk directly from 70,000+ farmers spread over 20 districts of Tamil Nadu and 1 district in Karnataka.[8][9][17]
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₹1,940 crore (US$230 million) (2024)