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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

₹1,109.60 -15.70 (-1.40%)

As on 25-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

₹1,109.60 -15.70 (-1.40%)

As on 25-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹6,694 Cr.
Current Price
₹1,109.6
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
29.31
Lower than its 5-year historical median
Industry PE
55.8
Price to Book (P/B)
4.47
Lower than its 5-year historical median
Price to Sales (P/S)
1.96
In line with its 5-year historical median
EV/EBITDA
22.13
Higher than its 5-year historical median
Dividend Yield
0.45%
Profitability Efficiency
Return on Equity (ROE)
16.43%
Outperforms industry median
Return on Capital Employed (ROCE)
16.66%
Outperforms industry median
Return on Assets (ROA)
13.81%
Operating Profit Margin
6.6%
Net Profit Margin
6.67%
Gross Profit Margin
8.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
2.4%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-29.69%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-7.53%
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
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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'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ19.7%19.2%17.6%11.8%28.8%23.1%14%21.6%28.1%16.7%-
Value Creation
Index ⓘ		0.50.40.3-0.21.10.7-00.61.10.2-

Growth Parameters ⓘ
Sales ⓘ1,4101,5371,5981,9881,8372,0962,5842,9073,3423,4223,422
Sales YoY Gr.-9%4%24.4%-7.6%14.1%23.3%12.5%15%2.4%-
Adj EPS ⓘ8.39.29.55.218.62316264138.137.9
YoY Gr.-10.2%3.2%-45.4%260.5%23.5%-30.6%62.5%58%-7.1%-
BVPS (₹) ⓘ52.261.67170.8103.1131.8147.9173.7212.5248.2248.2
Adj Net
Profit ⓘ		46.451.152.728.810913795.1154247230228
Cash Flow from Ops. ⓘ59.882.8118103217145140-14.9479233-
Debt/CF from Ops. ⓘ2.31.51.31.50.400000-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ10.4%13.3%9.8%2.4%
Adj EPS ⓘ18.4%15.4%33.6%-7.1%
BVPSⓘ18.9%19.2%18.8%16.8%
Share Price - 12.7% 23.4% -23.8%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		17.416.214.37.321.719.711.416.121.316.615.3
Op. Profit
Mgn % ⓘ		6.26.97.2511.98.95.88.59.66.66.6
Net Profit
Mgn % ⓘ		3.33.33.31.55.96.53.75.37.46.76.7
Debt to
Equity ⓘ		0.50.40.40.40.1000000
Working Cap
Days ⓘ		3738383029292738342132
Cash Conv.
Cycle ⓘ		11121283101411-320

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales1,4101,5371,5981,9881,8372,0962,5842,9073,3423,422
Operating Expenses ⓘ + 1,3231,4321,4831,8891,6191,9102,4342,6613,0223,197
Manufacturing Costs708410197576779909696
Material Costs1,1181,1991,2021,5601,2981,5372,0022,1642,4712,600
Employee Cost 526171848294109123141167
Other Costs ⓘ 8389109148183213244284314334
Operating Profit ⓘ 8710511598217186150246319224
Operating Profit Margin (%) 6.2%6.8%7.2%5.0%11.8%8.9%5.8%8.5%9.6%6.6%
Other Income ⓘ + 7681383324257171
Exceptional Items ⓘ 000000000-2
Interest ⓘ 81111171372212
Depreciation ⓘ 18253446474958646462
Profit Before Tax ⓘ 68757948165163115206324230
Tax ⓘ 2225261957272052772
Profit After Tax 4651522810813795154247228
PAT Margin (%) 3.3%3.3%3.3%1.4%5.9%6.5%3.7%5.3%7.4%6.7%
Adjusted EPS (₹)8.39.19.45.118.623.016.025.940.937.9
Dividend Payout Ratio (%)0%0%0%101.70%0%0%0%0%12.20%13.20%

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'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 2903433953946017848801,0331,2821,497
Share Capital ⓘ 335656585959596060
Reserves ⓘ 2873403393395437258219741,2221,437
Debt +1281171421275300000
Long Term Debt3222110875300000
Short Term Debt97943140000000
Minority Interest0000000000
Trade Payables495970688190109125125134
Others Liabilities ⓘ 6382117144167130125144128140
Total Liabilities ⓘ 5316017237339031,0051,1141,3021,5351,771

Fixed Assets

Net Fixed Assets ⓘ +234297464484495510563578599618
Gross Block2523405386036597208238939631,031
Accumulated Depreciation184275118164210260315364413
CWIP ⓘ 30151188430121199
Investments ⓘ 1091086755104228309238680702
Inventories83130117111851089735511991
Trade Receivables124455891211
Cash Equivalents 711102716060313945152
Others Assets ⓘ 67385143468974716998
Total Assets ⓘ 5316017237339031,0051,1141,3021,5351,771

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 6083118103217145140-15479233
PBT ⓘ 68757948165163115206324230
Adjustment ⓘ 19314253542739464-2
Changes in Working Capital ⓘ -6-816547-616-22323746
Tax Paid ⓘ -22-16-19-2-50-39-30-44-86-41
Cash Flow From Investing Activity ⓘ + -80-61-140-45-166-129-16632-470-217
Capex -74-66-186-67-51-70-71-62-86-138
Net Investments -254518-120-83-9087-415158
Others ⓘ -5104624-5731-238
Cash Flow From Financing Activity ⓘ + 19-4062-2611-49-3-3-4-16
Net Proceeds from Shares ⓘ 00001005000180
Net Proceeds from Borrowing ⓘ 2-740-16-23-870000
Interest Paid ⓘ -10-10-11-14-12-600-1-1
Dividend Paid ⓘ 000-18-11000-18-12
Others ⓘ 28-223323-43-6-3-3-2-2
Net Cash Flow ⓘ -1-18393361-33-291360

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)17.2515.9414.27.2121.7819.7211.4116.0821.3316.43
ROCE (%)19.6919.1717.5511.7528.7823.0913.9921.6128.0816.66
Asset Turnover Ratio2.922.722.482.792.292.222.472.442.392.11
PAT to CFO Conversion(x)1.31.632.273.682.011.061.47-0.11.941.02
Working Capital Days
Receivable Days0.100.300.600.700.800.800.901.101.101.20
Inventory Days22.3025.2027.5020.5019.2016.7014.4028.1025.6011
Payable Days13.7016.4019.6016.2021.1020.4018.2019.8018.5018.20

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 25-Jun-2026 16:59 is ₹1,109.6.

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 24-Jun-2026 the market cap of Dodla Dairy stood at ₹6,694 Cr

The latest P/E ratio of Dodla Dairy as of 24-Jun-2026 is 29.31.

The latest P/B ratio of Dodla Dairy as of 24-Jun-2026 is 4.47.

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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