Dodla Dairy Limited has filed its Annual Report for the financial year 2025-26 with the stock exchanges and convened its 31st Annual General Meeting (AGM) for 14 July 2026 at 11:00 A.M. (IST) via Video Conferencing (VC)/Other Audio Visual Means (OAVM). The company reported its highest-ever annual consolidated revenue and maintained a net-debt-free balance sheet despite a demanding operating environment characterised by constrained milk supply and elevated procurement costs through much of the year.

Financial Performance: Consolidated and Standalone

On a consolidated basis, the company delivered strong top-line growth while profitability was moderated by cyclical cost pressures. The following table summarises the key financial metrics:

Consolidated revenue from operations grew 10.89% year-on-year. Reported consolidated PAT of INR 2,669.99 million included approximately INR 70 crores in one-time benefits from favourable tax orders and related interest income; adjusted for these items, underlying PAT was closer to INR 197 crores. The company generated INR 295 crores of operating cash flow during FY 2025-26 and closed the year essentially net-debt-free, with INR 659.4 crores in cash and liquid investments.

Operational Highlights and Business Performance

Average consolidated milk procurement reached 18.75 lakh litres per day (LLPD) in FY 2025-26, with average milk sales at 13.2 LLPD. Value-added products (VAP) contributed 29.2% of revenues in FY 2025-26. Bulk commodity sales of SMP and butter declined sharply to INR 86 crores in FY 2025-26 from INR 312 crores in FY 2024-25, reflecting a strategic decision to redirect milk into higher-margin branded categories. The consolidated average procurement cost for FY 2025-26 stood at INR 38.9 per litre against INR 35.4 per litre in FY 2024-25.

The company's wholly owned subsidiary Orgafeed delivered operating revenue of INR 1,644.15 million in FY 2025-26, a 24% year-on-year increase, with an EBITDA margin of 13.1% and installed capacity of 480 MTPD across Kadapa and Kuppam. Africa operations delivered consolidated revenue of INR 5,042 million in FY 2025-26, a 33% year-on-year increase, with EBITDA growing from INR 416 million to INR 572 million over the same period.

Key operational metrics over the past five years are summarised below:

Expansion Plans and Capital Deployment

The company deployed INR 430 crore of capital during FY 2025-26, funded entirely through internal accruals. Key expansion initiatives include:

• Maharashtra Greenfield Plant (Solapur): Planned total capex of INR 2,800 million; INR 1,060 million deployed cumulatively as of 31 March 2026 (INR 200 million in FY 2024-25 and INR 860 million in FY 2025-26); commercial operations targeted by end of FY 2026-27; planned capacity of 10 LLPD.
• Uganda Greenfield Expansion: A 70-acre land parcel secured; planned total investment of INR 600 million, of which INR 44 million was invested in FY 2025-26; planned capacity addition of approximately 2 LLPD; execution timeline by end of FY 2028-29.
• OSAM Acquisition (HR Food Processing Private Limited): Acquired with effect from 01 August 2025 for INR 2,472 million; processing capacity of approximately 2.2 LLPD; extends geographic footprint into Bihar and Jharkhand.

AGM Agenda and Dividend

The 31st AGM will be held on 14 July 2026 via VC/OAVM. The record date for the final dividend has been fixed as Tuesday, 07 July 2026. Key resolutions to be considered include:

Remote e-voting will be open from 09:00 Hours (IST) on 10 July 2026 to 17:00 Hours (IST) on 13 July 2026. The scrutiniser for the voting process is M/s. MNM & Associates, Practising Company Secretaries.

Credit Rating and Governance

Subsequent to the financial year-end, the company obtained/updated its credit rating from ICRA Limited on 02 April 2026. The ratings are as follows:

As of 31 March 2026, the company's market capitalisation stood at INR 5,858.43 crores. The Board comprises 8 directors including 4 independent directors, and the company has complied with all mandatory corporate governance requirements under SEBI Listing Regulations. The statutory auditors M/s. S.R. Batliboi and Associates LLP issued an unqualified opinion on both standalone and consolidated financial statements for FY 2025-26.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE021O01019/29c6d278-4f71-4f10-9837-0e5025c6af35.pdf

Dodla Dairy Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26 to the stock exchanges. The filing, made pursuant to Regulation 34(2)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, details the company's environmental, social, and governance performance. The report highlights that solar energy contributed 17% to the company's total power consumption, an increase from 14% in the previous financial year, as part of its efforts to reduce dependence on conventional power supply.

The company reported conserving 58,795 kilolitres of water during the year through in-house treatment processes. Treated water from Effluent Treatment Plants (ETPs) was reused for crate washing, equipment cleaning, and agricultural purposes. Furthermore, the company captured methane gas produced in ETP units and utilised it as fuel in canteens, mitigating its potential impact on the ozone layer. These initiatives contributed to cost savings of INR 38,790,052, representing a reduction of 9.39%.

Environmental Performance

Dodla Dairy's total energy consumption for the year stood at 161,590.53 GJ, with energy intensity per rupee of turnover recorded at 0.00000472. The company's Scope 1 and Scope 2 greenhouse gas emissions totalled 71,677.931 metric tonnes of CO2 equivalent. The company has set a target to increase the share of non-conventional energy, specifically solar power, to 30% by the end of 2030.

Social and Governance Metrics

The company reported a workforce of 3,159 permanent employees and 3,264 workers. Women comprised 2% of the permanent employees and 30.33% of the workers. The Board of Directors included one female member out of eight, representing 12.50% representation. The company spent 0.10% of its total revenue on well-being measures for employees and workers, up from 0.05% in the previous year.

During the financial year, the company received 99 customer complaints, all of which were resolved by the end of the year. There were no reported instances of fines, penalties, or legal proceedings against the company or its directors. The company maintained policies covering all nine principles of the National Guidelines on Responsible Business Conduct (NGRBC).