Parag Milk Foods cash flow

Latest FY26

Cash from operations: ₹149cr−29.5% on FY25
Capital spending: ₹109cr−13.0% on FY25
Free cash flow: ₹40.2cr−53.5% on FY25
Cash from financing: −₹60.1cr−₹78.4 cr in FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Jun 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	70.7	0.0	60.3	57.3
	—	81.4	93.1	76.2	55.2
	—	−2.6	3.1	0.0	−3.5
	—	0.0	0.0	−0.8	1.5
	—	5.2	0.3	0.0	0.0
	—	−15.1	2.5	2.5	0.0
	—	−31.8	0.0	−1.0	0.0
	—	0.0	9.6	−15.8	0.0
	—	−152	37.4	−41.8	−94.8
	—	63.7	−63.9	−133	−197
	—	0.0	0.0	0.0	−3.5
	—	0.0	0.0	0.0	−10.3
	—	−7.7	8.3	67.9	−43.3
	—	0.0	0.0	0.0	−11.9
	—	0.0	0.5	14.7	1.5
	—	2.6	0.0	0.0	0.0
Cash from operating activities
	152	152	133	85.9	51.1
	—	14.2	90.9	29.1	−248
	—	167	224	115	−197
	—	0.0	0.0	−4.2	0.0
	—	17.1	0.0	0.0	0.0
	—	0.0	11.5	11.7	−3.4
	—	149	212	99.1	−194
Cash from investing activities
	—	106	124	61.2	60.7
	—	3.1	1.7	0.0	0.2
	—	17.5	0.1	0.0	1.3
	—	0.0	0.6	0.6	0.0
	—	0.0	0.0	0.0	0.3
	—	0.0	0.0	4.6	0.0
	—	3.3	2.1	3.2	6.4
	—	−9.5	−9.7	9.1	−36.5
	—	−98.0	−132	−52.9	−89.4
Cash from financing activities
	—	40.3	0.0	14.1	179
	—	77.5	0.0	0.0	0.0
	—	34.3	45.3	38.5	76.2
	—	106	21.9	19.0	−16.3
	—	19.8	16.3	8.0	0.0
	—	74.2	85.7	75.0	54.1
	—	11.9	6.0	0.0	0.0
	—	0.0	6.2	0.0	0.0
	—	−60.1	−78.4	−49.4	218
	—	−8.6	1.3	−3.2	−65.9
	—	−8.6	1.3	−3.2	−65.9
	—	—	—	10.6	13.8
Reference items
	267	257	253	197	133
	6.8%	6.7%	7.4%	6.3%	4.6%
	40.2	40.2	86.5	37.9	−255
	—	−109	4.5	−14.7	—
	₹3.22	₹3.22	₹6.92	₹3.03	−₹20.39
	76.12×	—	—	—	—
	—	1.11×	1.78×	1.09×	−3.64×
	—	0.0	11.5	11.7	−3.4
	—	74.2	85.7	75.0	54.1

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

PARAGMILK₹244.95

Parag Milk Foods Limited

· FMCG & Retail

₹ CrorePeersVADILALIND DODLA KWIL HATSUN MLKFOOD VADILENTMcap ₹3,062 Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/06/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	57.3	60.3	0.0	70.7	—
+ Finance Costs	55.2	76.2	93.1	81.4	—
+ Interest Income	-3.5	0.0	3.1	-2.6	—
+ Fair Value (Gains) / Losses	1.5	-0.8	0.0	0.0	—
+ Share-based Payments	0.0	0.0	0.3	5.2	—
+ Unrealised FX (Gain) / Loss	0.0	2.5	2.5	-15.1	—
+ Other Non-cash Items	0.0	-1.0	0.0	-31.8	—
+ Other Reconciling Items	0.0	-15.8	9.6	0.0	—
Changes in Working Capital
+ Inventories	-94.8	-41.8	37.4	-152.4	—
+ Trade Receivables — Current	-196.7	-133.0	-63.9	63.7	—
+ Other Current Assets	-3.5	0.0	0.0	0.0	—
+ Other Non-current Assets	-10.3	0.0	0.0	0.0	—
+ Trade Payables — Current	-43.3	67.9	8.3	-7.7	—
+ Other Current Liabilities	-11.9	0.0	0.0	0.0	—
+ Provisions — Current	1.5	14.7	0.5	0.0	—
+ Provisions — Non-current	0.0	0.0	0.0	2.6	—
Cash from Operating Activities
Profit Before Tax (per I/S)	51.1	85.9	132.6	152.4	152.5
+ Total Adjustments (incl. Working Capital)	-248.5	29.1	90.9	14.2	—
Cash from Operations (pre-tax)	-197.4	115.0	223.5	166.6	—
+ Interest Received — Operating	0.0	-4.2	0.0	0.0	—
+ Interest Paid — Operating	0.0	0.0	0.0	17.1	—
+ Income Taxes Paid	-3.4	11.7	11.5	0.0	—
Cash from Operating Activities	-194.0	99.1	212.0	149.5	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	60.7	61.2	123.9	106.1	—
+ Acq of Intangible Assets	0.2	0.0	1.7	3.1	—
+ Disp of Fixed Assets	1.3	0.0	0.1	17.5	—
+ Disp of Biological Assets	0.0	0.6	0.6	0.0	—
+ Disp of Other Long-term Assets	0.3	0.0	0.0	0.0	—
+ Purchase of Investments (Equity / Debt)	0.0	4.6	0.0	0.0	—
+ Interest Received — Investing	6.4	3.2	2.1	3.3	—
+ Other Inflows / (Outflows) — Investing	-36.5	9.1	-9.7	-9.5	—
Cash from Investing Activities	-89.4	-52.9	-132.4	-98.0	—
Cash from Financing Activities
+ Proceeds from Issue of Shares	179.2	14.1	0.0	40.3	—
+ Proceeds from Other Equity Instruments	0.0	0.0	0.0	77.5	—
+ Proceeds from Borrowings	76.2	38.5	45.3	34.3	—
+ Repayment of Borrowings	-16.3	19.0	21.9	106.2	—
+ Payment of Lease Liabilities	0.0	8.0	16.3	19.8	—
+ Interest Paid	54.1	75.0	85.7	74.2	—
+ Dividends Paid	0.0	0.0	6.0	11.9	—
+ Other Inflows / (Outflows) — Financing	0.0	0.0	6.2	0.0	—
Cash from Financing Activities	217.6	-49.4	-78.4	-60.1	—
Net Changes in Cash (pre-FX)	-65.9	-3.2	1.3	-8.6	—
Net Changes in Cash	-65.9	-3.2	1.3	-8.6	—
Closing Cash	13.8	10.6	—	—	—
Reference Items
EBITDA	132.9	197.1	252.7	256.8	267.1
EBITDA Margin %	4.59	6.28	7.36	6.73	6.83
Free Cash Flow (CFO − Capex)	-255.0	37.9	86.5	40.2	40.2
Free Cash Flow to Equity	—	-14.7	4.5	-109.0	—
Free Cash Flow per Basic Share	-20.39	3.03	6.92	3.22	3.22
Price to Free Cash Flow	—	—	—	—	76.12
Cash Flow to Net Income	-3.64	1.09	1.78	1.11	—
Cash Paid for Taxes	-3.4	11.7	11.5	0.0	—
Cash Paid for Interest	54.1	75.0	85.7	74.2	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave

Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.