Dodla Dairy Ltd. · NSE:DODLA
Dodla Dairy — Q1 FY25 Earnings Presentation
38 slides from Dodla Dairy's earnings presentation, Jul 22, 2024
Slide 1: Cover letter to stock exchanges: Investor Presentation
Date: 22 July 2024 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 Q1 FY25 Investor Presentation
Dodla Dairy Limited Q1 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: Q1 FY25 Highest ever quarterly performance
9,116 Mn Q1 FY25 ₹ Revenues 10.7% Highest ever quarterly EBITDA 1,051 Mn ₹ performance 74.2% I 11.5% margin (on a consolidated basis) PAT 650 Mn ₹ 85.9% I 7.1% margin 3
Slide 5: Management commentary
Management commentary “During Q1FY25, Dodla once again delivered a healthy quarter with an all-time high revenue of ₹9,116 Mn registering 10.7% growth on a YoY basis. We also recorded the highest ever quarterly sales for both VAP and international business during Q1FY25. Fruits of our efforts with r
Slide 6: Quarterly Operational Highlights (Q1 FY25)
Quarterly Operational Highlights (Q1 FY25)* Contributing Average Milk Procurement Average Milk Sales Curd Sales Value Added Products 35.4% to the Topline 17.6 LLPD 11.3 LLPD 467.4 MTPD ₹ 3,138.6 Mn ▲ 10.9% YoY ▲ 2.5% YoY ▲ 6.3% YoY ▲ 21.4%YoY Operating Revenue (in ₹ Mn) Gross Profit (in ₹ Mn & Margi
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) % 32.0 26.1 25.6 29.0 35.4 10.9% YoY 2.5% YoY 6.3% YoY Sales Contribution 17.0 17.5 17.6 11.1 10.9 11.3 467.4 3,139 16.7 10.7 10.8 439.7 15.9 2,586
Slide 8: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (in ₹ Mn) Q1FY25 Q1 FY24 YoY Q4 FY24 QoQ Revenues 9,116 8,234 10.7% 7,874 15.8% Cost of Goods Sold 6,460 6,283 5,696 Gross Profit* 2,656 1,952 36.1% 2,178 21.9% Gross Profit margin 29.1% 23.7% 27.7% Employee Expenses 395 349 337 Other Expenses 1,210 9
Slide 9: About Us
Dodla Dairy Limited About Us
Slide 10: 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 11: Dodla Dairy Limited: Snapshot (Standalone)
Dodla Dairy Limited: Snapshot (Standalone) 40+ 1,750+ 2,500+ Sales offices Milk and milk product Agents distributors 20+ 14 598 LLPD aggregate Processing Dodla Retail installed capacity plants Parlours 152 7,650+ 97.6% Chilling Centres/ Village level collection Milk Directly Plants centers procured
Slide 12: 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 13: Financial Performance: Snapshot
Financial Performance: Snapshot Consolidated (in ₹ Mn & Margin %) Standalone (in ₹ Mn & Margin %) % 7.3 9.1 11.1 9.6 11.5 % 5.8 8.8 10.9 8.5 10.0 9,116 8,234 7,678 7,874 8,279 7,468 7,627 7,155 7,280 7,007 828 1,051 603 702 754 630 765 621 828 446 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q1FY24 Q2FY24 Q3F
Slide 14: Orgafeed: Snapshot
Orgafeed: Snapshot Financial Performance (in ₹ Mn & Margin %) 480 MTPD ₹317 Mn ₹39 Mn % 8.7 6.8 7.4 10.5 12.4 Cattle feed plants Company sales in Q1 EBITDA in Q1 FY25 FY25 capacity 317 Orgafeed is primarily engaged in the business of seed crushers, manufacturing and dealing of groundnuts, gingerly,
Slide 15: 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. 14
Slide 16: Journey So Far: 25+ years of dairy operations
Journey So Far: 25+ years of dairy operations • Commissioned New • Investment by The Rise Orgafeed Plant Fund (TGP) as it acquired • IFC invested • Commissioned stake of Black River * ~INR1,000Mn Incorporation of Badvel and Investment by Black Processing Plant in • Gundrampally, Hyderabad, • Listed
Slide 17: 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 8,100+ villages India, Kenya & Uganda through 7,650+ VLCCs Company regularly incurs capex to Raw milk directly procured from upgrade technology, a
Slide 18: Key Highlights: Enabling Dodla to Deliver 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 19: 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 20: Competitive Advantages
Competitive Advantages UICIOUS DRINK
Slide 21: 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 22: 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 23: 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 24: Investment Rationale
Investment Rationale c ar a c cep t able sign a ture check appr o ved 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 ardthe cost m o tiof v aprimary tion ra
Slide 25: 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 26: Way Forward
Way Forward
Slide 27: Strategic Priorities
Strategic Priorities 01 Continuous effort towards higher procurement, and widening distribution 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 28: 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 29: 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 30: Historical Financials
Historical Financials
Slide 31: 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 32: 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 33: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (in ₹ Mn) FY24 FY23 FY22 FY21 FY20 Revenues 31,255 28,120 22,434 19,440 21,394 Cost of Goods Sold 22,821 21,409 16,262 13,509 16,406 Gross Profit* 8,434 6,711 6,172 5,931 4,988 Gross Profit margin 27.0% 23.9% 27.5% 30.5% 23.3% Employee Expenses 1,360
Slide 34: 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 35: 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 36: Capital Market Information
Capital Market Information Key Investors as on 30th June 2024 (% of Total Equity) SBI Mutual Funds 8.82 DSP Small Cap Fund 5.97 Bharat Biotech International Ltd 3.41 Steinberg India Emerging Opportunities Fund 2.69 29,000+ Total Shareholders Ashoka Whiteoak India Opportunities Fund Pinebridge Global
Slide 37: 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 36
Slide 38: 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