Dodla Dairy Ltd Share Price – NSE  /  BSE

FMCG, Small Cap

Dodla Dairy has appointed Murali Mohan Raju as Chief Financial Officer (CFO) of the company with effect from 12 February 202.

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Profit before tax in Q3 FY24 stood at Rs 69.64 crore, registering a growth of 58.5% from Rs 43.94 crore recorded in the corresponding quarter previous year.

In Q3 FY24, total expenses rose 7.03% YoY to Rs 682.91 crore. Cost of materials consumed stood at Rs 657.71 crore (up 34.69% YoY) while employee benefit expenses was at Rs 33.48 crore (up 6.36% YoY) during the quarter.

EBITDA grew by 54.5% YoY to Rs 82.8 crore whereas EBITDA margin expanded by 315 bps YoY to 11.1% during the period under review.

The company's domestic business grew by 13.3% YoY to Rs 700.7 crore whereas, the International business revenues stood at Rs 46.1 crore in Q3 FY24.

During the quarter, average milk procurement during Q3 FY24 was at 17.5 LLPD as compared to 12.8 LLPD (lakh liter per day) in Q3 FY23, registering 36.7% YoY growth. Average milk sales during Q3 FY24 stood at 10.7 LLPD. Curd sales during Q3 FY24 was at 291.7 MTPD as compared to 259.9 MTPD in Q3 FY23, increasing by 12.3% YoY.

Revenue from value added products (VAP) including fat & fat-based products grew by 21.5% YoY to Rs 186.3 crore in Q3 FY24 as against Rs 153.3 crore in Q3 FY23. VAP including fat & fat-based products contribution stood at 25.6% of the overall dairy revenue during Q3 FY24 as compared to 23.1% contribution of the overall dairy revenue during Q3 FY23.

Dodla Sunil Reddy, managing director of Dodla Dairy said, “The company continued to strengthen its procurement capabilities during the quarter achieving its highest procurement at 17.5 LLPD, registering a growth of 36.7% YoY. Dodla Dairy’s revenues grew by 12.0% YoY to Rs 23,380 Mn in 9M FY24. The company value added products (VAP) and fat & fat products sales continued its growth momentum clocking 15.3% YoY growth at Rs 6,402 Mn, thanks to robust distribution network and strong brand recall. Dodla Dairy’s VAP sales pie expanded 95 bps YoY to 28.0% of the overall revenues in 9M FY24.”

Dodla Dairy is a leading Indian dairy company. They procure, process, and sell a wide range of milk and milk products. With operations in multiple states, including international operations in Uganda and Kenya, Dodla Dairy has a strong distribution network of milk chilling centers, sales offices, agents, distributors, and retail parlors. Their diverse product portfolio includes milk, butter milk, ghee, curd, paneer, flavored milk, and more.

The scrip hit a record high of Rs 1,057.20 in today’s intraday session.

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Net profit of Dodla Dairy rose 16.78% to Rs 41.33 crore in the quarter ended December 2023 as against Rs 35.39 crore during the previous quarter ended December 2022. Sales rose 10.57% to Rs 746.84 crore in the quarter ended December 2023 as against Rs 675.43 crore during the previous quarter ended December 2022.

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Dodla Dairy announced that Country Delight Dairy (wholly owned subsidiary of Dodla Dairy) commenced new manufacturing of Dairy plant at P.O.Box 1446-20300, Plot No: V/80, Boiman Road, Nyahururu Town, Laikipia County, Kenya and the capacity of the new plant is 1,00,000 liters per day.

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