At just 16, Sathish Kumar T. stepped into his family’s struggling milk business in Erode, Tamil Nadu. What began with a small milk operation and a 10-kg batch of homemade paneer eventually became Milky Mist Dairy Food, now a major value-added dairy brand with a market capitalisation of over Rs 12,700 crore after its stock-market debut.
Sathish Kumar T. left school at 16 to help run his family’s struggling milk distribution business in Erode. The operation transported nearly 3,000 litres of milk daily to Bengaluru but failed to generate sustainable returns. (Image: File Photo)
Kumar noticed a customer buying their milk, converting it into paneer and supplying it to hotels. The idea sparked a major shift: instead of selling only liquid milk, the family could create higher-value dairy products and improve profitability. (Image: File Photo)
Without Google or YouTube to guide him, Kumar learned commercial paneer-making through repeated experiments. After several unsuccessful attempts, he developed a workable process. In 1993, he took his first 10-kg paneer batch to Bengaluru. (Image: File Photo)
The first paneer batches were sold to hotels and restaurants through dealers in Bengaluru. By 1995, the business was reportedly selling around 50 to 100 kg of paneer daily, giving Kumar confidence to move further into value-added dairy. (Image: File Photo)
The company eventually moved away from liquid milk and focused on processed dairy products. Its portfolio expanded from paneer to curd, butter, ghee, cheese, yoghurt, ice cream and other products. (Image: File Photo)
Kumar entered the retail market in 1997 and created the Milky Mist brand. According to the company’s history, MMD Dairy was formed as a partnership in 1999, renamed Milky Mist Dairy Food in 2006 and became a public limited company in 2025. (Image: File Photo)
Milky Mist’s reported revenue rose from Rs 1,826.86 crore in 2024 to Rs 2,354.79 crore in 2025 and Rs 3,145.01 crore in 2026. Its profit after tax also climbed from Rs 19.44 crore to Rs 127.01 crore during the same period. (Image: File Photo)
Milky Mist shares debuted at Rs 165 on both NSE and BSE, an 17.86% premium over the Rs 140 upper issue price. The Rs 1,553-crore IPO was subscribed 56.12 times, taking the company’s post-listing market capitalisation to Rs 12,702.42 crore. (Image: File Photo)
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