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Parag Milk Food Ltd. introduces a new product to its premium category by launching Pride of Cows Curd

Posted On: 2020-08-13 23:53:18

Parag Milk Foods Ltd, a leading dairy FMCG Company with reputed brands such as 'Gowardhan', 'Go', 'Pride of Cows' (POC), 'Avvatar' today launched Pride of Cows Curd, Full of Love. Pride of Cows Curd is made from pure Pride of Cows milk which is unmatched in its quality and freshness, and is derived from the Company's own farm. The curd will be delivered to the consumer's doorstep through a completely contact-free process that involves a full automated milking and production system and a cold chain network that maintains a constant temperature throughout in order to retain the curd's flavor and aroma.

Pride of Cows Curd has a thick and creamy texture, and is high in nutrients such as protein and calcium. Given that it is made from POC milk, a first-of-its kind superior, farm-to-home milk, it caters to consumers who believe in consuming healthy and nutritious products that are natural and pure.

Commenting on the launch, Mr. Devendra Shah, Chairman, Parag Milk Foods Ltd said, "The industry has witnessed a massive revamp in the food category. Given the current pandemic situation, consumers have become increasingly conscious about the food they consume and prefer food products that are derived from a known source. They are selecting brands that can deliver safety & purity coupled with health benefits and qualities that boost immunity. The launch of Pride of Cows Curd is in line with our commitment of meeting evolving consumer needs and providing health and nutrition to consumers across the country."

The curd market has witnessed a significant growth in the recent past on account of a burgeoning number of health conscious consumers in India. With the health benefits associated with curd, such as its high-protein content and gut-friendly nature with all the goodness of milk, the curd market is bound to grow rapidly in the coming years.

Ms. Akshali Shah, Sr. Vice President- Strategy, Sales & Marketing, Parag Milk Foods Ltd. Asserted, "We are the pioneers in the 'Farm-to- Home' milk concept which started with the introduction of POC millk through a process that has absolutely zero human intervention. The subscription based model for the POC brand has been extremely successful in building a loyal consumer base of more than 35,000 households across the markets of Mumbai, Pune, Delhi and Surat.

We have been in the premium Farm-to-Home milk segment for 9 years and taking this legacy forward, with the launch of POC Curd, a curd so perfect that consumers can vouch for its taste, creaminess, quality, aroma and flavor. We believe that Pride of Cows curd will cater to a growing target group of health-conscious consumers who seek fresh farm milk products on their table. To increase consumer awareness, we will be launching a full-fledged digital marketing campaign."

According to the IMARC report, growing urbanization has led to an increase in demand for packaged curd. In 2017, the total curd market in India was estimated to be INR 664 Billion (US$ 9.2 Billion) having grown at a CAGR of 13.4% during the 2010-2017 period. Going forward, the Indian curd market is projected to grow at a CAGR of 15.4% during the 2018 - 2023 period to reach INR 1,573 Billion (US$ 22 Billion) by 2023. The unorganized and organized curd market are expected to reach a value of INR 1,427 Billion (US$ 19.8 Billion) and INR 146 Billion (US$ 2.0 Billion) respectively.

'Pride of Cows Curd - Full of Love' will be available in Mumbai, Pune and Surat and will be priced at Rs. 80/- for 320 gms. The product would initially be available to Pride of Cows customers under the subscription based model followed by placement in select outlets.

Shares of Parag Milk Foods Ltd was last trading in BSE at Rs.104.3 as compared to the previous close of Rs. 101.95. The total number of shares traded during the day was 205209 in over 3035 trades.

The stock hit an intraday high of Rs. 104.9 and intraday low of 100.4. The net turnover during the day was Rs. 21160378.

Source: Equity Bulls

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