Milky Mist Dairy Food Shares Rise 5% Today, Stock Up 127% From IPO Price In Five Weeks
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Milky Mist Dairy Food shares rose 5% to ₹317.25 on September 23, taking the stock 126.6% above its ₹140 IPO price. Strong revenue growth, improving EBITDA margins, value-added dairy products and capacity expansion are driving investor focus after its August listing.
Milky Mist Dairy Food shares rose 5% to ₹317.25 on Wednesday, taking the stock ₹177.25 above its ₹140 IPO price, a gain of 126.6% in five weeks. The shares are also around 74.8% above their ₹181.45 BSE listing price on August 18.
At 1:00 pm IST on September 23, the stock was trading at ₹317.25 on the NSE, up ₹15.10 from the previous close. It has now moved above its previous post-listing high of ₹304.70 recorded on September 15.
The stock's rise has significantly increased the company's market value. Milky Mist Dairy Food was valued at around ₹10,778 crore at the upper end of its ₹133-140 IPO price band.
Why Is Milky Mist Dairy Food Stock Rising?
Milky Mist has reported strong revenue growth since the IPO. Revenue stood at ₹973.4 crore in the June quarter, up 43.6% from a year earlier. Revenue grew at a compound annual growth rate of around 31% between FY24 and FY26.
Profitability has also improved, with EBITDA margin rising to 13.7% in FY26 from 11.9% in FY24, an expansion of 180 basis points.
The company's portfolio is focused heavily on value-added dairy products. Paneer, cheese and curd together contribute around 60% of revenue, alongside products such as yoghurt, ice cream, frozen foods and ready-to-eat items.
Milky Mist has been adding capacity in newer dairy categories. It recently commissioned a Skyr and Greek yoghurt plant at Perundurai in Tamil Nadu, using ultrafiltration technology to produce high-protein dairy products.
The expansion is part of the company's broader plans for its Perundurai facility, which also include modernisation and additional equipment.
Milky Mist Dairy Food IPO Details
Milky Mist raised ₹1,553 crore through its IPO, which was subscribed 56.12 times. The issue comprised a fresh issue of ₹1,428 crore and an offer for sale of ₹125 crore.
The company planned to use the fresh issue proceeds for expansion and modernisation at Perundurai, repayment or prepayment of debt and purchases of equipment including visi coolers, ice cream freezers and chocolate coolers.
The company continues to face cost pressures from milk procurement, with feed, fodder and other operating costs influencing margins. For investors tracking the stock after its strong debut, revenue growth, margin performance and the ramp-up of new capacity remain key numbers to watch.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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