Dodla Dairy reports Q4 PAT at Rs 10 cr

On a consolidated basis, Dodla Dairy reported net profit of Rs 9.58 crore in Q4 FY21 compared with net loss of Rs 1.94 crore in Q4 FY20.

Revenue from operations rose 0.58% to Rs 530.49 crore in Q4 FY21 as against Rs 527.42 crore in Q4 FY20. Pre-tax profit stood at Rs 24.08 crore in Q4 FY21 as against pre-tax loss of Rs 1.94 crore in Q4 FY20. The Q4 earnings was declared after trading hours yesterday, 14 July 2021.

The EBITDA stood at Rs 36 crore in Q4 FY21 as against Rs 14.10 crore in Q4 FY20, registering a growth of 154.3% Y-o-Y (year-on-year).

The average milk procurement during Q4 FY21 was at 10.85 lakh litres per day (LLPD) compared with 11.20 LLPD in Q4 FY20. The average milk sales during Q4 FY21 stood at 9.22 LLPD compared with 9.67 LLPD in Q4 FY20. Curd sales during Q4 FY21 was at 249.83 million tonnes per day (MTPD) over 253.51 MTPD in Q4 FY20. The revenue from value added products (VAP) stood at Rs 141.50 crore, contributing 26.9% to the overall dairy revenue during Q4 FY21.

Commenting on the Q4 performance, Dodla Sunil Reddy, the managing director (MD) of Dodla Dairy, said: "I would like to place on record my heartfelt thanks to all the investors who reposed faith in Dodla by subscribing in the IPO. I am pleased with our performance in the last fiscal with Operating revenue of Rs 19,440 million which was impacted due to reduced demand caused by the COVID-19 situation while margins and net profits perked up due to improved sales realisations and cost reductions. Going forward, we expect to continue on this growth path while striving to improve margins continuously. Dodla will continue to focus on our core products including Milk & Curd while looking to expand the offerings to regions in South India where we are currently not established. We continue to work on value added products and we believe that this will further give a fillip to our product and margin profile in the future."

On a full year basis, the company's consolidated net profit soared 152.59% to Rs 125.97 crore on 9.13% drop in revenue from operations to Rs 1,944 crore in Q4 March 2021 over Q4 March 2020.

Dodla Dairy is an integrated dairy company based in South India. The company also has overseas presence with dairy operations in Uganda and Kenya. The company manufactures and markets milk and dairy based value added products in the branded consumer markets under the brands "Dodla Dairy", "Dodla" and "KC+" ( in India) and "Dodla Dairy", "Dairy Top" and "Dodla+" (in overseas markets). The company's operations in India are primarily across the five Indian states of Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Maharashtra.

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 closed on 18 June 2021. The price band for the IPO was set at Rs 421-428 per share.

Shares of Dodla Dairy slipped 1.30% to Rs 612.70 on BSE. It traded in the range of 608.85 and 630 during the day.

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