Milky Mist recorded a revenue of Rs 1436 crore in FY23. It’s expenses amounted to Rs 1372 crore with profits of Rs 28 crore in the same fiscal year. The operational revenue of the brand grew to Rs 1431 crore in FY23 as compared to the Rs 1011 crore it witnessed the previous financial year. The FMCG brand has been in the business since 1992.
Founded by Sathish Kumar T and Anitha Sathish Kumar, Milky Mist Dairy Food Private Limited is a dairy brand that sources milk from Southern Indian farmers and processes it in advanced facilities. It provides over 20 categories of dairy products including milk, yogurt, curd, paneer etc.
Previously in FY22, the Tamil Nadu based company recorded a revenue of Rs 1015 crore with expenses amounting to Rs 959 crore and profits of Rs 32 crore. The same year it spent over 60% of its total expense on cost of materials.
The dairy brand has raised a total of Rs 69 crore in over 2 rounds of funding. Its latest round was a debt financing round held on June 2022. It raised an undisclosed amount from Grand Anicut.
While co-founders Anitha and Sathish hold the largest shares of the company, investor Anicut holds close to 2%.
Milky Mist competes against the likes of Am Needs, Country Delight, MilkBasket, and Farmery.