Milky Mist Dairy Food has started FY27 with a sharp profitability surge, reporting a nearly ninefold year-on-year increase in profit after tax to ₹65 crore in Q1FY27, compared with ₹6.53 crore in the same quarter last year. Revenue from operations rose 43.6% to ₹973.45 crore, from ₹678.09 crore a year earlier, driven by strong demand across its value-added dairy and packaged-food portfolio.
The company’s gross profit increased 56.1% to ₹333.02 crore, while gross margin improved to 34.21% from 31.46%. EBITDA climbed 74.5% to ₹144.89 crore, compared with ₹83.02 crore in Q1FY26, pushing the EBITDA margin up to 14.88% from 12.24%.
Growth was broad-based, with the extended summer season—particularly in South India—supporting demand for ice cream, curd and yogurt. Paneer remained the largest revenue contributor, growing 34%, while cheese revenue increased 38%, curd 27%, ice cream 60%, and yogurt delivered the strongest growth at 153% year-on-year.
Milky Mist attributed the improvement in gross profit to higher volumes, a better product mix and pricing ability, while operational efficiencies supported EBITDA growth and margin expansion. During the quarter, the company also commissioned a new cheddar cheese plant with an installed capacity of 120 metric tonnes per day, strengthening its manufacturing capabilities.
The Q1 performance is also significant because it is Milky Mist Dairy Food’s first quarterly earnings report after its stock-market listing. The company listed on August 18, 2026, following its ₹1,553-crore IPO, which comprised a fresh issue of 10.20 crore shares worth ₹1,428 crore and an offer for sale of 89 lakh shares valued at ₹125 crore; the stock debuted at ₹165, an 18% premium to the ₹140 issue price.
Looking ahead, Whole-Time Director and CEO Dr K Rathnam said the company will focus on profitable growth through portfolio expansion, operating discipline and investments in manufacturing and distribution capabilities. Milky Mist also plans to expand its value-added food range, strengthen brands and distribution, and increase its presence across markets.
The company’s longer-term growth trajectory is also notable: revenue grew at a 31.26% CAGR between FY24 and FY26, reaching ₹3,138.36 crore in FY26. In FY26, Milky Mist was the largest private packaged paneer brand in India’s organised market, the largest private packaged cheese brand in South India, and among the top two private packaged yogurt brands in India. (The Economic Times)
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