Parag Milk Foods Ltd. benchmarking: Performance to industry peers

Financial

	Parag Milk Foods	Heritage Foods	Vadilal Industries
Operational Metrics
FMCG
Manufacturing Capacity - Ghee	40150.0 MTPA	n/a	n/a
Total Milk Production	13.08 Mn Litre	n/a	n/a
Milk Processing Capacity	3.4 MLPD	2.95 MLPD	n/a
Volume Growth	-5.0 %	n/a	n/a
Unclassified
Advertisement Spend as a % of Total Sales	3.92 %	n/a	1.33 %
Financials
5 yr Average ROE	6.07 %	13.77 %	17.93 %
5yr average Equity Multiplier	2.09	1.58	1.95
5yr Average Asset Turnover Ratio	1.54	2.76	1.11
5yr Avg Net Profit Margin	-3.28 %	3.22 %	8.32 %
Price to Book	2.39	2.83	5.37
P/E	19.97	20.72	46.59
5yr Avg Cash Conversion Cycle	46.96 Days	9.6 Days	39.37 Days
Inventory Days	83.94 Days	28.04 Days	84.18 Days
Days Receivable	25.24 Days	4.24 Days	31.68 Days
Days Payable	48.33 Days	14.4 Days	86.21 Days
5yr Average Interest Coverage Ratio	-0.19	16.77	8.31
5yr Avg ROCE	-1.35 %	17.71 %	21.49 %
5yr Avg Operating Profit Margin	0.44 %	6.2 %	15.1 %
5 yr average Debt to Equity	0.66	0.15	0.4
5yr CAGR Net Profit	41.83 %	9.28 %	100.58 %
5yr Average Return on Assets	-4.62 %	8.79 %	9.83 %
Shareholdings
Promoter Holding	40.65 %	41.3 %	64.72 %
Share Pledged by Promoters	0.0	0.0	7.57 %
Change in Promoter Holding (3 Yrs)	-0.98 %	-0.28 %	-0.01 %
Change in Mutual Fund Holding (3 Yrs)	0.0	-10.25 %	0.0

	Parag Milk Foods	Heritage Foods	Vadilal Industries
Product Wise Break-Up	Product Wise Break-Up Milk Products 56.61 Skimmed Milk Powder 15.13 Dietary Supplement 10.58 Liquid Milk 9.31 Animal Feed 0 Renewable Energy 0 Dairy 0 Fruit Pulp, Frozen Fruits Etc. 0 Ice-Cream And Frozen Desert Product 0 Others 8.37	Product Wise Break-Up Milk Products 0 Renewable Energy 0.18 Liquid Milk 0 Animal Feed 5.79 Ice-Cream And Frozen Desert Product 0 Dairy 94.03 Skimmed Milk Powder 0 Dietary Supplement 0 Fruit Pulp, Frozen Fruits Etc. 0	Product Wise Break-Up Milk Products 0 Renewable Energy 0 Liquid Milk 0 Animal Feed 0 Ice Cream 90.0 Dairy 0 Skimmed Milk Powder 0 Dietary Supplement 0 Fruit Pulp, Frozen Fruits Etc. 10.0
Location Wise Break-Up	Location Wise Break-Up India 94.42 Rest of the World 2.55 Others 3.03	Location Wise Break-Up Rest of the World 0.05 India 99.95	Location Wise Break-Up Rest of the World 19.5 India 80.5