Milky Mist reports US$11.4M revenue in Q2 FY27

INDIA – Milky Mist Dairy Food Ltd reported a 42% year-on-year (YoY) increase in revenue to US$11.43 million (₹1,089 crore) in Q2FY27.

The company’s net profit nearly tripled to US$8.19 million (₹78 crore), up from ₹28 crore in Q2FY26. Higher sales volumes, EBITDA expansion, operational efficiencies, and a deferred tax impact supported the improvement.

Gross profit and EBITDA also reached new quarterly highs, reflecting the company’s ability to maintain growth despite rising input costs across the dairy supply chain.

During the first half of FY2026-27 (H1FY27), Milky Mist recorded 42.5% year-on-year growth in revenue from operations, while EBITDA increased by 62.9%.

Net profit grew almost fourfold year on year, highlighting the company’s improving profitability and expanding market presence.

The company’s performance was largely driven by its diversified portfolio of value-added dairy products, particularly paneer, cheese and curd. Paneer accounted for 44%, cheese 31% and curd 22%.

These categories accounted for the largest share of quarterly revenue, underscoring the growing importance of processed, protein-rich dairy products in India’s organised dairy market.

According to the company’s management, Milky Mist achieved strong growth despite facing 10–11% inflation in milk, fodder and feed prices.

Calibrated product price increases, improved capacity utilisation and operational efficiencies helped offset the impact of higher procurement and production costs.

K. Rathnam, Whole-time Director and CEO of Milky Mist Dairy Foods, stated that the company’s wide range of value-added products played an important role in delivering strong growth.

He also highlighted the contribution of capacity utilisation, operational improvements and pricing strategies in managing the inflationary environment.

Milky Mist is further strengthening its position in the protein-focused dairy segment through new product launches and portfolio diversification.

During the quarter, the company introduced Skyr and Greek yogurt across various product categories. It also launched high-protein lactose-free milk using its existing manufacturing facilities.

The protein-focused category currently contributes approximately 12–14% of the company’s top line by value. This segment represents an important growth opportunity as consumer demand increasingly shifts towards protein-rich, convenient and nutrition-oriented dairy products.

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