Dodla Dairy reported Q1 FY26 revenue of INR1,007 Cr, up 10.5% YoY, but saw margin pressure with EBITDA at 8.2% and PAT at 6.2%. This was due to early rains impacting high-margin Value-Added Product (VAP) sales and higher milk procurement costs. Management anticipates margin improvement in Q2 FY26 as procurement prices have started correcting. Africa business grew revenue by 26.9%, while Orgafeed continued its strong performance with revenue up 29.4% and EBITDA up 84.4%. Strategic initiatives include the OSAM acquisition and ongoing Maharashtra expansion. The company has significantly reduced its SMP and butter inventory. Management expresses confidence in future growth drivers.