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Subscribe to Dodla Dairy: Arihant Capital

Arihant Capital has come out with its report on Dodla Dairy. The research firm has recommended to ''Subscribe'' the ipo in its research report as on June 15, 2021.

June 15, 2021 / 01:43 PM IST
 
 
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Arihant Capital IPO report on Dodla Dairy


Incorporated in 1995, Dodla Dairy Limited (DDL) is an integrated dairy company in South India that is engaged in the procurement, processing, distribution, and marketing of milk and other dairy products. It processes and sells milk including standardized, toned, double toned milk, and produces dairy products like curd, butter, ghee, ice cream, flavoured milk, etc. Its Indian operations are mainly undertaken under the brand name of "Dodla", "Dodla Dairy", and "KC+" whereas it serves overseas market under the brand name of "Dodla Dairy", "Dairy Top", and "Dodla+". Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, and Maharashtra are the key Indian market segments served by the company while in the overseas market, it mainly serves countries like Uganda and Kenya.


Valuation and Outlook


We believe the key determinants of revenue growth as well as profitability for DDL in the coming 3-5 years will be: 1) strengthening direct milk procurement, 2) right product mix, 3) rising acceptance of value added milk, and 4) distribution expansion. Hence, we believe the IPO can be SUBSCRIBED for listing gain.


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