Parag Milk Foods Limited

INR 852

y FMCG Premiumization & Brand Strength Key Message from Chairman • Highest ever Q1 Revenue at INR 852 Cr, up 12% YoY Volume growth 5% YoY • Core category contributed to 57% of total revenue •

12%

ization & Brand Strength Key Message from Chairman • Highest ever Q1 Revenue at INR 852 Cr, up 12% YoY Volume growth 5% YoY • Core category contributed to 57% of total revenue • New Age b

5%

h Key Message from Chairman • Highest ever Q1 Revenue at INR 852 Cr, up 12% YoY Volume growth 5% YoY • Core category contributed to 57% of total revenue • New Age biz (Pride of Cows and

57%

er Q1 Revenue at INR 852 Cr, up 12% YoY Volume growth 5% YoY • Core category contributed to 57% of total revenue • New Age biz (Pride of Cows and Avvatar) 9% of overall business (6% LY) d

9%

e category contributed to 57% of total revenue • New Age biz (Pride of Cows and Avvatar) 9% of overall business (6% LY) driving premium segment growth • Core categories (Ghee, Cheese, Pan

6%

o 57% of total revenue • New Age biz (Pride of Cows and Avvatar) 9% of overall business (6% LY) driving premium segment growth • Core categories (Ghee, Cheese, Paneer) saw 14% value grow

14%

business (6% LY) driving premium segment growth • Core categories (Ghee, Cheese, Paneer) saw 14% value growth, 9% volume growth v • Market leader with #1 in branded cow ghee (22% share) and

22%

eer) saw 14% value growth, 9% volume growth v • Market leader with #1 in branded cow ghee (22% share) and v #2 in cheese (35% share) • • • EBITDA 7.7% vs 8.1% LY, Gross profit grew to I

35%

lume growth v • Market leader with #1 in branded cow ghee (22% share) and v #2 in cheese (35% share) • • • EBITDA 7.7% vs 8.1% LY, Gross profit grew to INR 233 Cr, with Gross profit marg

7.7%

der with #1 in branded cow ghee (22% share) and v #2 in cheese (35% share) • • • EBITDA 7.7% vs 8.1% LY, Gross profit grew to INR 233 Cr, with Gross profit margin at 27.4% vs 27.5% LY New

8.1%

#1 in branded cow ghee (22% share) and v #2 in cheese (35% share) • • • EBITDA 7.7% vs 8.1% LY, Gross profit grew to INR 233 Cr, with Gross profit margin at 27.4% vs 27.5% LY New-age bus

INR 233

% share) and v #2 in cheese (35% share) • • • EBITDA 7.7% vs 8.1% LY, Gross profit grew to INR 233 Cr, with Gross profit margin at 27.4% vs 27.5% LY New-age business revenue up 57% YoY Enhanced

“ABOUT THE COMPANY 29 CHAIRMAN’S MESSAGE A journey that began with farmers is now aiming to provide complete nutrition to consumers across the globe.”

“36 © 2025 All Rights Reserved | Parag Milk Foods DRIVING FINANCIAL GROWTH Gross Margin EBITDA 569 569 768 768 885 885 163 163 226 226 293 293 Amount in ₹ Cr Amount in ₹ Cr PAT Cashflow From Operations 53 91 119 FY23 FY24 FY25 212 102 In FY25, Parag Milk Foods demonstrated a robust financial performance.”

“of days of sales) 74 72 21 75 72 28 62 61 28 The company’s financial position has strengthened in FY25 with improved return ratios (ROCE at 14.3%, ROE at 12.3%), lower Net Debt/Equity (0.5x), and enhanced working capital efficiency—Net Working Capital days have reduced from 74 to 62 over three years.”

Regional Impact at Scale

1

Website

1

Regional Impact at Scale

Go Cheese Integration with Maharashtrachi Hasya Jatra – for Consumer Connect © 2025 All Rights Reserved | Parag Milk Foods X 21 BRAND BUILDING & INNOVATION Print Ad Campaigns Digital Campaigns Offline Activities Quick Commerce Creatives & Campaign “What’s The Source” Campaign Performance Media Campaigns © 2025 All Rights Reserved | Parag Milk Foods 22 BRAND BUILDING & INNOVATION Influencer activity 120 + influencers Store branding Pan India Digital Marketing New product launch Offline Consumer Offers Online Consumer Offers Avvatar protein BAR-POSM 5 Sachet Travel Pack © 2025 All Rights Reserved | Parag Milk Foods 23 STRENGTHENING NEW AGE BUSINESS Grew by 57% during Q1FY26 YoY Contributes to 9%of overall business Pride of Cows and Avvatar Sports Nutrition represent the New Age Business stream of the company - a strategic pivot towards premium, consumer-centric brands. These ventures are built on strong differentiators: single-origin purity for Pride of Cows and performance focused nutri

Website

B2B 35% of total Business Institutional Large Format Corporates E-Commerce Mobile Application 27 © 2025 All Rights Reserved | Parag Milk Foods DRIVING FINANCIAL GROWTH Revenue 900 800 700 600 500 400 300 200 750 758 691 569 569 768 768 885 885 852 Gross Margin 250 27.5% 27.4% 200 150 100 50 0 21.4% 160 15.2% 105 163 163 209 233 226 226 293 293 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% Q1 FY23 Q1 FY24 Q1 FY25 Q1 FY26 Q1FY23 Q1FY24 Q1FY25 Q1FY26 Q1 FY23 Q1 FY24 Q1 FY25 Q1 FY26 Amount in ₹ Cr Gross Margin Gross Margin % Amount in ₹ Cr EBITDA 70 60 50 40 30 20 10 0 5.9% 41 53 6.5% 48 8.1% 62 91 7.7% 66 119 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% Q1FY23 Q1FY24 Q1FY25 Q1FY26 PAT 30 25 20 15 10 5 0 2.9% 21 1.5% 10 3.6% 3.2% 27 28 4.0% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% Q1FY23 Q1FY24 Q1FY25 Q1FY26 EBITDA EBITDA % Amount in ₹ Cr PAT PAT % Amount in ₹ Cr In Q1FY26, Parag Milk Foods demonstrated a robust financial performance. Gross Margin stood at 27%, and EBITDA at ₹66 Cr (7.7% of