Dodla Dairy Limited has informed the Exchange about Transcript
DODLA · price
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Awaiting price reaction for this filing.
Dodla Dairy reported its highest-ever quarterly revenue of INR 1,007 crores in Q1 FY26, up 10.5% year-on-year, with EBITDA margin of 8.2% and PAT of INR 63 crores (margin 6.2%). Margins came under pressure because early monsoon hit summer demand for value-added products (curd, lassi, ice cream) while milk procurement costs rose faster than selling prices; curd volumes degrew 3.2%. The Africa business grew 26.9% in revenue at 13% EBITDA margin, impacted by a new Kenya plant running at mid-market pricing, and the Orgafeed (cattle feed) business posted strong results with 29.4% revenue growth and 17.6% EBITDA margin. The Board approved the 100% acquisition of HR Food Processing (OSAM brand) in Bihar/Jharkhand, and a INR 280 crore greenfield plant in Solapur, Maharashtra is on track. Management expects margin recovery in Q2 FY26 as lower procurement prices flow through, and guided to 10-15% revenue growth with 15-20% absolute growth in EBITDA/PAT for FY26.
Near-term margin pressure from monsoon-related demand weakness and elevated procurement costs is largely in the price; the stock may find support from the management's confident Q2 recovery guidance, the strategic OSAM acquisition expanding presence into eastern India, and strong growth in the high-margin Orgafeed segment. Inventory cleanup of SMP and butter is a positive for balance sheet quality going into the flush season.