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    you are here: HomeNewsBusinessMoneycontrol Research

    Dodla Dairy: Healthy earnings profile from FY24 to drive rerating

    The trend of low single-digit earnings growth witnessed over the past two years is expected to end and we expect decent double-digit earnings growth to resume from FY24

    Bharat Gianani
    January 25, 2023 / 10:41 AM IST
    Dodla Dairy: Healthy earnings profile from FY24 to drive rerating

    DDL has a strong balance sheet and healthy return ratios. We advise investors to add the stock in the portfolio

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Highlights Mixed results for December 2022 quarter Industry-leading volume growth to continue Organic growth via entry into adjoining areas Healthy balance sheet to help exploit inorganic opportunities Margins to improve Dodla Dairy (DDL; CMP: Rs 508; Market Cap: Rs 3,022 crore) posted a mixed set of results for Q3FY22. While top line grew in healthy double digits, led by price hikes and volume growth, operating margins declined as milk procurement costs increased. DDL would continue to outgrow the dairy industry, led by its penetration into newer geographies. DDL...

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