5398892026-11-045398892026-11-042026-11-045398892026-11-042026-11-04AmalgamatedEntityDomain15398892026-11-04AmalgamatedEntityDomain15398892026-11-042026-11-04AmalgamatedEntityDomain25398892026-11-04AmalgamatedEntityDomain2xbrli:purexbrli:shares539889 PARAG MILK FOODS LIMITEDPARAGMILKNOTLISTEDINE883N01014NewAmalgamation/ Mergertrue2026-11-0320:25:002026-11-04Bhagyalaxmi Dairy Farms Private LimitedTransferorSubsidiaryAs at / for half year ended September 30, 2026 (in INR)- Total assets : 315.21 Crore, Net worth : 61.38 Crore, Turnover : 107.25 Crore7790372100007790372100000000Parag Milk Foods LimitedTransfereeListed Entity (self)As at / for half year ended September 30, 2026 (in INR) - Total assets : 2,421.53 Crore, Net worth : 1,352.25 Crore, Turnover : 2,135.89 Crore508614590.4049742770800.59144710150.00371256095541508614590.4049742770800.59144710150.00371256095541true2026-11-03falsetrueTransferor Company is the Wholly Owned Subsidiary of Transferee CompanytrueBhagyalaxmi is, inter-alia, engaged in the business of breeding, raising, using and rearing milch animals, dairy farming and manufacturing, selling, distributing, marketing milk and milk products including the brand name ‘Pride of Cows’. Parag is, inter-alia, engaged in the business of processing of milk and manufacture of various value-added products namely Cheese, Ghee (clarified butter), Fresh cream, Milk powder, Flavoured milk, Lassi (yogurt based drink), Curd, Mithai (Indian sweets), whey & whey protein, whey beverages, etc., which are marketed under its registered brand names including ‘Gowardhan’, ‘Go’ and ‘Avvatar’, etc.The Transferor Company is a wholly owned subsidiary of the Transferee Company, and both companies are engaged in the business of dairy manufacturing and processing, sale and marketing of milk and milk products. The proposed amalgamation is intended to simplify the group structure and consolidate the business of the Transferor Company with its holding company. The rationale for, and the benefits of, the amalgamation of the Transferor Company with the Transferee Company, are as follows: (i) consolidation of the business, leading to synergies of operations and resulting in the expansion and long-term sustainable growth, which will enhance value for various stakeholders of the Transferee Company; (ii) the Transferee Company would have direct access to capital, thereby creating a unified larger entity with greater financial strength and flexibility; (iii) pooling of knowledge and expertise; (iv) to achieve optimal and efficient utilization of capital, enhance operational and management efficiencies; and (v) rationalisation and simplification of structure by reducing the number of legal entities and reduction in the multiplicity of existing legal/ regulatory compliances and costs. Accordingly, the Scheme is in the interest of the Parties involved and their respective stakeholders.OthersBhagyalaxmi is a wholly owned subsidiary of the Company. Upon the Scheme coming into effect, the entire share capital of Bhagyalaxmi shall stand cancelled and no shares shall be issued by the Company as consideration for the amalgamation.Pursuant to the Scheme, shareholding pattern of the Company pre and post the Scheme will remain the same. Post the Scheme becoming effective, the Transferor Company shall be dissolved without being wound up.Yes, both the companies involved in the transaction are related parties to each other. In terms of Regulation 23(5)(b) of the Listing Regulations, any transaction entered into between a holding company and its wholly owned subsidiary, whose accounts are consolidated with such holding company and placed before the shareholders at the general meeting for approval, is exempted from the provisions of Regulation 23 of the Listing Regulations. Further, in terms of General Circular No. 30/2014 dated July 17, 2014, issued by the Ministry of Corporate Affairs, transactions arising out of compromises, arrangements and amalgamations under the Companies Act, 2013 will not attract the requirements of Section 188 of the Companies Act, 2013. Since the Transferor Company is wholly owned subsidiary of the Transferee Company, upon the Scheme becoming effective, the shares held by the Transferee Company in the Transferor Company will stand cancelled and no consideration shall be issued by the Transferee Company.