Dodla Dairy Ltd. · NSE:DODLA
Dodla Dairy — Q2 FY27 Earnings Presentation
50 slides from Dodla Dairy's earnings presentation, Oct 28, 2026
Slide 1: Exchange filing cover letter for Q2 FY27 Investor Presentation
An ISO 22000-2005 & 50001 EnMS Certified Company CIN: L15209TG1995PLC020324 Date: 28 October 2026 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 Str
Slide 2: Dodla Dairy Limited Q2 FY27 Investor Presentation
Dodla Dairy Limited Q2 FY27 Investor Presentation
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Dodla Dairy Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securitie
Slide 4: Q2 & H1 FY27 Performance Highlights
Q2 & H1 FY27 PERFORMANCE HIGHLIGHTS REVENUE EBITDA PAT Q2 FY27 H1 FY27 Q2 FY27 H1 FY27 Q2 FY27 H1 FY27 ₹ 64 Cr ₹ 129 Cr ₹ 37 Cr ₹ 77 Cr ₹ 1,196 Cr ₹ 2,394 Cr 5.4% Margin 5.4% Margin 3.1% Margin 3.2% Margin
Slide 5: Management commentary
Management commentary “Dodla Dairy delivered a healthy performance in Q2 FY27, with revenue increasing by 17.4% YoY to ₹1,196.0 crore. This performance was driven by a combination of volume growth and improved realisation, supported by a price increase of ₹2.5 per litre implemented during the quarte
Slide 6: Executive Summary for Q2 FY27 (consolidated)
Executive Summary for Q2 FY27 (consolidated) 1. Volume Highlights India Dairy Business Highlights Highest ever Milk Procurement volume of 21.3 LLPD up 9.3% YoY Milk procurement prices continued to rise faster than realization prices, keeping gross margins under pressure Milk Sales volume stood
Slide 7: Financial Highlights Consolidated (Q2 & H1 FY27)
Financial Highlights Consolidated (Q2 & H1FY27) Operating Revenue Gross Profit EBITDA PAT % 27.7 23.2 23.1 % 9.1 5.4 5.4 % 6.4 3.4 3.1 1,197.9 1,196.0 Margin Margin Margin 1,018.8 282.0 278.3 275.7 Q2 FY27 92.8 64.9 64.1 65.7 40.6 36.6 Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 Q
Slide 8: Quarter-wise Historical Operational Highlights
Quarter-wise Historical Operational Highlights OSAM Contribution Average Milk Procurement Average Milk Sales Curd Sales* VAP Sales* 21.1 21.3 642.6 414.7 19.5 1.4 1.2 43.3 0.7 18.3 18.5 14.0 14.2 35.6 13.9 13.6 0.9 1.2 13.1 1.2 1.1 327.0 1.2 1.1 0.7 442.4 444.7 296.9 23.9 24.5 20.6 262.0 23.2 360.2
Slide 9: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Common Size Particulars (INR in Crores) Q2FY27 Q2FY26 YoY Q1FY27 QoQ H1FY27 H1FY26 YoY Q2FY27 Q2FY26 Q1FY27 H1FY27 H1FY26 Revenues 1,196.0 1,018.8 17.4% 1,197.9 -0.2% 2,394.0 2,025.7 18.2% 100.0% 100.0% 100.0% 100.0% 100.0% Cost of Goods Sold 920.3 736.8 24.9% 91
Slide 10: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (in ₹ Cr) Sept’26 Mar’26 Equity & Liabilities (in ₹ Cr) Sept’26 Mar’26 Non - Current Assets 1,340.3 1,328.6 Total Equity 1,721.6 1,674.1 Property Plant & Equipments 782.3 761.2 Share Capital 60.3 60.3 CWIP 134.4 108.9 Other Equity 1,661.3 1,613.8 Goodwill 183.2 183.
Slide 11: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Cash flows statement (in ₹ Cr) H1FY27 H1FY26 Net Profit Before Tax 105.3 163.7 Adjustments for: Non -Cash Items / Other Investment or Financial Items 25.9 15.5 Operating profit before working capital changes 131.2 179.2 Changes in working capital -42.8 29.1 Cash gene
Slide 12: Ongoing Expansion Plan
Ongoing Expansion Plan Total Capex Plan Maharashtra OSAM Dairy Africa Business FY26 to FY28* Greenfield Expansion under process: Acquisition of a regional Dairy brand Greenfield Expansion Rs. 670.0 Cr + Planed Total capex of Rs. 320.0 Cr for Acquired OSAM Dairy in Jul’26 for Acquired ~70 acres
Slide 13: Recent Key Updates
Recent Key Updates Maharashtra Project on track Milk Parlour inaugurated Milk Parlour inaugurated in Patna, Bihar Process Building Product Block Refrigeration Block Milk Chilling Center Raw Water Tank 2kl RMC inaugurated at Bhandra, Boiler Section Powder Plant Jharkhand NOTE: The Brand Names and Log
Slide 14: About Us
About Us
Slide 15: Dodla Dairy Ltd.: At a glance
Dodla Dairy Ltd.: At a glance INR Crores Dodla Dairy (Standalone) OSAM Africa Business Orgafeed Founded in 1995, Dodla Dairy is an During FY2025–26, Dodla Dairy Dodla Dairy has extended its footprint Orgafeed is primarily engaged in the integrated dairy company based in expanded its presence by acqu
Slide 16: Dodla Dairy (Standalone Business): Snapshot
Dodla Dairy (Standalone Business): Snapshot Presence Across The Dairy Value Chain Dodla Dairy has grown into one of South India's leading integrated dairy Stage Scale companies, owning the value chain from the farmer's collection point to the consumer's table across India and East Africa Direct Pr
Slide 17: HR Food Processing Private Limited (OSAM): Snapshot
HR Food Processing Private Limited (OSAM): Snapshot Expanded Footprint In East India Region Acquired HR Food Processing Private Limited (OSAM) in August 2025 for ₹ Stage Scale 2,472 million. Premium dairy brand with a strong presence across Bihar, Jharkhand, and other Eastern Indian markets. Procu
Slide 18: Africa Business: Snapshot
Africa Business: Snapshot Presence In Africa (Kenya & Uganda) Operates in Uganda and Kenya through its subsidiary Lakeside Dairy Ltd, Stage Scale Dodla Dairy Kenya Ltd and Country Delight Dairy Ltd Raw milk procurement of ~2.6 LLPD across 60 villages and 840 African product portfolio is marketed
Slide 19: Orgafeed: Snapshot
Orgafeed: Snapshot Secure High-quality Milk & Improve Farmer Engagement Orgafeed is primarily engaged in the business of seed crushers, manufacturing and dealing of groundnuts, gingerly, cotton and in the manufacturing of cattle feed. State-of-the-art manufacturing facilities at Kadapa & Kuppam, A
Slide 20: Comprehensive Product Portfolio
Comprehensive Product Portfolio Pasteurized Pouch Milk Curd UHT Milk Flavored Milk Milk-Based Sweets Full cream, Standardized Sachet Curd, Bucket Curd, Toned, Double Toned Badam, Strawberry, Pista, Doodhpeda, Gulab Jamun, Sona Milk, Toned Cup Curd Chocolate Papidi, Milk Cake and Basundhi Paneer & Ch
Slide 21: Processing Plants: India and Africa
Processing Plants: India and Africa 28.5 Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, time liness or completeness. 20
Slide 22: Robust Infrastructure – Farms to Families
Robust Infrastructure – Farms to Families Pan-Regional Manufacturing Presence Integrated Procurement and Processing Model Plant Capacity (Consolidated) in LLPD Number of Procurement Centres Number of Milk Chilling Units 20.0 22.3 24.1 24.3 28.5 7,837 7,602 7,879 7,895 7,691 110 118 150 190 273 2021-
Slide 23: Key Highlights
.. Enabling Dodla to Deliver Competitive Advantage Milk Procurement 18.8 28.7 All dairy processors have access to the same FY26 17.6 raw material and equipment; what 17.1 distinguishes us is our dedicated employees FY25 24.3 and our strong relationship with farmers 15.8 Key Highlights 16.8 FY24 24
Slide 24: Journey So Far: 31 years of dairy operations
Journey So Far: 31 years of dairy operations • Investment by The Rise Fund (TGP) as it acquired stake of • IFC invested ~INR100 • Commissioned New • Acquisition of HR Black River * Cr Orgafeed Plant Food Processing Incorporation of Dodla Badvel and Sattenapally Investment by Black • Gundrampally, Hy
Slide 25: Board of Directors
Board of Directors Madhusudhana Reddy Dodla Sesha Reddy Akshay Tanna Dodla Sunil Reddy Ambavaram Chairman & Non-Executive Director Non-Executive Non-Independent Managing Director Whole-time Director He has more than 60 years of experience in Director various industrial facets like Engineering, He ha
Slide 26: Strong Management Team
Strong Management Team 30+ Years Average Management Experience in Diversified BVK Reddy SURESH RAJANI KUMAR K V RAKESH RAMNANI Industries Chief Executive Officer Madhusudhana Reddy VS SUBRAMANIAN Head Sales & Marketing Head HR & Legal Head Production Head Procurement 6+ Years Average Employee Experi
Slide 27: Corporate Structure
Corporate Structure Dodla Dairy Limited HR Food Processing Dodla Holdings Country Delight Dairy Global Vetmed Concepts Orgafeed Private Limited Private Limited* Proprietary Limited Limited India Private Limited India India Singapore Kenya India 100% 100% 100% 100% 47.88% Ownership Ownership Ownershi
Slide 28: Competitive Advantages
Competitive Advantages
Slide 29: Key Strengths
Key Strengths Strong Presence Consistent Product Quality End to end integrated dairy An extensive Product Portfolio company in South India with a (Milk-Based value-added Products) growing presence across Eastern India International Presence Production Capacity Operations in 18 processing plants Ugan
Slide 30: Stringent Quality Control Procedures
Stringent Quality Control Procedures Well Defined Quality and Food Safety Procedures at Various Stages from Procurement to Distribution Procurement Stage VLCCs equipped with GPRS enabled electronic milk analyzers which test for the fat and solid not fat (SNF) content of the raw milk Tests conduc
Slide 31: Focused Engagement and Long-Term Relationship with Dairy Farmers
Focused Engagement and Long-Term Relationship with Dairy Farmers Input and Veterinary Support Transparency through Digitization Loans from regional banks and veterinarian-led training camps support VLCCs equipped with GPRS enabled Electronic milk analyzers & Weigh cattle investment, health, nutr
Slide 32: Dodla's ESG Commitment
Dodla’s ESG Commitment Material Issue Rationale Our Approach Financial Implication Responsible use of resources Positive. Resource conservation through water conservation, Reduced water usage in milk drives cost savings; water energy efficiency, emissions processing from recycling adds treatment cos
Slide 33: Way Forward
Way Forward
Slide 34: Strategic Roadmap for Sustainable Growth
Strategic Roadmap for Sustainable Growth Strengthen procurement & chilling Deepen the value-added Build greater control across the Improve distribution reach & infrastructure portfolio value chain brand visibility Improve supply reliability by widening the direct Strengthen growth and margin profile
Slide 35: Value-added Products (VAP) Trajectory
Value-added Products (VAP) Trajectory VAP Sales (in ₹ Cr)* Strong distribution network FY26 1,053 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 FY25 973 FY24 818 Vast VA
Slide 36: Raising the Visibility Quotient – TV and other mediums
Raising the Visibility Quotient – TV and other mediums Brand Building Initiative Aired television commercials (TVC) on leading regional TV channels and popular digital platforms for the first time, capturing the celebratory spirit of consumers Penetrate deeper in the market through the go-to-mar
Slide 37: Raising the Visibility Quotient – TV and other mediums
Raising the Visibility Quotient – TV and other mediums TV Show Q- Com Promo Promotional Product Integration on Jio-Hotstar 36 NOTE: The Brand Names and Logos mentioned are the property of their respective owners and are used here for identification purposes only
Slide 38: Raising the Visibility Quotient – Other mediums
Raising the Visibility Quotient – Other mediums Events Barricades VIT University – Amaravati (2 day stall activity) At Kodanda Rama swamy Temple, Bangalore 37 NOTE: The Brand Names and Logos mentioned are the property of their respective owners and are used here for identification purposes only
Slide 39: Enhancing brand presence on Social Media
Enhancing brand presence on Social Media Social Media Marketing 38
Slide 40: Expanding footprint across E–commerce and Modern trade
Expanding footprint across E–commerce and Modern trade 39 NOTE: The Brand Names and Logos mentioned are the property of their respective owners and are used here for identification purposes only
Slide 41: Historical Financials
Historical Historical Financials Financials
Slide 42: Year-wise Historical Operational Highlights
Year-wise Historical Operational Highlights Average Milk Procurement Average Milk Sales Curd Sales VAP Sales* % 25.2 26.8 28.3 35.0 29.1 Sales Contribution 18.8 13.2 400.9 1,257 16.8 17.1 370.0 1,200 11.6 349.9 10.7 10.9 323.8 13.8 9.3 12.5 269.8 862 741 588 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 F
Slide 43: Margin Accretive Growth Over The Years
Margin Accretive Growth Over The Years Revenue EBITDA PAT Debt to Equity ▲13% ▲10% ▲19% ▲16% CAGR (FY21-25) CAGR (FY22-26) CAGR (FY22-26) CAGR (FY22-26) % 9.4 7.5 % 5.9 6.5 4,125 Margin Margin 308 0.02 2,243 267 211 133 0.00 FY22 FY26 FY22 FY26 FY22 FY26 FY22 FY26 (in ₹ Cr) (in ₹ Cr) (in ₹ Cr) Reven
Slide 44: Financial Highlights
Financial Highlights Contributing Average Milk Procurement Average Milk Sales Curd Sales 29% to the Value Added Products Topline FY26 18.8 LLPD 13.2 LLPD 401 MTPD ₹ 1,203 Cr ▲ 9.9% YoY ▲ 12.8% YoY ▲ 8.3% YoY Revenue Gross Profit EBITDA PAT % 27.5 23.9 27.0 27.4 25.6 % 9.4 6.8 9.2 10.2 7.5 % 5.9 4.3
Slide 45: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Common Size Particulars (in ₹ Cr) FY26 FY25 FY24 FY23 FY22 FY26 FY25 FY24 FY23 FY22 Revenues 4,125.2 3,720.1 3,125.5 2,812.0 2,243.4 100.0% 100.0% 100.0% 100.0% 100.0% Cost of Goods Sold 3,070.4 2,699.0 2,282.1 2,140.9 1,626.2 74.4% 72.6% 73.0% 76.1% 72.5% Gross
Slide 46: Consolidated Balance Sheet
Consolidated Balance Sheet Equity & Liabilities (in ₹ Cr) FY26 FY25 FY24 FY23 FY22 Assets (in ₹ Cr) FY26 FY25 FY24 FY23 FY22 Equity 1,674.1 1,406.0 1,138.9 972.2 843.2 Non-current Assets 1,328.6 806.3 769.3 777.5 685.4 Non-current Liabilities 108.2 75.7 76.7 63.6 57.6 Current Liabilities 314.1 249.1
Slide 47: Key Ratios – Full Year
Key Ratios – Full Year Cash & Cash Equivalent (in ₹ Cr) & Receivable Days / Payable Days Networth (in ₹ Cr) & ROCE (%) Debt (in ₹ Cr) & Debt / Equity ROE % /NWC Days % 19.3 14.9 20.4 24.4 16.0 % 17.6 13.5 15.8 20.4 17.3 0.00 0.02 0.03 0.02 0.02 5 0 40 2 -3 Payable Days Receivable Days NWC 1,674.1 Da
Slide 48: Capital Market Information
Capital Market Information (% of Total Key Investors as on 30th September 2026 Equity) HDFC Small Cap Fund 8.22 SBI Mutual Funds 7.58 32,300+ DSP Small Cap Fund 7.25 Ellask Tracon Pvt Ltd 3.36 B V K Reddy 1.63 Total Shareholders Steinberg India Emerging Opportunities Fund 1.33 Shareholding Pattern a
Slide 49: Glossary
Glossary LLPD Lakhs Litre per day LPA Litres 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 48
Slide 50: For More Details Contact us
For More Details Contact us: Company: Investor Relations Advisor: Dodla Dairy Limited Strategic Growth Advisors Pvt Ltd. CIN: L1509TG1995PLC020324 CIN: U74140MH2010PTC204285 Surya Prakash Mungelkar Dharmik Kansara / Shikha Puri Email id: [email protected] Email id: [email protected] /