Dodla Dairy reports 10.4% YoY revenue growth in Q2 FY24

One of India’s prime integrated dairy companies, Dodla Dairy Ltd., has unveiled its financial results for Q2 and the first half of 2023, leading up to March 2024. The company’s revenue surged by 10.4% YoY, amounting to INR 7,678 Mn.

“Dodla Dairy continues to prudently invest in the supply chain, thereby delivering consumer delight to its stakeholders. The Company’s revenues grew by 10.4% YoY to INR 7,678 Mn in Q2FY24. Dodla’s Value Added Products (VAP) and Fat & Fat products sales showcased a 13.1% YoY growth at INR 1,953 Mn,” commented Dodla Sunil Reddy, Managing Director of Dodla Dairy.

Q2 Operational & Financial Metrics

Revenue Streams

• Domestic Business: Recorded 11.2% YoY growth, reaching INR 7,156 Mn.
• International Business: Earned a revenue of INR 521 Mn.

Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) & Profit

• EBITDA witnessed 19.2% YoY growth, totaling INR 702 Mn.
• Profit After Tax (PAT) escalated by 10.5% YoY to INR 436 Mn.
• Earnings Per Share (EPS): Elevated to INR 7.26 from INR 6.58 in Q2 FY23.

Operational Metrics

• 18.9% YoY growth in average milk procurement, clocking in at 17.0 LLPD.
• Milk sales averaged 10.9 LLPD.
• Curd sales showed a 5.8% YoY increase, reaching 309.3 MTPD.
• Value Added Products (VAP) revenue boosted by 13.1% YoY to INR 1,953 Mn.

Financial & Operational Performance: First Half of 2023

Financial Overview

– H1 FY24 Operating Revenues: Experienced a 12.7% YoY growth, standing at INR 15,912 Mn.

– EBITDA rose by 25.6% YoY to INR 1,306 Mn, while Profit After Tax (PAT) increased by 22.1% YoY to INR 786 Mn.

– The EPS for H1 FY24 was INR 13.09, compared to INR 10.73 in H1Q2 FY23.

Operational Statistics

• Average milk procurement marked a 13.1% YoY growth, at 16.4 LLPD.
• Milk sales recorded 2.6% YoY growth, averaging 11.0 LLPD.
• Curd sales experienced a 4.2% YoY rise, amounting to 374.2 MTPD.
• Revenue from Value Added Products (VAP) surged by 13.0% YoY to INR 4,539 Mn.

The company’s assertive approach toward business operations is underscored by weaving sustainability, innovation, and technology. These key ingredients in Dodla Dairy’s business recipe aim to serve long-term value to its revered stakeholders.