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Dodla Dairy Ltd (DODLA)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543306 NSE: DODLA Consumer Food | Small Cap | Dodla Dairy Share Price

₹1,094.95 -7.35 (-0.67%)

As on 04-Jun'26 16:59

Dodla Dairy Ltd (DODLA)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543306 NSE: DODLA Consumer Food | Small Cap | Dodla Dairy Share Price

₹1,094.95 -7.35 (-0.67%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹6,606 Cr.
Current Price
₹1,095
52-Week Low / High
₹955 / 1,523
TTM EPS
₹37.9
TTM Sales
₹3,422 Cr.
Book Value per Share
₹248.2
P/E Ratio
28.92
Lower than its 5-year historical median
Industry PE
55.5
Price to Book (P/B)
4.41
Lower than its 5-year historical median
Price to Sales (P/S)
1.93
In line with its 5-year historical median
EV/EBITDA
21.85
Higher than its 5-year historical median
Dividend Yield
0.43%
Profitability Efficiency
Return on Equity (ROE)
21.33%
Outperforms industry median
Return on Capital Employed (ROCE)
28.08%
Outperforms industry median
Return on Assets (ROA)
17.41%
Operating Profit Margin
9.6%
Net Profit Margin
7.39%
Gross Profit Margin
11.5%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
14.95%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
29.61%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
60.5%
Asset Quality
Promoter Holding
58.92%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,437 Cr.
Equity
₹60.3 Cr.
Face Value
₹10
All Time Low / High
₹385.00 / 1522.85

Dodla Dairy stock performance

Key Ratios
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Quality

Very Good
Check detailed performance

Valuation

Somewhat Overvalued

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Price Trend

Semi Strong
Check Price chart
Q.1 Is Dodla Dairy Ltd a good quality company?
Dodla Dairy Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

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How does Dodla Dairy Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Dodla Dairy Ltd vs industry peers?
Dodla Dairy Ltd revenue CAGR is 10.95%, compared to the industry median CAGR of 7.03%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Dodla Dairy Ltd?
Promoters hold 58.92% of the Dodla Dairy Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Dodla Dairy Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of 27.9% based on the current price.
View More

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Dodla Dairy Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ24.9%19.7%19.2%17.6%11.8%28.8%23.1%14%21.6%28.1%-
Value Creation
Index ⓘ		0.90.50.40.3-0.21.10.7-00.61.1-

Growth Parameters ⓘ
Sales ⓘ1,1821,4101,5371,5981,9881,8372,0962,5842,9073,3423,422
Sales YoY Gr.-19.3%9%4%24.4%-7.6%14.1%23.3%12.5%15%-
Adj EPS ⓘ6.68.39.29.55.218.62316264137.9
YoY Gr.-26%10.2%3.2%-45.4%260.5%23.5%-30.6%62.5%58%-
BVPS (₹) ⓘ43.952.261.67170.8103.1131.8147.9173.7212.5248.2
Adj Net
Profit ⓘ		36.846.451.152.728.810913795.1154247228
Cash Flow from Ops. ⓘ13159.882.8118103217145140-14.9479-
Debt/CF from Ops. ⓘ0.82.31.51.31.50.40000-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ12.2%11%16.8%15%
Adj EPS ⓘ22.5%51.3%21.2%58%
BVPSⓘ19.2%24.6%17.3%22.4%
Share Price - - 26.5% -17.8%

Key Financial Parameters ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		1617.416.214.37.321.719.711.416.121.316.4
Op. Profit
Mgn % ⓘ		8.46.26.97.2511.98.95.88.59.66.6
Net Profit
Mgn % ⓘ		3.13.33.33.31.55.96.53.75.37.46.7
Debt to
Equity ⓘ		0.50.50.40.40.40.100000
Working Cap
Days ⓘ		5037383830292927383432
Cash Conv.
Cycle ⓘ		241112128310141120

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,1821,4101,5371,5981,9881,8372,0962,5842,9073,342
Operating Expenses ⓘ + 1,0871,3231,4321,4831,8891,6191,9102,4342,6613,022
Manufacturing Costs1007084101975767799096
Material Costs8691,1181,1991,2021,5601,2981,5372,0022,1642,471
Employee Cost 46526171848294109123141
Other Costs ⓘ 738389109148183213244284314
Operating Profit ⓘ 958710511598217186150246319
Operating Profit Margin (%) 8.0%6.2%6.8%7.2%5.0%11.8%8.9%5.8%8.5%9.6%
Other Income ⓘ + 876813833242571
Exceptional Items ⓘ 0000000000
Interest ⓘ 138111117137221
Depreciation ⓘ 16182534464749586464
Profit Before Tax ⓘ 7468757948165163115206324
Tax ⓘ 38222526195727205277
Profit After Tax 364651522810813795154247
PAT Margin (%) 3.0%3.3%3.3%3.3%1.4%5.9%6.5%3.7%5.3%7.4%
Adjusted EPS (₹)6.48.39.19.45.118.623.016.025.940.9
Dividend Payout Ratio (%)23%0%0%0%101.70%0%0%0%0%12.20%

Valuation of Dodla Dairy - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 2442903433953946017848801,0331,282
Share Capital ⓘ 33356565859595960
Reserves ⓘ 2412873403393395437258219741,222
Debt +103128117142127530000
Long Term Debt32322211087530000
Short Term Debt719794314000000
Minority Interest0000000000
Trade Payables35495970688190109125125
Others Liabilities ⓘ 536382117144167130125144128
Total Liabilities ⓘ 4365316017237339031,0051,1141,3021,535

Fixed Assets

Net Fixed Assets ⓘ +164234297464484495510563578599
Gross Block214252340538603659720823893963
Accumulated Depreciation51184275118164210260315364
CWIP ⓘ 36301511884301211
Investments ⓘ 951091086755104228309238680
Inventories89831301171118510897355119
Trade Receivables11244558912
Cash Equivalents 9711102716060313945
Others Assets ⓘ 42673851434689747169
Total Assets ⓘ 4365316017237339031,0051,1141,3021,535

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + 1316083118103217145140-15479
PBT ⓘ 7468757948165163115206324
Adjustment ⓘ 2619314253542739464
Changes in Working Capital ⓘ 64-6-816547-616-223237
Tax Paid ⓘ -34-22-16-19-2-50-39-30-44-86
Cash Flow From Investing Activity ⓘ + -96-80-61-140-45-166-129-16632-470
Capex -90-74-66-186-67-51-70-71-62-86
Net Investments -3-254518-120-83-9087-415
Others ⓘ -3-5104624-5731
Cash Flow From Financing Activity ⓘ + -3719-4062-2611-49-3-3-4
Net Proceeds from Shares ⓘ 00000100500018
Net Proceeds from Borrowing ⓘ 252-740-16-23-87000
Interest Paid ⓘ -11-10-10-11-14-12-6000
Dividend Paid ⓘ -10000-18-11000-18
Others ⓘ -4128-223323-43-6-3-3-3
Net Cash Flow ⓘ -2-1-18393361-33-29136

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)15.4317.2515.9414.27.2121.7819.7211.4116.0821.33
ROCE (%)24.9419.6919.1717.5511.7528.7823.0913.9921.6128.08
Asset Turnover Ratio2.792.922.722.482.792.292.222.472.442.39
PAT to CFO Conversion(x)3.641.31.632.273.682.011.061.47-0.11.94
Working Capital Days
Receivable Days0.300.100.300.600.700.800.800.901.101.10
Inventory Days35.6022.3025.2027.5020.5019.2016.7014.4028.1025.60
Payable Days15.1013.7016.4019.6016.2021.1020.4018.2019.8018.50

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Dodla Dairy Ltd FAQs

The current trading price of Dodla Dairy on 04-Jun-2026 16:59 is ₹1,095.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Dodla Dairy stood at ₹6,605.6 Cr

The latest P/E ratio of Dodla Dairy as of 03-Jun-2026 is 28.92.

The latest P/B ratio of Dodla Dairy as of 03-Jun-2026 is 4.41.

The 52-week high of Dodla Dairy is ₹1,522.9 and the 52-week low is ₹955.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Dodla Dairy is ₹3,422 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Dodla Dairy Ltd is a good quality company.

The key valuation ratios of Dodla Dairy Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Dodla Dairy Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Dodla Dairy Ltd

Dodla Dairy (Dodla), established in 1995, is an integrated dairy company based in South India. The company operates state-of-the-art processing plants, milk collection centres, storage facilities, machinery, vehicles, and offers a diverse range of dairy products. The company’s extensive portfolio is an essential part of daily life, complementing every meal. The company has several processing plants in India. Besides milk, the company specialises in producing and selling value added products (VAPs), such as flavoured milk, lassi, ice creams, curd, cheese, paneer, ghee, and yogurt, catering to diverse consumer needs. Expanding beyond India, the company has established a strong foothold in Africa, specifically in Kenya and Uganda. The company’s African operations focus on direct milk procurement from local farmers, ensuring quality control, fair pricing, and farmer empowerment. Replicating its India-based model, the company has strengthened the dairy supply chain in Kenya and Uganda, providing farmers with stable income, while delivering highquality dairy products to consumers.

Additionally, through its wholly owned subsidiary, Orgafeed, the company is engaged in seed crushing and cattle feed manufacturing, and dealing of groundnuts, sesame seeds, and cotton. Orgafeed aligns with its strategic focus on strengthening the dairy supply chain and ensuring cost efficiency in milk production. By producing high-quality, nutritionally balanced, and affordable cattle feed, the company helps dairy farmers improve livestock productivity, milk yields, and reduce dependency on external feed suppliers. This approach not only supports Dodla Dairy’s integrated model but also ensures greater control over input costs, improving the overall profitability and sustainability of its dairy operations.

Business area of the company

The company is engaged in sale of milk and milk products. It processes and sells milk including standardized, toned, and double toned milk, and produces dairy products like curd, butter, ghee, ice cream, flavoured milk, etc.

Products

  • Milk
  • UHT Milk
  • Curd
  • Buttermilk
  • Ice Creams
  • Lassi
  • Flavoured Milk
  • Sweets
  • Paneer
  • Ghee

Awards, accreditations and recognitions

  • 2015: Awarded the TV5 Business Leader award in the food processing (medium) category.
  • 2018: Awarded the HMTV Business Excellence award for the best agri/food processing company.
  • 2018: Awarded CII Outstanding Performance for best practices in cold storage in large segment.
  • 2021-22: During the Financial year 2021-2022, the Company has received “EMERGING COMPANY OF THE YEAR” award from SOUTH INDIA BUSINESS LEADER OF THE YEAR.
  • 2021-22: The Company received “ACHIEVER HR BEST Practices -2021” in the category of best in HR Technology/ Analytics in large scale from Federation of Telangana Chambers of Commerce and industry (FTCCI).
  • 2022-23: CII award for food safety 2022 – Commendation Certificate for Significant Achievement in Food Safety award from CII’s Food and Agriculture Centre of Excellence (FACE) in “Dairy Products Large Business” for two of units i.e. Gundrampally and Chendurthi.
  • 2022-23: National Safety Council of India Safety Awards – 2022 in manufacturing sector awarded to Dodla Dairy, Nellore Plant, Andhra Pradesh.
  • 2023-24: National Safety Council of India Safety Awards – 2023 in manufacturing sector awarded to Dodla Dairy, Chendurthi, Indragi and Gundrampally
  • 2024-25: Confederation of Indian Industry (CII) - 25th National Award for Excellence in Energy Management 2024.
  • 2024-25: Bureau of Indian Standards (BIS) - Skimmed Milk Powder: Part-1 Standard Grade
  • 2024-25: India Food Summit - Dairy Company of the Year
  • 2024-25: Bureau of Indian Standards (BIS) - Skimmed Milk Powder: Achieving Zero Failure
  • 2024-25: Inter Dairy Awards 2024 - Best Product Quality & Safety Control
  • 2024-25: National Safety Council of India Awards 2024 - Batlangundu Plant: Best Safety Control

Major events and milestones

  • 1995: Incorporation of Dodla Dairy Limited.
  • 1998: Established an Integrated dairy processing and packaging plant at Nellore, AP. (Greenfield Project)
  • 2001: Acquired a dairy processing plant at Penumur, AP. (Brownfield Project)
  • 2004: Established a dairy processing and packaging plant at Palamaner, AP. (Greenfield Project)
  • 2007: Established a dairy processing plant at Badvel, AP. (Greenfield Project)
  • 2007: Acquired a dairy processing plant at Sattenapalle, AP. (Brownfield Project)
  • 2009: Established Skim milk Powder (SMP) plant at Nellore, AP. (Greenfield Project)
  • 2009: Implemented Microsoft Dynamic ERP software across the company.
  • 2013: Acquired a dairy processing plant at Kurnool, AP and modernized completely.
  • 2014: Acquired a dairy processing plant at Mbarara, Uganda and modernized completely. This is the 1st International operation.
  • 2014: Established an Integrated dairy processing and packaging plant at Indragi, KA. (Greenfield Project)
  • 2014: Established a dairy farm plant at Pulivendula, AP. (Greenfield Project)
  • 2016: Acquired a processing plant in Dharmapuri in Tamil Nadu. This new plant has helped Dodla Brand to expand in Central and South Tamil Nadu markets and Bengaluru
  • 2017: Established an Integrated dairy processing and packaging plant at Hyderabad, TS. (Greenfield Project)
  • 2017: Acquired a dairy processing and packaging plant at Palacode, TN. (Brownfield Project)
  • 2018: Implemented SAP software for all functions & verticals.
  • 2018: Established a Ice cream plant at Hyderabad, TS.
  • 2019: Established an Integrated dairy processing and packaging plant at Chendurthi, AP. (Greenfield Project)
  • 2019: Acquired two dairy processing plants at Dindigal and Batlagundu, TN. (Brownfield Project)
  • 2019: Acquired Animal Feed plant at Kadapa, AP. (Brownfield Project)
  • 2020: Upgraded the Nellore plant
  • 2021: Secured Rs 1,000 Million investment from IFC
  • 2021: Listed on BSE Ltd. and NSE Limited
  • 2022: Acquired a dairy processing plant at Kirwatti, KA. (Brownfield Project)
  • 2023: Established a Cattle Feed plant at Kuppam, AP. (Greenfield Project)
  • 2024: Acquired a dairy processing plant at Hassan, KA. (Brownfield Project)
  • 2024: Commenced operations at Dodderi Plant, Karnataka by replacing Tumkur lease Plant
  • 2025: Completed the purchase of 61 acres of land parcel for the Dairy business and 12 acres for the Orgafeed business in Itkal Village, Maharashtra.

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