Milky Mist shares surge 10% after Q1 results; brokerage sees more upside potential
Milky Mist reported Q1FY27 revenue of Rs 973.4 crore, up 43.6 per cent YoY, led by strong growth in paneer, cheese and curd.
- Sep 2, 2026,
- Updated Sep 2, 2026 5:31 PM IST
Milky Mist Dairy Food Ltd reported a strong Q1FY27 performance, with revenue rising 43.6 per cent year-on-year and EBITDA surging 77 per cent. Following the results, DAM Capital maintained its 'Buy' rating and raised its 12-month target price to Rs 285.
The stock opened at Rs 234 against the previous close of Rs 232.03 on the BSE and hit a high of Rs 255.23. It eventually closed at Rs 252.04, up 8.62 per cent.
Milky Mist reported Q1FY27 revenue of Rs 973.4 crore, up 43.6 per cent YoY, led by strong growth in paneer, cheese and curd. Paneer revenue grew 34 per cent, cheese 38 per cent and curd 27 per cent. Yogurt was the standout category, with revenue rising 153 per cent, while ice cream grew 60 per cent.
EBITDA rose 77 per cent YoY to Rs 143.8 crore, while EBITDA margin expanded to 14.8 per cent from 12 per cent. Gross margin also expanded 275 basis points to 34.2 per cent, helped by a richer product mix and pricing. Profit after tax came in at Rs 64.7 crore, compared with Rs 6.5 crore in Q1FY26, as finance costs declined 29 per cent to Rs 24 crore.
DAM Capital said the company delivered a strong start to FY27 and expects the growth momentum to sustain. The brokerage expects revenue to grow at 26.5 per cent compounded annually from FY26 to FY29E, while margins are expected to improve by 226 basis points over the same period.
The brokerage raised its revenue estimates for FY27E, FY28E and FY29E by 1.5 per cent, 3.4 per cent and 8.7 per cent, respectively. Its EBITDA estimates were raised by 8.9 per cent, 11.3 per cent and 16.3 per cent for the same years.
DAM Capital now values Milky Mist at 40 times FY29E EPS and has set a target price of Rs 285, implying 22.7 per cent upside from the report's CMP of Rs 232. Against Wednesday's closing price of Rs 252.04, the target implies around 13 per cent potential upside.
Milky Mist Dairy Food Ltd reported a strong Q1FY27 performance, with revenue rising 43.6 per cent year-on-year and EBITDA surging 77 per cent. Following the results, DAM Capital maintained its 'Buy' rating and raised its 12-month target price to Rs 285.
The stock opened at Rs 234 against the previous close of Rs 232.03 on the BSE and hit a high of Rs 255.23. It eventually closed at Rs 252.04, up 8.62 per cent.
Milky Mist reported Q1FY27 revenue of Rs 973.4 crore, up 43.6 per cent YoY, led by strong growth in paneer, cheese and curd. Paneer revenue grew 34 per cent, cheese 38 per cent and curd 27 per cent. Yogurt was the standout category, with revenue rising 153 per cent, while ice cream grew 60 per cent.
EBITDA rose 77 per cent YoY to Rs 143.8 crore, while EBITDA margin expanded to 14.8 per cent from 12 per cent. Gross margin also expanded 275 basis points to 34.2 per cent, helped by a richer product mix and pricing. Profit after tax came in at Rs 64.7 crore, compared with Rs 6.5 crore in Q1FY26, as finance costs declined 29 per cent to Rs 24 crore.
DAM Capital said the company delivered a strong start to FY27 and expects the growth momentum to sustain. The brokerage expects revenue to grow at 26.5 per cent compounded annually from FY26 to FY29E, while margins are expected to improve by 226 basis points over the same period.
The brokerage raised its revenue estimates for FY27E, FY28E and FY29E by 1.5 per cent, 3.4 per cent and 8.7 per cent, respectively. Its EBITDA estimates were raised by 8.9 per cent, 11.3 per cent and 16.3 per cent for the same years.
DAM Capital now values Milky Mist at 40 times FY29E EPS and has set a target price of Rs 285, implying 22.7 per cent upside from the report's CMP of Rs 232. Against Wednesday's closing price of Rs 252.04, the target implies around 13 per cent potential upside.