| Segment Growth | 91%FY26 YoY Growth |
|---|---|
| Market Cap | ₹2,793 CrFMCG Mid-cap |
| Revenue TTM | ₹3,817 CrOperating Revenue |
| PE Ratio | 20.68TTM Valuation |
Key highlights
- Launched Avvatar Protein Cold Coffee delivering 15g of protein per 250ml pack
- Collaborated with Tetra Pak to use India’s first Tetra Prisma Aseptic 250E packaging
- Product priced at ₹120 per pack and available in Classic and Vanilla variants
- Company new-age business segment recorded 91% year-on-year growth in FY26
- The beverage is milk-based with no added sugar or artificial sweeteners
The Product — What It Is
Avvatar Protein Cold Coffee is a ready-to-drink functional beverage delivering 15 grams of protein per 250ml serving. Developed in collaboration with Tetra Pak, it is packaged in India’s first Tetra Prisma Aseptic 250E format, which features an octagonal shape for ergonomic grip and premium shelf appeal. The beverage is based on milk protein and contains no added sugar or artificial sweeteners, catering to health-conscious consumers.
It is initially available in Classic and Vanilla variants priced at ₹120 per pack. The lightweight, paper-based packaging is fully recyclable, aligning with modern environmental standards for sustainable consumption.
Strategic Fit
- Expands the Avvatar brand from traditional sports nutrition powders into the high-frequency lifestyle beverage category
- Leverages the company's integrated dairy model to provide high-quality milk protein in a convenient format
- Targets the 73% of the Indian population identified as protein deficient through a familiar daily habit like coffee consumption
- Strengthens the new-age business segment which serves as a high-growth engine for the broader organization
- Utilizes innovative packaging technology to achieve on-shelf differentiation in the competitive retail landscape
Financial Context
Parag Milk Foods operates with an annual revenue of ₹3,817.5 crore and a current market capitalization of ₹2,793.08 crore. The company's new-age business segment, which includes the Avvatar brand, demonstrated significant momentum with a 91% year-on-year growth during the 2026 fiscal year. While the quarterly revenue saw a sequential decline of 6.65%, net profit for the quarter grew by 23.01% year-on-year.
The company maintains a durability score of 75 and a Piotroski score of 6, indicating a stable financial position as it continues to invest in product diversification and R&D-driven innovation within the premium dairy space.
Industry Context
India's whey protein-based products market is undergoing a period of rapid expansion driven by increasing nutritional awareness among urban consumers. The ready-to-drink protein segment is emerging as a critical sub-category within functional beverages as convenience becomes a primary driver for purchase decisions. Industry data suggests a shift from niche sports supplements toward everyday protein-fortified snacks and drinks.
This transition is supported by advancements in aseptic packaging technology, which allow for preservative-free shelf stability, enabling dairy companies to reach wider distribution networks without the constraints of traditional cold-chain logistics.
“With Avvatar Protein Cold Coffee, we wanted to bridge that gap by combining the familiarity of cold coffee with the functionality of high-quality protein in a convenient ready-to-drink format.”
“The Tetra Prisma Aseptic 250E format is widely used globally for RTD protein and similar beverages, offering the right balance of convenience, portion size, and safety.”
| Share price | ₹221.48 |
|---|---|
| Market capitalisation | ₹2,793.08 Cr |
| Revenue (annual) | ₹3,817.50 Cr |
| Net profit (annual) | ₹135.05 Cr |
| Revenue (latest quarter) | ₹945.34 Cr-6.65% vs previous quarter |
| Net profit (latest quarter) | ₹32.24 Cr+9.03% vs previous quarter |
| P/E (TTM) | 20.68×Sector 49.72× |
| Promoter holding | 40.65%0.00% QoQ |
| FII holding | 8.77%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 Ltd announcing the launch of Avvatar Protein Cold Coffee in partnership with Tetra Pak. Market figures from a third-party data provider.
