Modern Dairies Ltd

Modern Dairies Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Modern Dairies Ltd

₹ 48.8 0.78%
22 Aug - close price
moderndairies.com BSE: 519287
About

Incorporated in 1992, Modern Dairies
Ltd manufactures Milk and Milk products[1]

Key Points

Business Overview:[1]
a) Processing Capacity:
MDL commenced operations with an initial milk processing capacity of 3.25 lakh litres per day (LLPD).
b) Liquid Milk Arrangement:
The company has a strategic tie-up with Mother Dairy for the complete off-take of 2 LLPD.
c) Ghee Sales Channels:
Ghee is marketed through their own retail channel and also via bulk sales under the brand names Shweta and Modern Dairies
d) Institutional Supply Portfolio: **
The company supplies various milk derivatives—including skimmed milk powder, whole milk powder, mozzarella cheese, and casein—to institutional buyers.
e) Current Product Focus**:
The emphasis is currently on expanding the sale of fresh dairy products, cheese, and ghee.

Website BSE
  • Market Cap ₹ 125 Cr.
  • Current Price ₹ 48.8
  • High / Low ₹ 76.0 / 44.5
  • Stock P/E 5.04
  • Book Value ₹ 15.8
  • Dividend Yield 0.00 %
  • ROCE %
  • ROE %
  • Face Value ₹ 10.0
Edit ratios

Pros

  • Company has delivered good profit growth of 50.8% CAGR over last 5 years

Cons

  • Stock is trading at 3.10 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of -14.6% over past five years.
  • Tax rate seems low
  • Contingent liabilities of Rs.531 Cr.
  • Earnings include an other income of Rs.56.7 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Fast Moving Consumer Goods Fast Moving Consumer Goods Food Products Dairy Products

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Quarterly Results

Figures in Rs. Crores

Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025
43.80 42.29 49.31 80.92 83.12 80.60 99.95 97.83 94.43 73.84 88.76 91.06 78.30
40.86 37.66 45.90 76.33 79.09 76.64 93.76 90.36 89.43 69.75 85.64 89.32 75.27
Operating Profit 2.94 4.63 3.41 4.59 4.03 3.96 6.19 7.47 5.00 4.09 3.12 1.74 3.03
OPM % 6.71% 10.95% 6.92% 5.67% 4.85% 4.91% 6.19% 7.64% 5.29% 5.54% 3.52% 1.91% 3.87%
0.57 0.39 1.11 0.35 0.02 19.34 0.14 0.33 0.16 0.36 56.04 0.20 0.14
Interest -0.00 -0.00 1.02 1.46 1.32 1.05 0.76 0.69 0.54 0.39 0.45 0.45 0.24
Depreciation 0.86 0.78 0.85 0.86 0.71 0.91 1.04 0.76 0.76 0.74 0.79 0.87 0.84
Profit before tax 2.65 4.24 2.65 2.62 2.02 21.34 4.53 6.35 3.86 3.32 57.92 0.62 2.09
Tax % -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -2,779.03% 21.05%
2.65 4.24 2.65 2.62 2.02 21.34 4.52 6.34 3.86 3.32 57.93 17.86 1.65
EPS in Rs 1.14 1.82 1.14 1.12 0.87 9.15 1.94 2.72 1.66 1.42 24.84 6.97 0.64
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
638 625 497 457 467 560 766 610 241 217 362 348 332
619 629 499 461 480 549 757 600 231 201 340 334 320
Operating Profit 19 -3 -2 -4 -14 11 9 10 10 17 22 14 12
OPM % 3% -1% -0% -1% -3% 2% 1% 2% 4% 8% 6% 4% 4%
14 2 0 14 0 0 0 -22 2 1 20 57 57
Interest 16 17 18 17 0 0 0 0 0 2 4 2 2
Depreciation 7 5 5 5 5 5 6 22 6 3 3 3 3
Profit before tax 9 -24 -24 -11 -19 6 3 -35 5 12 34 66 64
Tax % -2% -7% -1% -0% -0% -0% -0% -0% -0% -0% -0% -26%
9 -22 -24 -11 -19 6 3 -35 5 12 34 83 81
EPS in Rs 4.05 -9.54 -10.39 -4.89 -7.96 2.60 1.50 -14.89 2.12 5.21 14.68 32.38 33.87
Dividend Payout % -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years: -6%
5 Years: -15%
3 Years: 13%
TTM: -11%
Compounded Profit Growth
10 Years: 12%
5 Years: 51%
3 Years: 76%
TTM: 48%
Stock Price CAGR
10 Years: 14%
5 Years: 66%
3 Years: 78%
1 Year: 0%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

Balance Sheet

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 23 23 23 23 23 23 23 23 23 23 23 26
Reserves -35 -57 -81 -93 -111 -105 -102 -136 -131 -119 -85 15
179 180 173 177 167 165 155 50 0 1 8 7
39 53 59 46 38 53 53 138 170 180 144 69
Total Liabilities 207 199 174 153 117 136 130 74 62 85 90 117
84 82 79 79 77 76 74 34 30 29 30 31
CWIP 0 0 0 0 0 0 2 0 -0 1 1 0
Investments 0 0 0 0 0 0 0 0 0 0 0 0
123 117 95 74 40 59 54 40 32 56 59 85
Total Assets 207 199 174 153 117 136 130 74 62 85 90 117

Cash Flows

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-7 17 30 3 16 4 6 7 17 15 28 20
-1 -2 -2 -5 -3 -4 -5 -3 -2 -3 -5 -4
8 -16 -22 -3 -11 -0 -2 -3 -9 -19 -22 -10
Net Cash Flow 0 -1 6 -5 1 -1 -1 0 6 -7 1 7

Ratios

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 12 18 22 22 7 20 11 6 5 32 19 22
Inventory Days 50 47 36 30 14 10 13 16 31 73 39 38
Days Payable 12 19 23 22 15 20 18 11 11 88 58 61
Cash Conversion Cycle 51 46 35 30 6 10 6 11 25 16 0 -1
Working Capital Days 8 -11 -44 -39 -136 -109 -74 -89 -223 -217 -91 -14
ROCE % 9% -4% -5% -8% -20% 8% 4% -172%

Shareholding Pattern

Numbers in percentages

1 Recently
Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025
45.69% 45.69% 45.71% 45.71% 45.71% 45.71% 45.71% 45.71% 45.71% 45.71% 50.59% 50.59%
0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
0.09% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
54.18% 54.27% 54.25% 54.26% 54.24% 54.25% 54.25% 54.25% 54.25% 54.25% 49.37% 49.37%
No. of Shareholders 15,71315,50115,62915,54016,37117,14916,69117,14916,97316,93416,96716,815

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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