Madison wins media mandate for Parag Milk Foods
Madison has won the media mandate for Parag Milk Foods. The dairy-based product maker had issued a Request for Proposal (RFP) in April this year for its media planning and buying account. Madison will manage the media duties for all the sub-brands.
According to sources, the account size is approximately INR 100 to 120 crore. Madison will oversee the mandate for the entire product portfolio, including Gowardhan, Go, Pride of Cows, and Avvatar. The brand recently expanded its health and fitness portfolio with the launch of Avvatar, Performance Whey Protein, made from cow’s milk.
Akshali Shah, Executive Director of Parag Milk Foods, confirmed the development to Storyboard18 and said, “At Parag Milk Foods Ltd., we deeply value our partnership with Madison, which has been a driving force in shaping our brand's growth and innovative approach to marketing. Together, we have transitioned from traditional media to high-impact, multi-platform strategies that resonate more deeply with our audience.”
Shah further stated, “Madison has been instrumental in our collaborations with popular shows like Kaun Banega Crorepati, India’s Got Talent, Super Singer, Anupamaa, and more recently, Bigg Boss. These partnerships have enabled us to create immersive brand experiences, such as Go Cheese’s ‘Greed Corner’ in Bigg Boss, and extend our reach across TV, OTT, and in-show integrations.”
“We look forward to continuing this valuable relationship with Madison, further strengthening our presence and fostering long-term brand loyalty across diverse platforms,” she added.
Sam Balsara, Chairman of Madison said, "Parag Milk Foods has consistently demonstrated innovation and a deep understanding of the evolving consumer landscape. Their ability to blend tradition with modern marketing techniques sets them apart in the dairy FMCG sector. At Madison, we are proud to have played a key role in aligning their marketing strategies with their growth ambitions, fostering a successful and long-lasting partnership."
In the past, Parag Milk Foods had multiple agencies on board, including GroupM’s m/SIX, Gozoop, Carat, Scion, J. Walter Thompson India (now VML India), among others.
Parag Milk Foods Ltd (PMFL) reported an 8.5 percent revenue growth in the 2023-24 fiscal, reaching INR 3,139 crore, driven by strong brand equity and competitive market positioning. The company earned a gross profit of INR 749 crore (with a margin of 23.9 percent) compared to INR 569 crore (margin of 19.7 percent). Profit after tax was INR 91 crore (compared to INR 53 crore), up 70 percent. EBITDA, with a margin of 7.1 percent, was INR 222 crore.
Parag’s milk products have a global presence, with the brand available in multiple countries, including the USA, the Philippines, Mauritius, Australia, Korea, China, and Singapore.