Milky Mist Revenue Rises 41.6%; Net Profit Jumps 174.5% YoY.

Milky Mist Dairy Food Limited reported strong financial performance for the second quarter of FY2026–27, with revenue from operations increasing 41.6% year-on-year to ₹1,089.40 crore for the quarter ended September 30, 2026. Net profit rose 174.5% to ₹77.94 crore, compared with ₹28.39 crore in the corresponding quarter last year.

The results underline the company’s growing focus on value-added dairy products, protein-rich offerings and expanding market reach.

Revenue and Profitability Reach New Quarterly Highs

Milky Mist recorded its highest-ever quarterly revenue, supported by growth across its product portfolio and increasing demand for value-added dairy products.

Key financial highlights for Q2 FY27 include:

• Revenue from operations: ₹1,089.40 crore, up 41.6% year-on-year from ₹769.47 crore.
• EBITDA: ₹165.21 crore, up 53.9% from ₹107.35 crore.
• EBITDA margin: Increased to 15.17% from 13.95%.
• Profit after tax: ₹77.94 crore, up 174.5% from ₹28.39 crore.
• Gross profit: ₹368.83 crore, an increase of 46.4% year-on-year.

The improvement in profitability was attributed to volume growth, operational efficiencies, product mix and stronger EBITDA performance. Loan repayments and the recognition of a deferred tax asset also contributed to the increase in reported profit after tax.

Protein Products and Yoghurt Drive Growth

Milky Mist identified its protein-focused range as its fastest-growing segment during the quarter, reflecting the company’s emphasis on products positioned around higher protein intake and value-added nutrition.

Yoghurt continued to be one of its fastest-growing categories. During Q2, the company expanded its portfolio with four-pack formats of Skyr and Greek yoghurt, following the introduction of high-protein paneer cubes in Q1.

The company has also introduced high-protein lactose-free milk using existing manufacturing facilities, extending its presence in the protein-focused dairy segment.

These developments reflect a broader strategic emphasis on differentiated dairy products rather than relying solely on conventional milk sales.

First-Half Performance Remains Strong

For the first half of FY2026–27, Milky Mist reported continued growth across key financial indicators.

• Revenue from operations: ₹2,062.85 crore, up 42.5% year-on-year.
• EBITDA: ₹310.10 crore, up 62.9%.
• Profit after tax: ₹142.62 crore, compared with ₹34.92 crore in the corresponding period last year—a rise of 308.4%.

The figures indicate that revenue growth has been accompanied by stronger operating earnings and improved margins.

Capacity Utilisation and Distribution Remain Priorities

Milky Mist’s management said the company would continue to scale its value-added product portfolio, expand distribution and improve capacity utilisation to meet changing consumer demand.

Future priorities include investments in milk procurement, manufacturing capabilities and market expansion, while maintaining a focus on profitable growth.

The company also cited agricultural-sector inflation, El Niño-related impacts and geopolitical uncertainties as challenges during the period.

What This Means for India’s Dairy Industry

Milky Mist’s results highlight the commercial potential of value-added dairy categories, including yoghurt, paneer and protein-enriched products.

For dairy processors, the opportunity lies in combining product innovation with efficient manufacturing, stronger distribution and reliable milk procurement. However, sustaining growth will depend on managing raw milk costs, maintaining margins and converting consumer demand into profitable sales.

As competition intensifies in organised dairy, companies that balance innovation with operational efficiency may be better positioned to capture growth in premium and functional dairy categories.

Source: Read full story here 30 Oct, 2026 Edited and Reported by

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