Parag Milk Foods

Parag Milk Foods Limited

Company type	Public
Traded as	BSE:  539889 NSE:  PARAGMILK
Industry	Dairy
Founded	1992;33 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 is a Pune-based private dairy.

History

Parag Milk Foods started as a dairy in Manchar with a 20,000 litre capacity in 1992. It started with production of skimmed milk powder and by 2004 became India's largest exporter of the skimmed milk powder.^{[ citation needed ]} However, the company faced a challenge when the Government of India banned export of milk powder on account of local milk shortage. ^{[3] [4] [5]}

Acquisitions

In 2018, Parag Milk Foods acquired Danone's facility in Sonipat, Haryana for ₹30 crore (US$3.5 million) after the latter decided to shut its dairy operations in India. ^{[6] [7]}

References

1. Ananya Saha, Ananya (12 June 2018). "'Swimming is my favourite workout': Devendra Shah, Chairman, Parag Milk Foods". The Financial Express. Retrieved 5 May 2019.
2. "Parag Milk Foods Limited Annual Report 2017-18" (PDF). Retrieved 5 May 2019.
3. Mudgill, Amit (19 May 2016). "Modest debut: Parag Milk Foods lists at Rs 217.50, a premium of 1.2% over issue price". The Economic Times. Retrieved 5 May 2019.
4. "Parag Milk shares stage decent debut, surge 14% against issue price". Business Today. Retrieved 5 May 2019.
5. Kulshrestha, Ashish (17 May 2017). "Dairies, aerated drink companies eye high-margin milk-based beverages". The Economic Times. Retrieved 5 May 2019.
6. Mitra, Sounak (20 April 2018). "Parag Milk buys Danone dairy factory in Haryana". Live Mint. Retrieved 5 May 2019.
7. Pinto, Viveat Susan (23 April 2018). "Danone's loss is Parag's gain: Are dairy MNCs facing challenges in India?". Business Standard India. Retrieved 5 May 2019.

External links

• Official website