Milky Mist Dairy Q2 Profit Jumps 174% to Rs 77.94 Crore

Revenue at Rs 1,089.40 crore vs Rs 769.47 crore; EBITDA at Rs 165.21 crore vs Rs 107.35 crore.

Reader Takeaway: Strong demand for value-added dairy and improved margins drive growth, despite persistent agricultural sector inflation.

What just happened

Milky Mist Dairy Food Ltd posted robust consolidated financial results for the quarter ended September 30, 2026. The company saw a 41.58% year-on-year increase in revenue, climbing to Rs 1,089.40 crore. Net profit surged by 174.5% to Rs 77.94 crore compared to Rs 28.39 crore in the same quarter last year.

Why this matters

The company’s EBITDA margin expanded to 15.17%, reflecting improved operational efficiency and a favorable product mix. Management attributes this performance to steady volume growth in its protein-focused product lines, such as Skyr and Greek Yogurt, alongside successful price calibration strategies despite inflationary headwinds.

IPO Proceeds Utilization

As of September 2026, the company has utilized Rs 946.08 crore of its net IPO proceeds. A significant portion, Rs 485.13 crore, was directed toward debt repayment, while Rs 31.40 crore was deployed as capital expenditure for the Perundurai manufacturing plant, signaling a focus on balance sheet deleveraging and capacity expansion.

Risks to watch

Management highlighted ongoing challenges from agricultural sector inflation, potential impacts from climatic factors like El Nino, and broader geopolitical uncertainties that could influence input costs.

What to track next

Investors should monitor the company's progress on scaling its high-protein portfolio and the efficiency of its distribution network expansion, as it looks to sustain margins in a volatile macroeconomic environment.