Milky Mist Q2 results: Revenue grows 42% to ₹1,089 crore, net profit nearly

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Strong demand for value-added dairy products, operational efficiencies and a favourable product mix supported the company’s quarterly and half-year performance.

By BL Chennai Bureau

Updated - October 29, 2026 at 09:54 PM.

FILE PHOTO: Sathishkumar T (left) , CMD, Milky Mist Dairy Food Ltd and K. Rathnam, Whole-time Director and CEO, at a press conference in connection with the company's IPO, in Chennai on August 12, 2026. | Photo Credit: BIJOY GHOSH

Value-added dairy major Milky Mist Dairy Food recorded its highest-ever quarterly revenue for the quarter ended September 2026 (Q2FY27), with net profit nearly tripling. Revenue from operations, gross profit, and EBITDA all surged to new quarterly highs.

Net profit for Q2FY27 came in at ₹78 crore, up from ₹28 crore in the same quarter last year. Profit growth was mainly driven by revenue growth, EBITDA expansion, and a deferred tax impact. The company said the year-on-year increase in EBITDA and EBITDA margin was driven by volume growth, operational efficiencies, and product mix.

Revenue for the quarter was ₹1,089 crore, a 42 per cent growth YoY. In H1FY27, revenue from operations grew 42.5 per cent YoY, and EBITDA grew 62.9 per cent. Net profit grew almost fourfold in the half-year.

Value-added products drive growth

K Rathnam, Whole-time Director and CEO, Milky Mist Dairy Foods, told media persons that their wide range of value-added products has helped them achieve standout growth metrics despite 10-11 per cent inflation in the prices of milk, fodder, and feed. Calibrated price increases, capacity utilisation, and operational efficiencies also helped, he adds.

Sathishkumar T, Chairman and Managing Director, said the upcoming festive season is expected to create favourable demand conditions across categories, and the company is well positioned to build on the momentum.

Company sticks to full-year growth guidance

The company had earlier guided for 33-34% top-line growth for the full fiscal year, and Rathnam said it will stick to the guidance and ensure the growth momentum continues.

Paneer, cheese and curd lead revenue contribution

Paneer (44%), Cheese (31%) and Curd (22%) contributed the most to Milky Mist revenue in the quarter. “During the quarter, we strengthened our protein-focused portfolio with the launch of Skyr and Greek yogurt in various product categories, recently we also launched high-protein lactose-free milk from the existing manufacturing facilities,” Rathnam said. The protein category alone contributes about 12 to 14 per cent of the top line by value.

69 per cent of Milky Mist’s revenue comes from the South, and the rest comes from non-South, with the non-South share growing by 2-3 percentage points in recent years.

Milk prices at peak amid El Niño concerns

On the trajectory of milk prices and the El Niño impact, Rathnam said prices are currently at a peak, and while he does not envisage a price increase in Tamil Nadu, prices could rise slightly in other parts of the country, depending on how weather conditions pan out.

Published on October 29, 2026

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