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No increase in milk consumption level; expect market to accept price hike: Parag Milk Foods

Updated : January 13, 2021 02:33 PM IST

Devendra Shah, Chairman of Parag Milk Food, said that the company was under pressure in the last six months as the consumption of milk was low because of the lockdown situation. The business is slowly returning to usual levels even though there is no increase in the consumption level, he said.

On the issue of price increase, he said, "In the last 15-20 days, we increased all our retail prices and expect market to accept that. There is nothing that we see how the milk price will impact our procurement."

On the question of debt, Shah claimed, "We have around Rs 300 crore of debt on the books and this is the working capital only. We don't have long-term debt."

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