Milky Mist Q1 profit jumps nearly 10x as revenue rises 44%

Milky Mist reported Q1 FY27 PAT of ₹64.68 crore, versus ₹6.53 crore a year earlier, as revenue climbed 43.6% to ₹973.45 crore. Growth was led by paneer, cheese, ice cream and yogurt, while EBITDA margin expanded to 14.88%.

— Source publishedTue, 1 Sept, 2026, 09:56 IST·First seen Tue, 1 Sept, 2026, 10:30 IST·Source Business Standard · Companies

What happened

Milky Mist reported sharply higher quarterly profit and revenue, driven by strong sales across dairy categories in Southern India. The company plans portfolio

Key facts

  • PAT ₹64.68 crore in Q1 FY27 versus ₹6.53 crore a year earlier, up 889.81% YoY
  • Revenue ₹973.45 crore versus ₹678.09 crore, up 43.6% YoY
  • EBITDA margin 14.88% versus 12.24%
  • Paneer revenue up 34%; cheese up 38%; curd up 27%; ice cream up 60%; yogurt up 153%
  • Share price rose as much as 9.53% to ₹231; traded 65% above ₹140 IPO price

Why this matters

Milky Mist’s rapid expansion in branded value-added dairy makes it a more strategically relevant partner, competitor or acquisition benchmark for players seeking exposure to paneer, cheese, yogurt and frozen dairy growth.

What to watch

  • Whether revenue growth remains above 30% in the next two quarters after the favorable base effect fades.
  • EBITDA margin durability relative to the reported 14.88%, particularly during milk procurement-price changes.
  • Volume growth versus price/mix growth in paneer, cheese, ice cream and yogurt.
  • Advertising, employee and distribution-expense growth as a share of sales.
  • Capacity expansion announcements, utilization levels and working-capital movement.
  • Competitive pricing and new product activity from large dairy, FMCG and regional players.
  • Summer ice-cream demand and monsoon-linked milk supply conditions.
  • Accelerate modern-trade, quick-commerce and foodservice distribution for paneer, cheese and yogurt.
  • Add cold-chain, processing and milk-procurement capacity ahead of demand to avoid service-level constraints.
  • Use stronger profitability to increase brand advertising and launch premium or convenience-led dairy formats.
  • Pursue selective geographic expansion beyond core southern markets, likely through distributor and refrigerated-logistics partnerships.
  • Strengthen farmer procurement relationships and hedging/contract structures to protect against milk-price volatility.