Dodla Dairy announced that the 28th Annual General Meeting (AGM) of the company will be held on 8 July 2023.

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Cost of goods sold increased by 29.7% YoY to Rs 569.4 crore in the fourth quarter. Employee expenses amounted to Rs 29.9 crore (up 14.8% YoY) while other expenses added up to Rs 91.3 crore (up 17.4% YoY).

EBITDA declined by 28.1% to Rs 33.7 crore in Q4 FY23 from Rs 46.9 crore in Q4 FY22. EBITDA margin was 4.7% in Q4 FY23 as against 8% in Q4 FY22.

Earnings before tax after other income in Q4 FY23 was Rs 25 crore, down by 33.7% from Rs 37.7 crore in Q4 FY22.

The company recorded 7.9% fall in consolidated PAT to Rs 122.3 crore despite a 25.3% jump in revenues to Rs 2,812 crore in FY23 as compared with FY22.

Dodla Sunil Reddy, managing director of Dodla Dairy, said: “The company successfully navigated multiple sectoral challenges and delivered growth in both domestic and international operations with 23.3% YoY and 55.2% YoY, respectively in FY23.

Dodla Dairy's Africa business is shaping up well. We will continue to reap the benefits of our international presence in the coming years.

The company's value-added products (VAP) sales surged by 26% YoY to Rs 740.8 crore owing to the strong brand recall and wide distribution network. Dodla's VAP sales contributed 26.8% to the overall revenues in FY23.”

Dodla Dairy is one of India's leading integrated dairy companies. The company procures, processes, and sells milk and milk products. The company's product portfolio consists of milk, butter milk, ghee, curd, paneer, flavoured milk, doodh peda, ice cream and milk based sweets. The company's procurement is centred in 5 states and products are available for purchase in 9 states and has 118 milk chilling centres/plants. The company also has international operations in Uganda and Kenya.

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Net profit of Dodla Dairy declined 44.34% to Rs 22.53 crore in the quarter ended March 2023 as against Rs 40.48 crore during the previous quarter ended March 2022. Sales rose 22.82% to Rs 724.28 crore in the quarter ended March 2023 as against Rs 589.72 crore during the previous quarter ended March 2022.

For the full year,net profit declined 7.93% to Rs 122.28 crore in the year ended March 2023 as against Rs 132.81 crore during the previous year ended March 2022. Sales rose 25.35% to Rs 2812.03 crore in the year ended March 2023 as against Rs 2243.35 crore during the previous year ended March 2022.

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Dodla Dairy will hold a meeting of the Board of Directors of the Company on 20 May 2023.

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