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Dodla Q1FY24 Results: PAT increases by 85.9% YoY
Dodla Dairy’s Q1 FY24 results show an 85.9% increase in PAT to ₹650 million and a 74.2% rise in EBITDA to ₹1,051 million, with record revenues and significant growth in value-added products and international sales.
by Damodharan N
Updated Jul 22, 2024
Table of Content
Dodla Dairy Ltd. (BSE - 543306, NSE - DODLA) has reported its unaudited financial results for Q1 FY24, showcasing impressive growth and strong performance across key metrics.
The company's Profit After Tax (PAT) surged by 85.9% YoY to reach ₹650 million and it has achieved the highest-ever quarterly operating revenues of ₹9,116 million, marking a 10.7% increase year-on-year (YoY). reflecting robust operational efficiency and strategic growth initiatives.
Dodla Dairy's value-added product (VAP) sales reached ₹3,139 million, up 21.4% YoY, and contributed 35.4% to the total revenue. The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin expanded by 420 basis points YoY to 11.5%, with EBITDA growing by 74.2% YoY to ₹1,051 million.
The company also reported a significant increase in average milk procurement and sales, underscoring its effective supply chain management and market reach.
Mr. Dodla Sunil Reddy, Managing Director of Dodla Dairy, commented on the results, “During Q1 FY24, Dodla Dairy achieved an all-time high revenue of ₹9,116 million, reflecting a 10.7% growth on a YoY basis.
We saw record quarterly sales for both value-added products and our international business, with a 38% growth in international sales reaching ₹836 million. Our focus on expanding our VAP portfolio has started yielding results, with its contribution to sales increasing from 32% in Q1 FY23 to 35% in Q1 FY24.
This, combined with a significant 74.2% increase in EBITDA and 85.9% rise in PAT, highlights our successful efforts in improving margins and optimizing procurement.” Dodla Dairy is committed to broadening its revenue base and increasing its international business contribution over the long term.
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Dodla Q1FY24 Results
For Q1 FY24, Dodla Dairy Ltd. reported an average milk procurement of 17.6 lakh litres per day (LLPD), reflecting a 10.9% increase year-on-year (YoY). The company’s average milk sales were 11.3 LLPD, up by 2.5% YoY.
Curd sales reached 467.4 metric tonnes per day (MTPD), marking a 6.3% YoY growth. Additionally, value-added products contributed ₹3,138.6 million, accounting for 35.4% of total revenues, and experienced a significant 21.4% increase YoY.
Operating Revenues: ₹9,116 million (up 10.7% YoY)
Domestic Business Revenues: ₹8,279 million (up 8.5% YoY)
International Business Revenues: ₹836 million (up 38% YoY)
Gross Margin: 29.1% (up from 23.7% YoY)
EBITDA: ₹1,051 million (up 74.2% YoY)
EBITDA Margin: 11.5% (up 420 bps YoY)
Profit After Tax (PAT): ₹650 million (up 85.9% YoY)
PAT Margin: 7.1% (up from 4.2% YoY)
Earnings Per Share (EPS): ₹10.81 (up from ₹5.83 YoY)
Dodla Dairy
Dodla Dairy Ltd, founded in 1995, is a major Indian dairy company that processes and sells a wide range of milk products, including milk, curd, ghee, paneer, and ice cream. Operating in 5 states with products available in 13, the company runs 152 milk chilling centers and distributes through over 55 sales offices and more than 2,100 distributors.
It also operates in Uganda and Kenya and has 626 retail parlours across Andhra Pradesh, Telangana, Tamil Nadu, and Karnataka.
Dodla Q1FY24 Results: PAT increases by 85.9% YoY - FAQs
1. What was Dodla Dairy’s revenue for Q1 FY24?
Dodla Dairy’s revenue for Q1 FY24 was ₹9,116 million, reflecting a significant increase from the previous year.
2. How much did revenue increase year-on-year (YoY) for Q1 FY24?
The company’s revenue grew by 10.7% year-on-year in Q1 FY24.
3. What was Dodla Dairy’s Profit After Tax (PAT) for Q1 FY24?
The Profit After Tax (PAT) for Q1 FY24 was ₹650 million, showing a substantial rise.
4. How much did PAT increase YoY in Q1 FY24?
PAT increased by an impressive 85.9% year-on-year in Q1 FY24.
5. What is the EBITDA for Q1 FY24?
The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for Q1 FY24 was ₹1,051 million.
6. How did EBITDA change YoY in Q1 FY24?
EBITDA grew significantly by 74.2% year-on-year in Q1 FY24.
7. What was the EBITDA margin in Q1 FY24?
The EBITDA margin for Q1 FY24 was 11.5%, reflecting improved profitability.
8. By how many basis points did the EBITDA margin expand YoY?
The EBITDA margin expanded by 420 basis points year-on-year in Q1 FY24.
9. What was the Gross Margin for Q1 FY24?
The Gross Margin for Q1 FY24 was 29.1%, indicating a strong margin performance.
10. How did the Gross Margin change YoY in Q1 FY24?
The Gross Margin increased from 23.7% in Q1 FY23 to 29.1% in Q1 FY24.
11. What is the Earnings Per Share (EPS) for Q1 FY24?
The Earnings Per Share (EPS) for Q1 FY24 was ₹10.81.
12. How much did EPS increase YoY in Q1 FY24?
EPS increased from ₹5.83 in Q1 FY23 to ₹10.81 in Q1 FY24.
13. What was the PAT margin for Q1 FY24?
The PAT margin for Q1 FY24 was 7.1%, reflecting a strong profitability margin.
14. How did the PAT margin change YoY in Q1 FY24?
The PAT margin improved from 4.2% in Q1 FY23 to 7.1% in Q1 FY24.
15. What was the average milk procurement for Q1 FY24?
The average milk procurement for Q1 FY24 was 17.6 lakh litres per day (LLPD).
16. How much did milk procurement increase YoY?
Milk procurement increased by 10.9% year-on-year in Q1 FY24.
17. What was the average milk sales for Q1 FY24?
The average milk sales for Q1 FY24 were 11.3 lakh litres per day (LLPD).
18. How much did milk sales increase YoY?
Milk sales increased by 2.5% year-on-year in Q1 FY24.
19. What were the curd sales in Q1 FY24?
The curd sales for Q1 FY24 were 467.4 metric tonnes per day (MTPD).
20. How much did curd sales grow YoY?
Curd sales grew by 6.3% year-on-year in Q1 FY24.
21. What was the revenue from value-added products (VAP) in Q1 FY24?
Revenue from value-added products (VAP) was ₹3,138.6 million in Q1 FY24.
22. What percentage of total revenue was from value-added products?
Value-added products contributed 35.4% of the total revenue in Q1 FY24.
23. How much did VAP sales increase YoY?
Sales of value-added products increased by 21.4% year-on-year in Q1 FY24.
24. What was the international business revenue in Q1 FY24?
The international business revenue for Q1 FY24 was ₹836 million.
25. How much did international business revenue increase YoY?
International business revenue increased by 38% year-on-year in Q1 FY24.
26. What was the domestic business revenue in Q1 FY24?
The domestic business revenue for Q1 FY24 was ₹8,279 million.
27. How much did domestic business revenue increase YoY?
Domestic business revenue increased by 8.5% year-on-year in Q1 FY24.
28. How many milk chilling centers does Dodla Dairy operate?
Dodla Dairy operates 152 milk chilling centers.
29. In how many states are Dodla Dairy’s products available?
Dodla Dairy’s products are available in 13 states.
30. How many retail parlours does Dodla Dairy have?
Dodla Dairy has 626 retail parlours.