Parag Milk Foods logo

Parag Milk Foods shareholders and shareholding pattern

NSE: PARAGMILKBSE: 539889Food ProductsSmall Cap

Last close ₹241.80down ₹6.60 (2.66%)BSE ₹241.40

Share price at the NSE close on 23 Oct 2026. Previous close ₹248.40.

52-week range of traded prices to 23 Oct 2026
₹177.84Low, 30 Mar 2026₹376.95High, 13 Nov 2025
Market cap
₹3,037 Cr1,001st largest listed
P/E
23.5
P/B
2.4
Dividend yield
0.45%
ROE
11.4%
ROCE
10.8%
Debt to equity
0.43
Volume, NSE
16,38,23941.8% delivered

Who owns Parag Milk Foods, filing by filing

Per cent of the company's shares. The last ten years of filings, from Dec 2016; the latest is the filing for Sep 2026.

Sep 2026 filing

  • Promoters40.49%
  • Foreign institutions7.59%
  • Indian institutions2.87%
  • Individuals and others48.67%
  • Employee trusts0.37%

Shareholding pattern, per cent, from Sep 2022

  • Promoters
  • Foreign institutions
  • Indian institutions
  • Individuals and others
  • Employee trusts
Per centDec 2016Filed 10 JanMar 2017Filed 17 AprJun 2017Filed 20 JulSep 2017Filed 10 OctDec 2017Filed 16 JanMar 2018Filed 16 AprJun 2018Filed 26 JulSep 2018Filed 19 OctDec 2018Filed 18 JanMar 2019Filed 11 AprJun 2019Filed 15 JulSep 2019Filed 24 OctDec 2019Filed 17 JanMar 2020Filed 16 AprJun 2020Filed 16 JulSep 2020Filed 12 OctDec 2020Filed 21 JanMar 2021Filed 14 AprJun 2021Filed 19 JulSep 2021Filed 13 OctDec 2021Filed 18 JanMar 2022Filed 15 AprJun 2022Filed 14 JulSep 2022Filed 20 OctDec 2022Filed 12 JanMar 2023Filed 16 AprJun 2023Filed 17 JulSep 2023Filed 16 OctDec 2023Filed 12 JanMar 2024Filed 8 AprJun 2024Filed 10 JulSep 2024Filed 17 OctDec 2024Filed 13 JanMar 2025Filed 18 AprJun 2025Filed 21 JulSep 2025Filed 16 OctDec 2025Filed 13 JanMar 2026Filed 17 AprJun 2026Filed 15 JulSep 2026Filed 15 Oct
47.48%47.48%48.20%48.70%48.71%48.71%45.96%45.96%45.96%45.96%45.96%45.96%46.20%46.20%46.20%46.20%46.20%46.20%40.75%40.75%40.75%40.75%40.75%36.19%41.63%41.63%41.63%41.63%41.63%42.61%42.61%42.61%42.61%42.61%42.61%42.61%40.65%40.65%40.49%40.49%
Indian promoters47.48%47.48%48.20%48.70%48.71%48.71%45.96%45.96%45.96%45.96%45.96%45.96%46.20%46.20%46.20%46.20%46.20%46.20%40.75%40.75%40.75%40.75%40.75%36.19%41.63%41.63%41.63%41.63%41.63%42.61%42.61%42.61%42.61%42.61%42.61%42.61%40.65%40.65%40.49%40.49%
52.25%52.25%51.53%51.03%51.02%51.02%53.77%53.83%53.83%53.83%53.83%53.83%53.59%53.59%53.59%53.59%53.59%53.59%59.07%59.07%59.07%59.07%59.07%63.64%58.22%58.22%58.22%58.22%58.22%57.25%57.25%57.25%57.25%57.25%57.25%57.25%59.26%59.27%59.03%59.13%
Employee trusts0.27%0.27%0.27%0.27%0.27%0.27%0.27%0.21%0.21%0.21%0.21%0.21%0.21%0.21%0.21%0.21%0.21%0.21%0.18%0.18%0.18%0.18%0.18%0.16%0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.14%0.14%0.14%0.09%0.08%0.47%0.37%
Promoter shares pledgedShare of the promoters' own shares0.00%0.00%15.98%15.82%15.81%15.81%16.76%14.56%14.56%21.73%21.73%35.87%35.69%48.10%24.81%12.72%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Shares in issue8,41,14,5828,41,14,5828,41,14,5828,41,14,5828,41,14,5828,41,14,5828,41,14,5828,41,14,5828,41,14,5828,41,14,5828,41,14,5828,41,14,5828,41,14,5828,41,14,5828,41,14,5828,41,14,5828,41,14,5828,41,14,5829,53,75,8419,53,75,8419,53,75,8419,53,75,8419,53,75,84110,73,75,84111,73,75,84111,73,75,84111,73,75,84111,73,75,84111,73,75,84111,93,75,84111,93,75,84111,93,75,84111,93,75,84111,93,75,84111,93,75,84111,93,75,84112,51,09,55412,51,09,55412,56,09,55412,56,09,554
Shares locked in4,11,22,6274,11,22,6271,68,22,9801,68,22,9801,68,22,9801,68,22,9801,68,22,9801,68,22,9801,68,22,9801,68,22,980––––––––3,53,34,6863,53,34,6863,53,34,6861,12,61,25901,20,00,0002,20,00,0001,00,00,0001,00,00,0001,00,00,0001,00,00,0001,20,00,00020,00,00020,00,00020,00,00020,00,0003,13,66,2882,93,66,2882,93,66,288–––
Promoters' shares locked in3,99,41,1893,99,41,1891,68,22,9801,68,22,9801,68,22,9801,68,22,9801,68,22,9801,68,22,9801,68,22,9801,68,22,980––––––––2,40,73,4272,40,73,4272,40,73,4270001,00,00,0001,00,00,0001,00,00,0001,00,00,0001,00,00,0001,20,00,00020,00,00020,00,00020,00,00020,00,0003,13,66,2882,93,66,2882,93,66,288–––
Shares underlying depositary receipts–––––––––––––––––––000000002,3002,500000000–0–––
Filings before Sep 2022 are on an older form, which did not split institutions into foreign and Indian and grouped some holders differently, so those columns show only the lines both forms state alike. Pledged is the share of the promoters' own shares given to lenders as security. A dash is a line the filing did not state. “Under 0.01%” is a holding of shares too small to show at two decimals.

Number of Parag Milk Foods shareholders

Shareholders on the company's register in each filing.

Shareholders, filing by filing

ShareholdersDec 2016Filed 10 JanMar 2017Filed 17 AprJun 2017Filed 20 JulSep 2017Filed 10 OctDec 2017Filed 16 JanMar 2018Filed 16 AprJun 2018Filed 26 JulSep 2018Filed 19 OctDec 2018Filed 18 JanMar 2019Filed 11 AprJun 2019Filed 15 JulSep 2019Filed 24 OctDec 2019Filed 17 JanMar 2020Filed 16 AprJun 2020Filed 16 JulSep 2020Filed 12 OctDec 2020Filed 21 JanMar 2021Filed 14 AprJun 2021Filed 19 JulSep 2021Filed 13 OctDec 2021Filed 18 JanMar 2022Filed 15 AprJun 2022Filed 14 JulSep 2022Filed 20 OctDec 2022Filed 12 JanMar 2023Filed 16 AprJun 2023Filed 17 JulSep 2023Filed 16 OctDec 2023Filed 12 JanMar 2024Filed 8 AprJun 2024Filed 10 JulSep 2024Filed 17 OctDec 2024Filed 13 JanMar 2025Filed 18 AprJun 2025Filed 21 JulSep 2025Filed 16 OctDec 2025Filed 13 JanMar 2026Filed 17 AprJun 2026Filed 15 JulSep 2026Filed 15 Oct
All shareholders11,42522,15822,35522,95528,84331,09730,81139,79144,89546,87947,78748,95247,55747,71851,47257,28854,54753,06551,83353,81156,09365,04467,71261,41360,77062,05758,60062,70967,46599,7841,08,9411,09,4311,11,2471,10,4281,02,55288,01286,56988,58888,95189,477
11111111111110101010101010101010101010101010101111111111111111111111111112121212
Indian promoters11111111111110101010101010101010101010101010101111111111111111111111111112121212
11,41322,14622,34322,94328,83131,08530,80039,78044,88446,86847,77648,94147,54647,70751,46157,27754,53653,05451,82253,80056,08265,03367,70161,40160,75862,04558,58862,69567,45099,7721,08,9291,09,4191,11,2351,10,4161,02,54088,00086,55688,57588,93889,464
Employee trusts1111111111111111111111111111111111111111
Filings before Sep 2022 are on an older form, which did not split institutions into foreign and Indian and grouped some holders differently, so those columns show only the lines both forms state alike. A dash is a line the filing did not state.

Parag Milk Foods promoters

Promoters are the founders, families and companies that control the company, as its filings name them. Every member of the promoter group holding shares in the filing for Sep 2026; the largest is DEVENDRA PRAKASH SHAH, 16.09%. The filing names 21 more members with no shares.Promoter buying and selling

Holder
DEVENDRA PRAKASH SHAHIndividuals and Hindu undivided families16.09%2,02,06,400
NETRA PREETAM SHAHIndividuals and Hindu undivided families11.04%1,38,67,027
PRITAM PRAKASH SHAHIndividuals and Hindu undivided families7.29%91,59,888
POOJAN DEVENDRA SHAHIndividuals and Hindu undivided families2.62%32,95,000
SHAH PRITI DEVENDRAIndividuals and Hindu undivided families1.77%22,22,820
AKSHALI DEVENDRA SHAHIndividuals and Hindu undivided families1.59%20,00,000
LATE PARAG PRAKASH SHAHIndividuals and Hindu undivided families0.08%1,00,000
SHABDALI DESAIIndividuals and Hindu undivided families0.01%10,000
SHAH STAVAN PRITAMIndividuals and Hindu undivided families0.00%100
NAYAN SAMEER SHAHIndividuals and Hindu undivided families0.00%24
LATE RAJANI PRAKASH SHAHIndividuals and Hindu undivided families0.00%100
LATE PRAKASH BABULAL SHAHIndividuals and Hindu undivided families0.00%100
No promoter shares are reported as pledged.

Largest public holders of Parag Milk Foods, filing by filing

Per cent, on the same shares as the split above.

HolderDec 2016Filed 10 JanMar 2017Filed 17 AprJun 2017Filed 20 JulSep 2017Filed 10 OctDec 2017Filed 16 JanMar 2018Filed 16 AprJun 2018Filed 26 JulSep 2018Filed 19 OctDec 2018Filed 18 JanMar 2019Filed 11 AprJun 2019Filed 15 JulSep 2019Filed 24 OctDec 2019Filed 17 JanMar 2020Filed 16 AprJun 2020Filed 16 JulSep 2020Filed 12 OctDec 2020Filed 21 JanMar 2021Filed 14 AprJun 2021Filed 19 JulSep 2021Filed 13 OctDec 2021Filed 18 JanMar 2022Filed 15 AprJun 2022Filed 14 JulSep 2022Filed 20 OctDec 2022Filed 12 JanMar 2023Filed 16 AprJun 2023Filed 17 JulSep 2023Filed 16 OctDec 2023Filed 12 JanMar 2024Filed 8 AprJun 2024Filed 10 JulSep 2024Filed 17 OctDec 2024Filed 13 JanMar 2025Filed 18 AprJun 2025Filed 21 JulSep 2025Filed 16 OctDec 2025Filed 13 JanMar 2026Filed 17 AprJun 2026Filed 15 JulSep 2026Filed 15 Oct
INTERNATIONAL FINANCE CORPORATIONForeign companies––––––––––––––––––7.08%7.08%7.08%7.08%7.08%6.29%5.76%5.76%5.76%5.76%5.76%3.52%1.24%–––––4.58%4.58%4.56%4.56%
GB MU-MR OP FU OP-ED PCC PL-GBC INDIA OPPORTUNITYForeign portfolio investors, category I–––––––––––––––––––––––––––––––––––––––3.39%
PEANENCE COMMERCIAL PVT LIMITEDCompanies––––––––––––––––––––––––––3.46%3.39%2.96%2.90%2.88%2.88%4.96%4.91%4.87%4.87%4.65%4.17%4.16%3.25%
INDIA INSIGHT VALUE FUNDForeign portfolio investors, category I–––––––––––––––1.89%2.30%2.47%2.40%2.40%2.44%2.44%2.44%2.17%1.93%1.93%1.79%1.76%1.76%1.73%1.73%1.73%1.73%1.76%1.87%1.87%1.78%1.85%1.84%1.84%
SIXTH SENSE INDIA OPPORTUNITIES IIIAlternative investment funds––––––––––––––––––2.83%2.83%2.83%2.83%2.83%2.52%2.30%2.30%5.67%5.92%6.14%6.84%6.84%6.84%6.84%6.84%6.84%5.14%4.58%4.58%4.56%1.48%
YASH SHARES AND STOCK PRIVATE LIMITEDCompanies–––––––––––––––––––––––––––––––––––––––1.12%
ENIGMA SMALL OPPORTUNITIES FUNDAlternative investment funds–––––––––––––––––––––––––––––––––––––––1.11%
MULTITUDE GROWTH FUNDS LIMITEDForeign portfolio investors, category I––––––––––––––––––––––––––––––––4.55%4.55%4.55%4.22%3.96%3.43%3.40%–
VLS FINANCE LTDCompanies–––––––––––––––––––––––1.18%1.58%1.71%2.98%3.42%3.15%2.21%1.89%1.68%1.40%1.40%––––––
AG DYNAMIC FUNDS LIMITEDForeign portfolio investors, category I–––––––––––––––––––––––10.24%9.39%6.30%4.63%4.63%4.63%4.55%4.55%4.55%––––––––
NORTH STAR OPPORTUNITIES FUND VCC-BULL VALUE INCORForeign portfolio investors, category I–––––––––––––––––––––––––––––––1.48%––––––––
NEXPACT LIMITEDForeign portfolio investors, category II–––––––––––––––––––––––––1.43%1.43%1.43%1.43%1.40%1.40%1.39%––––––––
SIXTH SENSE INDIA OPPORTUNITIES IIAlternative investment funds––––––––––––––––––1.89%1.89%1.89%1.89%1.89%1.68%1.54%1.54%1.54%1.54%1.54%1.51%1.51%–––––––––
VANAJA SUNDAR IYERResident individuals, over ₹2 lakh at face value––––––––––––––––––––––––––––1.00%–––––––––––
AKASH BHANSHALIResident individuals, over ₹2 lakh at face value–––––––––––––––1.47%1.49%1.49%1.31%1.31%1.31%1.31%1.31%1.16%1.06%–1.06%–––––––––––––
IDFC TRUSTEE CO. LTD A/C IDFC INFRASTRUCTURE FUNDCompanies–6.03%6.03%6.03%6.03%6.03%5.99%5.99%5.99%5.99%5.99%5.99%5.99%5.99%5.99%5.99%5.99%5.99%4.69%3.50%3.29%3.29%3.29%2.90%2.06%2.06%––––––––––––––
ORBIS FINANCIAL CORPORATION LIMITEDOther non-institutions–––––––––––––––––––––––––1.66%––––––––––––––
AADI FINANCIAL ADVISORS LLPCompanies––1.02%1.02%1.02%1.02%–––––––2.44%2.44%2.44%1.68%1.44%1.27%1.27%1.27%1.27%1.27%1.13%1.03%1.03%––––––––––––––
MUKUL MAHAVIR AGRAWALResident individuals, over ₹2 lakh at face value––––––––––––––––––––2.10%2.10%2.06%1.83%1.67%–––––––––––––––
BLUE DAIMOND PROPERTIES PVT LTDOther non-institutions––––––––––––1.58%3.77%3.77%3.77%3.57%1.59%1.40%1.40%1.40%1.40%1.40%–––––––––––––––––
LATA BHANSHALIResident individuals, over ₹2 lakh at face value–––––––––––––––1.13%1.19%1.19%1.05%1.05%1.05%1.05%1.05%–––––––––––––––––
SOMERSET EMERGING MARKETS SMALL CAP FUND LLCInstitutions Foreign Portfolio Investor––––––––––––2.69%2.69%2.69%2.69%2.65%2.45%2.45%1.25%1.26%1.15%––––––––––––––––––
MUKUL AGRAWALResident individuals, over ₹2 lakh at face value–––––––––––––––1.78%2.38%2.38%2.10%2.10%––––––––––––––––––––
AMAL N PARIKHOther non-institutions––––––––––––––––1.07%–––––––––––––––––––––––
STICHTING DEPOSITARY APG EMERGING MARKETS EQUITY PInstitutions Foreign Portfolio Investor–––––––––1.34%5.78%7.29%7.29%7.29%5.50%–––––––––––––––––––––––––
GOLDMAN SACHS INDIA LIMITEDInstitutions Foreign Portfolio Investor2.92%2.92%2.92%2.92%2.92%2.92%2.92%2.92%2.92%2.92%2.38%2.38%2.50%2.24%2.24%–––––––––––––––––––––––––
MUKUL MAHAVIRPRASAD AGRAWALResident individuals, over ₹2 lakh at face value––––––1.19%1.19%1.19%1.19%1.19%1.19%1.19%1.19%1.19%–––––––––––––––––––––––––
GOVERNMENT PENSION FUND GLOBALInstitutions Foreign Portfolio Investor2.66%2.66%2.66%2.66%2.66%2.66%2.66%2.97%2.97%2.97%2.97%2.97%2.97%–––––––––––––––––––––––––––
PRAZIM TRADING AND INVESTMENT CO. PVT. LTD.Other non-institutions––––––––––3.74%1.00%––––––––––––––––––––––––––––
PIVOTAL BUSINESS MANAGERS LLPOther non-institutions–––––––––––1.00%––––––––––––––––––––––––––––
NEW HORIZON OPPORTUNITIES MASTER FUNDInstitutions Foreign Portfolio Investor3.01%3.01%2.91%2.91%2.91%2.67%2.14%2.14%1.80%1.79%1.79%–––––––––––––––––––––––––––––
ASHISH KACHOLIAResident individuals, over ₹2 lakh at face value1.88%2.02%2.02%1.73%1.73%1.73%1.73%1.49%1.49%–––––––––––––––––––––––––––––––
NOMURA INDIA INVESTMENT FUND MOTHER FUNDInstitutions Foreign Portfolio Investor3.50%3.50%3.50%2.43%1.64%1.64%1.35%1.35%1.35%–––––––––––––––––––––––––––––––
IDFC SPICE FUNDVenture capital funds2.87%2.87%2.87%2.87%2.51%2.17%1.87%–––––––––––––––––––––––––––––––––
WHITE OAK INDIA EQUITY FUNDAlternative investment funds––––––1.42%–––––––––––––––––––––––––––––––––
MADHULIKA AGARWALResident individuals, over ₹2 lakh at face value1.14%1.14%1.14%1.14%1.14%1.14%1.14%–––––––––––––––––––––––––––––––––
INFINA FINANCE PRIVATE LTDNon-bank lenders registered with RBI––––1.06%1.14%1.14%–––––––––––––––––––––––––––––––––
INDIA ACORN FUND LTDInstitutions Foreign Portfolio Investor–––––1.01%––––––––––––––––––––––––––––––––––
COPTHALL MAURITIUS INVESTMENT LIMITEDInstitutions Foreign Portfolio Investor1.21%1.29%1.05%1.05%1.04%–––––––––––––––––––––––––––––––––––
ABU DHABI INVESTMENT AUTHORITY - BEHAVEInstitutions Foreign Portfolio Investor2.10%2.10%2.10%2.10%––––––––––––––––––––––––––––––––––––
A filing names every holder above one per cent, in the company's own words: an insurer's holding can carry one of its funds' names. A dash is a filing that did not name the holder, which includes holding under one per cent. The 40 holders most recently named are shown, of 42 holders the filings name.