The board of the dairy company met on 7 March 2022 to approve the purchase of assets, business and plant & machinery up to Rs 55 crore.
Dodla Dairy has also approved the funding for subsidiaries - Orgafeed and Dodla Dairy Kenya of up to Rs 40 crore each.
Dodla Dairy's consolidated net profit dropped 35.4% to Rs 26.86 crore on a 15.7% increase in net sales to Rs 575.19 crore in Q3 FY22 over Q3 FY21.
Hyderabad-based Dodla Dairy has procurement centered in 5 states and its products are available for purchase in 11 states. It has 94 milk chilling centers. Its product portfolio consists of milk, butter milk, ghee, curd, paneer, flavoured milk, doodh peda, ice cream and sweets.
Shares of Dodla Dairy entered the bourses on 28 June 2021. The stock was listed at Rs 528, a premium of 23.36% to the initial public offer (IPO) price of Rs 428 per share. The IPO of Dodla Dairy opened for bidding on 16 June 2021, and it closed on 18 June 2021. The price band for the IPO was set at Rs 421-428 per share.
Shares of Dodla Dairy rose 0.06% to Rs 415 on BSE.
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