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Milkfood Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹21.17Overvalued by 65.85%vs CMP ₹62.00

P/E (15.0) × ROE (2.5%) × BV (₹69.30) × DY (1.01%)

Defaults: P/E=15

₹47.42Overvalued by 23.52%vs CMP ₹62.00
MoS: -30.7% (Negative)Confidence: 43/100 (Low)Models: 3 Under, 4 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹15.3226%Over (-75.3%)
Graham NumberEarnings₹53.7123%Over (-13.4%)
Net Asset ValueAssets₹69.3910%Under (+11.9%)
EV/EBITDAEnterprise₹74.7313%Under (+20.5%)
Earnings YieldEarnings₹18.5010%Over (-70.2%)
ROCE CapitalReturns₹52.9510%Over (-14.6%)
Revenue MultipleRevenue₹91.978%Under (+48.3%)
Consensus (7 models)₹47.42100%Overvalued
Key Drivers: EPS CAGR -27.6% drags value — could be higher if earnings stabilize. | ROE 2.5% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -27.6% · Defaults: P/E=15

*Investments are subject to market risks

Analyst Summary

Milkfood Ltd operates in the Milk & Milk Products segment, NSE: MLKFOOD | BSE: 507621, current market price is ₹62.00, market cap is 151 Cr.. At a glance, ROE is 2.52 %, ROCE is 6.24 %, book value is 69.3, dividend yield is 1.01 %. The latest intrinsic value estimate is ₹47.42, around 23.5% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹448 Cr versus the prior period change of 2.5%, while latest net profit is about ₹5 Cr with a prior-period change of -28.6%. The 52-week range shown on this page is 88.0/44.0, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisMilkfood Ltd. is a Public Limited Listed company incorporated on 31/03/1973 and has its registered office in the State of Punjab, India. Company's Corporate Identification Number(CIN) is L15201PB1973P…

This summary is generated from the stock page data available for Milkfood Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

46
Milkfood Ltd scores 46/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health50/100 · Moderate
ROCE 6.2% WeakROE 2.5% WeakD/E 0.52 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 56.0% Stable
Earnings Quality60/100 · Moderate
OPM stable around 5% SteadyWorking capital: 16 days (improving) Efficient
Quarterly Momentum30/100 · Weak
Revenue (4Q): 1% YoY FlatProfit (4Q): -184% YoY DecliningOPM: -3.2% (down 10.6% YoY) Margin pressure
Industry Rank30/100 · Weak
ROCE 6.2% vs industry 16.3% Below peersROE 2.5% vs industry 13.6% Below peers3Y sales CAGR: 12% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: May 5, 2026, 3:33 am

Market Cap 151 Cr.
Current Price 62.0
Intrinsic Value₹47.42
High / Low 88.0/44.0
Stock P/E
Book Value 69.3
Dividend Yield1.01 %
ROCE6.24 %
ROE2.52 %
Face Value 5.00
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Milkfood Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Milkfood Ltd 151 Cr. 62.0 88.0/44.0 69.31.01 %6.24 %2.52 % 5.00
Umang Dairies Ltd 189 Cr. 85.7 96.8/72.4309 20.70.00 %4.52 %1.35 % 5.00
Modern Dairies Ltd 109 Cr. 38.4 59.0/30.04.86 17.00.00 %%% 10.0
Vadilal Industries Ltd 3,340 Cr. 4,643 7,399/3,99027.3 1,0920.45 %25.1 %24.0 % 10.0
Heritage Foods Ltd 3,357 Cr. 362 542/29220.5 1120.69 %25.3 %20.2 % 5.00
Industry Average4,972.57 Cr904.4064.30206.970.41%16.31%13.64%7.00

All Competitor Stocks of Milkfood Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 103.40150.40133.4594.46105.80114.98121.6996.0580.40113.28158.0373.6674.05
Expenses 96.68142.58124.9394.8299.96108.36114.1190.1674.42109.84149.7374.7276.38
Operating Profit 6.727.828.52-0.365.846.627.585.895.983.448.30-1.06-2.33
OPM % 6.50%5.20%6.38%-0.38%5.52%5.76%6.23%6.13%7.44%3.04%5.25%-1.44%-3.15%
Other Income 3.240.370.143.742.570.023.060.020.001.280.595.550.10
Interest 2.062.653.303.473.373.333.363.223.181.163.273.223.49
Depreciation 1.541.681.651.721.721.691.591.671.651.831.951.962.14
Profit before tax 6.363.863.71-1.813.321.625.691.021.151.733.67-0.69-7.86
Tax % 22.48%15.28%8.63%-23.76%-3.92%27.78%31.81%42.16%21.74%63.58%34.33%0.00%0.00%
Net Profit 4.933.273.39-1.383.451.173.880.590.900.632.41-0.69-7.86
EPS in Rs 2.521.671.73-0.701.760.571.880.240.370.260.99-0.28-3.22

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 431371373389491531551368316467437448419
Expenses 427355352368465503527348303444417424411
Operating Profit 416212126282520132420248
OPM % 1%4%6%5%5%5%4%5%4%5%4%5%2%
Other Income 1622-4001034928
Interest 119131210888710141111
Depreciation 6695678976778
Profit before tax 322-010139321198-3
Tax % 57%42%39%1,150%16%23%4%25%-51%15%19%40%
Net Profit 111-18108231075-6
EPS in Rs 0.600.510.47-0.514.165.224.281.241.784.973.461.85-2.25
Dividend Payout % 0%0%0%0%0%0%0%0%0%13%18%68%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)0.00%0.00%-200.00%900.00%25.00%-20.00%-75.00%50.00%233.33%-30.00%-28.57%
Change in YoY Net Profit Growth (%)0.00%0.00%-200.00%1100.00%-875.00%-45.00%-55.00%125.00%183.33%-263.33%1.43%

Milkfood Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: Unknown

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 555555555551212
Reserves 2930318593103112114118128170164157
Borrowings 818394857159767373122116118128
Other Liabilities 10511374939011510811810974808168
Total Liabilities 220231204268259283300309304329371375365
Fixed Assets 100101107165163166183184184190222226225
CWIP 2122122250001
Investments 0000000000000
Other Assets 1171289510194115116124115139149149139
Total Assets 220231204268259283300309304329371375365

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 22640272734201314-302019
Cash from Investing Activity + -8-6-16-9-5-10-22-8-5-71-4
Cash from Financing Activity + -131-25-19-23-200-7-836-21-15
Net Cash Flow 01-0-1-04-2-20-100
Free Cash Flow 9-125182324-268-372115
CFO/OP 596%36%190%126%110%130%92%71%118%-114%102%98%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-77.00-67.00-73.00-64.00-45.00-31.00-51.00-53.00-60.00-98.00-96.00-94.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 7151715415225366256467
Inventory Days 8210476846356464029633434
Days Payable 414624282837253423395452
Cash Conversion Cycle 477369713935435972494448
Working Capital Days -35-71-6202030232016
ROCE %12%10%11%11%12%13%9%6%5%9%7%6%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 50.11%50.11%50.13%47.74%47.74%56.03%56.03%56.03%56.03%56.03%56.03%56.03%
FIIs 7.64%7.64%7.64%7.28%7.28%2.67%1.00%0.14%0.00%0.00%0.00%0.00%
DIIs 0.06%0.06%0.06%0.06%0.06%0.05%0.02%0.02%0.02%0.02%0.02%0.02%
Public 42.20%42.19%42.16%44.92%44.92%41.24%42.94%43.80%43.95%43.94%43.93%43.95%
No. of Shareholders 4,3164,3404,3554,5234,7307,49011,63211,45311,36211,12611,02110,766

Shareholding Pattern Chart

No. of Shareholders

Milkfood Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 5.0010.0010.0010.0010.00
Basic EPS (Rs.) 1.8514.2719.927.114.97
Diluted EPS (Rs.) 1.8514.2719.017.114.97
Cash EPS (Rs.) 4.7626.9832.9420.5122.88
Book Value[Excl.RevalReserv]/Share (Rs.) 72.28339.10272.04250.84243.39
Book Value[Incl.RevalReserv]/Share (Rs.) 72.28339.10272.04250.84243.39
Revenue From Operations / Share (Rs.) 183.66851.72955.83646.63752.37
PBDIT / Share (Rs.) 10.4656.6755.7733.0741.35
PBIT / Share (Rs.) 7.5543.5742.7619.6923.46
PBT / Share (Rs.) 3.1117.1923.504.726.67
Net Profit / Share (Rs.) 1.8513.8819.947.144.99
NP After MI And SOA / Share (Rs.) 1.8513.8819.947.144.99
PBDIT Margin (%) 5.696.655.835.115.49
PBIT Margin (%) 4.105.114.473.043.11
PBT Margin (%) 1.692.012.450.730.88
Net Profit Margin (%) 1.001.622.081.100.66
NP After MI And SOA Margin (%) 1.001.622.081.100.66
Return on Networth / Equity (%) 2.554.097.322.842.05
Return on Capital Employeed (%) 7.008.488.974.195.21
Return On Assets (%) 1.201.912.961.140.78
Long Term Debt / Equity (X) 0.320.360.530.140.13
Total Debt / Equity (X) 0.640.650.900.590.52
Asset Turnover Ratio (%) 1.201.251.481.031.21
Current Ratio (X) 1.191.251.321.371.24
Quick Ratio (X) 0.890.940.641.110.87
Inventory Turnover Ratio (X) 13.566.7810.199.296.20
Dividend Payout Ratio (NP) (%) 33.7017.9712.610.000.00
Dividend Payout Ratio (CP) (%) 13.099.247.630.000.00
Earning Retention Ratio (%) 66.3082.0387.390.000.00
Cash Earning Retention Ratio (%) 86.9190.7692.370.000.00
Interest Coverage Ratio (X) 2.352.152.792.212.46
Interest Coverage Ratio (Post Tax) (X) 1.421.531.961.481.30
Enterprise Value (Cr.) 265.97377.65417.35253.56220.39
EV / Net Operating Revenue (X) 0.590.860.890.800.59
EV / EBITDA (X) 10.4312.9915.3015.6810.90
MarketCap / Net Operating Revenue (X) 0.340.600.630.570.43
Retention Ratios (%) 66.2982.0287.380.000.00
Price / BV (X) 0.871.532.241.491.33
Price / Net Operating Revenue (X) 0.340.600.630.570.43
EarningsYield 0.020.020.030.010.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Milkfood Ltd. is a Public Limited Listed company incorporated on 31/03/1973 and has its registered office in the State of Punjab, India. Company's Corporate Identification Number(CIN) is L15201PB1973PLC003746 and registration number is 003746. Currently company belongs to the Industry of Milk & Milk Products. Company's Total Operating Revenue is Rs. 447.76 Cr. and Equity Capital is Rs. 12.19 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Milk & Milk ProductsP.O. Bahadurgarh, Patiala Dist. Punjab 147021Contact not found
Management
NamePosition Held
Mr. Sudhir AvasthiManaging Director
Mrs. Gita BawaInd. Non-Executive Director
Mr. Anil GirotraInd. Non-Executive Director
Mrs. Namita SwainInd. Non-Executive Director
Mr. Harmesh Mohan SoodNon Exe.Non Ind.Director
Mrs. Preeti MathurNon Exe.Non Ind.Director

FAQ

What is the intrinsic value of Milkfood Ltd and is it undervalued?

As of 05 May 2026, Milkfood Ltd's intrinsic value is ₹47.42, which is 23.52% lower than the current market price of ₹62.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (2.52 %), book value (₹69.3), dividend yield (1.01 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Milkfood Ltd?

Milkfood Ltd is trading at ₹62.00 as of 05 May 2026, with a FY2026-2027 high of ₹88.0 and low of ₹44.0. The stock is currently in the middle of its 52-week range. Market cap stands at ₹151 Cr..

How does Milkfood Ltd's P/E ratio compare to its industry?

Milkfood Ltd has a P/E ratio of , which is below the industry average of 64.30. This is broadly in line with or below the industry average.

Is Milkfood Ltd financially healthy?

Key indicators for Milkfood Ltd: ROCE of 6.24 % is on the lower side compared to the industry average of 16.31%; ROE of 2.52 % is below ideal levels (industry average: 13.64%). Dividend yield is 1.01 %.

Is Milkfood Ltd profitable and how is the profit trend?

Milkfood Ltd reported a net profit of ₹5 Cr in Mar 2025 on revenue of ₹448 Cr. Compared to ₹3 Cr in Mar 2022, the net profit shows an improving trend.

Does Milkfood Ltd pay dividends?

Milkfood Ltd has a dividend yield of 1.01 % at the current price of ₹62.00. The company pays dividends, though the yield is modest.

Last Updated: May 5, 2026, 3:33 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 507621 | NSE: MLKFOOD
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Milkfood Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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