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Last Updated on: 22 July, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 543306 | NSE: DODLA

Fundamental Analysis of Dodla Dairy Ltd

Share Price and Basic Stock Data

Last Updated: July 20, 2024, 10:02 pm

Market Cap 6,906 Cr.
Current Price 1,161
High / Low1,238/651
Stock P/E42.3
Book Value 191
Dividend Yield0.00 %
ROCE22.1 %
ROE15.5 %
Face Value 10.0
PEG Ratio1.65

Data Source: screener.in

Competitors of Dodla Dairy Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Dodla Dairy Ltd 6,906 Cr. 1,1611,238/65142.3 1910.00 %22.1 %15.5 % 10.0
Vadilal Industries Ltd 3,046 Cr. 4,2375,143/2,13320.9 7540.04 %27.2 %31.1 % 10.0
Umang Dairies Ltd 318 Cr. 144165/62.2246 20.50.00 %7.17 %2.90 % 5.00
Industry Average1,682.00 Cr2,190.50133.45387.250.02%17.19%17.00%7.50

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales530512566575590717695675724823768747787
Expenses495461505523543672636622691763698664712
Operating Profit36516152474559543460708375
OPM %7%10%11%9%8%6%8%8%5%7%9%11%10%
Other Income3334446767768
Interest2340000000011
Depreciation13131313131516161516171818
Profit before tax24384842383449442551597064
Tax %60%5%38%36%-7%27%19%19%10%31%26%41%27%
Net Profit10362927402539352335444147
EPS in Rs1.646.064.944.516.804.196.635.953.795.887.336.957.87

Last Updated: July 11, 2024, 8:29 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: July 11, 2024, 1:20 am

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales1,5901,6922,1391,9442,2432,8123,125
Expenses1,4761,5561,9961,7002,0312,6192,835
Operating Profit114135143244212193290
OPM %7%8%7%13%9%7%9%
Other Income6756132226
Interest11121713723
Depreciation28374951526170
Profit before tax809382186166152244
Tax %29%33%39%32%20%19%32%
Net Profit576350126133122167
EPS in Rs173.7211.278.9621.6022.3220.5528.03
Dividend Payout %0%0%58%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)10.53%-20.63%152.00%5.56%-8.27%36.89%
Change in YoY Net Profit Growth (%)0.00%-31.16%172.63%-146.44%-13.83%45.16%

Growth

Compounded Sales Growth
10 Years:%
5 Years:13%
3 Years:17%
TTM:11%
Compounded Profit Growth
10 Years:%
5 Years:22%
3 Years:9%
TTM:36%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:27%
1 Year:96%
Return on Equity
10 Years:%
5 Years:16%
3 Years:15%
Last Year:15%

Last Updated: July 17, 2024, 4:33 pm

Balance Sheet

Last Updated: July 11, 2024, 1:20 am

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital3565658595959
Reserves3363513786007849131,079
Borrowings13216716099133246
Other Liabilities135178199216232247293
Total Liabilities6077527939721,0881,2511,478
Fixed Assets327500536549566624713
CWIP161111845812
Investments67261260184260196
Other Assets197214233355334310556
Total Assets6077527939721,0881,2511,478

Reserves and Borrowings Chart

Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 87136166245171161-1
Cash from Investing Activity -66-148-76-200-137-21030
Cash from Financing Activity -4160-2611-4915-1
Net Cash Flow-20486455-14-3528

Free Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-18.00-32.00-17.00145.00199.00161.00244.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days1211111
Inventory Days40362726272062
Days Payable19221723232224
Cash Conversion Cycle22161145-040
Working Capital Days92-5-8-7-719
ROCE %20%17%30%21%16%22%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters62.54%62.54%62.54%62.54%62.54%62.21%62.21%62.21%62.21%62.21%62.21%62.21%
FIIs4.52%6.98%6.48%4.40%4.29%13.04%12.83%12.83%10.59%10.92%11.34%11.36%
DIIs14.16%14.82%14.96%16.84%16.86%14.42%15.85%16.06%18.06%16.99%16.90%17.62%
Public18.79%15.67%16.03%16.22%16.32%10.34%9.10%8.91%9.15%9.89%9.55%8.82%
No. of Shareholders62,53946,43243,14343,39042,72140,90439,39637,73834,45334,47932,35629,700

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Small Cap Fund3,672,3761.12318.89648,9512024-07-21465.89%
DSP Small Cap Fund3,237,1722.04281.1648,9512024-07-21398.83%
SBI Magnum Childrens Benefit Fund - Investment Plan700,000360.78648,9512024-07-217.87%
SBI Magnum Midcap Fund648,9510.3156.35648,9512024-07-210%
Edelweiss Small Cap Fund531,4801.3546.15648,9512024-07-21-18.1%
SBI Consumption Opportunities Fund200,0000.817.37648,9512024-07-21-69.18%
Edelweiss Recently Listed IPO Fund86,0420.847.47648,9512024-07-21-86.74%
SBI Long Term Advantage Fund - Series IV70,0002.916.08648,9512024-07-21-89.21%
Taurus Mid Cap Fund12,2510.851.06648,9512024-07-21-98.11%
SBI Magnum Children Benefit Plan10,0000.931.04648,9512024-07-21-98.46%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)28.0320.5522.4322.488.96
Diluted EPS (Rs.)27.7520.3922.2422.338.96
Cash EPS (Rs.)39.8030.8431.1230.3017.79
Book Value[Excl.RevalReserv]/Share (Rs.)191.43163.42141.72112.8177.87
Book Value[Incl.RevalReserv]/Share (Rs.)191.43163.42141.72112.8177.87
Revenue From Operations / Share (Rs.)525.35472.67377.08333.31384.28
PBDIT / Share (Rs.)53.1636.0237.7242.6626.44
PBIT / Share (Rs.)41.3825.7328.9233.9717.60
PBT / Share (Rs.)40.9825.5227.8331.9314.71
Net Profit / Share (Rs.)28.0320.5522.3221.608.96
NP After MI And SOA / Share (Rs.)28.0320.5522.3221.608.96
PBDIT Margin (%)10.117.6110.0012.806.88
PBIT Margin (%)7.875.447.6710.194.58
PBT Margin (%)7.805.397.389.573.82
Net Profit Margin (%)5.334.345.926.472.33
NP After MI And SOA Margin (%)5.334.345.926.472.33
Return on Networth / Equity (%)14.6412.5715.7519.1411.50
Return on Capital Employeed (%)20.2514.7719.1025.4717.01
Return On Assets (%)11.289.7712.2012.956.23
Long Term Debt / Equity (X)0.020.010.000.080.21
Total Debt / Equity (X)0.020.010.000.080.31
Asset Turnover Ratio (%)2.292.402.122.162.66
Current Ratio (X)2.702.202.152.070.99
Quick Ratio (X)1.221.641.501.570.45
Inventory Turnover Ratio (X)10.1417.5815.0512.7712.74
Dividend Payout Ratio (NP) (%)0.000.000.000.0049.99
Dividend Payout Ratio (CP) (%)0.000.000.000.0025.16
Earning Retention Ratio (%)0.000.000.000.0050.01
Cash Earning Retention Ratio (%)0.000.000.000.0074.84
Interest Coverage Ratio (X)131.78177.0934.4320.929.12
Interest Coverage Ratio (Post Tax) (X)70.47102.0621.3811.594.09
Enterprise Value (Cr.)4696.412655.642534.330.000.00
EV / Net Operating Revenue (X)1.500.941.130.000.00
EV / EBITDA (X)14.8512.3911.290.000.00
MarketCap / Net Operating Revenue (X)1.530.981.190.000.00
Retention Ratios (%)0.000.000.000.0050.00
Price / BV (X)4.192.843.160.000.00
Price / Net Operating Revenue (X)1.530.981.190.000.00
EarningsYield0.030.040.040.000.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 1,277.34

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 10.02% compared to the current price 1161

Intrinsic Value: 1,604.61

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 38.21% compared to the current price 1161

Last 5 Year EPS CAGR: 25.62%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 18.00%, which is a positive sign.
  2. The stock has a low average Working Capital Days of 0.43, which is a positive sign.
  3. The company has higher reserves (634.43 cr) compared to borrowings (92.71 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (1.71 cr) and profit (143.29 cr) over the years.
  1. The stock has a high average Cash Conversion Cycle of 14.00, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Dodla Dairy Ltd:
    1. Net Profit Margin: 5.33%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 20.25% (Industry Average ROCE: 17.19%%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ✗ ROE%: 14.64% (Industry Average ROE: 17.00%%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 70.47
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.22
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. ✓ Stock P/E: 42.3 (Industry average Stock P/E: 133.45)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. ✓ Total Debt / Equity: 0.02
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Dodla Dairy Ltd. is a Public Limited Listed company incorporated on 15/05/1995 and has its registered office in the State of Telangana, India. Company’s Corporate Identification Number(CIN) is L15209TG1995PLC020324 and registration number is 020324. Currently Company is involved in the business activities of Manufacture of dairy products. Company’s Total Operating Revenue is Rs. 2096.48 Cr. and Equity Capital is Rs. 59.49 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Milk & Milk Products8-2-293/82/A, 270/Q, Road No 10-C, Hyderabad Telangana 500033cs@dodladairy.com
http://www.dodladairy.com
Management
NamePosition Held
Mr. Dodla Sesha ReddyChairman & Director
Mr. Dodla Sunil ReddyManaging Director
Mr. A Madhusudhana ReddyWhole Time Director
Mr. Akshay TannaNon Exe.Non Ind.Director
Mr. Tallam Puranam RamanIndependent Director
Dr. Raja RathinamIndependent Director
Mrs. Vinoda KailasIndependent Director
Mr. Rampraveen SwaminathanIndependent Director

FAQ

What is the latest fair value of Dodla Dairy Ltd?

The latest fair value of Dodla Dairy Ltd is ₹1277.34.

What is the Market Cap of Dodla Dairy Ltd?

The Market Cap of Dodla Dairy Ltd is 6,906 Cr..

What is the current Stock Price of Dodla Dairy Ltd as on 22 July 2024?

The current stock price of Dodla Dairy Ltd as on 22 July 2024 is 1,161.

What is the High / Low of Dodla Dairy Ltd stocks in FY 2024?

In FY 2024, the High / Low of Dodla Dairy Ltd stocks is 1,238/651.

What is the Stock P/E of Dodla Dairy Ltd?

The Stock P/E of Dodla Dairy Ltd is 42.3.

What is the Book Value of Dodla Dairy Ltd?

The Book Value of Dodla Dairy Ltd is 191.

What is the Dividend Yield of Dodla Dairy Ltd?

The Dividend Yield of Dodla Dairy Ltd is 0.00 %.

What is the ROCE of Dodla Dairy Ltd?

The ROCE of Dodla Dairy Ltd is 22.1 %.

What is the ROE of Dodla Dairy Ltd?

The ROE of Dodla Dairy Ltd is 15.5 %.

What is the Face Value of Dodla Dairy Ltd?

The Face Value of Dodla Dairy Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Dodla Dairy Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE