FY2024-25 was a landmark year for Mother Dairy, as the leading milk brand celebrated its 50th anniversary, closing the year with a growth of around 16% and a turnover of nearly Rs 17,500 crore, says its Managing Director Manish Bandlish. In an interaction with ET Digital, Bandlish shares that the company aims to surpass the Rs 20,000 crore revenue mark in FY26. He also reveals plans to introduce a wider range of protein-rich dairy products, including paneer, curd, and other offerings, to cater to evolving consumer needs.
Bandlish also discusses how the dairy industry is navigating the challenge of fluctuating raw milk prices. He shares his perspective on the recent entry of prominent southern dairy brands into the northern market and outlines Mother Dairy’s strategy to address this heightened competition and more. Edited excerpts:
ET: Amid rising demand, evolving consumer preferences, and an increasing focus on value-added products, where does India’s dairy sector currently stand?
MB: India’s organised dairy industry continues to evolve rapidly, driven by urbanisation, rising incomes, enhanced focus towards health and wellness, growing preference towards packaged products, experimentation, and growing exposure to global trends. We have come a long way from considering milk as just a daily staple; dairy today is seen as a source of nourishment, indulgence, and convenience, thus paving the way for the accelerated rise of value-added dairy products.
At Mother Dairy, we are actively responding to this trend. We have been consistently expanding our product portfolio with innovations that resonate with these emerging consumer needs. Every new product is a step towards delivering greater value, relevance, and delight to our consumers.
ET: How is India’s dairy industry tackling the challenge of fluctuating raw milk prices?
MB: Raw milk prices are subject to multiple factors and tend to vary across regions. Over the years, the Indian dairy industry has been instrumental in establishing structured procurement systems, strengthening farmer partnerships, and focusing on productivity improvements, ensuring greater supply stability and long-term resilience.
ET: In recent months, prominent southern dairy brands have expanded into the northern market. How is Mother Dairy positioning itself to tackle this intensifying competition?
MB: With a strong presence of over five decades, Mother Dairy has defined the dairy market of northern India, especially the NCR. It is one of the most trusted brands and a household name in the region. We believe that organised players will only help drive the growth of the dairy industry, and the spirit of competition should pave the way for benefiting consumers.
ET: India’s dairy sector faces a host of challenges—from inadequate quality feed and fodder to limited cold chain infrastructure leading to post-harvest losses and a fragmented supply chain, low per-animal productivity, and shortcomings in animal health and breeding programmes. How can these issues be addressed?
MB: The government is assigning the highest priority to the dairy sector, recognising its vital role in nutrition, rural livelihoods, and nation building. A testament to this focus is the creation of the Ministry of Fisheries, Animal Husbandry and Dairying and the Ministry of Cooperation in 2019 and 2021, respectively; both are aimed at driving growth and strengthening institutional frameworks, including the cooperative structures that form the backbone of India’s dairy ecosystem. The Department of Animal Husbandry and Dairying continues to roll out several targeted initiatives and schemes for the benefit of the sector— to improve animal health and breeding, ensure the availability of quality feed and fodder, develop modern infrastructure, and boost animal productivity.
The Ministry of Cooperation has also set in motion the White Revolution 2.0, with a renewed thrust on empowering dairy cooperatives, enabling infrastructure, and enhancing farmer incomes through modern, technology-driven systems.
In addition, the country’s apex dairy institution, National Dairy Development Board (NDDB), and its subsidiaries, including Mother Dairy, are driving impact across the value chain by supporting farmer welfare, improving animal nutrition & upkeep, strengthening procurement networks, ensuring product quality and accessibility, championing sustainable practices, and building future-ready systems. With sustained focus, collaborative execution, and long-term vision, India’s dairy sector is well-positioned to deliver inclusive growth.
ET: There has been a surge in demand for high-protein dairy offerings in the country. How is Mother Dairy responding to this nutrition-conscious market?
MB: Mother Dairy has recently forayed into the protein-rich segment with the launch of its Promilk, the everyday milk variant designed to top up the daily protein intake for every generation. The newly introduced poly pack milk variant offers 30% more protein—natural milk protein; 40 of grams protein per litre—and effortlessly integrates into daily routines, boosting protein intake without altering habits, while keeping the taste intact.
This launch marks a significant step for us towards democratising protein consumption and fostering a healthier future for all. As we strive to strengthen our protein-based portfolio, we will soon be introducing a diverse range of protein-rich dairy products, including paneer, curd, and more, for our consumers.
ET: What opportunities and gaps do you identify for India in the global dairy export market?
MB: India holds immense potential to emerge as the ‘dairy to the world’. Being the world’s largest milk producer, with a strong producer network and growing capabilities, the foundation is well in place. Our country can confidently step up as a reliable, high-quality dairy supplier to international markets while continuing to serve domestic needs.
ET: What is your roadmap for expansion in terms of new markets, capacity enhancement, and product launches? What are your expansion plans for the Safal brand?
MB: We are entering a phase of calibrated, Capex-driven expansion, with an earmarked outlay of around Rs 1,500 crore. This includes a new mega dairy processing facility in Nagpur. With an investment outlay of over Rs 500 crore, this upcoming state-of-the-art facility will manufacture poly pack milk, along with other value-added dairy products like ice cream, chaach, lassi, paneer, etc.
Read More: Get more News from Dairy Sector
In line with the evolving consumer preferences, we launched over 25 new products this summer alone, focused on offering safe, healthy, and convenient choices that resonate with today’s needs. The new launches included a range of premium kulfis, premium ice cream tubs, and youthful flavours, along with exciting additions to the fermented dairy products segment. Our geographic expansion continues in parallel, with a clear vision of building a national footprint. We are deepening our presence in the existing markets and entering new ones. We recently forayed into Rajasthan, and more regions are on the horizon.
On the horticulture front, our Safal brand is also poised for scale. We are in the process of setting up two new F&V processing facilities—one in the Vadodara district of Gujarat and the other in the Kuppam region of Andhra Pradesh—dedicated to the processing of fruits, vegetables, and frozen products. These strategically located facilities are expected to substantially enhance Safal’s processing capacity and bolster its presence in both domestic and international markets. In addition, we are expanding Safal’s product portfolio; we have introduced Safal Idli Dosa batter and Safal Coconut Water, with more products in the pipeline.
ET: What is your revenue target for Mother Dairy in the financial year 2025-26?
MB: FY2024-25 was a momentous year for us, as we celebrated 50 years since our inception. We concluded the year with an impressive growth of around 16%, achieving a turnover of around Rs. 17,500 crore. This strong performance is a testament to our strategic initiatives—expanding our national presence beyond NCR, strengthening our reach through new-age distribution channels, scaling up manufacturing capacities, and enriching our portfolio with exciting new product launches to engage and delight consumers. In FY26, we intend to continue the growth momentum, targeting our revenues to surpass the Rs 20,000-crore mark.
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