Parag Milk zooms 40% so far in September, hits 7-yr high on healthy outlook

Shares of Parag Milk Foods surged 14% to ₹316.50 on the back of heavy volumes, and are quoting at the highest level since September 2018.

Parag Milk Foods share price today

 

Shares of Parag Milk Foods hit a seven year high at ₹316.50, as they surged 14 per cent on the BSE in Monday’s intra-day trade amid heavy volumes owing to a healthy business outlook. Thus far in the month of September 2025, the stock has rallied 40 per cent.

 

The stock price of the dairy products company was quoting at its highest level since September 2018. It had hit a record high of ₹414.95 on May 17, 2018.

 

At 10:31 AM; Parag Milk Food stock was quoting 13 per cent higher at ₹315, as compared to 0.03 per cent decline in the BSE Sensex. The average trading volumes at the counter jumped four-fold with a combined 6.54 million equity shares changing hands on the NSE and BSE.  CATCH STOCK MARKET LIVE UPDATES TODAY

Company/ sector outlook

 

Parag Milk Products is engaged in the business of procurement of cow milk mainly in western and southern region, undertakes processing of milk and manufacture of various value-added products namely, Cheese, Butter, Ghee (clarified butter), Fresh cream, Milk powder, Flavoured milk, Lassi (yogurt based drink), Curd, Mithai (Indian sweets) etc., which are marketed under its registered brand name ‘Gowardhan’, ‘Go’, ‘Topp Up’, ‘Gowardhan Khushiyan Mithai’ and ‘Avvatar’.

 

Effective September 22, 2025, the Goods and Services Tax (GST) on various dairy products in India is being reduced, with some products moving from a 12 per cent or 5 per cent rate to 5 per cent, and certain products like ultra-high temperature (UHT) milk and paneer/chhena seeing their GST reduced from 5 per cent to 0 per cent.

 

Meanwhile, India’s fast moving consumer goods (FMCG) sector, one of the country’s largest and fastest-growing industries, continues to gain momentum with rural consumption emerging as a key growth driver. In the past two quarters, rural demand outpaced urban demand, fuelled by increasing affordability, rising disposable incomes and a growing preference for small, value-driven packs. 

 

For Parag Milk Foods, this momentum presents a significant opportunity. With its strong portfolio of value-added dairy products, widespread distribution and deep farmer connect; Parag is well-positioned to tap into this demand through affordable, protein-rich offerings that align with rural aspirations for better nutrition and quality. The company’s reach into tier II-III towns and rural markets reinforces its role in driving inclusive FMCG growth across Bharat, the company said in FY25 annual report.

 

A strong Balance Sheet, diversified product portfolio and a growing value-added dairy products personality have positioned Parag for sustained financial growth. The company’s margin expansion and disciplined capital allocation will help enhance long term stakeholder value, the company said.

 

Meanwhile, India’s dairy market was valued at approximately $135.3 billion in 2024 and is expected to reach around $146.8 billion in 2025. It is projected to grow substantially to an estimated $274.1 billion by 2032, with a compound annual growth rate (CAGR) of about 9.33 per cent during 2025–2032. Some sources indicate a slightly higher CAGR of up to 14 per cent over a similar forecast period. The Indian dairy sector plays a crucial role globally, as India is the world’s largest milk producer, contributing about 25 per cent of the global milk supply. 

 

India's dairy sector continues to expand robustly, backed by strong domestic production growth, increasing organization of the market and strategic importance to millions of farmers. While global tariff uncertainties and trade tensions pose some near-term risks, the sector’s fundamental strengths and government support underpin a positive long-term outlook.