Dodla Dairy Ltd
Incorporated in the year 1995, Dodla Dairy Limited is an integrated dairy company based in Telangana. The company derives the majority of its revenue from the sale of Milk and dairy-based value added products in the branded consumer Market. Currently, its procurement is centered in 5 states and its products are available for purchase in 11 states. It has 94 milk chilling centers. Some of their plants are ISO 22000:2005 Certified while two are ISO 50001:2011 (EnMS) Certified.
- Market Cap ₹ 5,966 Cr.
- Current Price ₹ 989
- High / Low ₹ 1,295 / 924
- Stock P/E 27.3
- Book Value ₹ 285
- Dividend Yield 0.50 %
- ROCE 16.7 %
- ROE 16.4 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
Cons
- Tax rate seems low
- Promoter holding has decreased over last 3 years: -3.29%
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1,590 | 1,692 | 2,139 | 1,944 | 2,243 | 2,812 | 3,125 | 3,720 | 4,125 | 4,493 | |
| Sales growth | +6% | +26% | -9% | +15% | +25% | +11% | +19% | +11% | +17% | |
| 1,476 | 1,556 | 1,996 | 1,700 | 2,031 | 2,619 | 2,835 | 3,338 | 3,816 | 4,231 | |
| Operating Profit | 114 | 135 | 143 | 244 | 212 | 193 | 290 | 382 | 310 | 262 |
| OPM % | 7% | 8% | 7% | 13% | 9% | 7% | 9% | 10% | 8% | 6% |
| 6 | 7 | 5 | 6 | 13 | 22 | 26 | 53 | 57 | 54 | |
| Interest | 11 | 12 | 17 | 13 | 7 | 2 | 3 | 4 | 4 | 4 |
| Depreciation | 28 | 37 | 49 | 51 | 52 | 61 | 70 | 75 | 82 | 90 |
| Profit before tax | 80 | 93 | 82 | 186 | 166 | 152 | 244 | 356 | 281 | 222 |
| Tax % | 29% | 33% | 39% | 32% | 20% | 19% | 32% | 27% | 5% | |
| 57 | 63 | 50 | 126 | 133 | 122 | 167 | 260 | 267 | 216 | |
| EPS in Rs | 10.21 | 11.27 | 8.96 | 21.60 | 22.32 | 20.55 | 28.03 | 43.09 | 44.26 | 35.76 |
| Dividend Payout % | 0% | 0% | 58% | 0% | 0% | 0% | 0% | 12% | 11% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 16% |
| 3 Years: | 14% |
| TTM: | 17% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 28% |
| TTM: | -16% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 10% |
| 1 Year: | -18% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 17% |
| Last Year: | 16% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 56 | 56 | 58 | 59 | 59 | 59 | 60 | 60 | 60 |
| Reserves | 336 | 351 | 378 | 600 | 784 | 913 | 1,079 | 1,346 | 1,614 | 1,661 |
| 132 | 167 | 160 | 99 | 13 | 32 | 46 | 42 | 57 | 72 | |
| 135 | 178 | 199 | 216 | 232 | 247 | 293 | 282 | 355 | 407 | |
| Total Liabilities | 607 | 752 | 793 | 972 | 1,088 | 1,251 | 1,478 | 1,731 | 2,086 | 2,201 |
| 327 | 500 | 536 | 549 | 566 | 624 | 713 | 750 | 1,056 | 1,077 | |
| CWIP | 16 | 11 | 11 | 8 | 4 | 58 | 12 | 12 | 109 | 134 |
| Investments | 67 | 26 | 12 | 60 | 184 | 260 | 196 | 644 | 411 | 294 |
| 197 | 214 | 233 | 355 | 334 | 310 | 556 | 324 | 509 | 695 | |
| Total Assets | 607 | 752 | 793 | 972 | 1,088 | 1,251 | 1,478 | 1,731 | 2,086 | 2,201 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 87 | 136 | 166 | 245 | 171 | 161 | -1 | 520 | 295 | |
| -66 | -148 | -76 | -200 | -137 | -210 | 30 | -526 | -285 | |
| -41 | 60 | -26 | 11 | -49 | 15 | -1 | -8 | -25 | |
| Net Cash Flow | -20 | 48 | 64 | 55 | -14 | -35 | 28 | -14 | -15 |
| Free Cash Flow | 16 | 39 | 71 | 189 | 101 | 56 | -105 | 412 | 135 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 91% | 114% | 124% | 121% | 99% | 107% | 22% | 165% | 113% |
Ratios
Consolidated / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Inventory Days | 40 | 36 | 27 | 26 | 27 | 20 | 62 | 22 | 18 |
| Days Payable | 19 | 22 | 17 | 23 | 23 | 22 | 24 | 21 | 22 |
| Cash Conversion Cycle | 22 | 16 | 11 | 4 | 5 | -0 | 40 | 2 | -3 |
| Working Capital Days | -13 | -6 | -13 | -15 | -8 | -7 | 19 | -6 | -10 |
| ROCE % | 20% | 17% | 30% | 21% | 16% | 22% | 27% | 17% |
Insights
In beta| Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Average Milk Procurement LLPD |
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| Average Milk Sales LLPD |
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| Processing Capacity LLPD |
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| Chilling Centres count |
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| Dodla Retail Parlours count |
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| Village Level Collection Centres (VLCCs) count |
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| Curd Sales MTPD |
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| Value-Added Products Sales INR Mn |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Q2 FY27 call: revenue rose 17.4% to INR1,196 crore; board approved 40:60 India dairy ingredients JV.
- Announcement under Regulation 30 (LODR)-Newspaper Publication
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Q2 FY27 earnings call audio recording uploaded on company website after 29 October 2026 results call.
- Announcement under Regulation 30 (LODR)-Investor Presentation
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Board Meeting Outcome for Outcome Of The Board Meeting Held On 28 October 2026
- Board approved Q2 FY26 results and 40:60 JV with Meadow India Holdings for B2B dairy ingredients.
Annual reports
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Annual Report 2026
from bse
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Annual Report 2025
from bse
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Annual Report 2024
from bse
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Annual Report 2023
from bse
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Annual Report 2022
from bse
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Annual Report 2021
from bse
Concalls
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Nov 2026Transcript PPT REC
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Aug 2026Transcript PPT REC
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May 2026Transcript PPT REC
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Jan 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Jul 2025Transcript PPT REC
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Jul 2025PPT
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May 2025Transcript PPT
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Feb 2025Transcript PPT
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Oct 2024Transcript PPT
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Jul 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Oct 2023Transcript PPT
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Jul 2023Transcript PPT
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May 2023Transcript PPT
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Jan 2023Transcript PPT
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Oct 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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Jan 2022PPT
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Oct 2021Transcript PPT
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Aug 2021Transcript
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Jul 2021Transcript PPT
Product Portfolio:[1]
The company is one of India’s
integrated dairy companies.
It procures, processes, and
sells milk & milk products
including butter milk, ghee,
curd, paneer, flavored Milk,
doodh peda, lassi, ice cream,
and milk-based sweets under
brands including the Dodla,
Dodla Dairy, and KC+
in India.[2][3]
Its African product portfolio is marketed
under the Dairy Top, Dodla brands and includes Milk, yogurt with different flavors, paneer, cheese and UHT milk. [4]