Milk Mantra, a B2C, mass premium dairy company, has reported a financial turnaround for FY24. The company has achieved a revenue of Rs 279 crore in FY24, up from Rs 272.90 crore in FY23. The company has improved its EBITDA from a loss of Rs 6.56 crore in the previous fiscal year to a positive 6% revenue.
This swing back to profitability comes despite challenging market conditions, highlighting the effectiveness of the brand’s focus on value-added products and operational efficiency. Its value-added portfolio grew by 15% year-on-year, with its curd products maintaining a 35% CAGR. The company has been sustainably positive for three years since its break-even in 2021.
Rashima Misra, Cofounder and ED, Milk Mantra, said, ‘‘Our journey from a Rs 6.56 crore EBITDA loss to a positive 6% margin, coupled with our industry-leading 28% contribution margin, reflects the strength of our business model. This milestone enables us to further invest in innovation and expansion of our ‘Milky Moo’ brand, while continuing to support our network of 80,000 farmers.’’
The company’s B2C approach continues to drive its success, with 95% of revenue generated through its own general trade distribution channel. Its D2C initiative, ‘Daily Moo’, has gained significant traction, contributing 5% of total revenue and serving approximately 4,000 daily orders in Bhubaneswar alone.
The recent USD 10 million funding from USDFC has further fueled the company’s expansion plans. It is on the verge of completing a new fermented products manufacturing plant that set to bolster the regional expansion of the Milky Moo brand.
Looking ahead, Milk Mantra plans to scale up its D2C model, expand into key markets, and introduce innovative niche products over the next two fiscal years. The company remains committed to growing its farmer network, reinforcing its dedication to ethical milk sourcing and rural economic development.
