Dodla Dairy Limited has scheduled an analyst and institutional investor meeting for June 8, 2026, in Mumbai. The interaction, organized by ICICI Securities, will provide a platform for the company's officials to engage with investors. Discussions during the session will be strictly based on publicly available information, and no unpublished price sensitive information (UPSI) will be shared.

The meeting is set to commence at 9:00 AM and will be conducted in a 1x1 or group format. This initiative is part of the company's ongoing investor relations efforts, complying with the relevant provisions of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015.

The intimation regarding this schedule was submitted to the stock exchanges pursuant to Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015. The company noted that changes to the schedule may occur due to exigencies on the part of the host or the company.

The disclosure was signed by Surya Prakash M, Company Secretary & Compliance Officer of Dodla Dairy Limited.

Dodla Dairy Limited has reported its audited standalone and consolidated financial results for the quarter and financial year ended 31 March 2026. The company achieved its highest-ever quarterly and yearly revenue of ₹10,745 million and ₹41,252 million respectively. The Board of Directors approved the results at its meeting held on 16 May 2026 and recommended a final dividend of ₹5 per equity share.

Consolidated Financial Performance

On a consolidated basis, Dodla Dairy reported a net profit of ₹2,670 million for FY26, compared to ₹2,599 million in the previous year, representing a 2.7% increase. Revenue from operations increased to ₹41,252 million from ₹37,201 million in FY25, a growth of 10.9%. For the quarter ended 31 March 2026, consolidated net profit was ₹698 million on revenue from operations of ₹10,745 million, while EBITDA stood at ₹538 million against ₹835 million in Q4 FY25, with an EBITDA margin of 5.0% compared to 9.2% in the prior-year quarter.

The following table summarises the key consolidated financial results:

Consolidated Financial Highlights (₹ in Millions)

Milk Price Per Litre (₹)

Operational Highlights

The company achieved its highest-ever milk sales volume of 14.0 LLPD, an increase of 19.5% year-on-year. Milk procurement grew by 13.4% YoY. Value-added products (VAP) sales stood at ₹2,969 million, accounting for 28% of total sales, with VAP product contribution at 27.6% for the quarter, primarily comprising high-margin products such as curd, buttermilk, flavoured milk, paneer, and lassi. Curd sales volume reported solid growth of 15.4% YoY. However, gross profit margins were lower due to elevated milk procurement costs, which rose faster than realization prices. Bulk sale for the quarter was nil, compared to ₹384 million in Q4 FY25.

For the full year, average milk procurement stood at 18.8 LLPD (up 9.9% YoY), average milk sales at 13.2 LLPD (up 12.8% YoY), and curd sales at 400.9 MTPD (up 8.3% YoY). VAP sales grew by 20% CAGR during the FY2022–26 period, while bulk sale for the year was ₹861 million compared to ₹3,125 million in FY25. As of 31 March 2026, the company maintains a net debt-free status with a healthy ROCE of 16.0%.

Subsidiary and Business Segment Performance

The Africa business delivered strong revenue growth of 48% year-on-year, achieving its highest-ever EBITDA of ₹184 million in Q4 FY26. The Orgafeed business recorded operating revenue of ₹1,644 million in FY26 with revenue growth of 23.2% year-on-year and an EBITDA of ₹215 million, reflecting an EBITDA margin of 9.5%.

Orgafeed Business Snapshot

Exceptional Items and Tax Adjustments

The financial results include a one-time tax credit of ₹292 million during the quarter following a favourable Income Tax Appellate Tribunal (ITAT) & CIT (A) order ruling. The total tax credit for FY26 was ₹587.4 million, comprising Q1 ₹19.2 million (DDL refund), Q2 ₹57.1 million (DHPL), Q3 ₹218.8 million, and Q4 ₹292.33 million (both for ITAT & CIT (A) order). An exceptional item of ₹32 million was recorded, representing a reversal on the one-time Labour code expenses from Q3 FY26.

Expansion Plans

Dodla Dairy has outlined several ongoing and planned expansion initiatives. A Maharashtra greenfield project is underway with a planned total capex of ₹2,800 million, targeting a capacity addition of 10 LLPD with commercial operations expected by end-FY27. The facility will initially focus on SMP and butter processing, followed by expansion into VAP and cattle feed. For its Africa operations, the company has acquired approximately 70 acres of land in Uganda, with a planned total investment of ₹600 million and ₹44 million already invested in FY26, targeting a capacity addition of approximately 2 LLPD with an execution timeline of by end of FY29.

Regarding the OSAM Dairy acquisition, the company acquired OSAM Dairy for ₹2,472 million with a processing capacity of approximately 2.2 LLPD, expanding its geographical footprint in the East India region. Additionally, a 7-acre land parcel has been allotted by BIADA for a dairy project, requiring an additional investment of ₹44 million for the land, with the project under consideration pending Board approvals.

Key Expansion Parameters

Consolidated Cash Flow

The consolidated cash flow statement reflects net profit before tax of ₹2,807 million for FY26 compared to ₹3,558 million in FY25. Cash generated from operations stood at ₹3,506 million against ₹6,298 million in the prior year. Cash and cash equivalents at the end of the period were ₹752 million, compared to ₹897 million at the beginning of the period.

Dividend Declaration

The Board of Directors recommended a final dividend of ₹5 per equity share of face value ₹10 each for FY26. The company has fixed 07 July 2026 as the record date for determining the entitlement of members to receive the dividend. The 31st Annual General Meeting is scheduled to be held through Video Conferencing on 14 July 2026.

Management Commentary and Outlook

During the Q4 FY26 earnings call, management stated that the company expects revenue growth in the low to mid-teens for FY27, supported by OSAM's full year contribution, Africa's continued trajectory, and 8% to 9% organic growth in its India business. A gradual gross margin recovery of 50 to 100 basis points over FY26 levels is anticipated as procurement normalizes and pricing actions take effect. The effective tax rate is expected to return to the normal 25% to 27% range post the completion of favourable tax orders received in FY26.

Management highlighted that capital allocation priorities are to fund growth capex from internal accruals, followed by regular dividends and selective bolt-on acquisitions. The company remains focused on improving operational efficiencies in the OSAM business to bring margins in line with the overall company level. In Africa, the business is scaling towards 15% to 18% of consolidated revenue by FY28, supported by a Phase 2 expansion in Uganda.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE021O01019/5d62b32152a34a19.pdf