Parag Milk Foods

#7713

Rank

$266.39M

Marketcap

India

Country

Leadership team

Mr. Devendra Prakash Shah (Exec. Chairman)

Mr. Pritam Prakash Shah (MD & Exec. Director)

Ms. Akshali Devendra Shah (Sr. VP of Strategy - Sales & Marketing and Exec. Director)

Products/ Services

Consumer, Food and Beverage, Marketing

Number of Employees

1,000 - 20,000

Headquarters

Mumbai, Maharashtra, India

Established

1992

Revenue

100M - 500M

Traded as

PARAGMILK.NS

Social Media

URL

https://www.paragmilkfoods.com

Overview

Location

Recognition and Award

References

Summary

Parag Milk Foods Limited processes, manufactures, and sells milk and milk related products in India. It offers ghee, milk, paneer, curd, butter, dairy whitener, and gulab jamun mix products under the Gowardhan brand; and flavored cheese wedges, spreads, slices, and angles, as well as flavored yoghurt, slim milk, cream, buttermilk, lassi, milkshakes, badam milk, and other products under the Go brand. The company also provides whole milk, fat-free milk, ghee, and curd under the Pride of Cows brand name; flavored milk under the Topp up brand; and sports and nutrition products under the Avvatar brand name, as well as offers lactose products. It also exports its products to the United Arab Emirates, Singapore, Mauritius, Oman, Kuwait, Saudi Arabia, Congo, Hong Kong, the Philippines, Sri Lanka, Bangladesh, Maldives, the United States, Thailand, Nepal, Bhutan, Ghana, Malaysia, Qatar, etc. Parag Milk Foods Limited was incorporated in 1992 and is headquartered in Mumbai, India.

History

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. Thereafter the company began investing in cheese production in 2008. The company invested in a new facility to produce 1200 tonnes of cheese monthly at a time when the country only produced 600 tonnes of cheese a month. Consequently, there was a huge increase in cheese consumption in India with the expansion of quick-service restaurants in the country.In 2008, Motilal Oswal and IDFC Alternative Fund came in as investors in the company. As of 2013, Cheese, Ghee and Yogurt contributed 75% of the company's annual revenue. The company has a second dairy in Palamaner, Andhra Pradesh.In 2016, the company turned public with an initial public offering listing on National Stock Exchange and Bombay Stock Exchange.

Mission

Should be able to trust our brands. This is why food quality is a fundamental requirement for Parag. We make every effort to ensure that our processes are safe, and that high quality standards are maintained throughout the supply chain.

Vision

Elaborate and disseminate best practices at all our infrastructures, a dairy farms set on global standards, a modern fully automated cheese plant with state of the art technology, a ghee plant with traditional way of making ghee like made at home and an UHT milk processing plant using the best equipment from one of the leading plant equipment manufacture.

Key Team

Mr. Surendra Malaviya (Interim Chief Financial Officer)

Mr. Sanjay Nakra (VP of Operations)

Ms. Sangeeta Tripathi (Sr. Mang. of Investor Relations)

Mr. Virendra Varma (Company Sec. & Compliance Officer)

Ms. Pournima Surve (Sr. Mang. of Corp. Communication & PR)

Mr. Arvind Desai (Head of HR)

Mr. Shirish Upadhyay (Sr. VP of Strategy & Planning)

Recognition and Awards

Parag Milk Foods has won several awards notably, The Great Place to Work Award, The FICCI Food & Beverage Quality Excellence Award, Fortune 500 and National Award for outstanding contribution to dairy development in India.