NSE: DODLA · BSE: 543306 · ISIN INE021O01019
Dodla Dairy Limited stock analysis
Dodla Dairy Limited ranks #928 in the TickerSutra evidence-ranked universe with a score of 58/100 and 93% data confidence. The latest captured fundamentals show ROCE of 16.7%, quarterly sales growth of 19.0% and quarterly profit growth of -35.4%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Low debt/equity of 0.03×
- Strong CFO/EBITDA of 0.95×
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- No calculated threshold risk in the current snapshot.
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹2,243cr | ₹212cr | ₹133cr | 9.0% |
| 2023 | ₹2,812cr | ₹193cr | ₹122cr | 7.0% |
| 2024 | ₹3,125cr | ₹290cr | ₹167cr | 9.0% |
| 2025 | ₹3,720cr | ₹382cr | ₹260cr | 10.0% |
| 2026 | ₹4,125cr | ₹310cr | ₹267cr | 8.0% |
| TTM | ₹4,316cr | ₹291cr | ₹245cr | 7.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
MANAGEMENT COMMENTARY
Signals from filed documents
PRODUCT PERFORMANCE Milk Liquid milk remains the largest revenue contributor for the Company. In 2025-26, consolidated milk sales volumes averaged 13.18 lakhs litres per day (LLPD), reflecting year-on-year growth supported by deeper distribution penetration in existing markets and geographic expansion into new territories, with roughly equal contribution from each source. Average consolidated milk sales realisations
Along with revenue growth, our profitability also improving steadily. We are confident in achieving robust and consistent revenue growth along with the steady margin improvement in this business. So, coming to feed, Orgafeed recorded revenue growth of 25.9% on year-on-year.
We continue to focus on improving operational efficiencies across sourcing and costs, while strengthening our presence in Eastern Africa with driving long- term growth in this business. Now speaking on our expansion initiatives, our Maharashtra Greenfield project is progressing, as per the plan and time lines for commercial operations remain intact. As part of our Eastern India expansion strategy, we continue to able
The cumulative impact of this easing on working capital costs, farm credit, and consumer borrowing conditions will continue to play out through 2026-27. [Source: RBI Monetary Policy Report, April 2026] Corporate Overview Statutory Reports Financial StatementsAnnual Report 2025-26 Dodla Dairy Limited 119 Management Discussion and Analysis (Contd.) External Sector India’s merchandise exports grew at approximately 0.93%
Along with revenue growth, our profitability also improving steadily. We are confident in achieving robust and consistent revenue growth along with the steady margin improvement in this business. So, coming to feed, Orgafeed recorded revenue growth of 25.9% on year-on-year.
Manish Jain: Wanted to congratulate you on the great work that you all have done on direct procurement, in fact that is getting hidden in the numbers that you have shared. So especially the kind of market share gains that you all have done from leading competing dairy companies in the area you're operating in. So really came to understand how you all are managing to create a very powerful procurement in your areas in
Initiatives such as the National Programme for Dairy Development are strengthening procurement networks, processing infrastructure, and rural livelihoods, while improving access to credit and productivity. • Direct procurement from over 1.3 lakh farmers across 10,970+ villages through 8,050+ village-level collection centres (VLCCs) • Backward integration through Orgafeed, supplying quality feed adjusted against milk
Going ahead, we expect some modernization in the procurement cost from Q2 onwards, leading to start a gradual recovery in the margin profile for upcoming quarters. We are Dodla Dairy Limited July 27, 2026 Page 5 of 20 confident to mitigate this near-term pricing pressure and remain focused on effective execution and achieving our long-term objectives, while delivering profitability growth. Murali Mohan Raju, our CFO,
Murali is from a financial point of view, what key risks or challenges do you anticipate in the coming quarters? And what specific measures are being taken to manage margins, cash flow and balance sheet strength, especially in are as like raw milk procurement cost, receivables and regulatory compliance? So basically, its depends on how much you could be able to pass it on the cost inflation to the consumers.
The energy shock materialised in early CY 2026, when the re-escalation of the West Asia conflict and disruption to regional energy supply routes drove Brent prices sharply higher, erasing the disinflationary tailwind that had supported consumer purchasing power and monetary easing through the prior year. Emerging Markets and Developing Economies (EMDEs) are projected to expand at 3.9% in CY 2026 and 4.2% in CY 2027,
Regarding inventory, we still have to wait and watch. I don't think we have insufficient inventory buildup happening for us on our own come for the next year. We might have to end up being a net buyer.
Notice convening the 31 st AGM includes the above- mentioned proposal for re-appointments and the requisite disclosures under Section 102 of the Act, Regulation 36 of the SEBI Listing Regulations and Secretarial Standard-2 on General Meetings issued by the Institute of Company Secretaries of India. KEY MANAGERIAL PERSONNEL (KMP) In terms of provisions of section 203 of the Act, following were the KMPs of the Company
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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