Dodla Dairy
- P/E
- 24.30
Key Fundamentals
MicrocapFood ProductsFMCGPrice-based figures as of · EPS basis: Consolidated · TTM
- ROCE
- 16.70%
- Debt to Equity
- 0.03
- EPS (TTM)
- ₹40.58
- Book Value
- ₹285.38
- Market Cap
- —
- P/E (TTM)
- 24.30
- P/B
- 3.45
- ROE
- 16.40%
- Dividend Yield
- 0.49%
- EBITDA
- ₹369 Cr
- 52W High
- ₹1,295.30
- 52W Low
- ₹923.70
- Day Range
- ₹979.00 – ₹1,038.90
- Volume
- 1,36,354
Peer Comparison
Fast Moving Consumer Goods › Food Products › Dairy Products
| ₹1,046.20 | 63.79 | ₹23,626 Cr | 11.81 | 0.97% | 19.20% | 15.20% | ₹10,413 Cr | ₹366 Cr | |
| ₹302.55 | 84.04 | ₹22,941 Cr | 10.06 | 0.00% | 31.60% | 13.60% | ₹3,765 Cr | ₹235 Cr | |
| ₹39.82 | — | ₹8,971 Cr | 13.92 | 0.00% | −1.01% | — | ₹1,909 Cr | −₹334 Cr | |
| Dodla Dairy (this company) | ₹985.95 | 24.30 | ₹6,129 Cr | 3.45 | 0.49% | 16.40% | 16.70% | ₹4,316 Cr | ₹246 Cr |
| ₹7,377.50 | 24.21 | ₹5,347 Cr | 5.77 | 0.23% | 19.60% | 22.00% | ₹1,676 Cr | ₹219 Cr | |
| ₹370.65 | 30.06 | ₹3,435 Cr | 3.03 | 0.68% | 12.60% | 14.80% | ₹4,934 Cr | ₹115 Cr | |
| ₹291.98 | 28.21 | ₹3,370 Cr | 3.01 | 0.44% | 12.10% | 13.40% | ₹3,911 Cr | ₹130 Cr | |
| Median 7 companies | ₹370.65 | 29.14 | ₹6,129 Cr | 5.77 | 0.44% | 16.40% | 15.00% | ₹3,911 Cr | ₹219 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 100/100
Category scores
- Quality
- 71
- Strong
- Returns, margins, earnings quality 22% weight
- Valuation
- 42
- Weak
- Cheap vs sector & own history 24% weight
- Growth
- 57
- Good
- Sales & profit trajectory 9% weight
- Financial Health
- 90
- Strong
- Solvency, leverage, coverage 9% weight
- Momentum
- 38
- Weak
- Trend strength, vol-adjusted 12% weight
- Ownership
- 54
- Average
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
1- Company is almost debt free.
Weaknesses
2- Tax rate seems low
- Promoter holding has decreased over last 3 years: -3.29%
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 11 | 6 | 2 |
| Oscillators | Bullish | 1 | 6 | 2 |
| Moving Averages | Strong Bearish | 10 | 0 | 0 |
Oscillators
Bullish
Overall
Strong Bearish
Moving Averages
Strong Bearish
Key readings
- RSI (14)
- 44.30
- Neutral
- MACD (12,26,9)
- −10.14
- Bullish
- SMA (50)
- 1,036.91
- Bearish
- SMA (200)
- 1,084.43
- Bearish
As of
Analyst Rating
4 of 4 analysts rate Buy, 0 Hold, 0 Sell.
As of
Growth Rate
From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 5Y | +16.24% |
|---|---|
| 3Y | +13.62% |
| 1Y | +10.89% |
| TTM | +13.10% |
Net profit
| 5Y | +16.21% |
|---|---|
| 3Y | +29.83% |
| 1Y | +2.69% |
| TTM | −4.65% |
Operating cash flow
| 5Y | +3.78% |
|---|---|
| 3Y | +22.37% |
| 1Y | −43.27% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 5Y | −5.03 pp |
|---|---|
| 3Y | +0.66 pp |
| 1Y | −2.75 pp |
| TTM | −2.67 pp |
Revenue by year
| Mar 2018 | ₹1,590 Cr |
|---|---|
| Mar 2019 | ₹1,692 Cr |
| Mar 2020 | ₹2,139 Cr |
| Mar 2021 | ₹1,944 Cr |
| Mar 2022 | ₹2,243 Cr |
| Mar 2023 | ₹2,812 Cr |
| Mar 2024 | ₹3,125 Cr |
| Mar 2025 | ₹3,720 Cr |
| Mar 2026 | ₹4,125 Cr |
Net profit by year
| Mar 2018 | ₹57.00 Cr |
|---|---|
| Mar 2019 | ₹63.00 Cr |
| Mar 2020 | ₹50.00 Cr |
| Mar 2021 | ₹126 Cr |
| Mar 2022 | ₹133 Cr |
| Mar 2023 | ₹122 Cr |
| Mar 2024 | ₹167 Cr |
| Mar 2025 | ₹260 Cr |
| Mar 2026 | ₹267 Cr |
Analyst Forecasts
AI Analysis — Bull vs Bear
Dodla Dairy Ltd is a nearly debt-free dairy company with a market cap of ₹6,768 Cr trading at a PE of 25.2x. It delivered record FY25 consolidated revenue of ₹3,720 Cr (up 19% YoY) and PAT of ₹260 Cr (up 56% YoY), though FY26 revenue growth moderated to ~11% with operating profit declining from ₹381 Cr to ₹308 Cr.
- Nearly debt-free balance sheet with debt-to-equity of just 0.02, providing financial flexibility for expansion without interest burden
- Strong 3-year compounded profit growth of 28% CAGR, significantly outpacing revenue growth of 14% CAGR, indicating operating leverage
- FY25 PAT surged 55.9% YoY to ₹2,599 Mn (₹260 Cr), demonstrating margin expansion capability
- Value-added products (VAP) contributed 35.4% of total revenues in Q1 FY25, driving higher margins versus commodity milk sales
- Consistent ROE of 16-17% over the last 3-5 years on a nearly debt-free balance sheet reflects strong capital efficiency
- 5-year compounded sales CAGR of 16% (from ₹2,243 Cr in FY22 to ₹3,720 Cr in FY25) shows sustained top-line momentum in a structurally growing Indian dairy market projected at 14% CAGR through 2035
- Geographic diversification into Africa (Kenya, Uganda) provides optionality beyond the core South India market
- FY26 EPS of ₹44.26 (consolidated) represents continued profitability even in a year of margin pressure
- Stock has declined 21% over the past 1 year despite strong underlying profit growth, indicating market de-rating or sentiment concerns
- FY26 operating profit fell to ₹308 Cr from ₹381 Cr in FY25, a decline of ~19%, suggesting margin compression from rising input costs
- Promoter holding has decreased by 3.29% over the last 3 years, signaling potential reduced promoter confidence or dilution
- TTM compounded profit growth has stalled at 0%, indicating near-term earnings stagnation after the FY25 surge
- PE of 25.2x for an FMCG-dairy company with FY26 net profit of ~₹267 Cr leaves limited room for earnings disappointment
- Milk sales still constitute 58.6% of revenue, exposing the company to commodity price volatility and thin margins on liquid milk
- Tax rate appears low, which if normalized could compress reported earnings
- Dividend yield of only 0.45% offers limited income return to shareholders relative to the capital deployed
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
TL;DR: Dodla Dairy is performing well with record-high revenue and healthy profitability in FY26, supported by a shareholder-friendly dividend policy. No material headwinds are visible in the recent news flow. Sustainability initiatives like 17% solar adoption signal long-term operational efficiency focus. The trend appears stable-to-positive heading into Q1FY26 results.
- Record revenue and strong PAT Jun 20
Dodla Dairy reported highest-ever consolidated revenue of INR 41,252.01 million in FY26 with PAT of INR 2,669.99 million and declared a final dividend of INR 5 per share. AGM scheduled for 14 July 2026.
- Trading window closed for Q1FY26 Jun 23
Dodla Dairy shuts trading window from July 1, 2026, until 48 hours after Q1FY26 results announcement, in compliance with SEBI insider trading regulations.
- BRSR filed showing sustainability efforts Jun 20
Dodla Dairy filed its Business Responsibility and Sustainability Report for FY26, reporting 17% solar power usage and significant water conservation initiatives.
Quarterly Results
₹ Cr| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 823 | 768 | 747 | 787 | 912 | 998 | 901 | 910 | 1,007 | 1,019 | 1,025 | 1,074 | 1,198 | 1,196 |
| Expenses | 763 | 698 | 664 | 712 | 806 | 901 | 805 | 826 | 924 | 926 | 946 | 1,021 | 1,133 | 1,132 |
| Operating Profit | 60 | 70 | 83 | 75 | 105 | 96 | 96 | 84 | 83 | 93 | 79 | 54 | 65 | 64 |
| OPM % | 7% | 9% | 11% | 10% | 12% | 10% | 11% | 9% | 8% | 9% | 8% | 5% | 5% | 5% |
| Other Income | 7 | 7 | 6 | 8 | 7 | 10 | 11 | 26 | 17 | 11 | 6 | 23 | 14 | 11 |
| Interest | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 16 | 17 | 18 | 18 | 18 | 19 | 20 | 18 | 18 | 21 | 22 | 22 | 23 | 24 |
| PBT | 51 | 59 | 70 | 64 | 93 | 86 | 86 | 90 | 81 | 83 | 63 | 54 | 55 | 51 |
| Tax % | 31% | 26% | 41% | 27% | 30% | 27% | 26% | 25% | 22% | 21% | −10% | −29% | 26% | 28% |
| Net Profit | 35 | 44 | 41 | 47 | 65 | 63 | 64 | 68 | 63 | 66 | 69 | 70 | 41 | 37 |
| EPS (₹) | 5.88 | 7.33 | 6.95 | 7.87 | 10.93 | 10.51 | 10.54 | 11.27 | 10.42 | 10.89 | 11.39 | 11.56 | 6.74 | — |
Sep 2026: from the results filed on 28 Oct 2026, ahead of the full statement, so some rows are blank.
Profit & Loss
₹ Cr| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,590 | 1,692 | 2,139 | 1,944 | 2,243 | 2,812 | 3,125 | 3,720 | 4,125 | 4,316 |
| Expenses | 1,476 | 1,556 | 1,996 | 1,700 | 2,031 | 2,619 | 2,835 | 3,338 | 3,816 | 4,025 |
| Operating Profit | 114 | 135 | 143 | 244 | 212 | 193 | 290 | 382 | 310 | 291 |
| OPM % | 7% | 8% | 7% | 13% | 9% | 7% | 9% | 10% | 8% | 7% |
| Other Income | 6 | 7 | 5 | 6 | 13 | 22 | 26 | 53 | 57 | 55 |
| Interest | 11 | 12 | 17 | 13 | 7 | 2 | 3 | 4 | 3.34 | 4 |
| Depreciation | 28 | 37 | 49 | 51 | 52 | 61 | 70 | 75 | 82 | 87 |
| PBT | 80 | 93 | 82 | 186 | 166 | 152 | 244 | 356 | 281 | 254 |
| Tax % | 29% | 33% | 39% | 32% | 20% | 19% | 32% | 27% | 5% | — |
| Net Profit | 57 | 63 | 50 | 126 | 133 | 122 | 167 | 260 | 267 | 245 |
| EPS (₹) | 174 | 11.27 | 8.96 | 21.6 | 22.32 | 20.55 | 28.03 | 43.09 | 44.26 | 40.58 |
| Div. Payout % | 0% | 0% | 58% | 0% | 0% | 0% | 0% | 12% | 11% | — |
Balance Sheet
₹ Cr| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 56 | 56 | 58 | 59 | 59 | 59 | 60 | 60 |
| Reserves | 336 | 351 | 378 | 600 | 784 | 913 | 1,079 | 1,346 | 1,614 |
| Borrowings | 132 | 167 | 160 | 99 | 13 | 32 | 46 | 42 | 57 |
| Other Liabilities | 135 | 178 | 199 | 216 | 232 | 247 | 293 | 282 | 355 |
| Total Liabilities | 607 | 752 | 793 | 972 | 1,088 | 1,251 | 1,478 | 1,731 | 2,086 |
| Fixed Assets | 327 | 500 | 536 | 549 | 566 | 624 | 713 | 750 | 1,056 |
| CWIP | 16 | 11 | 11 | 8 | 4 | 58 | 12 | 12 | 109 |
| Investments | 67 | 26 | 12 | 60 | 184 | 260 | 196 | 644 | 411 |
| Other Assets | 197 | 214 | 233 | 355 | 334 | 310 | 556 | 324 | 509 |
| Total Assets | 607 | 752 | 793 | 972 | 1,088 | 1,251 | 1,478 | 1,731 | 2,086 |
Cash Flow
₹ Cr| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Operating | 87 | 136 | 166 | 245 | 171 | 161 | −1 | 520 | 295 |
| Investing | −66 | −148 | −76 | −200 | −137 | −210 | 30 | −526 | −285 |
| Financing | −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/OP | 91 | 114 | 124 | 121 | 99 | 107 | 22 | 165 | 113 |
Ratios
| Particulars | 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
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Dodla Dairy insights
63 extracted metrics across FY18–FY27.
Documents
- Q1 FY27 concall · Aug 2026Transcript PPT Recording
- Q4 FY26 concall · May 2026Transcript PPT Recording
- Q3 FY26 concall · Jan 2026Transcript PPT Recording
- Q2 FY26 concall · Nov 2025Transcript PPT Recording
- 2 Apr 2026
- 20 Mar 2025
- 5 Sep 2024
- 31 Jul 2023
- 28 Jul 2022
- General announcements 28 Oct 2026
- General announcements 28 Oct 2026
Frequently Asked Questions about Dodla Dairy
What does Dodla Dairy Ltd do?
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Does Dodla Dairy Ltd pay dividends?
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Company Information
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.
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