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Mumbai-based homegrown foods company Parag Milk Foods Ltd has reportedly floated an RFP (Request for Proposal) for its media planning and buying account. The account size is approximately between Rs125 crore and  Rs 140 crore, industry sources told Storyboard18.  


This RFP is for ATL marketing only and does not include digital buying or selling. 


Parag has had multiple agencies on board in the past. Some of them include the likes of GroupM’s m/SIX, Gozoop, Carat, Scion, J Walter Thompson India (now VML India) and others. 


Overall, Parag Milk Foods Ltd has been witnessing strong growth. Quarterly net profit for the brand stood at Rs. 34.17 crore in December 2023 up from Rs. 9.26 crore in December 2022. Their EBITDA stood at Rs. 68.65 crore in December 2023 up from Rs. 38.04 crore in December 2022.


The net sales also saw growth. It grew from Rs. 735.89 crore in December 2022 to Rs 800.84 crore in December 2023.


Last year,Parag Milk Foods gathered a lot of attention with the company's shares seeing significant gains. Between last year and now the stock has seen over 120 percent gains. 


The company has also seen some top level hirings in the recent past. This includes the appointment of ex Amul and ex Lactalis India executive, Rahul Kumar Srivastava as the chief operating officer (COO) and a former Reliance Brands executive Sumit Jain as President of Finance. 


Parag’s milk products have a global presence as the brand is present across multiple countries like the USA, Philippines, Mauritius, Australia, Korea, China and Singapore. 

EXCLUSIVE: Parag Milk Food’s Rs 125-140 crore media business up for grabs?

The advertising industry in the country clocked 8.6 percent growth in 2023, reaching a market size of Rs 93,166 crore and the FMCG (fast moving consumer goods) category held the largest share as contributors. According to a recent dentsu report, the category saw a 34 percent growth contributing Rs 31,428 crore to the total AdEx of the year. 

This was followed by e-commerce contributing 14 percent at Rs 12,803 crore spends, consumer durables at 6 percent with Rs5,540 crore as spends and automotive at Rs 5,223 crore spends contributing also contributing 6 percent to the AdEx.  “Historically, approximately one-third of the annual spends in the Indian advertising industry has been attributed to the FMCG category. In 2023, FMCG category witnessed an ad spends growth of 22.6 percent over 2022.

During the same timeframe, notable expansion was observed in the travel and tourism sector, recording a growth of 73.4 percent over 2022, followed by government advertisements with a 62.2 percent increase, and real estate experiencing a growth of 41.7 percent over 2022,” said the report.The travel and tourism category has seen a huge increase in the post pandemic era.

In fact, the sector has seen the highest growth. According to the report, this surge can be attributed to the expanding urbanization and the increasing income of the middle-class, resulting in a growing demand for multi-modal transportation services as travellers gradually return to their pre-pandemic travel routines. 

“To bolster inbound tourism, the government launched the ‘Visit India 2023’ campaign and provided unprecedented support for promoting sustainable tourism. Additionally, there has been a focus on technological advancements to develop and transform the air, road, rail, and waterways sectors, aiming for more efficient, faster, and safer modes of transportation,” the report said. 

Another category witnessing rapid growth in advertising spends is the Government and social organisations, especially in the wake of Assembly and General elections. In 2023, Government advertising spends have grown by 62.2 percent over 2022. Similarly, the housing and real estate segments are undergoing remarkable growth. 

The sector has seen unprecedented expansion due to the rapid growth of the middle-class population, urbanisation, and increased transparency through government incentives and policies. As per the report, advertising spends in real estate grew by 41.7 percent in 2023 compared to 2022.

FMCG stood out as highest spender in 2023 with Rs 31,428 crore ad spends: Reports

<span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start">﻿</span>Sudhir Sitapati joined the homegrown FMCG giant Godrej Consumer Products as MD and CEO last year when the world was beginning to open up in a post-pandemic era. 

In a candid interview with Storyboard18's editor Delshad Irani, Sitapati tells us how he articulated his vision for GCPL and his approach towards marketing and brand building. Sitapati also shares how Godrej is democratising categories, his advice for young marketers and leaders, and what he thinks is the secret to creating brands and businesses that are built to last.<span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start">﻿</span>

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