Madison secured the media mandate for Parag Milk Foods, following the dairy company's Request for Proposal (RFP) issued in April this year for its media planning and buying account. Madison will handle media responsibilities for all of Parag Milk Foods' sub-brands.
Sources estimate the account size to be between Rs 100 and 120 crore. Madison's mandate covers the full product portfolio including brands such as Gowardhan, Go, Pride of Cows and Avvatar. Recently, the company broadened its health and fitness offerings with the introduction of Avvatar Performance Whey Protein, a product made from cow’s milk.
In the past, Parag Milk Foods worked with several agencies, including GroupM's m/SIX, Gozoop, Carat, Scion and J Walter Thompson India (now VML India), among others.
For the fiscal year 2023-24, Parag Milk Foods (PMFL) posted an 8.5 per cent revenue growth, reaching Rs 3,139 crore, fuelled by strong brand equity and competitive market positioning. The company reported a gross profit of Rs 749 crore with a margin of 23.9 per cent compared to Rs 569 crore (19.7 per cent margin) in the previous year. Profit after tax rose 70 per cent to Rs 91 crore, up from Rs 53 crore. EBITDA stood at Rs 222 crore with a margin of 7.1 per cent.
Parag’s dairy products are available globally and the brand has a presence in the USA, Philippines, Mauritius, Australia, Korea, China and Singapore.
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