The massive loss was due to a one-time write-down of inventory worth Rs 509.50 crore.
DDL is among the few companies in the listed dairy space with a proven track record, strong balance sheet and return ratios, and strong management quality and qualifies to be one of the stocks to own
On Monday, Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets milk and milk products under the Amul brand, announced a hike in milk prices by Rs 2 per litre from Tuesday.
The company plans to expand its Bhagyalakshmi Dairy Farm, which supplies milk exclusively under 'Pride of Cows' brand, to over 15,000 cows by 2026 and is, therefore, expanding the portfolio under this brand to create a market for increased milk being produced.
Given the lack of worthy options in the space and Dodla Dairy's track record of market share gains, the IPO is a bet to be subscribed for listing gains
IFC and Sixth Sense Venture Advisors, will invest Rs 155 crore and Rs 50 crore, respectively. Promoter and family will further invest Rs 111 crore, maintaining the promoter stake at 46 per cent, Parag Milk Foods said in a regulatory filing.
ICICI Securities recommended hold rating on Parag Milk Foods with a target price of Rs 104 in its research report dated September 08, 2020.
The promoters have repaid Kotak Mahindra Investments Rs 54 crore of the Rs 64-crore loan.
Norges Bank on account of the Government Pension Fund Global offloaded 6,02,597 shares of the company at Rs 93.06 per share on the NSE and 8,15,000 shares at Rs 92 per share on the BSE.