Investor Presentation

Here's a concise, retail-friendly summary: **Business Performance:** Parag Milk Foods reported strong FY26 results: ₹3,818 Cr revenue (+11% YoY). Q4 revenue hit ₹945 Cr (+3%). The New Age business (Pride of Cows, Avvatar) was a standout, surging 109% in Q4 and 91% for FY26, reaching ₹100 Cr quarterly and contributing 11% to total turnover.

Core categories delivered solid value growth. **Growth Drivers & Strategy:** The company is strategically focused on premium segments, strengthening core brands, and innovating new products.

Expansion via direct-to-consumer and e-commerce channels targets high-value, high-margin growth. **Recent Developments:** The New Age business hitting ₹100 Cr in quarterly revenue and the company achieving its highest-ever annual revenue are key highlights.

Capital structure also saw improvements. **Key Financial Metrics:** Q4 consolidated profit grew 23% to ₹32 Cr, with gross margins improving to 28.0%. FY26 profit (before exceptional items) rose 19% to ₹141 Cr.

The balance sheet strengthened, reducing net debt to ₹484 Cr (0.4x Net Debt/Equity), alongside robust ROCE (13.6%) and ROE (11.3%). **Management Commentary / Outlook:** Management successfully navigated milk price volatility.

The outlook is to evolve into a leading health and nutrition company offering innovative protein solutions.