Milky Mist Q1 revenue rises 44%; high-protein paneer and Tamil Nadu plant planned
Milky Mist reported Q1 FY27 revenue of ₹973.4 crore, up 43.6% year on year, while EBITDA rose 77% and margin expanded to 14.8%. Growth was led by paneer, cheese, yogurt and ice cream. The dairy company is preparing a high-protein paneer launch and a new manufacturing plant in Tamil Nadu.
What happened
Milky Mist Dairy Food Ltd · Milky Mist reported strong Q1 FY27 growth across dairy categories, supported by paneer, cheese and curd. It plans a high-protein
Key facts
- Q1 FY27 revenue Rs 973.4 crore, up 43.6% YoY
- Paneer revenue up 34%; cheese 38%; curd 27%; yogurt 153%; ice cream 60%
- EBITDA Rs 143.8 crore, up 77%; margin 14.8% versus 12%
- PAT Rs 64.7 crore versus Rs 6.5 crore
- High-protein segment expected to grow 50-60% annually
What changed
Milky Mist reported strong Q1 FY27 growth across dairy categories, supported by paneer, cheese and curd. It plans a high-protein paneer launch and a new Tamil Nadu manufacturing plant to expand capacity, while its shares hit the 5% upper circuit.
Why this matters
Milky Mist’s 44% revenue growth and 280-bps EBITDA margin expansion signal strong execution in value-added dairy, with paneer, cheese, yogurt and ice cream driving momentum ahead of added Tamil Nadu capacity.
What to watch
- Milk procurement price trends and seasonal supply conditions.
- High-protein paneer launch timing, pricing, repeat purchase and retailer shelf placement.
- Tamil Nadu plant commissioning date, capex spend and initial utilization levels.
- Whether EBITDA margin remains near or above 14% after launch and expansion costs.
- Paneer, cheese, yogurt and ice-cream growth versus core milk-led categories.