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Milkfood (BSE 507621)₹82.39−1.51%Dairy Products
In the Mar 2026 quarter (standalone), Milkfood reported sales of ₹179 Cr, up 13.2% from Mar 2025, and net profit of ₹51.02 Cr, up 2,438.3% year on year. For the year to Mar 2026, sales were ₹412 Cr and net profit ₹44.01 Cr.
Company filings, standalone accounts; latest reported quarter Mar 2026
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 93.92 | 106 | 115 | 122 | 95.91 | 79.94 | 113 | 158 | 73.94 | 73.89 | 85.84 | 179 |
| Expenses | 95.25 | 100 | 108 | 114 | 90.19 | 74.17 | 110 | 150 | 75.12 | 76.15 | 80.16 | 176 |
| Operating Profit | 0.00 | 5.98 | 6.98 | 7.98 | 5.98 | 5.99 | 2.99 | 7.98 | −0.99 | −1.99 | 5.98 | 2.99 |
| OPM % | −0.4% | 6.0% | 6.0% | 6.0% | 6.0% | 7.0% | 3.0% | 5.0% | −1.4% | −3.1% | 7.0% | 1.9% |
| Other Income | 3.99 | 2.99 | 0.00 | 2.99 | 0.00 | 0.00 | 0.99 | 0.99 | 5.99 | 0.00 | 0.00 | 65.84 |
| Interest | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 0.99 | 2.99 | 2.99 | 2.99 | 3.99 | 2.99 |
| Depreciation | 2.01 | 2.01 | 2.01 | 2.01 | 2.01 | 2.01 | 2.01 | 2.01 | 2.01 | 2.01 | 2.01 | 1.01 |
| Profit before tax | −1.99 | 2.99 | 1.99 | 5.99 | 0.99 | 0.99 | 1.99 | 3.99 | −0.99 | −7.99 | 0.99 | 64.90 |
| Tax % | −24.0% | −4.0% | 28.0% | 32.0% | 42.0% | 22.0% | 64.0% | 34.0% | 0.0% | 0.0% | −32.0% | 20.0% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Profit | −1.01 | 3.01 | 0.99 | 4.01 | 0.99 | 1.01 | 1.01 | 2.01 | −0.99 | −8.01 | 1.01 | 51.02 |
| EPS (Rs) | −0.69 | 1.75 | 0.56 | 1.87 | 0.23 | 0.36 | 0.25 | 0.98 | −0.27 | −3.21 | 0.57 | 21.04 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 372 | 389 | 490 | 530 | 550 | 368 | 315 | 466 | 436 | 448 | 412 | 412 |
| Expenses | 353 | 369 | 466 | 504 | 528 | 349 | 303 | 445 | 418 | 425 | 408 | 408 |
| Operating Profit | 20.92 | 20.93 | 25.94 | 27.90 | 24.93 | 19.95 | 12.95 | 23.91 | 19.94 | 23.94 | 5.98 | 5.99 |
| OPM % | 6.0% | 5.0% | 5.0% | 5.0% | 4.5% | 5.0% | 4.1% | 5.0% | 4.5% | 5.0% | 1.5% | 1.5% |
| Other Income | 1.99 | −3.99 | 0.00 | 0.00 | 0.99 | 0.00 | 2.99 | 3.99 | 8.97 | 1.99 | 71.83 | 71.83 |
| Interest | 12.95 | 11.95 | 9.96 | 7.98 | 7.98 | 7.98 | 6.97 | 9.97 | 13.96 | 10.97 | 13.96 | 12.96 |
| Depreciation | 9.03 | 5.01 | 6.02 | 7.02 | 8.03 | 9.03 | 7.02 | 6.02 | 7.03 | 7.02 | 7.03 | 7.04 |
| Profit before tax | 1.99 | 0.00 | 9.99 | 12.99 | 8.99 | 2.99 | 1.99 | 10.98 | 8.99 | 7.99 | 56.91 | 56.91 |
| Tax % | 39.0% | 1,150.0% | 16.0% | 23.0% | 4.0% | 25.0% | −51.0% | 15.0% | 19.0% | 40.0% | 22.0% | — |
| Exceptional items | 0.00 | −3.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.01 | 0.00 | 0.00 | 0.00 |
| Net Profit | 0.99 | −0.99 | 8.01 | 9.99 | 8.01 | 2.01 | 3.01 | 10.01 | 7.01 | 5.01 | 44.01 | 43.03 |
| EPS (Rs) | 0.46 | −0.50 | 4.15 | 5.21 | 4.27 | 1.23 | 1.77 | 4.96 | 3.45 | 1.84 | 18.12 | 18.13 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 13.0% | 18.0% | 67.0% | 0.0% | — |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4.98 | 4.98 | 4.99 | 4.98 | 4.98 | 4.98 | 4.98 | 4.98 | 4.99 | 4.98 | 11.97 | 11.96 |
| Reserves | 29.94 | 30.94 | 84.78 | 92.80 | 103 | 112 | 114 | 118 | 128 | 170 | 164 | 212 |
| Borrowings | 83.02 | 94.01 | 85.05 | 71.03 | 59.01 | 76.08 | 72.99 | 73.07 | 122 | 116 | 118 | 110 |
| Other Liabilities | 113 | 74.01 | 93.25 | 90.14 | 115 | 108 | 118 | 109 | 73.95 | 80.33 | 81.39 | 61.20 |
| Total Liabilities | 231 | 204 | 268 | 259 | 283 | 300 | 309 | 304 | 329 | 371 | 375 | 396 |
| Fixed Assets | 101 | 107 | 165 | 163 | 166 | 183 | 184 | 184 | 190 | 222 | 226 | 174 |
| CWIP | 0.99 | 1.99 | 1.99 | 0.99 | 1.99 | 1.99 | 1.99 | 4.99 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 128 | 94.89 | 101 | 93.86 | 115 | 116 | 124 | 115 | 139 | 149 | 149 | 222 |
| Inventories | 88.93 | 64.90 | 74.94 | 74.89 | 67.93 | 58.90 | 32.95 | 19.97 | 63.86 | 31.95 | 33.97 | 45.92 |
| Trade receivables | 14.99 | 17.01 | 15.99 | 5.01 | 21.99 | 33.01 | 52.99 | 58.02 | 32.01 | 77.02 | 82.03 | 55.01 |
| Cash & equivalents | 1.99 | 1.99 | 0.99 | 0.99 | 4.99 | 2.99 | 0.99 | 0.99 | 0.00 | 1.99 | 1.99 | 0.99 |
| Total Assets | 231 | 204 | 268 | 259 | 283 | 300 | 309 | 304 | 329 | 371 | 375 | 396 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 5.98 | 39.88 | 26.90 | 26.89 | 33.87 | 19.94 | 12.95 | 13.95 | −29.90 | 19.93 | 18.94 | −105 |
| Cash from investing activity | −6.02 | −16.06 | −9.04 | −5.02 | −10.03 | −22.07 | −8.03 | −5.02 | −7.03 | 1.01 | −4.02 | 127 |
| Cash from financing activity | 0.99 | −24.99 | −19.01 | −23.02 | −20.01 | 0.00 | −7.01 | −8.01 | 36.01 | −21.01 | −14.99 | −21.02 |
| Net cash flow | 0.99 | 0.00 | −1.01 | 0.00 | 3.99 | −1.99 | −1.99 | 0.00 | −0.99 | 0.00 | 0.00 | 0.00 |
| Capex | 7.03 | 16.04 | 9.03 | 5.02 | 10.03 | 22.08 | 8.03 | 6.02 | 8.03 | 3.01 | 4.01 | 4.01 |
| Free cash flow | −0.99 | 23.98 | 17.99 | 22.97 | 23.99 | −1.99 | 5.99 | 8.01 | −36.99 | 20.98 | 14.99 | 20.98 |
| CFO / OP % | 36.1% | 190.0% | 126.0% | 110.0% | 129.1% | 92.1% | 71.1% | 118.0% | −113.9% | 102.0% | 98.1% | −1,453.9% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 15 | 17 | 15 | 4 | 15 | 22 | 53 | 66 | 25 | 64 | 67 | 49 |
| Inventory days | 103 | 75 | 83 | 64 | 55 | 45 | 39 | 28 | 62 | 33 | 33 | 46 |
| Days payable | 46 | 24 | 28 | 29 | 37 | 25 | 34 | 23 | 39 | 54 | 52 | 33 |
| Cash conversion cycle | 72 | 68 | 70 | 39 | 34 | 42 | 58 | 71 | 48 | 43 | 47 | 63 |
| Working capital days | 4 | −8 | 0 | −7 | 1 | 0 | 19 | 29 | 22 | 19 | 15 | 72 |
| ROCE % | 10.0% | 11.0% | 11.0% | 12.0% | 13.0% | 9.0% | 6.0% | 5.0% | 9.0% | 7.0% | 6.0% | 22.9% |
For the Mar 2026 quarter, Milkfood reported sales of ₹179 Cr, up 13.2% year on year and net profit of ₹51.02 Cr, up 2,438.3% year on year. The operating margin was 1.9%.
Milkfood's sales for the year to Mar 2026 were ₹412 Cr; over the last twelve months they were ₹412 Cr.
Net profit for the year to Mar 2026 was ₹44.01 Cr, and ₹43.03 Cr over the last twelve months. Earnings per share over the same trailing period were ₹18.13.
Milkfood reported borrowings of ₹110 Cr at Mar 2026, against cash and equivalents of ₹0.99 Cr.
Cash from operations was −₹105 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹20.98 Cr.