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Parag Milk Foods gains on eying Rs 160 crore revenue from Sonipat plant in FY20

Parag Milk Foods is currently trading at Rs. 244.65, up by 1.15 points or 0.47% from its previous closing of Rs. 243.50 on the BSE.

The scrip opened at Rs. 243.50 and has touched a high and low of Rs. 245.50 and Rs. 240.00 respectively. So far 118425 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 364.90 on 14-Jun-2018 and a 52 week low of Rs. 197.00 on 18-Feb-2019.

Last one week high and low of the scrip stood at Rs. 245.50 and Rs. 239.60 respectively. The current market cap of the company is Rs. 2049.03 crore.

The promoters holding in the company stood at 45.96%, while Institutions and Non-Institutions held 26.83% and 27.20% respectively.

Parag Milk Foods is targeting up to Rs 160 crore this financial year (FY20) from its manufacturing facility at Sonipat in Haryana that the company acquired from Danone, on better demand for its products in the northern market. The company has earned a revenue of about Rs 70 crore in the FY19 from its Sonipat manufacturing facility in Haryana.

The company has acquired Sonepat plant in April last year and started commercial operations in August to expand its footprint in the north and northeast India.

Parag Milk Foods, established in 1992, is the largest private dairy FMCG company with a pan India presence.

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