Mother Dairy achieved a 17 per cent growth in its turnover to Rs 20,300 crore last fiscal on better demand for its milk products and cooking oils, its new MD Jayateertha Chary on Wednesday said, adding that the company has set a 20 per cent revenue growth target for 2026-27.

Mother Dairy, one of the leading milk suppliers in the Delhi-NCR, is not contemplating any increase in milk prices despite a rise in input costs, he said.

“Our turnover grew 17 per cent to Rs 20,300 crore during 2025-26. In the last five years, the company’s turnover has doubled to cross the Rs 20,000 crore milestone,” Chary told PTI.

Its turnover stood at Rs 17,500 crore in 2024-25.

Chary noted that the company achieved volume and value growth during the last fiscal year, while attributing the success to “consumer trust” in its products.

Out of the total turnover, the dairy vertical contributed over Rs 15,000 crore, while edible oils and horticulture segments accounted for around Rs 5,000 crore. Around 63 per cent of the company’s revenue came from Delhi-NCR and the remaining from the rest of India.

Value-added dairy products (over 23 per cent) and edible oils (25 per cent) contributed the most to the turnover growth.

Milk business outpaced industry growth, delivering 11 per cent volume growth.

On the outlook for the current 2026-27 fiscal, Chary said the company is targeting a strong 20 per cent growth.

When asked about plans to hike milk prices, he said, “Our input costs for milk procurement have increased. Prices of packaging materials have gone up by 20 per cent. We are currently absorbing the rise in input cost, and we are not contemplating any increase in prices as of now”.

He said there is no issue with the supply of gas and packaged materials.

On plans to enter a new segment, Chary said the company is not looking at entering new segments but will expand its range in the product categories where it is already present.

Mother Dairy regularly introduces new varieties of ice cream and has recently introduced ‘raita’.

Regarding edible oils, he said the prices have inched up because of costly imports.

On capacity expansion, Chary said the company had announced Rs 2,000 crore capex to expand dairy and horticulture businesses. It is setting up plants in Maharashtra, Gujarat, Bihar, Andhra Pradesh and Uttar Pradesh.

The company expects to complete these expansions by the end of the next calendar year.

The top official also highlighted that quick commerce contributed 5 per cent to its overall turnover. The sales through this channel are growing rapidly, reflecting accelerating digital adoption and expanding consumer access.

The company has expanded its distribution footprint to over 95 cities, achieving 100 per cent coverage across metros and Tier-II markets.

Mother Dairy, commissioned in 1974, is a wholly-owned subsidiary of the National Dairy Development Board (NDDB).

The company sells milk and milk products under the ‘Mother Dairy’ brand. It markets edible oils under the ‘Dhara’ brand. Fresh fruits & vegetables, frozen vegetables, snacks, pulps and concentrates are sold under the ‘Safal’ brand.

Mother Dairy owns nine milk processing plants and four horticulture processing plants. In edible oil, the company operates through 16 associated plants.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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Godrej Industries unveiled a sweeping strategic reset on Wednesday, announcing a new brand identity, ambitious financial targets, and plans to list two more businesses including one for chemical arms within the next five years. The conglomerate aims to more than triple its combined market capitalisation to over Rs 5 lakh crore by 2031.

Pirojsha Godrej, recently appointed as Chairperson Designate of the company, laid out the roadmap, saying the 129-year-old group will focus on deepening its existing businesses rather than chasing new ventures. 

Godrej Industries, notably, was carved out following the landmark 2024 Godrej family business split. “Crafting tomorrow since 1897 reflects the belief that values and results must go hand in hand,” he told PTI, announcing the group’s new purpose statement. 

“As we scale, this philosophy will continue to guide how we build businesses that are both successful and responsible.” he added.

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The group currently has three listed entities — Godrej Consumer Products, Godrej Properties and Godrej Agrovet — with a combined market cap of over Rs 1.60 lakh crore, while its two unlisted businesses add roughly Rs 25,000 crore more. 

Pirojsha said the group wants to expand to five listed entities, identifying Godrej Capital and Godrej Chemicals as the front-runners. “Two out of the three will get listed. I think capital and chemicals are probably the two front-runners for our listing,” he told PTI.

The third unlisted entity, Godrej Ventures, is building a modern film studio near the Navi Mumbai International Airport and manages office spaces — a relatively newer venture that the group is retaining flexibility on.

Godrej Capital, the financial services arm, is set to be the group’s fastest-growing business. The group has already invested Rs 5,000 crore in it and is targeting growth in assets under management from Rs 25,000 crore to Rs 1 lakh crore, he said. 

The group will prioritise organic growth over large-scale acquisitions, Pirojsha said, while leaving room for selective tuck-in deals that can strengthen or widen product offerings within individual businesses. 

He added that the conglomerate has no plans to enter new sectors and will instead focus on reinforcing its current businesses with the aim of becoming industry leaders. The group plans to invest a further Rs 5,000–7,000 crore across its unlisted businesses over the next five years, while listed businesses are expected to fund their own growth, as per the chairperson. 

Among its companies, the consumer products arm is expected to be the most active on acquisitions, with potential deals aimed at entering new categories. The financial services business could also pursue acquisitions to expand into additional verticals, he said, noting that microfinance is an area of interest. 

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On the financial performance front, the group has set clear benchmarks — over 15% annual sales growth, more than 20% earnings per share growth, and an 18% return on equity for each business. Both sales and net profits have compounded at over 20% annually for the past five years.

The group also announced that 40% of its workforce will comprise women, persons with disabilities, or LGBTQI members by 2031, and committed to net-zero operations by 2035. Its philanthropic arm, the Godrej Foundation, has received an additional Rs 1,000 crore infusion, and is set to increase yearly social spending by 500%.

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South Korean authorities have found that two fighter jets collided mid-air in 2021 because the pilots were taking pictures and videos during a mission, BBC reported, citing a report by Seoul’s Board of Audit and Inspection.

The incident took place near the central city of Daegu. Although all pilots survived without injuries, the collision caused damage worth 880 million won ($596,000) to the aircraft.

According to the report published on Wednesday, one of the pilots, who has since left the military, was fined 88 million won after being held primarily responsible for the accident.

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The audit found that the pilot of the wingman aircraft wanted to take photographs to commemorate his last flight with the military unit. The report noted that taking photos during significant flights was a widespread practice among pilots at the time.

The pilot reportedly informed others of his plan during a pre-flight briefing. While returning to base, he began taking pictures using his personal mobile phone.

After noticing this, the pilot of the lead aircraft asked another crew member to record a video of the wingman jet, according to the report.

Photo Credit: Wikimedia Commons

The wingman pilot then made a sudden manoeuvre by climbing higher and rolling the aircraft to improve the camera angle. This brought the two F-15K jets dangerously close.

The lead aircraft attempted to descend quickly to avoid a collision, but the two jets eventually struck each other. The crash damaged the lead aircraft’s left wing and the wingman aircraft’s tail stabiliser.

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The South Korean Air Force suspended the wingman pilot, who later left the military to join a commercial airline.

Initially, the Air Force sought to recover the full repair cost of 880 million won from the pilot. However, after he appealed, the Board of Audit and Inspection ruled that he should only pay one-tenth of the amount.

The pilot admitted that his sudden manoeuvre contributed to the collision, but argued that the lead aircraft pilot had “tacitly consented” because he knew filming was taking place.

The audit board said the Air Force should also bear some responsibility for failing to regulate pilots’ personal use of cameras during flights.

The board further noted that the pilot had maintained a good service record before the incident and had managed to safely return his aircraft to base, preventing further damage.

The report did not specify whether any disciplinary action was taken against the other pilots involved.

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