Parag Milk Foods shares surge 8% on foray into snacking category

Shares of Parag Milk Foods Ltd climbed 8 per cent in Thursday's trade after the company said it is expanding its nutrition portfolio into the fast-growing snacking category with the launch of Avvatar Popped Chips. It marked the next phase of the company’s journey from dairy to nutrition and now into new-age food categories.

In a filing to BSE, Parag Milk said the launch strengthens Parag’s ambition to make protein more accessible across formats, occasions and consumer needs. The stock rose 8.46 per cent to hit a high of Rs 274.90 on BSE, trimming its year-to-date fall to 10.87 per cent.

"The launch builds on Avvatar’s growing portfolio of protein powders, ready-to-drink beverages and bars, with snacking emerging as the latest avenue to expand protein consumption. Together, these formats enable Avvatar to address a wider range of nutrition needs and consumption occasions, making protein a more relevant part of everyday food choices," it aid.

Available in Magic Masala and Pudina, Avvatar Popped Chips are non-fried and offer 10 grams of protein per 30 grams pack, priced at Rs 60, with no added sugar, no palm oil and no preservatives.

The products, Parag Milk said are available on Avvatar website, Quick Commerce, Vending Machines and General Trade and Modern Trade.

"The new offering brings Avvatar’s protein proposition into a familiar snacking format, extending the brand beyond traditional active nutrition," ir said.

Executive Director Akshali Shah said the launch marks an important step in Parag Milk Foods’ evolution from a dairy-led company to a broader nutrition-led food business.

"We see a significant opportunity to take our expertise in dairy and protein and build it into categories that are increasingly relevant to the way consumers eat today. With Avvatar, we are extending protein beyond traditional nutrition formats and into everyday consumption occasions, including snacking," Shah said.

The ambition, Shah explained, is to build a holistic protein ecosystem that brings together nutrition, convenience and accessibility across formats and lifestyles. Entering snacking is therefore not simply an extension of our portfolio; it is a strategic step towards creating a larger, more contemporary food and nutrition business with protein at its core."