Milky Mist Reports 42% Revenue Growth to ₹1,089 Crore in Q2FY27

Value-added dairy major Milky Mist Dairy Food has reported its highest-ever quarterly financial performance for the quarter ended September 2026 (Q2FY27). The company recorded a net profit of ₹78 crore, marking a near-triple increase from ₹28 crore in the corresponding quarter of the previous fiscal year.

According to the company, the profit growth was driven by overall revenue expansion, EBITDA growth, and a deferred tax impact. The year-on-year increase in EBITDA and its margin was attributed to volume growth, operational efficiencies, and a favourable product mix.

Revenue from operations for the quarter stood at ₹1,089 crore, registering a 42 per cent growth year-on-year. For the first half of the financial year (H1FY27), revenue from operations grew by 42.5 per cent, while EBITDA increased by 62.9 per cent. Net profit for the half-year period grew almost fourfold.

K. Rathnam, Whole-time Director and CEO of Milky Mist Dairy Foods, stated that the company's diverse range of value-added products enabled strong growth metrics despite 10 to 11 per cent inflation in the prices of milk, fodder, and feed. Calibrated price increases, capacity utilisation, and operational efficiencies also supported the financial results.

Sathishkumar T, Chairman and Managing Director, noted that the upcoming festive season is expected to create favourable demand conditions across product categories, positioning the company well to sustain its growth momentum. The company has maintained its earlier guidance of 33 to 34 per cent top-line growth for the full fiscal year.

Product-wise, paneer contributed 44 per cent to the quarterly revenue, followed by cheese at 31 per cent and curd at 22 per cent. The company also strengthened its protein-focused portfolio during the quarter with the launch of Skyr and Greek yogurt, alongside high-protein lactose-free milk from existing manufacturing facilities. The protein category currently contributes between 12 to 14 per cent of the total top line by value.

Geographically, 69 per cent of Milky Mist’s revenue originates from the southern region of India, with the non-southern share expanding by 2 to 3 percentage points over recent years. Addressing milk price trends, Rathnam stated that prices are currently at a peak. He noted that while price increases are not envisaged in Tamil Nadu, slight adjustments could occur in other parts of the country depending on weather conditions and the impact of El Niño.

"Milky Mist's Q2FY27 performance highlights the resilience of a value-added product strategy in the dairy sector. Despite facing double-digit inflation in raw material costs like milk and feed, the company successfully scaled its revenue and margins through operational efficiencies, optimized capacity utilization, and a targeted focus on high-margin segments like proteins. Maintaining strong top-line guidance while expanding non-southern footprints demonstrates the scalability of robust supply chains and consumer-centric product diversification in traditional industries." — Dr. Shishir Gupta, Founder & CEO, StartupLanes