Financials Dodla Dairy Limited

Equities

DODLA

INE021O01019

Food Processing

Market Closed - NSE India S.E. Other stock markets 07:43:51 2024-05-27 am EDT			5-day change	1st Jan Change
879.7 ^INR	-0.47%		-12.96%	+0.17%

May. 18	Dodla Dairy Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2024	CI
May. 10	Dodla Dairy Limited Announces Commencement of Commercial Production at Dodderi Plant	CI

Valuation

Fiscal Period: March	2022	2023	2024	2025	2026
Capitalization ¹	26,608	27,590	53,070	-	-
Enterprise Value (EV) ¹	26,608	27,590	48,452	46,582	43,819
P/E ratio	20.1 x	22.7 x	28.9 x	24 x	19.2 x
Yield	-	-	-	-	-
Capitalization / Revenue	1.19 x	0.98 x	1.55 x	1.47 x	1.27 x
EV / Revenue	1.19 x	0.98 x	1.55 x	1.29 x	1.05 x
EV / EBITDA	12.6 x	14.4 x	16.8 x	13.5 x	10.7 x
EV / FCF	26.7 x	49.2 x	81 x	53.1 x	24.2 x
FCF Yield	3.75%	2.03%	1.23%	1.88%	4.13%
Price to Book	3.16 x	2.84 x	4.59 x	3.85 x	3.23 x
Nbr of stocks (in thousands)	59,493	59,493	60,328	-	-
Reference price ²	447.2	463.8	879.7	879.7	879.7
Announcement Date	5/16/22	5/20/23	5/18/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2021	2022	2023	2024	2025	2026
Net sales ¹	-	22,434	28,120	31,255	36,155	41,709
EBITDA ¹	-	2,107	1,913	2,888	3,458	4,081
EBIT ¹	-	-	-	2,188	2,639	3,198
Operating Margin	-	-	-	7%	7.3%	7.67%
Earnings before Tax (EBT) ¹	-	1,656	1,518	2,438	2,877	3,610
Net income ¹	1,260	1,328	1,223	1,667	2,178	2,722
Net margin	-	5.92%	4.35%	5.33%	6.02%	6.53%
EPS ²	-	22.24	20.39	27.75	36.70	45.83
Free Cash Flow ¹	-	996.7	560.4	601.3	878	1,808
FCF margin	-	4.44%	1.99%	1.91%	2.43%	4.33%
FCF Conversion (EBITDA)	-	47.3%	29.29%	20.95%	25.39%	44.31%
FCF Conversion (Net income)	-	75.04%	45.83%	35.1%	40.31%	66.42%
Dividend per Share ²	-	-	-	-	-	-
Announcement Date	8/30/21	5/16/22	5/20/23	5/18/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3
Net sales ¹	-	7,243	8,234	8,692	7,708
EBITDA ¹	-	337.2	603.4	700	809.9
EBIT	-	-	-	-	-
Operating Margin	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	620
Net income	353.8	-	-	-	484.4
Net margin	-	-	-	-	6.28%
EPS	5.900	-	-	-	8.100
Dividend per Share	-	-	-	-	-
Announcement Date	1/21/23	5/20/23	7/21/23	-	-

¹INR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-
Net Cash position ¹	-	-	-	4,350	6,488	9,251
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow ¹	-	997	560	601	878	1,808
ROE (net income / shareholders' equity)	-	17.7%	13.5%	15.3%	16.7%	17.2%
ROA (Net income/ Total Assets)	-	-	-	13%	15%	16%
Assets ¹	-	-	-	13,180	14,520	17,012
Book Value Per Share ²	-	142.0	163.0	192.0	229.0	272.0
Cash Flow per Share	-	-	-	-	-	-
Capex ¹	-	715	1,048	1,000	1,333	1,333
Capex / Sales	-	3.19%	3.73%	3.18%	3.69%	3.2%
Announcement Date	8/30/21	5/16/22	5/20/23	5/18/24	-	-

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Dodla Dairy Limited

Trading Rating

Investor Rating

ESG Refinitiv

D+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

879.7 INR

Average target price

1,207 INR

Spread / Average Target

+37.17%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Dairy Products

	1st Jan change	Capi.
DODLA DAIRY LIMITED	+0.17%	642M
INNER MONGOLIA YILI INDUSTRIAL GROUP CO., LTD.	+8.49%	25.3B
CHINA MENGNIU DAIRY COMPANY LIMITED	-25.52%	7.71B
WANT WANT CHINA HOLDINGS LIMITED	-0.64%	6.89B
NESTLÉ (MALAYSIA)	+8.33%	6.37B
EMMI AG	+1.10%	5.44B
VIETNAM DAIRY PRODUCTS	-2.22%	5.42B
GLANBIA PLC	+23.94%	5.22B
CHINA FEIHE LIMITED	-3.75%	4.69B
HEBEI YANGYUAN ZHIHUI BEVERAGE CO., LTD.	+21.21%	4.45B

Dairy Products