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Parag Milk says revenue from Pride of Cows brand to reach Rs 400 crore a year by FY28

The company plans to expand its Bhagyalakshmi Dairy Farm, which supplies milk exclusively under 'Pride of Cows' brand, to over 15,000 cows by 2026 and is, therefore, expanding the portfolio under this brand to create a market for increased milk being produced.

June 29, 2021 / 08:34 PM IST
Representative Image

Representative Image

Parag Milk Foods, dairy FMCG company with brands like Gowardhan, on Tuesday said its premium milk brand 'Pride of Cows' is expected to reach Rs 400 crore annual revenue by 2027-28, following growing popularity for cows milk and value-added products including the newly launched fat-free milk.

"At present, Pride of Cow's revenue share is 2.5 per cent, which is around Rs 60 crore. Besides cow milk, we have value-added products like ghee and dahi under our 'Pride of Cows' brand and now, we have launched the fat-free milk variant for the health conscious. "With the steady growth in popularity of the brand, we expect it to touch Rs 400 crore revenue by 2027-28," Parag Milk Foods Chairman Devendra Shah told PTI.

Parag Milk Food Consolidated March 2021 Net Sales at Rs 434.35 crore, down 18.85% Y-o-Y

The company plans to expand its Bhagyalakshmi Dairy Farm, which supplies milk exclusively under 'Pride of Cows' brand, to over 15,000 cows by 2026 and is, therefore, expanding the portfolio under this brand to create a market for increased milk being produced. Fat-free milk will be available in Mumbai, Pune and Surat for Rs 120 per litre; while in Delhi, at Rs 140 per litre, it said.

Pride of Cows dairy products are currently available in Mumbai, Delhi-NCR, Pune and Surat. The fat-free milk will also be available on the company's existing subscription-based model.

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Spread across 35 acres near Pune in Maharashtra, the Bhagyalakshmi Farm currently houses over 3,500 Holstein and Freisian cows. Shah said the company has a capital expenditure (capex) of Rs 75-80 crore for the expansion of the Bhagyalakshmi Dairy Farm in a nearby location which is spread across 450 acres.

"Parag Milk Foods has been a leader in the premium milk segment for a decade now. With the launch of fat-free milk, we are expanding our portfolio under the Pride of Cows brand which is targeted towards a niche audience. "To cater to the growing consumer demand for safe, nutritious, natural and premium dairy products, we will increase our milk production capacity to two lakh litres by 2026," Shah added.



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PTI
first published: Jun 29, 2021 08:34 pm
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