Parag Milk Foods reported 18.3% PAT growth for Q4FY18
Aggressive distribution expansion and product launches aided healthy growth for the company
The company enjoys 33% market share in the Indian cheese industry, which is growing at 31% CAGR. In order to tap this growing opportunity and increase its share, company is aggressive in launches, distribution network and retail segment. It launched Go Cheese cubes in order to increase its penetration in the retail segment, primarily strengething its distribution network in the tier II and tier III cities, where cheese penetration is increasing rapidly. Further, the growing QSR industry in India also provides huge opportunity in the institutional segment.
The company has indicated that it would continue with the product innovation in order to drive growth going forward. Earlier in April, company acquired the Danone Foods and Beverages India Pvt Ltd.’s manufacturing facility at Sonipat, Haryana. The facility manufactures curd, yogurt and other related products with current milk processing capacity of 0.75 LLPD and curd processing capacity of 15 MT.