On 6 Nov 2026, Milkfood was priced at ₹98.14, or 4.6× trailing earnings, against an industry P/E of 19.5×. It earns ROCE of 26% and ROE of 27%, and sales fell 4.6% a year over 3 years while net profit grew 66%, though net profit is above operating profit, which points to a one-off gain. Debt is 0.44× equity. It is a small-cap company with a market cap of ₹273 Cr, ranked 58th of 127 Packaged Foods companies by market cap; the shares rose 26% over the past year.
- ₹95.50
- ₹99.00
- ₹95.50
- ₹97.17
- 15.7K
Health check
- ReturnsAhead
+26.5% over a year, better than 6 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthSteady
Sales −4.6%, profit +65.6% a year over 3 years.
- ProfitabilityStrong
ROCE 25.6% vs peer median 15.3%.
- Balance sheetStretched
Debt 0.44× equity, interest covered 0.5×.
- Red flags2 to check
Net profit is above operating profit, so a one-off gain is likely flattering earnings.
Small cap
Defensive
Key metrics
- Market cap
- ₹273 Cr
- Small cap
- P/E
- 4.6
- Industry 19.5
- Price to book
- 1.09
- Peers 8.88
- Dividend yield
- 0.00%
- ROE
- 27.3%
- Peers 14.8%
- ROCE
- 25.6%
- Peers 15.3%
- Debt to equity
- 0.44
- Debt ₹101 Cr
- EPS (TTM)
- ₹21.24
- Face value ₹5
- OPM (TTM)
- 4.4%
- Net margin 12.1%
- Sales growth
- +36.6%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.61
- EV/EBITDA 33.7
Strengths and risks
Strengths
- Return on equity of 27.3%.
- Return on capital employed of 25.6%.
- Quarterly sales up 36.6% on a year ago.
Risks to check
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- Interest coverage of only 0.5×.
About Milkfood
Milkfood Limited manufactures and sells dairy products in India. The company offers pure ghee, skimmed and whole milk powder, and dairy whitener products. It also provides casein and demineralized whey powder used in the production of chocolates, ice cream, coffee whiteners, health supplements, infant food, nutritional beverages, and cheese, as well as for knitting needles, cosmetics, pharmaceuticals, and automobile paint applications. Milkfood Limited…
- Headquarters
- New Delhi
- Employees
- 113
- Sector
- Consumer Defensive
- ISIN
- INE588G01021
- Website
- milkfoodltd.com
Price range
- Avg volume (3M)
- 7.8K
- 1-year return
- plus 26.5%
- From 52-week high
- minus 1.4%
Peers · Packaged Foods
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NESTLEINDNestle India | 1,282.10 | plus 1.89% | 2,47,229 | 60.6 | 42.76 | – | 79.9% | 21.0% | – | – | 0.94% | minus 0.5% |
| BRITANNIABritannia Industries | 4,785.00 | minus 3.92% | 1,15,255 | 43.2 | 27.13 | 61.2% | 66.7% | 18.4% | 5.7% | 3.0% | 1.89% | minus 15.5% |
| TATACONSUMTata Consumer Products | 1,086.30 | plus 0.80% | 1,07,511 | 63.3 | 4.86 | 8.3% | 7.6% | 14.0% | 13.9% | 8.6% | 0.92% | minus 8.6% |
| PATANJALIPatanjali Foods | 411.50 | plus 0.19% | 44,776 | 22.7 | 3.42 | 11.2% | 14.8% | 4.2% | 8.7% | 27.0% | 0.98% | minus 28.6% |
| HATSUNHatsun Agro Product | 1,068.10 | plus 0.33% | 23,792 | 66.0 | 12.07 | 20.2% | 19.0% | 10.7% | 11.2% | 29.0% | 1.87% | plus 2.4% |
| MILKYMISTMilky Mist Dairy Food | 297.20 | plus 0.93% | 22,880 | 91.2 | 8.88 | – | 9.7% | 10.1% | – | – | 0.00% | plus 63.7% |
| AWLAWL Agri Business | 167.00 | minus 0.48% | 21,573 | 18.7 | 1.98 | 15.3% | 11.1% | 2.9% | 8.7% | 21.4% | 0.60% | minus 39.5% |
| MLKFOODMilkfood | 98.14 | plus 1.00% | 273 | 4.6 | 1.09 | – | 27.3% | 4.4% | – | – | 0.00% | plus 26.5% |
| Median of 7 peers | – | 0.33% | 44,776 | 60.6 | 8.88 | 15.3% | 14.8% | 10.7% | 8.7% | 21.4% | 0.94% | −8.6% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 74.1 | 86.3 | 179 | 81.2 | 101 | |
| 76.4 | 79.9 | 176 | 77.8 | 94.8 | |
| −2.3 | 6.4 | 3.3 | 3.5 | 6.4 | |
| −3.1% | 7.5% | 1.8% | 4.3% | 6.3% | |
| 0.1 | 0 | 66 | 0.9 | 0 | |
| 3.5 | 3.7 | 3.4 | 2.3 | 2.7 | |
| 2.1 | 1.7 | 1.4 | 1.6 | 1.6 | |
| – | – | – | −0.2 | −0.2 | |
| −7.9 | 1.1 | 64.6 | 0.3 | 2 | |
| – | −32.7% | 20.4% | 24.1% | 32.3% | |
| −7.9 | 1.4 | 51.4 | 0.2 | 1.3 | |
| -3.22 | 0.55 | 20.09 | 0.09 | 0.52 |
Profit & loss
- Sales CAGR 3Y
- −4.6%
- Profit CAGR 3Y
- +65.6%
- EPS CAGR 3Y
- +53.8%
- ROE
- 27.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 445 | 437 | 428 | 387 | |
| – | minus 1.8% | minus 2.1% | minus 9.6% | |
| 421 | 417 | 404 | 380 | |
| 23.9 | 19.8 | 23.6 | 6.4 | |
| 5.4% | 4.5% | 5.5% | 1.6% | |
| 2.5 | 8.6 | 3.4 | 70.1 | |
| 8.8 | 12.8 | 12.3 | 13.2 | |
| 6.4 | 6.7 | 7.1 | 7.2 | |
| 0.4 | – | – | 1.1 | |
| 11.5 | 8.8 | 7.6 | 57.1 | |
| 15.1% | 19.3% | 40.4% | 22.4% | |
| 9.8 | 7.1 | 4.5 | 44.3 | |
| – | minus 27.0% | minus 36.5% | +879.9% | |
| 4.75 | 3.57 | 1.86 | 17.30 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 4.9 | 5.1 | 12.2 | 12.2 | |
| 128 | 170 | 164 | 212 | |
| 122 | 116 | 118 | 110 | |
| 74.1 | 80.4 | 80.8 | 61.4 | |
| 329 | 371 | 375 | 396 | |
| 188 | 186 | 188 | 136 | |
| 0.2 | 0.3 | 0.2 | 0 | |
| 0 | 0 | 0 | 0.1 | |
| 0.6 | 0.2 | 5.2 | 0.2 | |
| 140 | 185 | 182 | 259 | |
| 329 | 371 | 375 | 396 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −30 | 20.3 | 19.2 | −105 | |
| −7.1 | 0.7 | −4 | 126 | |
| 35.9 | −21 | −15.2 | −20.9 | |
| −1.3 | 0.1 | 0.1 | −0.1 | |
| −8 | −3.3 | −4.2 | −4.3 | |
| −38 | 17.1 | 15 | −109 | |
| −1.2 | −1.3 | −1.5 | – |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company.
Major shareholders
Filings & events
News
No recent news coverage found.