Dodla Dairy Limited — Investor Meet, 25-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Dodla Dairy reported FY26 revenue of INR4,125 Cr (+10.9% YoY) and a record Q4 FY26 revenue of INR1,074 Cr (+18% YoY). Q4 EBITDA margin was 5%, with full-year at 7.5%. Adjusted PAT for FY26 stood at INR215 Cr (5.2% margin). Q4 milk procurement costs were higher at INR41/liter YoY.

Management highlighted resilient performance despite industry challenges. Africa business posted strong Q4 revenue of INR151 Cr (+48% YoY) and INR18 Cr EBITDA, driven by Kenya’s growth. OrgaFeed also grew 23.2%. For FY27, the company anticipates low-to-mid teens revenue growth and a 50-100 basis points gross margin recovery as milk supply normalizes. The Maharashtra project is on schedule for FY27 commercial operations, with Uganda expansion also planned.

Milk procurement remained robust at 0.185 Cr liters/day. Value-added products (VAP) grew 21% (excluding bulk sales), with curd sales volume up 15.4% and its value growing 19.1% YoY. OSAM is focused on operational efficiencies for margin improvement. While cautious about near-term margins due to external uncertainties, management is confident in long-term growth from strategic expansions and diversification. A final dividend of INR5 per equity share was announced.