Milky Mist Dairy Food IPO

Incorporated in 2014, Milky Mist Dairy Food Limited is an Indian dairy company engaged in the production and distribution of a wide range of dairy and frozen food products. The company initially introduced branded packaged paneer in India and subsequently expanded its portfolio to include curd, ghee, butter, cheese, yogurt, ice cream, UHT long shelf life products, chocolates, and sweetened condensed milk. Operations & InfrastructureMilky Mist Dairy Food Limited operates an integrated farm-to-retail supply chain model. Raw milk is sourced directly from 67,615 farmers across 22 districts in Tamil Nadu, Andhra Pradesh, and Karnataka, all located within a 400-kilometre radius of its primary manufacturing facility in Perundurai, Erode District, Tamil Nadu. This facility focuses on value-added dairy production. A second facility in Bengaluru, Karnataka, is dedicated to the production of frozen foods, including ready-to-eat (RTE) and ready-to-cook (RTC) products. As of March 31, 2025, the company’s logistics infrastructure included 44 milk vans for sourcing, 252 reefer trucks for temperature-controlled transportation of perishable goods, and 34 ambient trucks for non-perishable items. Sales & DistributionThe company’s distribution network spans multiple sales channels, including general trade, modern trade, HoReCa (hotels, restaurants, and cafés), e-commerce, quick commerce platforms, and exclusive Milky Mist parlours. Products are sold in 22 states and 5 union territories through 3,062 distributors and 44 clearing and forwarding (C&F) depots in 44 cities across 13 states. This network reaches over 350,000 retail touchpoints across India. Market PresenceAccording to the 1Lattice Report, in Fiscal 2025, the company held approximately 17% market share by value in the organised packaged paneer segment in India. In the same fiscal year, it had approximately 12% market share in the organised packaged cheese market in South India and approximately 5% market share nationally among private players in the same category. ExportsBetween April 1, 2022, and March 31, 2025, the company exported dairy products to more than 15 countries, including Singapore, the United States, Australia, and various countries in the Middle East. EmployeesAs of March 31, 2025, Milky Mist Dairy Food Limited employed 1,524 permanent employees.