Dodla Dairy Q4 FY23 Net Sales up 22.82% Y-o-Y

Net Sales at Rs 724.28 crore in March 2023 up 22.82% from Rs. 589.72 crore in March 2022.

Quarterly Net Profit at Rs. 22.53 crore in March 2023 down 44.35% from Rs. 40.48 crore in March 2022.

EBITDA stands at Rs. 40.03 crore in March 2023 down 21.76% from Rs. 51.16 crore in March 2022.

Dodla Dairy EPS has decreased to Rs. 3.79 in March 2023 from Rs. 6.80 in March 2022.

Dodla Dairy shares closed at 502.10 on May 19, 2023 (NSE) and has given 2.39% returns over the last 6 months and 4.40% over the last 12 months.

Cost of goods sold increased by 29.7% YoY to Rs 569.4 crore in the fourth quarter. Employee expenses amounted to Rs 29.9 crore (up 14.8% YoY) while other expenses added up to Rs 91.3 crore (up 17.4% YoY).

EBITDA declined by 28.1% to Rs 33.7 crore in Q4 FY23 from Rs 46.9 crore in Q4 FY22. EBITDA margin was 4.7% in Q4 FY23 as against 8% in Q4 FY22.

Earnings before tax after other income in Q4 FY23 was Rs 25 crore, down by 33.7% from Rs 37.7 crore in Q4 FY22.

The company recorded 7.9% fall in consolidated PAT to Rs 122.3 crore despite a 25.3% jump in revenues to Rs 2,812 crore in FY23 as compared with FY22.

Dodla Sunil Reddy, managing director of Dodla Dairy, said: “The company successfully navigated multiple sectoral challenges and delivered growth in both domestic and international operations with 23.3% YoY and 55.2% YoY, respectively in FY23.

Dodla Dairy’s Africa business is shaping up well. We will continue to reap the benefits of our international presence in the coming years.

The company’s value-added products (VAP) sales surged by 26% YoY to Rs 740.8 crore owing to the strong brand recall and wide distribution network. Dodla’s VAP sales contributed 26.8% to the overall revenues in FY23.”

Dodla Dairy is one of India’s leading integrated dairy companies. The company procures, processes, and sells milk and milk products. The company’s product portfolio consists of milk, butter milk, ghee, curd, paneer, flavoured milk, doodh peda, ice cream and milk based sweets. The company’s procurement is centred in 5 states and products are available for purchase in 9 states and has 118 milk chilling centres/plants. The company also has international operations in Uganda and Kenya.