Arthneeti

Dodla Dairy Q2 FY27 Share Price & Earnings Call Analysis

₹979.40+1.42% today
Market cap
₹5,911 Cr
P/E
23.89
ROE
16.45%
PEG
0.84
Price to sales
1.36
Debt to equity
0.03
52W high / low
₹1,302 / ₹966
Sales growth (5Y)
16.24%
EBITDA margin
6.74%
Net profit margin
6.14%
Promoter holding
58.92%
Sales (last year)
₹4,316 Cr

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.

Guidance scorecard · Q2 FY27 call

What Dodla Dairy Ltd's management guided
and where it ranks in Food Products

Revenue10–20%MarginsUp 0–2%CapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ4 FY26 call

10–20%
  • FY27 revenue growth expected in low to mid-teens, driven by OSAM's full year contribution and continued Africa market growth.
  • Organic growth in India business projected at 8% to 9%.
  • India liquid milk volume growth targeted at 5% to 6%, while value-added products (VAP) aim for about 10% volume growth.
  • Africa business volume growth sustainable at around 20% annually, with revenue growth of approximately 20%.
  • Maharashtra procurement target to reach minimum 5 lakh liters per day by end of FY27, up from current 3 lakh liters.
  • Expansion in Uganda and Kenya to scale Africa business towards 15%-18% of consolidated revenue by FY28.

2 more points from Dodla Dairy Ltd's call on revenue

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Full Q4 FY26 analysis

MarginsQ4 FY26 call

Up 0–2%

See what Dodla Dairy Ltd said on margins — free account, 30 seconds.

Full Q4 FY26 analysis

CapexQ4 FY26 call

Planned
  • Maharashtra project progressing on schedule; commercial operations expected by end of FY27; INR106 crores capex deployed in FY25 and FY26; INR180 crores planned for FY27.
  • Bihar dairy project: allotted 7-acre land by Bihar Industrial Area Development Authority; investment around INR4.4 crores pending Board approval.
  • Uganda expansion: acquired 70 acres for greenfield expansion; total capex budget approx INR60 crores including land and plant; phased execution aimed for completion by end of FY29.
  • Regular capex: projected INR130 crores standalone capex for FY27 excluding Maharashtra project.

2 more points from Dodla Dairy Ltd's call on capex

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Full Q4 FY26 analysis

FundraisingQ4 FY26 call

See what Dodla Dairy Ltd said on fundraising — free account, 30 seconds.

Full Q4 FY26 analysis

Order bookQ4 FY26 call

Ask what Dodla Dairy Ltd said on the order book →

Full Q4 FY26 analysis
Full Food Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Food Products
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Dodla Dairy Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Food Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹459 Cr7.9
240%+Up 2%+₹454 Cr79.8
340%+Flat₹1,061 Cr48.2
440%+Flat₹157 Cr10.5
520–40%Up 2%+₹671 Cr48.3
620–40%Up 2%+₹265 Cr7.8

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Dodla Dairy Ltd announcements

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Financials of Dodla Dairy Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Dodla Dairy Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +62.21%62.21%60.52%59.69%59.69%59.69%59.69%58.92%58.92%58.92%58.92%58.92%
FIIs +11.34%11.36%11.27%11.58%11.03%10.41%10.03%8.91%7.36%6.44%6.08%6.06%
DIIs +16.90%17.62%18.64%17.96%18.84%19.14%19.22%21.50%23.76%25.34%25.85%26.09%
Public +9.55%8.82%9.57%10.78%10.44%10.74%11.05%10.67%9.96%9.30%9.16%8.94%
No. of Shareholders32,35629,70032,16333,79833,25933,69537,79838,55235,37933,64933,21332,389

Financials of Dodla Dairy Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +7687477879129989019101,0071,0191,0251,0741,1981,196
Expenses +6986647128069018058269249269461,0211,1331,132
Operating Profit708375105969684839379546564
OPM %9%11%10%12%10%11%9%8%9%8%5%5%5%
Other Income +768710112617116231411
Interest0111111111111
Depreciation17181818192018182122222324
Profit before tax59706493868690818363545551
Tax %26%41%27%30%27%26%25%22%21%-10%-29%26%28%
Net Profit +44414765636468636669704137
EPS in Rs7.336.957.8710.9310.5110.5411.2710.4210.8911.3911.566.746.07

Financials of Dodla Dairy Ltd

Profit & Loss

Annual income statement trend

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +1,5901,6922,1391,9442,2432,8123,1253,7204,1254,493
Expenses +1,4761,5561,9961,7002,0312,6192,8353,3383,8164,231
Operating Profit114135143244212193290382310262
OPM %7%8%7%13%9%7%9%10%8%6%
Other Income +6756132226535754
Interest11121713723444
Depreciation28374951526170758290
Profit before tax809382186166152244356281222
Tax %29%33%39%32%20%19%32%27%5%
Net Profit +576350126133122167260267216
EPS in Rs10.2111.278.9621.6022.3220.5528.0343.0944.2635.76
Dividend Payout %0%0%58%0%0%0%0%12%11%

Financials of Dodla Dairy Ltd

Balance Sheet

Capital structure and asset base

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital3565658595959606060
Reserves3363513786007849131,0791,3461,6141,661
Borrowings +13216716099133246425772
Other Liabilities +135178199216232247293282355407
Total Liabilities6077527939721,0881,2511,4781,7312,0862,201
Fixed Assets +3275005365495666247137501,0561,077
CWIP16111184581212109134
Investments67261260184260196644411294
Other Assets +197214233355334310556324509695
Total Assets6077527939721,0881,2511,4781,7312,0862,201

Financials of Dodla Dairy Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +87136166245171161-1520295
Cash from Investing Activity +-66-148-76-200-137-21030-526-285
Cash from Financing Activity +-4160-2611-4915-1-8-25
Net Cash Flow-20486455-14-3528-14-15
Free Cash Flow16397118910156-105412135
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit91%114%124%121%99%107%22%165%113%

Financials of Dodla Dairy Ltd

Ratios

Working capital efficiency and return ratios

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days121111111
Inventory Days403627262720622218
Days Payable192217232322242122
Cash Conversion Cycle22161145-0402-3
Working Capital Days-13-6-13-15-8-719-6-10
ROCE %20%17%30%21%16%22%27%17%

Guidance history

How Dodla Dairy Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q4 FY26 call →10–20%Up 0–2%Planned——
Q3 FY26 call →0–10%FlatPlannedNone planned—
Q2 FY26 call →0–10%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

19out of 100

Momentum score · price trend

19 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−24.8%32%
Last 6 months−11.0%37%
Last 3 months−5.9%55%

The price is 33% below its all-time high of ₹1,462.3 (5 Sept 2025). Stocks more than 20% below their peak have their score halved, so 39 became 19.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Dodla Dairy Ltd: 0.4 × 32 + 0.4 × 37 + 0.2 × 55 = 39, halved to 19 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Dodla Dairy Ltd's management said in earlier quarters

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