Parag Milk Foods Ltd (PMFL), a leading dairy FMCG company, has elevated Rakesh Kothari as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) with effect from August 6, 2026.
Kothari, who has been serving as President – Finance & Accounts for the past one year, will now lead the company’s finance function.
Seasoned finance professional
With more than 25 years of experience across banking and corporate finance, he brings expertise in financial planning, treasury operations, investor relations, risk management and business finance.
Before joining Parag Milk Foods, Kothari worked with Citibank and Sadhana Nitro Chem. At PMFL, he has worked closely with the leadership team and played a key role in strengthening the company’s financial framework while supporting its business expansion and portfolio diversification.
Management comment
“As we strengthen our professional management, the elevation of Rakesh is an important step to drive financial discipline. He has been a valuable member of our leadership team over the past year,” said Executive Director Akshali Shah.
Rakeh understands our business, works closely with our teams and has strong business acumen. As we continue to grow, his experience and business perspective will play an important role in steering business growth,” he said.
Expanding dairy portfolio
Established in 1992, Parag Milk Foods operates manufacturing facilities with in-house technology at Manchar and Thorandale in Maharashtra and Palamner in Andhra Pradesh.
Its Bhagyalaxmi dairy farm houses more than 5,000 cows with an automated milking process. The company markets traditional dairy products such as ghee, dahi, paneer and liquid milk under the Gowardhan brand, while cheese, UHT milk, buttermilk, lassi and flavoured milkshakes are sold under the Go brand. It also markets premium milk under the Pride of Cows brand.
The company has also expanded into whey protein-based sports nutrition through the Avvatar brand, India’s first 100% vegetarian whey protein. PMFL aims to become a global nutrition company with a focus on health, quality and innovation.