Parag Milk Foods Share Price Target 2027: What Earnings Say About Rs 347 and Rs 419

Investors weighing a Parag Milk Foods target price for 2027 should start with where the stock sits today. At Rs 320.00 on 5 November 2026, it is 15.1% below its 52-week high of Rs 376.95 and 79.9% above its 52-week low of Rs 177.84. That range spans 112% from low to high, so the entry point matters as much as the Parag Milk Foods price forecast itself.

This article builds the Parag Milk Foods share price target from reported numbers only: four years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario states its assumptions, so you can trace how the base case, the bull case and the downside risk level were reached and test them against your own view.

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Parag Milk Foods Stock Analysis: Company Overview and Key Stats

Parag Milk Foods (NSE: PARAGMILK) has a market capitalisation of Rs 3,665 crore. In FY26 it reported revenue of Rs 3,871 crore and net profit of Rs 135.05 crore. The table collects the figures the Parag Milk Foods share price target is built on.

Metric	Value
Company	Parag Milk Foods
NSE Ticker	PARAGMILK
CMP (5 November 2026)	Rs 320.00
52-Week High	Rs 376.95
52-Week Low	Rs 177.84
Market Cap	Rs 3,665 crore
PE Ratio (TTM)	29.12
Industry PE	34.94
Price to Book	2.80
Return on Equity	9.61%
Debt to Equity	0.62
EPS (TTM)	Rs 10.02
Dividend Yield	0.38%
12-Month Base Target	Rs 347
Bull Case	Rs 419
Downside Risk Level (not a target)	Rs 233

Why Is Parag Milk Foods Share Price Target Set at Rs 347 for 2027?

The arithmetic is short. Trailing EPS of Rs 10.02 grown for one year gives a forward EPS estimate of Rs 11.92, and multiplying it by the unchanged PE of 29.12 gives the Rs 347 base-case Parag Milk Foods stock target. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.

Earnings Growth Behind the Parag Milk Foods Target Price: Four Years of Results

Parag Milk Foods grew revenue from Rs 2,938 crore in FY23 to Rs 3,871 crore in FY26, a compound annual growth rate of 9.6%. Net profit grew faster, from Rs 53.25 crore to Rs 135.05 crore (36.4% a year), which shows margin gains did part of the work and not just higher sales.

Financial Year	Revenue (Rs Cr)	Net Profit (Rs Cr)	EPS (Rs)	Dividend per Share (Rs)
FY23	2,937.78	53.25	4.96	0.00
FY24	3,163.71	90.59	7.47	0.50
FY25	3,472.46	118.79	9.51	1.00
FY26	3,870.96	135.05	10.57	1.10

FY26 revenue growth was 11.5%, close to the three-year average of 9.6%, and net profit moved up 13.7%. EPS rose from Rs 7.47 in FY24 to Rs 10.57 in FY26. The FY27 outlook depends on whether that EPS estimate keeps compounding.

Margins and the Latest Quarter

Parag Milk Foods converted 3.5% of FY26 revenue into net profit, against 3.4% in FY25, within a four-year range of 1.8% to 3.5%. EBITDA margin was 7.9% in FY26 versus 8.4% in FY25.

In the September 2026 quarter, revenue was Rs 1,243 crore, up 21.1% from the same quarter a year earlier, while net profit of Rs 42 crore was down 8.0%. EBITDA came in at Rs 100.60 crore, up 12.7% year on year. The next quarterly result is the first test of whether the earnings assumption holds.

Balance Sheet and Cash Flow

Debt to equity stands at 0.62, and shareholders' equity grew from Rs 807.91 crore in FY23 to Rs 1,259 crore in FY26. Operating cash flow in FY26 was Rs 149.48 crore against capital expenditure of Rs 109.25 crore, leaving free cash flow of Rs 40.23 crore, or 1.1% of the current market capitalisation. In FY25 free cash flow was Rs 86.53 crore.

Valuation Check for the Parag Milk Foods Stock Target: PE, Price to Book and ROE

At a PE of 29.12 against an industry PE of 34.94, Parag Milk Foods trades at a discount to its industry. Price to book is 2.80 on a book value of Rs 104.28 per share, and return on equity is 9.61%. A PE of 29.12 equals an earnings yield of 3.4%, and the FY26 dividend of Rs 1.10 per share gives a yield of 0.38%.

Shareholding Pattern and Institutional Holding

Promoters held 40.49% of Parag Milk Foods in September 2026, and promoter holding fell from 42.61% in September 2025 to 40.49% in September 2026. Foreign institutional investors (FII) held 7.59% and domestic institutions (DII) held 2.87%, which puts total institutional holding at 10.46%. FII holding fell from 9.91% in September 2025 to 7.59% in September 2026. Public shareholders own the remaining 49.04%.

Parag Milk Foods Share Price Targets for the Short Term and 12 Months

Short Term Parag Milk Foods Stock Target Levels: Technical Setup

At Rs 320.00 on 5 November 2026, Parag Milk Foods trades above its 50-day simple moving average of Rs 266.74 and above its 200-day exponential moving average of Rs 245.51. The 14-day RSI reads 57.3, which is neutral territory, and the MACD line sits above its signal line. The nearest resistance level is Rs 376.95 (52-week high) and the nearest support is Rs 266.74 (50-day simple moving average). A sustained move above Rs 376.95 would improve the short-term setup, while a close below Rs 266.74 would shift attention to the next support.

12 Month Parag Milk Foods Target Price for 2027

The 12-month target of Rs 347 means a move of 8.4% up from Rs 320.00 over the next 12 months. It would still leave the stock 7.9% below its 52-week high of Rs 376.95. Anyone checking the Parag Milk Foods share price target against their own view should focus on two inputs: the EPS estimate and the PE multiple.

How EPS Growth and PE Multiple Change the Parag Milk Foods Target Price

EPS Growth	PE 23.30	PE 29.12	PE 33.49
0.0% (EPS Rs 10.02)	Rs 233	Rs 292	Rs 336
19.0% (EPS Rs 11.92)	Rs 278	Rs 347	Rs 399
25.0% (EPS Rs 12.52)	Rs 292	Rs 365	Rs 419

Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the Parag Milk Foods price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.

Bull Case and Downside Risk for Parag Milk Foods Stock Target in 2027

Bull Case Rs 419

The bull case Parag Milk Foods price target needs EPS growth of 25.0%, which lifts forward EPS to Rs 12.52, and a PE multiple that rises 15% to 33.49. That gives Rs 419, 30.9% above the current price and above the 52-week high of Rs 376.95, so the stock would have to set a fresh 52-week high.

Downside Risk Level Rs 233

The downside risk level is not a target. It assumes EPS stays flat at Rs 10.02 and the PE falls 20% to 23.30. That gives Rs 233, 27.2% below the current price and above the 52-week low of Rs 177.84.

Scenario	EPS Growth	PE Multiple	Price (Rs)	Change vs CMP
Bull Case	25.0%	33.49	Rs 419	+30.9%
Base Case	19.0%	29.12	Rs 347	+8.4%
Downside Risk	0.0%	23.30	Rs 233	-27.2%

Key Risks to the Parag Milk Foods Target Price for 2027

Growth Slowdown Risk for the Parag Milk Foods Price Target

Revenue in the September 2026 quarter was up 21.1% year on year, and FY26 revenue growth was 11.5%. If growth slows from here, the EPS estimate behind the Parag Milk Foods stock target will need revising.

Liquidity and Size Risk

Parag Milk Foods has a market capitalisation of Rs 3,665 crore. Institutional holding is 10.46%, and promoters hold 40.49%. Stocks of this size can move sharply on small volumes, and exits can take longer than entries.

Valuation and Margin Risk

Net margin was 3.5% in FY26, so a small slip in costs moves profit noticeably. At a PE of 29.12 versus an industry PE of 34.94, a de-rating toward the downside-risk PE of 23.30 would cut the price even if earnings hold.

Market and Technical Risk

Technical indicators add short-term risk: the 14-day RSI is 57.3 and the MACD sits above its signal line. A broad fall in the Nifty 50 or the Sensex can override company fundamentals for weeks at a time. That applies to any Parag Milk Foods stock target, however carefully it is built.

How to Invest in Parag Milk Foods

Start with the live price and volume. Any Parag Milk Foods share price target is only as current as the data behind it, and the data here is as of 5 November 2026, so refresh the Rs 320.00 price before acting on any level.

Next, review the fundamentals yourself. The Univest Screener lets you check Parag Milk Foods' PE, ROE, debt and shareholding in one place.

Check Parag Milk Foods fundamentals on the Univest Screener

Then compare the three Parag Milk Foods target price scenarios with your own view. If you expect EPS growth below 19.0%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.

Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.

Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.

Download the Univest iOS App or Univest Android App to track Parag Milk Foods live price and get daily stock recommendations.

Conclusion

The Parag Milk Foods share price target for 2027 is Rs 347 in the base case, with Rs 419 as the bull case. The support for that view is arithmetic you can check: EPS grew 19.0% a year over FY24 to FY26, and the stock trades at a PE of 29.12. The risks are equally concrete, including a net margin of just 3.5% that leaves profit sensitive to costs and a downside scenario that cuts the price 27% if earnings stall. Use these numbers as a framework, check them against the latest filings, and size any position to your own risk appetite.

FAQs on Parag Milk Foods Share Price Target 2027

What is the Parag Milk Foods share price target for 2027?

Ans. The base-case Parag Milk Foods share price target for 2027 is Rs 347, which is 8.4% above the price of Rs 320.00 on 5 November 2026. The bull case is Rs 419 and the downside risk level, which is not a target, is Rs 233. All three come from one method: forward EPS multiplied by a PE multiple, using only reported results. They are model estimates and not guaranteed outcomes, and the next quarterly result is the first check on the EPS assumption.

What is the Parag Milk Foods share price today?

Ans. As of 5 November 2026, 11:30 AM IST, Parag Milk Foods (NSE: PARAGMILK) trades at Rs 320.00, up 9.60% on the day. That is 15.1% below the 52-week high of Rs 376.95 and 79.9% above the 52-week low of Rs 177.84. The market capitalisation of Rs 3,665 crore places it among small-cap stocks. Prices change through the trading session, so check the live quote before acting on any level in this article.

Is Parag Milk Foods a buy or sell at the current price?

Ans. The data points both ways. On the positive side, EPS has grown 19.0% a year over FY24 to FY26 and the base case implies 8.4% upside; on the cautious side, the net margin is a thin 3.5%, and the downside risk level of Rs 233 is 27% below the current price. Whether Parag Milk Foods fits your portfolio depends on your time horizon, position size and risk appetite. Consult a SEBI-registered advisor before investing, as this article is not investment advice.

What are the bull case target and downside risk level for Parag Milk Foods shares?

Ans. The bull case in the Parag Milk Foods share price target for 2027 is Rs 419, which assumes 25.0% EPS growth and a PE of 33.49, a 15% re-rating from today's multiple. That is 30.9% above the current price and above the 52-week high of Rs 376.95, so the stock would have to set a fresh 52-week high. The downside risk level is Rs 233, which assumes flat EPS and a PE of 23.30, 20% lower than today. It sits 27.2% below the current price and above the 52-week low of Rs 177.84, and it marks a risk to watch, not a target.

What are the main risks to the Parag Milk Foods price target?

Ans. Four risks matter most for the Parag Milk Foods share price target: slower revenue or profit growth, a PE de-rating, thin liquidity or size risk, and weakness in the broader market. With a market capitalisation of Rs 3,665 crore, the stock can move sharply on small volumes, and exits can take longer than entries. A fall to the downside-risk PE of 23.30 would cut the price even if earnings hold.

What is the PE ratio of Parag Milk Foods and how does it compare with the industry?

Ans. The PE ratio of Parag Milk Foods is 29.12, against an industry PE of 34.94, which is a discount to the industry. Price to book is 2.80 and return on equity is 9.61%, and the PE equals an earnings yield of 3.4%. The base case holds the PE unchanged, so the Parag Milk Foods share price target moves only with earnings, while the bull and downside scenarios change the multiple by +15% and -20%.

Who owns Parag Milk Foods, and what is the promoter holding?

Ans. Promoters held 40.49% of Parag Milk Foods in September 2026. FII held 7.59%, DII held 2.87% and the public held 49.04%. Together the two institutional groups hold 10.46%. Shareholding is filed every quarter, so it is worth rechecking after each result.

What were Parag Milk Foods' latest quarterly results?

Ans. In the September 2026 quarter, Parag Milk Foods reported revenue of Rs 1,243 crore (up 21.1% year on year) and net profit of Rs 42 crore (down 8.0%). For comparison, FY26 full-year revenue growth was 11.5% and net profit moved up 13.7%. Each new quarter either supports or weakens the EPS growth of 19.0% assumed in the base case.