Milky Mist Dairy earnings calls.

Milky Mist delivered an exceptional Q1 FY27 with 44% YoY revenue growth to ₹973.45 croreCurrent reported value: 44% YoY revenue growth to ₹973.45 crore. No comparable prior figure is available in the source record., driven by broad-based volume and revenue expansion across all 22+ product categories. EBITDA margins expanded 120bps to 14.9%Current reported value: EBITDA margins expanded 120bps to 14.9%. No comparable prior figure is available in the source record., reflecting favorable product mix, pricing power, and operational scale benefits. The company—recently listed—operates a single integrated manufacturing facility in Erode, Tamil Nadu, sourcing 85%+ of milk directly from farmers. Paneer (26% of revenue, +34% volume growth), cheese (+38%), ice cream (+60%), and yogurt (+153% QoQ) were standout performers. Management flagged that the GST-driven pricing gap elimination versus unorganized players and analog paneer bans in certain states are structural tailwinds for the organized sector. With ~50% capacity utilization and planned whey protein concentrate plant (15-18 months out), operating leverage remains a key earnings driver. Near-term risks include milk procurement inflation (Tamil Nadu farmgate prices rose ₹3/liter recently) and single-plant concentration, though management indicated 10.5% price increases taken in the past year to offset input costs.