Parag Milk Foods records revenues of 70 crs in fiscal year '19 from the Sonipat plant; eyes Rs 160-cr this fiscal
New Delhi, June 12 () Parag Milk Foods obtained an income of approximately 70 million rupees in the fiscal past of its manufacturing facilities in Sonipat in Haryana that the company acquired from Danone and aims to up to 160 million rupees of this financial year in better demand for its Products in the northern market.
Parag Milk, based in Mumbai, acquired the Sonepat plant in April last year and began commercial operations in August to expand its presence in north and northeast India.
The company now has three plants in Maharashtra, Andhra Pradesh and Haryana with a total processing capacity of 2.9 million liters per day.
Our Sonipat plant is doing very well. Contributed Rs 65-70 to our total turnover during the last fiscal year. We are targeting an income of Rs 130-160 crore during the current fiscal year, said Parag Milk Foods president Devendra Shah. .
Parag Milk recorded a 22.6 percent increase in consolidated revenues from operations to Rs 2,395.7 million crore during the 2018-19 fiscal period, compared to Rs 1,954.5 million crore from the previous year.
We are currently processing around 60,000 liters per day of milk at the Sonipat plant that is being obtained from Maharashtra, Haryana and Rajasthan, Shah said, adding that the company expects to reach a 100 percent capacity of more than 1 lakh per liter. day. in the next exercise.
Through this plant, he said that the company is serving the Delhi-NCR market, which is the largest milk market in the country with a value of around 11,000 crore. In addition to NCR, this plant also serves the markets of Haryana, Himachal Pradesh and Uttarakhand.
Shah said the company is making efforts to strengthen the distribution network by adding more retail contact points (modern and traditional) in the northern Indian market.
Parag Milk Foods also launched its premium fresh milk brand 'Pride of Cows' in the Delhi-NCR market, where the company transports milk from its dairy farm near Pune by air.
We have made 600-700 customers of Pride of Cows in Delhi-NCR, Shah said. Parag Milk sells ghee, dahi, paneer with the 'Gowardhan' brand, while products such as cheese, ultra high temperature processing milk (UHT), chaas, lassi, yogurt under the 'Go' brand. It also offers drinks based on dairy products and whey protein. DRR MJH