Parag Milk Foods Ltd. expands its reach by venturing into the Indian Sweets category through the launch of two new products
Deepthi | Myequity news | Date : 07-01-2019 10:45:00 IST
Parag Milk Foods Ltd, leading manufacturer and marketer of dairy-based branded foods in India, recently launched two ready-to-eat Indian desserts, Gulab Jamun and Rasgulla, made from pure cow ghee and cow milk under the brand Gowardhan. With this, the company has forayed into the Indian sweets category which is ~Rs. 7,000 -8,000 Crs in size.
The company has a strong history of innovation, especially in its cheese category, which has enabled it to strengthen its value added products (VAP) category that made up two-thirds of its overall revenue in FY18. With the entry into the ready-to-eat Indian desserts category through the introduction of the beloved desserts of all Indians, the company plans to further strengthen its VAP category. About Parag Milk Foods Ltd:
Devendra Shah, Chairman, Parag Milk Foods Ltd. said, “The market for the Indian 'sweets category' is extremely large. In this category, Gulab Jamun and Rasgulla are the two most popular Indian desserts, with nearly every store in the country serving some version of them. We have introduced these two products on a small scale which we will gradually scale up across India. Although, we have started by introducing the regular range in Indian sweets that consists of Gulab Jamun and Rasgulla, we plan to introduce Mysore Pak, Shahi Gulab Jamun, etc in the future. We are excited to bring this range of desserts to the market.”
Parag Milk Foods Limited, established in 1992, is the largest private dairy FMCG Company with a pan- India presence. Under brand “Gowardhan”, it offers traditional products like Ghee, Dahi, Paneer etc. while under brand name “Go” it offers products like cheese, UHT milk, buttermilk, lassi, yoghurt etc.