Dodla Dairy Ltd. · NSE:DODLA
Dodla Dairy — Q3 FY25 Earnings Presentation
42 slides from Dodla Dairy's earnings presentation, Jan 30, 2025
Slide 1: Exchange covering letter for investor presentation
Date: 30 January 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 (E
Slide 2: Dodla Dairy Limited Q3 FY25 Investor Presentation
Dodla Dairy Limited Q3 FY25 Investor Presentation
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: Q3 FY25 Healthy quarterly performance
9,012 Mn Q3 FY25 ₹ Revenues 20.7% (YoY) Healthy quarterly EBITDA 959 Mn ₹ performance 15.8% I 10.6% margin (YoY) (on a consolidated basis) 636 Mn ₹ PAT 53.8% I 7.1% margin (YoY) 3
Slide 5: Management commentary
Management commentary “I am delighted to share with you that the company reported its highest-ever nine- month performance during the period with revenues of Rs. 28,104 Mn (20% YoY growth), EBITDA of Rs. 2,973 Mn (11% margin), and PAT of Rs. 1,920 Mn (7% margin). During the quarter, we reported a he
Slide 6: Financial Highlights Consolidated
Financial Highlights Consolidated Operating Revenue (in ₹ Mn) Gross Profit (in ₹ Mn & Margin %) EBITDA (in ₹ Mn & Margin %) PAT (in ₹ Mn & Margin %) 30.0 25.5 28.2 % 11.1 9.6 10.6 % 5.5 6.4 7.1 % 20.7% YoY 13.3% YoY 15.8% YoY 53.8% YoY Q3FY25 9,976 9,012 2,540 2,543 7,468 2,244 963 959 828 634 636 4
Slide 7: 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) 14.0 16.8 17.3 10.6 10.9 11.5 326.2 346.9 366.0 % 26.5 27.4 34.6 9M Average 9M Average 9M Average 9M Sales Contribution 9,729 17.1 307.0 17.5 291.7
Slide 8: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (in ₹ Mn) Q3FY25 Q3FY24 YoY 9MFY25 9MFY24 YoY Revenues 9,012 7,468 20.7% 28,104 23,380 20.2% Cost of Goods Sold 6,469 5,224 20,365 17,125 Gross Profit* 2,543 2,244 13.3% 7,739 6,255 23.7% Gross Profit margin 28.2% 30.0% 27.5% 26.8% Employee Expenses 4
Slide 9: Awards Received During The Quarter
Awards Received During The Quarter India Food Summit Bureau of Indian Standards (BIS) Inter Dairy Awards 2024 National Safety Council of India Awards 2024 Dairy Company of the Year Skimmed Milk Powder – Achieving Best Product Quality & Safety Batlangundu Plant - Best Safety Zero Failure Control Cont
Slide 10: About Us
Dodla Dairy Limited About Us
Slide 11: 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 (Uganda & Kenya) Founded in 1995, Dodla Dairy is an Dodla Dairy has extended its integrated dairy company based in footprint to
Slide 12: Dodla Dairy Limited: Snapshot
Dodla Dairy Limited: Snapshot Consolidated Standalone 55+ 2,040 2,800+ 40+ 1,720+ 2,600+ Sales offices Milk and milk product Agents Sales offices Milk and milk product Agents distributors distributors 24+ 16 775 20+ 14 742 LLPD aggregate Processing Dodla Retail LLPD aggregate Processing Dodla Retail
Slide 13: Africa Business: Snapshot
Africa Business: Snapshot Salient Features Presence in Africa (Kenya & Uganda) Dairy player margins are higher due to limited Operates in Uganda through its subsidiary Lakeside competition and constrained supply of Dairy Ltd processed milk Operates in Kenya through its subsidiaries, Dodla Dairy
Slide 14: Financial Performance: Snapshot
Financial Performance: Snapshot Consolidated (in ₹ Mn & Margin %) Standalone (in ₹ Mn & Margin %) % 11.1 9.6 11.5 9.6 10.6 % 10.9 8.5 10.0 9.6 10.3 9,976 9,116 9,012 9,032 7,874 8,279 7,468 8,026 7,280 7,007 828 1,051 963 959 754 765 621 828 866 826 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q3FY24 Q4FY24 Q
Slide 15: Orgafeed: Snapshot
Orgafeed: Snapshot Financial Performance (in ₹ Mn & Margin %) 480 MTPD ₹988 Mn ₹132 Mn % 7.4 10.5 12.4 13.7 14.1 Cattle feed plants Operating revenue in EBITDA in capacity 9M FY25 9M FY25 348 317 322 Orgafeed is primarily engaged in the business of seed crushers, manufacturing and dealing of groundn
Slide 16: Processing Plants Across South India and Africa
Processing Plants Across South India and Africa KENYA UGANDA PULLUR, KURNOOL Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, time liness or completeness. 15
Slide 17: Journey So Far: 25+ years of dairy operations
Journey So Far: 25+ 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 18: Presence Across Dairy Value Chain
Presence Across Dairy Value Chain…. Dairy Farm Processing Plants Procurement of raw milk from 1.4+ Total 16 milk processing plants in lakh farmers across 8,200+ villages India, Kenya & Uganda through 7,700+ VLCCs Company regularly incurs capex to Raw milk directly procured from upgrade technology, a
Slide 19: Key Highlights Enabling Competitive Advantage
.. Enabling Dodla to Deliver Competitive Advantage Milk Procurement MILK PROCUREMENT All dairy processors have access to the same raw 16.8 ▪ All dairymaterial processors FY24 24.1 and have accesswhat equipment; to the same raw material distinguishes us is 14.6 and equipment; whatemployees our dedi
Slide 20: 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, Toned, Double Toned Badam, Strawberry, Pista, Doodhpeda, Gulab Jamun, Sona Toned Cup Curd Chocolate Papidi, Milk Cake and Basundhi Paneer & Ch
Slide 21: Seasonality Factor
Seasonality Factor FY22 FY23 FY24 FY25 Milk Procurement LLPD Milk Sales LLPD Curd Sales MTPD 17.6 17.5 17.1 16.9 17.2 16.7 15.9 14.8 14.3 10.9 11.6 10.7 11.6 13.5 11.1 11.3 10.9 10.5 10.8 10.8 12.8 12.4 12.8 10.4 440 467 12.3 12.3 9.5 9.9 9.7 426 8.3 309 292 360 324 318 294 292 260 307 288 252 245 Q
Slide 22: Board of Directors
Board of Directors Akshay Tanna Dodla Sesha Reddy Dodla Sunil Reddy Madhusudhana Reddy Non-Executive Non-Independent Chairman & Non-Executive Director Managing Director Ambavaram 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 23: Strong Management Team
Strong Management Team 29+ Years A MA Average Management Experience in Diversified Industries MADHUDHUSUDHANA REDDY SURESH SUBRAMANIAN LAXMA REDDY RAKESH RAMNANI Head HR & Legal Head Procurement Head Production Head Sales & Marketing BVK REDDY 35 Years Chief Executive Officer Average Employee Age 34
Slide 24: Competitive Advantages
Competitive Advantages med, (lous DRINK
Slide 25: Key Strengths
Key Strengths Strong Presence End to end integrated dairy company in South India International Consistent product Presence quality Operations in Uganda An extensive Product and Kenya Portfolio (Milk-Based value- added Products) Branding Production Higher B2C Sales Capacity through strong branding 16
Slide 26: 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 27: 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 ~92% of total far
Slide 28: Investment Rationale
Investment Rationale c ar a c cep t able si n a ture check appr o ed c alcu l a te l o an Integrated supply chain Proven track record Strong Direct procurement model, eliminating Proven track record of successfully integrating middleman, reducing s t an d ard the cost m o tiofaprimary tion raw p
Slide 29: Dodla's ESG Commitment
Dodla’s ESG Commitment Environment We believe that preserving and rebuilding the environment is crucial in providing opportunities for future generations We are dedicated to producing dairy products in a manner that is humane toward people, animals, and the environment, as well as beneficial to
Slide 30: Way Forward
Way Forward
Slide 31: Strategic Priorities
Continuous effort towards higher procurement, 01 and widening distribution Strategic Priorities Curated focus towards value added products 02 (VAP) Focused brand connecting activities amongst 03 consumers, robust distribution network and strong brand recall value Achieve optimum capacity utilization
Slide 32: Value-added Products (VAP) Trajectory
Value-added Products (VAP) Trajectory VAP Sales (in ₹ Mn)* Strong distribution network FY24 8,181 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 FY23 6,957 FY22 5,254 Vas
Slide 33: Raising the Visibility Quotient
Raising the Visibility Quotient Brand Building Initiatives Aired television commercials (TVC) on the leading regional TV channels and popular digital channels for the first time capturing the festive vibes of consumers during Makar Sankranti/Pongal festival Penetrate deeper in the market through
Slide 34: Historical Financials
Historical Financials
Slide 35: Year-wise Historical Operational Highlights
Year-wise Historical Operational Highlights Average Milk Procurement Average Milk Sales Curd Sales (in MTPD) VAP Sales (in INR Mn) (in LLPD) (in LLPD) % 27.2 25.2 26.6 26.8 28.3 Sales Contribution 16.8 10.7 10.9 349.9 8,619 9.9 323.8 9.3 292.5 7,408 13.8 12.5 8.5 269.8 12.1 5,794 5,878 10.8 223.8 4,
Slide 36: Financial Highlights
Financial Highlights Contributing Average Milk Procurement Average Milk Sales Curd Sales Value Added Products 28.3% to the Topline FY24 16.8 LLPD 10.9 LLPD 349.9 MTPD ₹ 8,619 Mn ▲ 21.2% YoY ▲ 1.6% YoY ▲ 8.1% YoY ▲ 16.3%YoY Operating Revenue (in ₹ Mn) Gross Profit (in ₹ Mn & Margin %) EBITDA (in ₹ Mn
Slide 37: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Common Size Particulars (in ₹ Mn) FY24 FY23 FY22 FY21 FY20 FY24 FY23 FY22 FY21 FY20 Revenues 31,255 28,120 22,434 19,440 21,394 100.0 100.0 100.0 100.0 100.0 Cost of Goods Sold 22,821 21,409 16,262 13,509 16,406 73.0 76.1 72.5 69.5 76.7 Gross Profit* 8,434 6,711
Slide 38: Consolidated Balance Sheet
Consolidated Balance Sheet Equity & Liabilities (in ₹ Mn) FY24 FY23 FY22 FY21 FY20 Assets (in ₹ Mn) FY24 FY23 FY22 FY21 FY20 Equity 11,389 9,722 8,432 6,580 4,335 Non-current Assets 7,693 7,775 6,869 5,703 5,697 Non-current Liabilities 767 636 576 1,197 1,426 Current Liabilities 2,621 2,156 1,877 1,
Slide 39: Key Ratios – Full Year
Key Ratios – Full Year Cash & Cash Equivalent (in ₹ Receivable Days / Payable Networth (in ₹ Mn) & ROCE (%) Debt (in ₹ Mn) & Debt / Equity Mn) & ROE % Days /NWC Days % 15.6 24.7 19.3 14.9 20.4 % 11.9 23.1 17.6 13.5 15.8 0.38 0.18 0.02 0.04 0.04 11 4 5 0 40 Payable Days Receivable Days NWC 11,389 Day
Slide 40: Capital Market Information
Capital Market Information Key Investors as on 31st December 2024 (% of Total Equity) SBI Mutual Funds 7.91 DSP Small Cap Fund 6.40 Bharat Biotech International Ltd 3.36 Steinberg India Emerging Opportunities Fund 2.32 Ashoka Whiteoak India Opportunities Fund 2.18 33,000+ Total Shareholders HDFC Sma
Slide 41: 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 40
Slide 42: For More Details Contact us
For More Details Contact us: Company: Dodla Dairy Limited CIN: L1509TG1995PLC020324 Surya Prakash Mungelkar Email id: investorqueries@dodladairy.com 13.33 Tel No: +91 40 4546 7777 Investor Relations Advisor: Strategic Growth Advisors Pvt Ltd. CIN: U74140MH2010PTC204285 Shikha Puri / Dharmik Kansara