Shares of Parag Milk Foods Ltd. surged by 8 percent in Thursday's trade, hitting a high of Rs 274.90 on the BSE. This significant increase followed the company's announcement of its expansion into the fast-growing snacking category with the introduction of Avvatar Popped Chips.
This strategic move signifies the next phase in Parag Milk Foods' evolution, shifting from a predominantly dairy-led company to a broader nutrition and new-age food business. The launch strengthens the company's ambition to make protein more accessible across various formats, occasions, and consumer needs.
Introducing Avvatar Popped Chips
The newly launched Avvatar Popped Chips are non-fried and boast 10 grams of protein per 30-gram pack. Priced at Rs 60, these chips contain no added sugar, no palm oil, and no preservatives, catering to health-conscious consumers. They are available in two flavors: Magic Masala and Pudina.
Executive Director Akshali Shah highlighted the importance of this launch, stating, "The launch builds on Avvatar’s growing portfolio of protein powders, ready-to-drink beverages, and bars, with snacking emerging as the latest avenue to expand protein consumption." Shah further explained that by extending protein beyond traditional active nutrition into a familiar snacking format, the company aims to address a wider range of nutrition needs.
Strategic Shift to a Holistic Protein Ecosystem
Akshali Shah emphasized that entering the snacking category is not merely an portfolio extension but a strategic step towards creating a larger, more contemporary food and nutrition business with protein at its core. "We see a significant opportunity to take our expertise in dairy and protein and build it into categories that are increasingly relevant to the way consumers eat today," she added.
The products are currently available through multiple channels, including the Avvatar website, Quick Commerce platforms, Vending Machines, and both General and Modern Trade outlets, ensuring wide accessibility for consumers.