Revenue and EBITDA show strong growth
Milky Mist Dairy Food Ltd has reported a sharp improvement in profitability for the first quarter of FY2026-27, supported by higher sales volumes, a stronger product mix, pricing ability and operational efficiencies.
The company’s net profit rose 829% year on year (YoY) to ₹65 crore, compared with ₹7 crore in the corresponding quarter of the previous year. Revenue from operations increased 43.6% to ₹973.45 crore, from ₹678.1 crore a year earlier.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) also recorded significant growth, rising 77% YoY to ₹143.8 crore, compared with ₹81.3 crore in Q1 of the previous year. The EBITDA margin improved to 15% from 12%, reflecting stronger operational performance.
Value-added dairy categories drive expansion
Milky Mist’s growth was broad-based across its product portfolio, with value-added dairy categories continuing to gain momentum.
Paneer remained the company’s largest revenue contributor, recording 34% YoY revenue growth. Cheese revenue increased 38%, while curd sales grew 27%.
The company’s summer-focused portfolio also performed strongly, particularly across southern India, where an extended summer season supported demand for chilled and frozen dairy products.
| Category | Revenue Growth YoY |
|---|---|
| Paneer | 34% |
| Cheese | 38% |
| Curd | 27% |
| Ice Cream | 60% |
| Yogurt | 153% |
Among these categories, yogurt was the strongest performer, with revenue increasing 153% YoY. Ice cream revenue also rose 60%, highlighting continued consumer demand for convenient and value-added dairy products.
New cheese plant strengthens manufacturing capacity
Milky Mist has also continued investing in manufacturing capabilities to support its expansion.
During Q1FY27, the company commissioned a new Cheddar Cheese Plant with an installed capacity of 120 metric tonnes per day. The facility is expected to strengthen the company’s ability to serve growing demand for cheese while supporting its broader strategy of increasing value-added product offerings.
The company said its growth was supported by new product variants, process and product innovation, deeper market penetration and expansion into existing and new geographies.
Higher volumes and better mix improve profitability
The sharp improvement in gross profit was primarily attributed to higher sales volumes, an improved product mix and the company’s ability to implement pricing.
Operational efficiencies further supported EBITDA growth and margin expansion. The results indicate that Milky Mist is increasingly benefiting from a shift towards higher-value dairy products rather than relying solely on volume growth in traditional categories.
The company is also expanding its distribution network and brand presence as it seeks to strengthen its position in the value-added food and FMCG segment.
Focus remains on profitable growth
Dr K Rathnam, Whole-time Director and CEO of Milky Mist Dairy Food, said the company would continue focusing on profitable growth during FY27 through portfolio expansion, operating discipline and investments in manufacturing and distribution.
The company plans to expand its range of value-added food products, strengthen its brands and distribution network, and increase its presence across markets.
Milky Mist also intends to balance investments for future growth with financial discipline and operational efficiency.
Strong start to FY27
Milky Mist’s Q1 performance reflects the growing importance of value-added dairy products in India’s evolving food market. Strong performances from yogurt, ice cream, cheese, paneer and curd demonstrate the company’s ability to capture demand across multiple consumption occasions.
With increased manufacturing capacity, broader distribution and continued product innovation, the company is positioning itself for further expansion during FY2026-27.
Key Q1 FY27 highlights:
- Net profit: ₹65 crore, up 829% YoY
- Revenue: ₹973.45 crore, up 43.6% YoY
- EBITDA: ₹143.8 crore, up 77% YoY
- EBITDA margin: 15%, versus 12% previously
- Cheddar cheese capacity: 120 MT/day
- Yogurt revenue growth: 153% YoY
- Ice cream revenue growth: 60% YoY
