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Swing Capital

Dodla Dairy Ltd

NSE: DODLA BSE: 543306

Incorporated in the year 1995, Dodla Dairy Limited is an integrated dairy company based in Telangana. The company derives the majority of its revenue from the sale of Milk and dairy-based value added products in the branded consumer Market. Currently, its procurement is centered in 5 states and its products are available for purchase in 11 states. It has 94 milk chilling centers. Some of their plants are ISO 22000:2005 Certified while two are ISO 50001:2011 (EnMS) Certified.

₹1,001
52W: ₹955 — ₹1525
PE 26.2 · Book ₹248 · +304% vs book
Market Cap₹6,042 Cr
Stock P/E26.2Price to Earnings
ROCE16.6%Return on Capital
ROE16.6%Return on Equity
Div. Yield0.52%Face Value ₹10

Strengths

  • +Company is almost debt free.

Weaknesses

  • −Tax rate seems low
  • −Promoter holding has decreased over last 3 years: -3.29%

Shareholding Pattern

Promoters58.92%
FIIs6.44%
DIIs25.34%
Public9.3%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters60.52%59.69%▼0.859.69%59.69%59.69%58.92%▼0.858.92%58.92%
FIIs11.27%11.58%▲0.311.03%▼0.610.41%▼0.610.03%▼0.48.91%▼1.17.36%▼1.56.44%▼0.9
DIIs18.64%17.96%▼0.718.84%▲0.919.14%▲0.319.22%▲0.121.5%▲2.323.76%▲2.325.34%▲1.6
Public9.57%10.78%▲1.210.44%▼0.310.74%▲0.311.05%▲0.310.67%▼0.49.96%▼0.79.3%▼0.7

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales701728828903803808901855822845
Expenses624666745817720741839778765816
Operating Profit76628387836762775729
OPM %11%9%10%10%10%8%7%9%7%3%
Net Profit49385459775762545755
EPS ₹8.36.39.119.8512.79.410.348.919.429.19

AI Insights

Revenue Trend

Mar 2026 revenue at ₹3,422Cr, up 2.4% YoY. OPM at 7%.

Debt Position

Borrowings at ₹16Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Capex Cycle

CWIP at ₹99Cr (16% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 25.34% (+7.28pp change). FIIs: 6.44% (-4.15pp change). Promoters hold 58.92%.

Margin & Efficiency

ROCE improving from 0% (Mar 2015) to 17% (Mar 2026). Working capital days: 23.

Valuation

PE 26.2x with 16.6% ROCE. Price is 304% above book value of ₹248. Dividend yield: 0.52%.

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