Parag Milk Foods Ltd., one of India's leading dairy FMCG company, today announced the expansion of its premium milk brand 'Pride of Cows' in the National Capital. With the aim to provide a farm fresh experience to consumers in Delhi, the company will airlift the milk from India's largest dairy farm, located in Manchar, near Pune. This expansion is a strategic move towards strengthening Parag Milk Food's offerings in the Northern region.
The love and trust from the consumers of Pride of Cows in the western region motivated the company to introduce this service in South Delhi and Gurgaon initially, with the aim to expand it in the entire NCR region soon. Pride of Cows is a first-of-its-kind, superior, Farm-to-Home milk catered to the consumers who believe in leading a healthy lifestyle and consuming natural and unadulterated products. Redefining the meaning of purity and high quality, the milk will come from a state-of-art dairy farm called Bhagyalaxmi Dairy, which consists of ~3,000 Holstein Freisan cows and is equipped with the finest International technology for feeding, milking and processing of fresh milk.
Commenting on the occasion, Mr. Devendra Shah, Chairman, Parag Milk Foods said, "The Company's revenues from Pride of Cows has grown at a CAGR of 28 % over FY13-18 and we aim to double the Pride of Cowsrevenue in the next two years. Delhi NCR is the largest milk market of the country valued at around Rs. 11,000 crores and with Pride of Cows we are going one-step further to strengthen our presence in cow's milk in the region. Currently, we are catering to ~25,000 households in Mumbai, Pune and Surat. With the aim to reach out to more households across the country, we plan to increase the production at our farm. North India is one of the key markets for us and we have plans to increase the goodness of cow's milk in the region through our strong product portfolio in the near future".
Elaborating on the launch, Akshali Shah, Sr. VP- Strategy, Sales and Marketing, Parag Milk Foodssaid, "With the new wave of having a healthier lifestyle, niche consumers with their evolved tastes prefer premium products to complement their lifestyle. As the direct consumption of fresh milk has increased, consumers have become mindful of the source of the milk they consume and the nutrient content, which has led them to invest more in premium milk, with Pride of Cows being a favourite. With an abundance of such consumers in Delhi NCR, we have spotted a huge opportunity for expansion in the region. After starting operations in South Delhi and Gurgaon, we plan to rollout the distribution in entire Delhi-NCR in the next couple of months. We will continue to maintain the exclusivity of the brand through a 'by-invitation' based model."
Dairy consumption is highest in the region and the initiative will allow the company to strengthen the supply of cow's milk and make the goodness of farm fresh milk reach Delhi NCR. The company recently acquired Danone facility in Sonipat and commenced the operations with pouch milk supply under their Gowardhan brand.
Priced at INR 120, per litre in Delhi NCR, consumers can subscribe to the premium milk on the Pride of Cows website. In the coming months, the company is planning to expand the product portfolio by introducing new milk variants under Pride of Cows.
Shares of Parag Milk Foods Ltd was last trading in BSE at Rs.239.6 as compared to the previous close of Rs. 242.5. The total number of shares traded during the day was 12715 in over 240 trades.
The stock hit an intraday high of Rs. 243.3 and intraday low of 238. The net turnover during the day was Rs. 3072238.