Thread by @stockifi_Invest

Mega-Thread on the story of Parag Milk: Owner of India's most profitable brand in the FMCG category @ParagMilkFoods

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1) Parag Milk Foods Ltd (PMFL), founded in 1992, is one of India's leading dairy FMCG companies.

2) The Company manufactures a diverse range of cheese, ghee, fresh milk, whey proteins, paneer curd yogurt, and dairy-based beverages.

3) The Company enjoys a strong reputation and brand recall across several geographies through its exports across UAE, Singapore, Oman, Kuwait, Mauritius, New Zealand, Australia, Congo, Seychelles, Iraq, USA, Hong Kong, Philippines, Sri Lanka UAE, and Bangladesh.

4) The Company supplies farm-to-home premium fresh milk from Bhagyalaxmi Dairy which it sells in Mumbai, Pune Surat, and the Delhi-NCR region.

5)As of March 31, 2019, the Company has one wholly-owned subsidiary, Bhagyalaxmi Dairy Farms Pvt Ltd (BDFPL), located at Manchar Pune.

6) The Company was incorporated as Parag Milk & Milk Products Private Limited on December 29, 1992.

7) Consequently, the Company was renamed Parag Milk Foods Private Ltd.

8) The Company was converted into a public limited company on May 16, 2015.

9) Parag Milk Foods Ltd started commercial production in 1992 and commissioned the Manchar Pune plant for production in 1998 under the Gowardhan Brand.

10) The Company launched Bhagyalaxmi Dairy Farms in 2005 and started operations at the Palamaner Plant in 2010.

11) The Company launched milk under the 'Pride of Cows' Brand in 2011.

12) Parag had raised Rs 80 crore from the International Finance Corporation to set up a whey plant.

13)Whey proteins are highly profitable by-products in the manufacture of yogurt.

14) They are sold as protein supplements, and Parag is now only the second in the country after Amul to enter this lucrative market.

15)In June 2019, Pride of Cows claimed to become the first Indian brand to sell fresh milk in Singapore.

16) Parag has also used the cows as a good marketing opportunity.

17) Under the Pride of Cow brand name, the Company supplies fresh milk to households in Mumbai at Rs 75 a liter.

18) It had managed to get 1,000 customers, including the likes of Mukesh Ambani, for this by-invitation-only product.

19) The Company has been launching various products in milk and cheese in subsequent years.

20) It's a decision that has paid off in spades. Cheese consumption has zoomed over the years, and Parag locks on institutional clients such as Domino's, Pizza Hut, and Papa John's.

21) “Go Cheese" was awarded as India's most profitable brand in the FMCG category by World Consulting and Research Corporation.

22) Parag Milk Foods raised Rs 300 crore through a fresh issue of 136.99 million equity shares in an initial public offer in May 2016.

23) The company has expanded its cheese slice range with flavors like Piri Piri chutney cheese Kachha Aam Schezwan and Acchari and other product categories like Pre-mix with Go Easy Shake and relaunched dairy whitener under the Milk Rich brand name.

24)During the year, the Company expanded the distribution of fresh milk in the upcountry Tamil Nadu market.

25) During the financial year ended March 31, 2018, the Company introduced fresh dahi to strengthen its presence in the north region.

26) With this launch, the Company has expanded its geographical reach and entered the Rs 1500 crore curd market of Delhi.

27) The Company also launched Mishti Doi, which is nutritionally rich in protein. It is a traditional Bengali dessert.

28)The addition of Mishti Doi to its portfolio will further build up the Gowardhan Dahi category.

29) The Company also launched Gowardhan Paneer as a fresh paneer category with a shelf life of 75 days and is made from 100 % cow's milk. It is a rich source of proteins & vitamins

30)It is the only product that has used ESL technology.

31) To strengthen its presence in the north, the Company acquired the manufacturing unit of Danone Foods and Beverages India Pvt Ltd., the local entity of French dairy firm Danone SA.

32) The acquisition will strengthen their distribution of fresh products like Dahi paneer yogurt in India's Northern and Eastern regions, largely dominated by buffalo milk consumption.

33)This move will give them an edge to understand consumer preferences in north India.

34) The plant is spread across 5500 square meters on the outskirts of Delhi NCR.

35)Its current milk processing capacity is 0.75 LLPD (lakh liter per day), along with a curd processing capacity of 15 tones.

36) If Amul has become The Taste of India, Parag is well-positioned to take a bit of that taste. If you are not No 1, you compete harder.

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