Parag Milk Foods Ltd posts Rs. 17.50 crore consolidated PAT in Q1FY22

Parag Milk Foods Ltd has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.441.55 crores during the period ended June 30, 2021 as compared to Rs.441.16 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.17.50 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.(9.64) crores for the period ended March 31, 2021.

The company has reported EPS of Rs.1.81 for the period ended June 30, 2021 as compared to Rs.(1.15) for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 441.55 crs	₹ 441.16 crs	0.09%
Net Profit	₹ 17.50 crs	₹ (9.64) crs	281.54%
EPS	₹ 1.81	₹ (1.15)	257.39%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.441.55 crores during the period ended June 30, 2021 as compared to Rs.437.05 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.17.50 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.3.23 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.1.81 for the period ended June 30, 2021 as compared to Rs.0.38 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 441.55 crs	₹ 437.05 crs	1.03%
Net Profit	₹ 17.50 crs	₹ 3.23 crs	441.8%
EPS	₹ 1.81	₹ 0.38	376.32%

Commenting on the performance, Mr. Devendra Shah, Chairman said "FY22 has started positively for the Company. Despite the 2nd wave of CoVID-19 during the quarter, the Company recorded 1% growth in revenues and a stellar 51% and 441% growth in EBITDA and PAT, respectively.

Due to 2nd wave of CoVID and subsequent lockdowns announced, there were further restrictions on opening of outlets and their timings. Further unlike the first wave during last year, there was no panic purchase observed during this time. Despite these challenges, we have been able to grow our business and achieve better profitability.

We are seeing third consecutive year of good monsoons undergoing in the country currently. With better water & feed availability, we are seeing stable milk situation with respect to its availability as well as pricing. During the last quarter, we have seen repeat of the situation like last year with raw milk prices softening because of lockdowns & lower demand while we increased procurement to support the farmers. With pandemic situation easing & vaccination picking steam, we are seeing gradual pick-up in momentum and the festive season is slated to begin from August 2021, leading to further improvement in demand. We are geared up and well placed to capture the opportunities and drive the growth ahead. We expect demand situation to normalise during later part of second quarter. We also expect to normalise our margins during the year.

We have also continued our cost rationalisation efforts to minimise the impact on profitability in these times. We have been proactive in adapting our distribution as well as supply chain in this situation along with introduction of new products and brand building efforts.

We have been committed to our long-term goal of providing the highest level of consumer satisfaction with our host of well-established brands and we are confident of achieving robust operational and financial performance with Ju/I-fledged revival in demand across product categories."

Shares of Parag Milk Foods Ltd was last trading in BSE at Rs. 141.85 as compared to the previous close of Rs. 136.4. The total number of shares traded during the day was 58281 in over 1517 trades.

The stock hit an intraday high of Rs. 142.05 and intraday low of 136.1. The net turnover during the day was Rs. 8187121.

Source : Equity Bulls

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