Parag Milk: Strong Q1-FY19 with a Positive Mgt Commentary & Industry Outlook. Valuation Comfort

Parag Milk - Retain Buy, Cont Strong Traction in Q2-FY19. VAP to Drive Topline & Earnings.

Indian Dairy Sector - Q3& 9M-FY18 Wrap - Top Picks - Parag & Prabhat Dairy

Independent Research Analyst

Mamta Verma

DC India Research

DC India Research LLP (DCIR) is based out of Mumbai, India.

We specialize in providing customized, independent research across listed and unlisted companies in India across equities and credit including sectoral research. Our customers include India focussed PE funds, special situation funds, domestic AMCs, Wealth Advisory& PMS firms, Rating Agencies & Investment Advisors. 

The DCIR board consists of prominent names from the industry as well as CIO’s of Hedge funds.

Equity Bottom-Up

This is a sector wrap post q4-FY18 and FY18 results of the following companies in the Indian Dairy Sector -<a href="https://www.smartkarma.com/entities/25922" target="_blank" data-smartkarma-citation="entities:25922:1">Parag Milk Foods Ltd (PARAG IN)</a>, <a href="https://www.smartkarma.com/entities/26759" target="_blank" data-smartkarma-citation="entities:26759:1">Prabhat Dairy Ltd (PRABHAT IN)</a>, <a href="https://www.smartkarma.com/entities/13825" target="_blank" data-smartkarma-citation="entities:13825:1">Heritage Foods Ltd (HTFL IN)</a>, <a href="https://www.smartkarma.com/entities/9071" target="_blank" data-smartkarma-citation="entities:9071:1">Hatsun Agro Products Ltd (HTSMF IN)</a>, <a href="https://www.smartkarma.com/entities/18416" target="_blank" data-smartkarma-citation="entities:18416:1">Kwality Ltd (KWALITY IN)</a>Note - we have forked our last published Dairy sector wrap post 9M-FY18 results. Indian Dairy Sector – Peer Comps for FY18 Results<ol><li>
Summary 
</li></ol><ul><li>Topline</li></ul><table class="table table-striped"><tbody>
<tr>
<td>Topline</td>
<td>FY17 YoY</td>
<td>FY18 YoY</td>
<td>Q4FY18 - YoY</td>
<td>FY18 Topline (Rs. Mn.)</td>
</tr>
<tr>
<td>- Hatsun Agro</td>
<td>22.0%</td>
<td>2.4%</td>
</tr>
</tbody></table>…

This is a sector wrap post q4-FY18 and FY18 results of the following companies in the Indian Dairy Sector -Parag Milk Foods Ltd (PARAG IN), Prabhat Dairy Ltd (PRABHAT IN), Heritage Foods Ltd (HTFL IN), Hatsun Agro Products Ltd (HTSMF IN), Kwality Ltd (KWALITY IN)Note - we have forked our last published Dairy sector wrap post 9M-FY18 results. Indian Dairy Sector – Peer Comps for FY18 Results
Summary 
Topline

Topline
FY17 YoY
FY18 YoY
Q4FY18 - YoY
FY18 Topline (Rs. Mn.)


- Hatsun Agro
22.0%
2.4%

…

Indian Dairy Sector - Peer Comps -FY18 Review & Outlook