Launch of curd moved stocks price of Parag milk foods by 7%

Could launch of premium curd have such an impact on shares of a dairy company ? It has happened for the first time in India. Shares of Parag Milk Foods rallied as much as 7 per cent to Rs 111.70 a piece. I happened after the company introduced a new product to its premium category.

At 01:15 PM, the stock was trading over 3 per cent higher at Rs 107.50 on the BSE. The stock had hit its 52-week low level at Rs 48.50, on March 19, 2020. Also read Seven listed dairy stocks almost doubled their investor’s wealth during Covid

Parag Milk Foods Ltd, a leading dairy Company has reputed brands such as ‘Gowardhan’, ‘Go’, ‘Pride of Cows’ and ‘Avvatar’. Paraga has launched Pride of Cows Curd, Full of Love on August 14th. Pride of Cows Curd is made from pure Pride of Cows milk which is unmatched in its quality and freshness. It is derived from the Company’s own farm. The curd will be delivered to the consumer’s doorstep through a completely contact-free process . The process involves a full automated milking and production system and a cold chain network. The cold chain maintains a constant temperature throughout in order to retain the curd’s flavor and aroma.

Pride of Cows Curd has a thick and creamy texture, and is high in nutrients such as protein and calcium. It is made from POC milk, a first-of-its kind superior, farm-to-home milk. It caters to consumers who believe in consuming healthy and nutritious products that are natural and pure.

Changing consumer trends

Commenting on the launch, Mr. Devendra Shah, Chairman, Parag Milk Foods Ltd said, “The industry has witnessed a massive revamp in the food category. Given the current pandemic situation, consumers have become increasingly conscious about the food they consume. The consumers prefer food products that are derived from a known source. They are selecting brands that can deliver safety & purity coupled with health benefits and qualities that boost immunity. The launch of Pride of Cows Curd is in line with our commitment of meeting evolving consumer needs . And providing health and nutrition to consumers across the country.”

The curd market has witnessed a significant growth in the recent past . It is because on account of a burgeoning number of health conscious consumers. Several health benefits are associated with curd, such as high-protein and gut-friendly nature with all the goodness of milk. The curd market is bound to grow rapidly in the coming years. Also read Per capita availability of milk to cross 470 gms by 2023

Fresh Farm milk category is coming of age

Pride of Cows have been in the premium Farm-to-Home milk segment for 9 years and now taking this legacy forward. The POC Curd, a curd so perfect that consumers can vouch for taste, creaminess, quality, aroma and flavor.

We believe that Pride of Cows curd will cater to a growing its target group of health-conscious consumers who seek fresh farm milk products on their table. To increase consumer awareness, we will be launching a full-fledged digital marketing campaign.”

Curd Market size

According to the IMARC report, growing urbanization has led to an increase in demand for packaged curd. In 2017, the total curd market in India was estimated to be INR 664 Billion (US$ 9.2 Billion) having grown at a CAGR of 13.4% during the 2010-2017 period. Going forward, the Indian curd market is projected to grow at a CAGR of 15.4% during the 2018 – 2023 period to reach INR 1,573 Billion (US$ 22 Billion) by 2023. The unorganized and organized curd market are expected to reach a value of INR 1,427 Billion (US$ 19.8 Billion) and INR 146 Billion (US$ 2.0 Billion) respectively.Also read Profitability of dairy industry to reduce by 0.50-0.75% : Crisil report

‘Pride of Cows Curd – Full of Love’ will be available in Mumbai, Pune and Surat and will be priced at Rs. 80/- for 320 gms. The product would initially be available to Pride of Cows customers under the subscription based model followed by placement in select outlets.