Author name: Parvati Rai

Parvati Rai is the Vice President of the Research team at Equentis. She has over 15 years of equity-research and strategy-consulting experience. A specialist in deep-dive valuations, financial modelling, and forecasting, she has built research desks from the ground up, by steering buy-side, sell-side, and independent coverage across sectors. When she isn’t fine-tuning models, Parvati unwinds on nature treks and mentors aspiring analysts.

Parag Milk Foods Storytelling 01 1
Saga

From 20,000 Litres to ₹3,500 Crore: The Parag Milk Foods Growth Story

India’s dairy sector is crowded with legacy cooperatives, regional players, and multinational brands. Yet, few companies have built a journey as remarkable as Parag Milk Foods. What began in 1992 as a small dairy operation with a processing capacity of just 20,000 litres per day has evolved into one of India’s leading private dairy FMCG companies, managing a portfolio of powerful brands such as Gowardhan, Go Cheese, Pride of Cows, and Avvatar.