DODLA

Dodla Dairy Limited

Dairy products and cattle feed manufacturer with operations in Africa

Fast Moving Consumer Goods›Fast Moving Consumer Goods›Food Products›Dairy Products

dodladairy.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1004.40
Market cap
6,056 Cr
Stock P/E
24.7
P/B
3.62
Dividend yield
0.2%
ROE (FY26)
15.9%
ROCE (FY26)
16.7%
Operating margin (FY26)
5.5%
Debt / equity (FY26)
0.02
OCF / EBITDA (FY26)
95.6%
OCF / EBITDA (3Y)
83.2%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Dodla Dairy buys milk directly from farmers and sells liquid milk and value-added dairy products such as ghee, mainly in southern India, with growing operations in East and West India and in Kenya and Uganda.

Company snapshot

4thBy market cap

Ranked among 8 companies in Dairy Products.

What we see

Positives
  • ✓Debt-to-equity of 0.02x — the company is largely funded by its own money, not borrowed funds.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales768 Cr747 Cr787 Cr912 Cr998 Cr901 Cr910 Cr1,007 Cr1,019 Cr1,025 Cr1,074 Cr1,198 Cr
Operating expenses (approx.)698 Cr664 Cr712 Cr806 Cr901 Cr805 Cr826 Cr924 Cr926 Cr946 Cr1,021 Cr1,133 Cr
EBITDA70 Cr83 Cr75 Cr105 Cr96 Cr96 Cr84 Cr83 Cr93 Cr79 Cr54 Cr65 Cr
OPM %9.1%11.1%9.6%11.5%9.6%10.6%9.2%8.2%9.1%7.7%5.0%5.4%
Other income7 Cr6 Cr8 Cr7 Cr10 Cr11 Cr26 Cr17 Cr11 Cr12 Cr20 Cr14 Cr
Interest0.40 Cr0.88 Cr0.76 Cr1 Cr0.84 Cr0.94 Cr0.87 Cr0.69 Cr0.83 Cr0.84 Cr0.99 Cr0.95 Cr
Depreciation17 Cr18 Cr18 Cr18 Cr19 Cr20 Cr18 Cr18 Cr21 Cr22 Cr22 Cr23 Cr
Profit before tax59 Cr70 Cr64 Cr93 Cr86 Cr86 Cr90 Cr81 Cr83 Cr63 Cr54 Cr55 Cr
Tax %26.5%40.6%27.0%29.9%26.5%26.4%24.7%22.4%20.7%-9.5%-28.7%25.7%
Net profit44 Cr41 Cr47 Cr65 Cr63 Cr64 Cr68 Cr63 Cr66 Cr69 Cr70 Cr41 Cr
EPS (₹)₹7.33₹6.95₹7.87₹10.93₹10.54₹10.54₹11.27₹10.42₹10.89₹11.39₹11.56₹6.74

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,590 Cr1,692 Cr2,139 Cr1,944 Cr2,243 Cr2,812 Cr3,125 Cr3,720 Cr4,125 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,478 Cr1,558 Cr1,998 Cr1,702 Cr2,033 Cr2,621 Cr2,837 Cr3,339 Cr3,817 CrSign in free for the trailing twelve months
EBITDA113 Cr134 Cr141 Cr242 Cr211 Cr191 Cr289 Cr381 Cr308 CrSign in free for the trailing twelve months
OPM %7.1%7.9%6.6%12.5%9.4%6.8%9.2%10.2%7.5%Sign in free for the trailing twelve months
Other income7 Cr8 Cr6 Cr6 Cr14 Cr23 Cr27 Cr53 Cr60 CrSign in free for the trailing twelve months
Interest11 Cr12 Cr16 Cr12 Cr7 Cr1 Cr2 Cr4 Cr3 CrSign in free for the trailing twelve months
Depreciation28 Cr37 Cr49 Cr51 Cr52 Cr61 Cr70 Cr75 Cr82 CrSign in free for the trailing twelve months
Profit before tax80 Cr93 Cr82 Cr186 Cr166 Cr152 Cr244 Cr356 Cr281 CrSign in free for the trailing twelve months
Tax %29.3%32.7%39.1%32.4%19.8%19.5%31.6%26.9%4.9%Sign in free for the trailing twelve months
Net profit57 Cr63 Cr50 Cr126 Cr133 Cr122 Cr167 Cr260 Cr267 CrSign in free for the trailing twelve months
EPS (₹)₹10.21₹11.27₹8.96₹22.48₹22.43₹20.55₹28.03₹43.27₹44.26Sign in free for the trailing twelve months
Dividend payout %———8.5%0.0%0.0%0.0%7.0%4.5%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital3 Cr56 Cr56 Cr58 Cr59 Cr59 Cr59 Cr60 Cr60 Cr
Reserves336 Cr351 Cr378 Cr600 Cr784 Cr913 Cr1,079 Cr1,346 Cr1,614 Cr
Borrowings117 Cr142 Cr127 Cr53 Cr13 Cr22 Cr46 Cr42 Cr30 Cr
Other liabilities153 Cr204 Cr240 Cr261 Cr232 Cr258 Cr293 Cr282 Cr393 Cr
Total liabilities609 Cr752 Cr800 Cr972 Cr1,088 Cr1,251 Cr1,478 Cr1,731 Cr2,096 Cr
Fixed assets (net)326 Cr451 Cr482 Cr496 Cr515 Cr559 Cr654 Cr695 Cr800 Cr
CWIP16 Cr11 Cr11 Cr8 Cr4 Cr58 Cr12 Cr12 Cr109 Cr
Investments67 Cr26 Cr12 Cr70 Cr184 Cr260 Cr196 Cr644 Cr411 Cr
Loans & advances———4 Cr0.48 Cr0 Cr0 Cr0 Cr0 Cr
Inventories134 Cr125 Cr120 Cr96 Cr121 Cr120 Cr389 Cr162 Cr155 Cr
Trade receivables4 Cr7 Cr7 Cr5 Cr5 Cr9 Cr11 Cr12 Cr14 Cr
Cash & bank14 Cr21 Cr69 Cr124 Cr110 Cr75 Cr103 Cr90 Cr81 Cr
Other assets48 Cr110 Cr99 Cr169 Cr149 Cr171 Cr112 Cr116 Cr526 Cr
Total assets609 Cr752 Cr800 Cr972 Cr1,088 Cr1,251 Cr1,478 Cr1,731 Cr2,096 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity87 Cr136 Cr166 Cr245 Cr171 Cr161 Cr-0.71 Cr520 Cr295 Cr
Cash from investing-66 Cr-148 Cr-77 Cr-200 Cr-138 Cr-214 Cr30 Cr-528 Cr-286 Cr
Cash from financing-41 Cr60 Cr-26 Cr11 Cr-49 Cr15 Cr-1 Cr-8 Cr-25 Cr
Net cash flow-20 Cr48 Cr63 Cr55 Cr-14 Cr-35 Cr28 Cr-14 Cr-12 Cr
Free cash flow (OCF − Capex)16 Cr38 Cr70 Cr188 Cr99 Cr52 Cr-107 Cr410 Cr133 Cr

Ratios

MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %20.0%19.1%17.5%27.9%20.1%15.4%20.8%24.8%16.7%
ROE %16.8%15.4%11.5%19.1%15.8%12.6%14.6%18.5%15.9%
Debtor days121111111
Inventory days383728262721552419
Days payable182218232322212323
Cash conversion cycle21161135-0352-3
OCF / EBITDA %77.6%101.1%117.5%101.1%81.2%84.0%-0.2%136.5%95.6%
OCF / EBITDA % (3 years)——100.2%105.5%97.9%89.5%47.9%79.0%83.2%
Debt / equity0.340.350.290.080.020.020.040.030.02
Current ratio1.081.070.992.072.152.202.703.712.44
Net debt / EBITDA0.910.900.41-0.29-0.46-0.28-0.20-0.12-0.17