Dodla Dairy Ltd. · NSE:DODLA
Dodla Dairy — Q1 FY26 Earnings Presentation
51 slides from Dodla Dairy's earnings presentation, Jul 21, 2025
Slide 1: Exchange filing cover letter
Date: 21 July 2025 The General Manager The Manager Department of Corporate Services Listing Department BSE Limited National Stock Exchanges of India Limited Phiroze Jeejeebhoy Towers "Exchange Plaza", 5th Floor, Dalai Street, Fort Plot No.C/1, G Block Mumbai-400 001 Bandra-Kurla Complex Bandra (East
Slide 2: Dodla Dairy Limited Investor Presentation Q1 FY26
Dodla Dairy Limited Investor Presentation Q1 FY26
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Dodla Dairy Ltd (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, a
Slide 4: Q1FY26 Performance
₹ 10,069 Mn ₹ 825 Mn ₹ 629 Mn Highest Ever Quarterly Revenue 8.2% Margin 6.2% Margin Revenue EBITDA PAT Q1FY26 Performance Highest Ever (on a consolidated basis) Annual Performance (on a consolidated basis) 3
Slide 5: Management commentary
Management commentary “In Q1FY26, Dodla registered a highest-ever revenue of Rs. 10,069 Mn with a YoY growth of 10.5%; this coincided with our highest-ever procurement of 18.7 LLPD. Several factors influenced our performance during this period. Our Indian operations were impacted due to a shorter su
Slide 6: Executive Summary for Q1FY26 (consolidated)
Executive Summary for Q1FY26 (consolidated) 1. Volume Highlights India Dairy Business Highlights Highest ever Milk Procurement volume of 18.7 LLPD up 6.2% YoY There were seasonal variations while comparing the performance of Q1FY26 with Q1FY25, Average Milk Sales volume stood at 11.9 LLPD, an
Slide 7: Financial Highlights Consolidated (Q1 FY26)
Financial Highlights Consolidated (Q1 FY26) Operating Revenue (in ₹ Mn) Gross Profit (in ₹ Mn & Margin %) EBITDA (in ₹ Mn & Margin %) PAT (in ₹ Mn & Margin %) % 29.1 27.2 25.8 % 11.5 9.2 8.2 % 7.1 7.5 6.2 Q1FY26 10,069 9,116 9,096 2,656 2,472 2,595 1,051 835 825 650 680 629 Q1FY25 Q4FY25 Q1FY26 Q1FY
Slide 8: Quarter-wise Historical Operational Highlights
Quarter-wise Historical Operational Highlights Average Milk Procurement Average Milk Sales Curd Sales (in MTPD) VAP Sales (in ₹ Mn) (in LLPD) (in LLPD) % 35.4 39.2 32.3 32.4 36.2 Sales Contribution 18.7 467.4 452.3 17.6 3,780 17.2 17.1 3,516 16.3 11.7 11.9 11.3 11.6 11.6 383.2 3,139 2,812 2,841 323.
Slide 9: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (in ₹ Mn) Q1 FY26 Q1 FY25 YoY Q4 FY25 QoQ Gross Profit margins impacted: Revenue 10,069 9,116 10.5% 9,096 10.7% Higher than usual bulk sale at declining prices Cost of Goods Sold 7,473 6,460 6,625 Gross Profit 2,595 2,656 -2.3% 2,472 5.0% Lower de
Slide 10: Proposed acquisition of HR Food Processing Private Limited (Osam)
Proposed acquisition of HR Food Processing Private Limited (Osam)
Slide 11: About HR Food Processing Private Limited (Osam)
About HR Food Processing Private Limited (Osam) HR Food Processing Private Limited operates under the premium brand 'Osam' and has established a strong presence in Bihar, Jharkhand, and other eastern dairy markets of India. The company operates a vertically integrated supply chain that ensures full
Slide 12: Osam: Snapshot
Osam: Snapshot FY25 Financial Snapshot Contributing ~72% of FY25 Operating (₹ Mn) Revenue Gross Profit margin 16.8% 21.4% 24.7% 2,826 2,486 2,545 Milk Revenue Toned Standard High Fat FY23 FY24 FY25 Contributing ~28% of FY25 Operating Revenue by channel Revenue (FY25) 1.0% 0.2% 3.0% GT Distributor 13
Slide 13: Osam: Promising Dairy Player In The Eastern Indian Market
Osam: Promising Dairy Player In The Eastern Indian Market Organizing market and strengthening foothold Caters to demand from Revenue Split Average Milk Procurement in the high capital income growth regions (FY25) 19 Districts of Jharkhand 44% Jharkhand 23 Districts of Bihar 1.1 LLPD 56% Bihar Supply
Slide 14: Strategic fit to Dodla
Strategic fit to Dodla The Acquisition represents a compelling opportunity to expand our market position in Dairy Sector by expanding our geographical footprint in East India and to achieve Significant operational Synergies Growth Distribution Acquisition is well-aligned with Robust distribution
Slide 15: Eastern India Growing Faster Than National Average
Eastern India Growing Faster Than National Average; Demand Continues To Outstrip Supply Supports a large population, East India is an Indian growth With rising income levels and Market is transitioning from & milk consumption has immense pocket with urbanization potential developments in infrastruct
Slide 16: About Us
₹ 9,096 Mn ₹ 835 Mn | 9.2% ₹ 835 Mn | 9.2% 15.5 % YoY 10.7% YoY 10.7% YoY Revenue About Us EBITDA PAT Highest Ever Annual Healthy Annual Performance Performance (on a consolidated basis) (on a consolidated basis) 15
Slide 17: Dodla Dairy Ltd.: At a glance
Dodla Dairy Ltd.: At a glance Unique positioning in the dairy segment with presence in the Indian and the African markets along with Orgafeed India Business Africa Business Orgafeed Founded in 1995, Dodla Dairy is an integrated (Uganda & Kenya) Orgafeed is primarily engaged in the business dairy com
Slide 18: Dodla Dairy Limited: Snapshot
Dodla Dairy Limited: Snapshot Consolidated Standalone 65+ 2,193 2,960+ 40+ 1,800+ 2,750+ Sales offices Milk and milk product Agents Sales offices Milk and milk product Agents distributors distributors 24+ 16 913 20+ 14 867 LLPD aggregate Processing Dodla Retail LLPD aggregate Processing Dodla Retail
Slide 19: Africa Business: Snapshot
Africa Business: Snapshot Presence in Africa (Kenya & Uganda) Salient Features Operates in Uganda through its subsidiary Lakeside Dairy Ltd Dairy player margins are higher due to limited competition and constrained supply of Operates in Kenya through its subsidiaries, Dodla processed milk Dairy
Slide 20: Financial Performance: Snapshot
Financial Performance: Snapshot Consolidated (in ₹ Mn & Margin %) Standalone (in ₹ Mn & Margin %) % 11.5 9.6 10.6 9.2 8.2 % 10.0 9.6 10.3 8.3 6.8 9,976 10,069 9,116 9,012 9,096 9,032 9,007 8,279 8,026 8,079 1,051 963 959 835 825 828 866 826 671 615 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q1FY25 Q2FY25 Q3
Slide 21: Orgafeed: Snapshot
Orgafeed: Snapshot Financial Performance (in ₹ Mn & Margin %) 480 MTPD ₹ 411 Mn ₹ 72 Mn % 12.4 13.7 14.1 18.5 17.6 Cattle feed plants Operating revenue in EBITDA in capacity Q1FY26 Q1FY26 411 Orgafeed is primarily engaged in the business of seed crushers, manufacturing and 348 338 dealing of groundn
Slide 22: Processing Plants Across South India and Africa
Processing Plants Across South India and Africa Location Installed Capacity(LPD) Nellore Settenapalle 2,22,300 46,700 International Plants Rajahmundry 1,43,600 Palamaner 3,81,780 Penumur 1,00,000 Badvel 50,000 Uganda Location Installed Capacity (LPD) Kenya Indragi 2,00,000 Dodderi 40,000 Kirwatti 2,
Slide 23: Journey So Far: 30 years of dairy operations
Journey So Far: 30 years of dairy operations • Investment by The Rise Fund (TGP) as it acquired • IFC invested • Commissioned New stake of Black River * ~INR1,000Mn Orgafeed Plant Incorporation of Badvel and Investment by Black • Gundrampally, Hyderabad, • Listed on BSE & • Commissioned Dodla Dairy
Slide 24: Robust Infrastructure – Farms to Families
Robust Infrastructure – Farms to Families Pan-Regional Manufacturing Presence Integrated Procurement and Processing Model Presence Across Dairy Value Chain Dairy Farm Chilling Centres Processing Plants Procurement of Raw Milk from Transportation from Villages 16 Milk Processing Plants across 1
Slide 25: Key Highlights Enabling Dodla to Deliver Competitive Advantage
.. Enabling Dodla to Deliver Competitive Advantage Milk Procurement 17.1 All dairy processors have access to the same raw FY25 24.3 material and equipment; what distinguishes us is 15.8 our dedicated employees and our strong relationship with farmers 16.8 FY24 24.1 14.6 Key Highlights Processing c
Slide 26: Comprehensive Product Portfolio
Comprehensive Product Portfolio Pasteurized Pouch Milk Curd UHT Milk Flavored Milk Milk-Based Sweets Full cream, Standardized Milk, Sachet Curd, Bucket Curd, Cup Toned, Double Toned Badam, Strawberry, Pista, Chocolate Doodhpeda, Gulab Jamun, Sona Toned Curd Papidi, Milk Cake and Basundhi Paneer & Ch
Slide 27: Seasonality Factor
Seasonality Factor FY23 FY24 FY25 FY26 Milk Procurement LLPD Milk Sales LLPD Curd Sales MTPD 18.7 17.6 16.9 17.2 17.5 17.1 16.7 16.3 11.3 15.9 11.9 10.9 11.6 14.8 11.1 10.7 11.6 10.8 11.7 14.3 10.9 10.8 467 12.8 13.5 10.4 10.5 440 452 426 360 383 309 324 292 307 318 292 260 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q
Slide 28: Board of Directors
Board of Directors Akshay Tanna Dodla Sesha Reddy Dodla Sunil Reddy Madhusudhana Reddy Ambavaram Non-Executive Non-Independent Chairman & Non-Executive Director Managing Director Whole-time Director Director He has more than 60 He has been leading the He has over 30 years of He is currently Partner
Slide 29: Strong Management Team
Strong Management Team A MA 29+ Years Average Management Experience in Diversified MADHUDHUSUDHANA SURESH SUBRAMANIAN LAXMA REDDY RAKESH RAMNANI Industries REDDY Head HR & Legal Head Procurement Head Production Head Sales & Marketing BVK REDDY 5 Years Chief Executive Officer Average Employee Experie
Slide 30: Competitive Advantages
es itive Advantag Competitive A (<3 y | — ss “win sit
Slide 31: Key Strengths
Key Strengths Strong Presence End to end integrated dairy company in South India International Presence Consistent product quality Operations in Uganda and An extensive Product Portfolio Kenya (Milk-Based value-added Products) Branding Production Capacity Higher B2C Sales through strong branding 16
Slide 32: Stringent Quality Control Procedures
Stringent Quality Control Procedures Well Defined Quality and Food Safety Procedures at Various Stages from Procurement to Distribution Procurement Stage Processing Stage VLCCs equipped with GPRS enabled electronic milk analyzers At chilling centers and processing plants, the raw milk undergoes
Slide 33: Focused Engagement and Long-Term Relationship with Dairy Farmers
Focused Engagement and Long-Term Relationship with Dairy Farmers Regular direct payment Tie up with veterinarians Money paid directly to farmers in Organize training camps to educate their bank accounts once every 10 about ways to prevent common to 15 days ailments for cattle ~94% of total far
Slide 34: Investment Rationale
Investment Rationale 01 Integrated 02 Automated 03 Backward 04 Proven track 05 Robust 06 Multiple supply chain Plants integration record balance sheet growth levers Strong Direct Fully automated Presence in cattle Proven track record Strong cashflows led Strong growth procurement model, plants leadi
Slide 35: Dodla's ESG Commitment
Dodla’s ESG Commitment Water Stewardship Waste Management Energy and Emissions Management Water plays a crucial role in every aspect of our dairy We’ve made significant strides in integrating renewable energy into operations, from equipment cleaning to processing and our operations. Solar panels
Slide 36: Way Forward
Way Forward
Slide 37: Strategic Priorities
Strategic Priorities Deepening Our Expanding Our Strengthening the Brand and Focusing on VAP Direct Procurement Production Capacity Expanding Reach Products Model 36
Slide 38: Value-added Products (VAP) Trajectory
Value-added Products (VAP) Trajectory VAP Sales (in ₹ Mn)* Strong distribution network FY25 9,735 The company already has a strong distribution network in southern states for milk as well as value added products through which it can roll out existing and upcoming products FY24 8,181 FY23 6,957 Vas
Slide 39: Raising the Visibility Quotient – TV and other mediums
Raising the Visibility Quotient – TV and other mediums Brand Building Initiatives Aired television commercials (TVC) on leading regional TV channels and popular digital platforms for the first time, capturing the celebratory spirit of consumers Penetrate deeper in the market through the go-to-ma
Slide 40: Enhancing brand presence on Social Media
Enhancing brand presence on Social Media 39
Slide 41: Expanding footprint across E–commerce and Modern trade
Expanding footprint across E–commerce and Modern trade NOTE: The Brand Names and Logos mentioned are the property of their respective owners and are used here for identification purposes only 40
Slide 42: Historical Financials
FLA A PAVOURED MIL | i Historical Finmanctals cious as WK
Slide 43: Year-wise Historical Operational Highlights
Year-wise Historical Operational Highlights Average Milk Procurement Average Milk Sales Curd Sales (in MTPD) (in LLPD) (in LLPD) VAP Sales (in INR Mn) % 27.2 25.2 26.6 28.3 35.0 Sales Contribution 16.8 17.1 11.6 370.0 12,572 10.7 10.9 349.9 323.8 13.8 9.3 12.5 8.5 269.8 8,619 10.8 223.8 7,408 5,878
Slide 44: Margin Accretive Growth Over The Years
Margin Accretive Growth Over The Years Revenue (in ₹ Mn) EBITDA (in ₹ Mn & Margin %) PAT (in ₹ Mn & Margin %) Debt to Equity ▲18% ▲12% ▲20% ▲13% CAGR (FY21-25) CAGR (FY21-25) CAGR (FY21-25) CAGR (FY21-25) 37,201 % 12.5 10.2 % 6.5 7.0 3,808 0.18 2,599 19,440 2,425 1,260 0.03 FY21 FY25 FY21 FY25 FY21
Slide 45: Financial Highlights
Financial Highlights Average Milk Contributing Average Milk Sales Curd Sales Value Added Products 35% to the Procurement Topline FY25 17.1 LLPD 11.6 LLPD 370.0 MTPD ₹ 12,572 Mn ▲ 1.7% YoY ▲ 6.7% YoY ▲ 5.7% YoY ▲ 45.9%YoY Operating Revenue (in ₹ Mn) Gross Profit (in ₹ Mn & Margin %) EBITDA (in ₹ Mn &
Slide 46: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Common Size Particulars (in ₹ Mn) FY25 FY24 FY23 FY22 FY21 FY25 FY24 FY23 FY22 FY21 Revenues 37,201 31,255 28,120 22,434 19,440 100.0 100.0 100.0 100.0 100.0 Cost of Goods Sold 26,990 22,821 21,409 16,262 13,509 72.6 73.0 76.1 72.5 69.5 Gross Profit* 10,211 8,433
Slide 47: Consolidated Balance Sheet
Consolidated Balance Sheet Equity & Liabilities (in ₹ Mn) FY25 FY24 FY23 FY22 FY21 Assets (in ₹ Mn) FY25 FY24 FY23 FY22 FY21 Equity 14,060 11,389 9,722 8,432 6,580 Non-current Assets 8,063 7,693 7,775 6,869 5,703 Non-current Liabilities 757 767 636 576 1,197 Current Liabilities 2,491 2,621 2,156 1,8
Slide 48: Key Ratios – Full Year
Key Ratios – Full Year Cash & Cash Equivalent (in ₹ Mn) & Receivable Days / Payable Days Networth (in ₹ Mn) & ROCE (%) Debt (in ₹ Mn) & Debt / Equity ROE % /NWC Days % 24.7 19.2 14.9 20.4 24.4 % 23.1 17.6 13.5 15.8 20.4 0.18 0.02 0.04 0.04 0.03 4 5 0 40 2 Payable Days Receivable Days NWC 14,060 Days
Slide 49: Capital Market Information
Capital Market Information Key Investors as on 30th June 2025 (% of Total Equity) SBI Mutual Funds 7.91 DSP Small Cap Fund 6.60 Bharat Biotech International Ltd 3.36 Steinberg India Emerging Opportunities Fund 1.96 37,000+ Ashoka Whiteoak India Opportunities Fund 1.97 HDFC Small Cap Fund 1.53 Fideli
Slide 50: Glossary
Glossary LLPD Lakhs Liter per day LPA Liters Per Annum MTPD Metric Tonnage Per Day MT Metric Ton UHT Ultrahigh Temperature Processed Milk Value- added Product VAP milk VLCC Village Level Collection Centers FII Foreign Institutional Investor DRP Dodla Retail Parlours 49
Slide 51: For More Details Contact us
For More Details Contact us: Company: Investor Relations Advisor: Dodla Dairy Limited Strategic Growth Advisors Pvt Ltd. CIN: L1509TG1995PLC020324 CIN: U74140MH2010PTC204285 Surya Prakash Mungelkar Shikha Puri / Dharmik Kansara Email id: investorqueries@dodladairy.com Email id: shikha.puri@sgapl.net