| Market Cap | ₹3,189.2 CrMid-cap FMCG |
|---|---|
| Revenue TTM | ₹3,910.6 CrOperating Income |
| P/E TTM | 24.63Sector PE 44.23 |
| RSI | 63.25Stable Momentum |
Key highlights
- Launch of Avvatar Popped Protein Chips in Magic Masala and Pudina variants priced at ₹60 per 30g pack
- Each pack delivers 10g of protein using a triple-blend of pea, milk, and whey protein concentrates
- Product is non-fried with zero added sugar, zero palm oil, and no preservatives for health-conscious consumers
- Distribution spans e-commerce, quick commerce, vending machines, and general and modern trade channels
- Strategically targets the Indian healthy snacking market, estimated to reach $3.28 billion in 2026
The Product — What It Is
Avvatar Popped Protein Chips are formulated to bridge the gap between indulgence and nutrition. Unlike traditional fried snacks, these chips are processed through a non-frying 'popping' method to maintain a healthier profile. The formulation utilizes a clean-label approach, featuring a proprietary triple-protein blend derived from pea, milk, and whey.
Each 30g serving provides 10 grams of protein, roughly three times the amount found in standard potato chips. The product is launched in two popular regional flavors, Magic Masala and Pudina, and is specifically marketed to avoid common additives like palm oil and refined sugars.
Commercial Opportunity & Market Trends
- Targets India's healthy snacking market, projected to grow at a CAGR of approximately 4.8% to 8% through 2030
- Positions the Avvatar brand to capture a share of the high-growth 'on-the-go' nutrition segment in urban centers
- Leverages a ₹60 price point to appeal to both impulse buyers and regular fitness-conscious consumers
- Utilizes an omnichannel distribution strategy including quick commerce platforms where Avvatar already holds a 14-15% market share
- Capitalizes on rising consumer awareness where over 86% of Indian snackers now prioritize protein content
Strategic Fit and Portfolio Expansion
This launch is a key milestone for Parag’s 'New Age Business' segment, which includes the Pride of Cows and Avvatar brands. This segment has shown significant momentum, growing 91% year-on-year in FY26 and contributing approximately 10% of the company's total turnover. By entering the snacking vertical, Parag is moving beyond specialized sports nutrition like whey protein powders and bars into everyday consumption formats.
This transition is supported by the company’s fully integrated supply chain; as India’s first manufacturer of native whey protein, Parag can insulate its new product line from global raw material price volatility.
Strategic Step Towards Nutrition
Entering snacking is therefore not simply an extension of our portfolio; it is a strategic step towards creating a larger, more contemporary food and nutrition business with protein at its core.
“This launch marks an important step in Parag Milk Foods’ evolution from a dairy-led company to a broader nutrition-led food business. We see a significant opportunity to take our expertise in dairy and protein and build it into categories that are increasingly relevant to the way consumers eat today.”
| Share price | ₹253.9 |
|---|---|
| Market capitalisation | ₹3,189.23 Cr |
| Revenue (annual) | ₹3,817.50 Cr |
| Net profit (annual) | ₹135.05 Cr |
| Revenue (latest quarter) | ₹944.57 Cr-0.08% vs previous quarter |
| Net profit (latest quarter) | ₹22.05 Cr-31.61% vs previous quarter |
| P/E (TTM) | 24.63×Sector 44.23× |
| Promoter holding | 40.49%-0.16% QoQ |
| FII holding | 7.46%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Parag Milk Foods Limited announcing the launch of Avvatar Popped Protein Chips. Market figures from a third-party data provider.
