Parag Milk expects dip in revenue growth over next 3 years

first_imgMumbai, Jan 21 (PTI) Parag Milk Foods is expecting a dip in revenue growth to up to 15 per cent per annum over the next three years, and will focus on dairy FMCG products in this period.The companys revenue grew by 17 per cent in the last three years to reach Rs 1,730.7 crore in FY17 and is looking at a CAGR (compounded annual growth rate) of 13-15 per cent in the next three years, the dairy product firm said in an investor presentation here.The company is Indias largest private dairy with a milk processing capacity of 2 million litres per day.The future growth will come mainly from traditional products like liquid milk, ghee, paneer and curd, which are expected to grow by 15 per cent, while modern products like UHT milk, flavoured milk, cheese and whey powder may grow by 26 per cent by 2020, the company said.Parag Food plans to increase operation efficiencies by leveraging in-house technological, R&D capabilities and strengthening brands. It is looking at focusing on introducing healthy and nutritious products.India is expected to emerge as the largest dairy producer by 2020, Edelweiss Securities said in a report.The Union government implemented the Central Scheme National Dairy Plan – Phase 1 – during 2012-17 to improve productivity of dairy cooperatives through several input activities, it said.Investments by private players in the domestic dairy sector is also expected to further augment milk productivity.Going ahead, Indias milk production is expected to outperform global production and grow at similar 4.2 per cent CAGR going ahead to 185 million MT per annum/507mn litres per day and surpass EU to emerge the largest dairy producer by 2020. It is expected to improve in value terms at 15 per cent CAGR to Rs 9.4 trillion over FY16-20, the report said.advertisementCommenting on capex plans, the company said, it has raised Rs 150 crore last year and have already spent around Rs 90 crore for capex as laid out in its IPO objectives.It has left with Rs 60 crore, of which it will incur a capex of Rs 17.74 crore for expansion of the processing facility in Manchar plant in Maharashtra.The company is betting big on its 100 per cent vegetarian protein product as the country?s sports nutrition segment is estimated at Rs 1,500 crore and given the increase in number of health clubs and fitness centres. PTI AP AA RSYlast_img read more

Man charged with seconddegree murder in Newfoundland womans death

first_imgST. JOHN’S, N.L. – A court appearance for a man accused in the death of a Newfoundland woman took a dramatic turn as members of the deceased’s family gave voice to their grief.Steve Bragg of Mount Pearl was in court to face a second-degree murder charge in the death of 36-year-old Victoria Head, whose body was found near a walking trail in St. John’s, N.L., on Nov. 11.According to media reports, Darlene Dinn, Head’s sister-in-law, broke down in tears and hurled obscenities after the charge was read, yelling at Bragg as he was brought back into custody.“I hope you see her every time you close your eyes,” she reportedly said.Outside court, Dinn told reporters that the holiday season has made the loss of her sister-in-law even more painful.“I feel like I’m empty. Christmas is two days away, and it was her favourite time of the year,” Dinn said, overwhelmed with emotion.“I’m broken. The family is broken. There is nothing anybody can do to bring her back. It’s huge, it’s so huge that we have someone (charged) but it still can’t bring her back. That’s all we want, is to have her home, to hug her.”Victoria Head’s oldest brother, Billy Jo, told reporters that he laid eyes on Bragg for the first time on Saturday, and while he feels bad for Bragg’s family, he hopes justice is served.“I want (Bragg) to suffer like my sister suffered,” he told reporters. “So many secrets, hopefully it all comes out.”The Royal Newfoundland Constabulary says Head and Bragg were known to each other.Bragg is due to return to court on Jan. 11.—(VOCM)last_img read more