Milky Mist does not sell milk. Not even a single packet.

Milky Mist does not sell milk. Not even a single packet. They buy 400 million liters milk every year and convert all of it into paneer, cheese, curd and ice cream. Milky Mist did not own the brand name. It was owned by the founder till last year who sold it to the company for ₹8 crore. Biggest shareholder of Milky Mist is not the founder himself. It's his wife who holds 49.48%. Founder holds 39.38% only. Milky Mist has 1317 permanent employees and their FY26 revenue was ₹3138 crore. That's more than ₹2.4 crore revenue per employee. Even IT companies or Jio can't beat this number. They barely advertise. FY24 ad budget was ₹20.6 crore which is just 1% of their revenue. They have a different and unique style of marketing. Milky Mist owns 41,459 refrigerators. They have given these to kirana stores. Whenever you visit a shop, you see their name. Free marketing. ROE in FY26 was 32%. You will see this number, you will go crazy. But this is funded by debt. ROCE is only 11.73%. They have borrowed ₹1672 crore against equity of ₹463 crore. Debt to Equity is 3.61x. 100 days before the IPO opened today, Temasek acquired 5% of Milky Mist at roughly 10000 cr valuation. IPO is valued at the same price.

130 comments held Reddit says 1 on reddit ↗

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u/czar_elixr 1 1 day ago

Even it has shitty product with substandard quality and there has been instances of rotten paneer or expired paneer as well
u/rajmaa_chawal 1 1 day ago

100% agree.
u/MammothPurpose3235 1 1 day ago

Used their paneer for a bbq on wood fire. It stayed hard.
u/pineappleshaked 1 1 day ago

That's what my gf said
u/PageEconomy8066 1 1 day ago

The actual problem is how cold chain infra structure works. The responsibility of Milky Mist is only upto the retail store or quick-comm warehouse. If you order panneer from shitty apps like zepto dont blame the manaufacturer, these end facing guys do not have infra to store dairy products properly.
u/MammothPurpose3235 1 1 day ago

Then they got to be ready to face the shitty reviews too. A customer with a bad experience once will not want to risk it again
u/winter2x 1 1 day ago

This. People don’t realise that considering the shitty cold chain infra that India has we should be grateful not more people het food poisoning and some life threatening issues. Otherwise all qcom platforms temperature abuse the frozen and refrigerated food.
u/Expensive_Project388 1 1 day ago

If I am not wrong even Amul and Nandhini too buy milk from farmers.
u/yavij87 1 1 day ago

Yes but they do sell Milk as a product but Milky mist doesn't
u/Expensive_Project388 1 1 day ago

Ohk. What is stopping milky mist from selling? And, if the founder and his wife are holding stake separately, it doesn't matter because they are one team. So, why is post saying they hold it separately?
u/Danthr01 1 1 day ago

Divorce brother but they are 2 seperate entities anyway
u/Expensive_Project388 1 1 day ago

Ok my bad. I wasnt aware of family dynamics. I assumed it was share ownership split between family members like any other business.
u/Signal-Volume5713 1 1 day ago

Not your fault. If they are divorced, then OP should mention ex-wife
u/sigapuit 1 1 day ago

Are they divorced?
u/Signal-Volume5713 1 1 day ago

If they are divorced, then that's his ex wife. OP is inaccurate in the post for saying wife.
u/Danthr01 1 1 day ago

Guy's I'm not saying they are divorced I don't know I'm just mentioning this to justify the 2 separate entities not as a single person
u/yavij87 1 1 day ago

Most of what has been posted has no relevance.
u/e_karma 1 1 day ago

Well, I think they value added products are much profitable
u/yavij87 1 15 hours ago

Exactly.
u/Smash-Racer 1 1 day ago

Because they don't have network and logistics like amul to sell milk, which has short shelf life. So they focus only on dairy product that have longer shelf life, like pneer curd ghee ice etc
u/piezod 1 1 day ago

It's a strategy. Processing foods for value added products gives better margins. This is true for all industries.
u/zinda-hoon-kaafi-hai 1 1 day ago

Probably because margins on milk is wafer thin and processing to make it paneer will yield much better returns
u/Prize-Collection411 1 19 hours ago

Shelf life. Milk has to be sold in 1 day. Curd can be stored for a week. Paneer for a month.
u/sapient_hunter 1 16 hours ago

Reasons not to sell milk: 1. Profit margin is less 2. Very short shelf life
u/terrible_twat 1 16 hours ago

They do sell milk in tetra packs. It's available on blinkit and instamart as well.
u/Acrobatic_Forever536 1 15 hours ago

They do sell UHT milk, I've often bought that.
u/yavij87 1 15 hours ago

I believe you're talking about the tetra pack ones. Yes they do. What I meant is, they don't have the supply chain for selling fresh milk. They didn't want to compete with Amul/ Aavin/ Nandhini rather carved out a niche for processed milk products
u/Acrobatic_Forever536 1 15 hours ago

Yes, true that. Higher value dairy products. I hope they get into whey protein too!
u/yavij87 1 15 hours ago

They would soon
u/rajmaa_chawal 1 1 day ago

I am more interested to know who buys milky mist products? There curd, paneer and even ice cream is so sub-standard
u/DA1725 1 1 day ago

Idk about their curd&paneer but I have seen their ice cream being sold out in some tier 2 cities in Odisha.
u/rajmaa_chawal 1 1 day ago

Thank you for the insights.
u/BabyNarad 1 1 day ago

Because it costs less. I tried it last week. Didn't like
u/manek101 1 1 day ago

In my experience their curd and paneer feels more "natural" compared to Amul counterparts. And the fact that Amul's shelf life is comparatively so much longer (4-10x) makes me doubt the naturalness
u/Southeast56 1 1 day ago

Not sure about the paneer but I have tried Milky Mist curd thrice and the taste felt off- like some synthetic taste feeling, never bought Milky mist curd again. I tried their ice cream and cheese- were decent
u/Tricky_Clock8263 OP 1 1 day ago

Amul paner she’ll life always high.. Compare mother dairy Or other dairy .. Either you make panner hand made .. Only she’ll life 15 day ..
u/ashmaroli 1 1 day ago

Their products are a sell out in my place. Infact, I personally prefer Milky Mist Curd, Butter and Ghee over Amul's counterparts. Perhaps you prefer those made from buffalo milk..?
u/Karthick_tiger 1 19 hours ago

Milky Mist products are better than Amul but prices are higher though.
u/Dineshkrish4 1 1 day ago

They sell toned milk...in tetra packs... The icecreams are good.. .I like them better than even Kwality walls...Arun...Amul...
u/BabyNarad 1 1 day ago

I didn't like their icecreams. Prefer Amul.
u/rat_tails_is_back 1 1 day ago

Some are very good. Some are very bad.
u/Ok-Analysis7 1 1 day ago

All ok till I read arun and amul. Arun and Amul are far superior than Milky mist
u/frankylampy 1 16 hours ago

Kwality Walls is mostly Frozen desserts, oil based. It's not labeled as ice-cream anymore. Tastes like oil if you like your ice-cream little bit soft akd melted.
u/Corporate-Monk 1 1 day ago

Current PE of 85 against industry average of 23 😀 You'll get it much cheaper post listing.
u/Right_Chemical 1 1 day ago

Came here to say this
u/NewWheelView 1 1 day ago

Thanks for sharing this
u/Tricky_Clock8263 OP 1 1 day ago

Yes very expensive.. Compare to other peer .. I think other company also focus sell more value add service …. I am not apply this ipo .. After market list .. Easily get discount.. any time bad market
u/OnlyFemboys777 1 1 day ago

Paisasmart guy said this only
u/nomnommish 1 1 day ago

PE is a meaningless number when a company is in high growth phase and there is strong evidence that the growth will be sustained for 3-5 years. For example, if a company is doubling in revenue and profits every year, a 80 PE is basically a 20PE two years down the line.
u/Right_Chemical 1 17 hours ago

How will that growth be sustained? Look at the debt to equity it's 80:20, free cash flow is non existent. They will need more funds quickly if they want to keep growing at 30% yoy. Compare that to parag milk foods, their debt to equity is 33:67. They have positive free cash flow. Profitability and revenue for both companies is similar, just historical growth rate for parag is 10-12%. I dont see the reason then for PE to be 80x for milky while 20x for parag.
u/nomnommish 1 14 hours ago

I was talking in general that PE is meaningless for high growth companies.
u/lucky_bhasker 1 19 hours ago

This 🤘
u/bias_guy412 1 17 hours ago

Thank you
u/dbz_goku06 1 1 day ago

Quality of milky mist product is good and they are selling and adding value added products at a great speed.
u/Sharp-Resolve 1 1 day ago

Milky Mist got me into buying yogurt, it used to start at around Rs. 25 if I remember and then went up from there
u/LiteTheesko 1 1 day ago

I'm a customer but not an investor at this valuation
u/fools_eye 1 1 day ago

Fucking hilarious people complaining about the products here like the only shit that touches that tongue is artisanal handmade stuff from Swiss farmers. If pretentious assholery generated money, India would have Wakanda level wealth.
u/Jazznoor 1 1 day ago

r/MurderedByWords
u/JoeAnthony 1 1 day ago

![gif](giphy|KafkEGb2fk3vMv4bne)
u/jokaarr 1 1 day ago

If pretentious assholery generated money, India would have Wakanda level wealth.
![gif](giphy|HJhFCmUIY8IKXJHJuw)
u/Simple-Paramedic8695 1 20 hours ago

![gif](giphy|HJebAz50KkJTye1Af7)
u/psydelicdaydreamer 1 18 hours ago

Angaar moot diye bhaiyya ji
u/GlitteringMortgage93 1 15 hours ago

lol
u/Balance-sheet- 1 18 hours ago

I aspire to speak like you
u/idliannasambar 1 17 hours ago

Shashi tharoor real id se aa
u/bias_guy412 1 17 hours ago

This comment has 56gm of protein. Thaaliyan.
u/DependentKnown1874 1 16 hours ago

Ikr, I actually thought their curd and Greek yogurt taste pretty good.
u/melloboi123 1 16 hours ago

HOLUP is his writing fire
u/GlitteringMortgage93 1 15 hours ago

hahahaha.....kya baat...jiyo
u/Confused_Boy69 1 15 hours ago

![gif](giphy|rzPa4QYHt3HzH49xWU)
u/ankushblue 1 13 hours ago

But Wakanda has vibranium, not wealth!
u/Dry-Vermicelli-2934 1 1 day ago

so shall i go for the ipo or not
u/aj_1101 1 1 day ago

I have been consuming their lactose free milk for over 3 months now. Don’t question my reality
u/cruxinng 1 1 day ago

Except their butter which is meh( also curd i am not sure- never had) all of their products are very very good for price in terms of taste. ( ofc health wise i'm not sure- depends on organic, feed quality, type etc etc of cows). Even their chocolates are very good for the price point.
u/rat_tails_is_back 1 1 day ago

I hail from region where this company started. They have lotta conditions from farmer before getting milk. The fat %, composition test must satisfy some threshold, one shouldn't use plastic milk container cane. The container should be washed properly etc etc. All the cotton eating cows milk would be rejected
u/cruxinng 1 21 hours ago

I wish they would bring up an A2 organic grass fed cow products line. This space us extremely disorganised and vv scarce in India with a genuine potential for scale.
u/fin-freedom-fighter 1 11 hours ago

fellow erode citizen?
u/Igarlicbread 1 1 day ago

Are these PR bots not paid enough to verify their narratives? https://preview.redd.it/lbrdd0pwasih1.png…
u/Tricky_Clock8263 OP 1 1 day ago

https://preview.redd.it/wkxwn28sbsih1.jpe… Bhai wo tetra pack ki baat nahi kar raha main. That is milk solids. Not a native form of milk. Here's their revenue split
u/Igarlicbread 1 1 day ago

We know what you are trying to pull with the AI slop post text. Quit it.
u/Old_Neighborhood4137 1 21 hours ago

The AI has given chutiyas the power to be chutiya but with more confidence.
u/bladewidth 1 11 hours ago

Aka Chufidence
u/hydiBiryani 1 1 day ago

How the fuck is liquid milk , "milk solids "
u/funkypants525 1 12 hours ago

The uht is the tetra Pak bro
u/neo203 1 1 day ago

Lmao
u/Silent_Soul_24 1 1 day ago

Copy & Pasted from LinkedIn https://www.linkedin.com/posts/biased-hum…
u/TheProvost 1 1 day ago

I saw the exact post on Linkedin, either lifted or PR bait. Verbatim.
u/Aggressive_Eagle_235 1 1 day ago

Seems like lot of the responses are PR, who the hell knows that in some region their products are sold out/sell out. Maybe people care that much I for one never cared much.
u/ThinkingIndian 1 1 day ago

Copy word by word from Twitter post. And I thought that post itself was written using chaggpt.
u/Tricky_Clock8263 OP 1 1 day ago

Bro talk on topic ..either you add anything .. People get help .. Troll very easy ..
u/ThinkingIndian 1 1 day ago

Lol. Troll? You copied someone else's work, straight up. And when pointed out, you are pointing fingers at me. If you have to copy, at least give credit. And this is the post you copied https://x.com/biased\_human/status/208700… https://preview.redd.it/0gguvndndsih1.jpe…
u/rat_tails_is_back 1 1 day ago

That itself is copy from LinkedIn. Some MBA guy assessment
u/jayvasantjv 1 1 day ago

"That's more than ₹2.4 crore per employee" - only if you can compare margins of IT companies with a fmcg dairy brand :)
u/Fun-Meeting-7646 1 1 day ago

Per employee calculation should not apply here Material cost revenue product mix etc needs to be ascertained.
u/secretholder1991 1 1 day ago

what about this milk? https://preview.redd.it/40k1ihzbhsih1.jpe…
u/Complex-Quality-3798 1 1 day ago

I love there products it was my go to in Singapore and even in India. I never had better paneer curd or ghee than them
u/rat_tails_is_back 1 1 day ago

I hail from region where this company started. They have lotta conditions from farmer before getting milk. The fat %, composition test must satisfy some threshold, one shouldn't use plastic milk container cane. The container should be washed properly etc etc. All the cotton eating cows milk would be rejected
u/Shoshin_Sam 1 20 hours ago

So, good?
u/Weekly-Barnacle-5231 1 1 day ago

why we hear these emotional kidney touching PR marketing type stories only before an IPO 🤦🏻‍♂️
u/n0c0de1 1 16 hours ago

lol ... why is kidney the preferred focus?
u/oundhakar 1 13 hours ago

It's a joke.
u/n0c0de1 1 13 hours ago

Nevermind .. I meant something else
u/Weekly-Barnacle-5231 1 1 day ago

nahi chahiye ye stories…i’ll buy when it falls 80% after one year of listing
u/farmerwalk 1 1 day ago

Looks like PR post and some PR comments. 80+ P/E ratio >>> 20ish industry average. Also, I don't trust their products somehow.
u/Carryon0458 1 1 day ago

Their PaneeR is good!
u/Cute_Anything_3209 1 17 hours ago

😂
u/shy_water_bottle 1 1 day ago

I just read the exactly same post on LinkedIn, and heard one reel on insta, reading a similar script. What is this some sort of paid marketing for over subscription? Or just a coincidence that 3 people have copied from the same source
u/Ok-Analysis7 1 1 day ago

Hey i am from TN. It's incredibly difficult to break the milk market here. As it is captured by local farmers, aavin (TN govt), aarogya (arun icecream). So, not selling milk is not a minus to them.
u/velaInsaan 1 1 day ago

Looks like their marketing budget has increased before ipo :) NoT eVeN a SiNgLe PaCkEt 🤡
u/Dizzy_Research8309 1 1 day ago

Indians who are very cost conscious, why do they value businesses at such exorbitant prices?
u/GrayMatterConsultant 1 23 hours ago

Milky mist sell milk. It is available everywhere including dmart and all online stores. You have started pitch with wrong statement.
u/WisdomExplorer_1 1 23 hours ago

Copy pasted from LinkedIn..
u/Creepy_Candidate_323 1 22 hours ago

Here is one thing people forgetting is that milk sold as milk has low shelf life vs their product maybe thats why milk misty sells milk products on the other hand their ice-cream are really good
u/FuckPigeons2025 1 21 hours ago

"Biggest shareholder of Milky Mist is not the founder himself. It's his wife who holds 49.48%. Founder holds 39.38% only." Lmao. What a statement to make.
u/Background-Front-925 1 19 hours ago

Look at the purchase books of most of these dairy companies there will be a huge volume purchase of potato or corn starch . Why a dairy company needs starch ?
u/lucky_bhasker 1 19 hours ago

What is the profit they make?? Revenue can be huge but margin/profit is the King. Mention that as the first point then we can say whether it's worth it or not. Rest all bill shut.
u/zigzigzigler 1 18 hours ago

Bruhh, do you just make shit up? Or did you pull all this out of your ass? https://preview.redd.it/k2pm3beokuih1.jpe…
u/Coolbiker32 1 16 hours ago

more likely to have come out of ass..as this is shit .
u/scrotiemcdinth3a55 1 18 hours ago

yha p comments dekh k to le lena chahiye ipo kyunki yha p bhuke, nange aur mental log hi bhare pde h.
u/Aggravating-Low-3460 1 17 hours ago

Milkymist does sell milk… https://preview.redd.it/rqzac26pvuih1.jpe…
u/Feisty_Ad_4511 1 17 hours ago

I have tried their low fat high protein paneer it was mentioning to be tight but it was also elastic i think they have done some dilution.
u/Lucky_Action_3 1 17 hours ago

Ai slop
u/Educational-Link5667 1 17 hours ago

Kehna kya chahte ho
u/Sillyintrovert15 1 16 hours ago

![gif](giphy|PCaiuNFApK9Acz3k8t)
u/[deleted] 1 15 hours ago

[removed] — already gone when the archive first saw it
u/k_m_lverma 1 15 hours ago

i like milky mist products tho . no bullshit . products feel and taste cleaner than the competitors .
u/Individual_Gas_897 1 14 hours ago

Should I apply for IPO or no?
u/Tricky_Clock8263 OP 1 14 hours ago

Big no .
u/sooperfrank 1 13 hours ago

They do..in Tetrapacks. What even