Modern Dairies Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: March 25, 2026, 4:19 am

Market Cap	97.3 Cr.
Current Price	34.2
Intrinsic Value	₹11.96
High / Low	60.9/30.0
Stock P/E	4.33
Book Value	17.0
Dividend Yield	0.00 %
ROCE	%
ROE	%
Face Value	10.0
PEG Ratio	0.13

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Modern Dairies Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Modern Dairies Ltd	97.3 Cr.	34.2	60.9/30.0	4.33	17.0	0.00 %	%	%	10.0
Healthy Life Agritec Ltd	33.7 Cr.	6.79	46.7/5.37	8.94	7.25	0.00 %	13.3 %	10.6 %	10.0
Heritage Foods Ltd	2,867 Cr.	309	542/294	17.5	112	0.81 %	25.3 %	20.2 %	5.00
Dodla Dairy Ltd	6,278 Cr.	1,041	1,525/955	23.2	254	0.48 %	26.6 %	19.8 %	10.0
Vadilal Industries Ltd	3,105 Cr.	4,318	7,399/3,990	25.4	1,092	0.49 %	25.1 %	24.0 %	10.0
Industry Average	5,529.50 Cr	846.51		63.12	206.97	0.45%	16.31%	13.64%	7.00

All Competitor Stocks of Modern Dairies Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	49.31	80.92	83.12	80.60	99.95	97.83	94.43	73.84	88.76	91.06	78.30	81.96	87.48
Expenses	45.90	76.33	79.09	76.64	93.76	90.36	89.43	69.75	85.64	89.32	75.27	79.24	85.09
Operating Profit	3.41	4.59	4.03	3.96	6.19	7.47	5.00	4.09	3.12	1.74	3.03	2.72	2.39
OPM %	6.92%	5.67%	4.85%	4.91%	6.19%	7.64%	5.29%	5.54%	3.52%	1.91%	3.87%	3.32%	2.73%
Other Income	1.11	0.35	0.02	19.34	0.14	0.33	0.16	0.36	56.04	0.20	0.14	0.46	0.35
Interest	1.02	1.46	1.32	1.05	0.76	0.69	0.54	0.39	0.45	0.45	0.24	0.26	0.31
Depreciation	0.85	0.86	0.71	0.91	1.04	0.76	0.76	0.74	0.79	0.87	0.84	0.84	0.80
Profit before tax	2.65	2.62	2.02	21.34	4.53	6.35	3.86	3.32	57.92	0.62	2.09	2.08	1.63
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-2,779.03%	21.05%	18.75%	24.54%
Net Profit	2.65	2.62	2.02	21.34	4.52	6.34	3.86	3.32	57.93	17.86	1.65	1.69	1.22
EPS in Rs	1.14	1.12	0.87	9.15	1.94	2.72	1.66	1.42	24.84	6.97	0.64	0.66	0.48

Last Updated: March 3, 2026, 6:46 am

Below is a detailed analysis of the quarterly data for Modern Dairies Ltd based on the most recent figures (Dec 2025) and their trends compared to the previous period:

For Sales, as of Dec 2025, the value is 87.48 Cr.. The value appears strong and on an upward trend. It has increased from 81.96 Cr. (Sep 2025) to 87.48 Cr., marking an increase of 5.52 Cr..
For Expenses, as of Dec 2025, the value is 85.09 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 79.24 Cr. (Sep 2025) to 85.09 Cr., marking an increase of 5.85 Cr..
For Operating Profit, as of Dec 2025, the value is 2.39 Cr.. The value appears to be declining and may need further review. It has decreased from 2.72 Cr. (Sep 2025) to 2.39 Cr., marking a decrease of 0.33 Cr..
For OPM %, as of Dec 2025, the value is 2.73%. The value appears to be declining and may need further review. It has decreased from 3.32% (Sep 2025) to 2.73%, marking a decrease of 0.59%.
For Other Income, as of Dec 2025, the value is 0.35 Cr.. The value appears to be declining and may need further review. It has decreased from 0.46 Cr. (Sep 2025) to 0.35 Cr., marking a decrease of 0.11 Cr..
For Interest, as of Dec 2025, the value is 0.31 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 0.26 Cr. (Sep 2025) to 0.31 Cr., marking an increase of 0.05 Cr..
For Depreciation, as of Dec 2025, the value is 0.80 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 0.84 Cr. (Sep 2025) to 0.80 Cr., marking a decrease of 0.04 Cr..
For Profit before tax, as of Dec 2025, the value is 1.63 Cr.. The value appears to be declining and may need further review. It has decreased from 2.08 Cr. (Sep 2025) to 1.63 Cr., marking a decrease of 0.45 Cr..
For Tax %, as of Dec 2025, the value is 24.54%. The value appears to be increasing, which may not be favorable. It has increased from 18.75% (Sep 2025) to 24.54%, marking an increase of 5.79%.
For Net Profit, as of Dec 2025, the value is 1.22 Cr.. The value appears to be declining and may need further review. It has decreased from 1.69 Cr. (Sep 2025) to 1.22 Cr., marking a decrease of 0.47 Cr..
For EPS in Rs, as of Dec 2025, the value is 0.48. The value appears to be declining and may need further review. It has decreased from 0.66 (Sep 2025) to 0.48, marking a decrease of 0.18.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 17, 2026, 12:20 pm

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	638	625	497	457	467	560	766	610	241	217	362	348	339
Expenses	619	629	499	461	480	549	757	600	231	201	340	334	329
Operating Profit	19	-3	-2	-4	-14	11	9	10	10	17	22	14	10
OPM %	3%	-1%	-0%	-1%	-3%	2%	1%	2%	4%	8%	6%	4%	3%
Other Income	14	2	0	14	0	0	0	-22	2	1	20	57	1
Interest	16	17	18	17	0	0	0	0	0	2	4	2	1
Depreciation	7	5	5	5	5	5	6	22	6	3	3	3	3
Profit before tax	9	-24	-24	-11	-19	6	3	-35	5	12	34	66	6
Tax %	-2%	-7%	-1%	0%	0%	0%	0%	0%	0%	0%	0%	-26%
Net Profit	9	-22	-24	-11	-19	6	3	-35	5	12	34	83	22
EPS in Rs	4.05	-9.54	-10.39	-4.89	-7.96	2.60	1.50	-14.89	2.12	5.21	14.68	32.38	8.75
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-344.44%	-9.09%	54.17%	-72.73%	131.58%	-50.00%	-1266.67%	114.29%	140.00%	183.33%	144.12%
Change in YoY Net Profit Growth (%)	0.00%	335.35%	63.26%	-126.89%	204.31%	-181.58%	-1216.67%	1380.95%	25.71%	43.33%	-39.22%

Modern Dairies Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	-6%
5 Years:	-15%
3 Years:	13%
TTM:	-11%

Compounded Profit Growth
10 Years:	12%
5 Years:	51%
3 Years:	76%
TTM:	48%

Stock Price CAGR
10 Years:	14%
5 Years:	65%
3 Years:	70%
1 Year:	-20%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

Last Updated: September 5, 2025, 3:55 pm

Balance Sheet

Last Updated: December 4, 2025, 3:08 am

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	23	23	23	23	23	23	23	23	23	23	23	26	26
Reserves	-35	-57	-81	-93	-111	-105	-102	-136	-131	-119	-85	15	18
Borrowings	179	180	173	177	167	165	155	50	0	1	8	7	13
Other Liabilities	39	53	59	46	38	53	53	138	170	180	144	69	63
Total Liabilities	207	199	174	153	117	136	130	74	62	85	90	117	120
Fixed Assets	84	82	79	79	77	76	74	34	30	29	30	31	30
CWIP	0	0	0	0	0	0	2	0	0	1	1	0	0
Investments	0	0	0	0	0	0	0	0	0	0	0	0	2
Other Assets	123	117	95	74	40	59	54	40	32	56	59	85	88
Total Assets	207	199	174	153	117	136	130	74	62	85	90	117	120

Below is a detailed analysis of the balance sheet data for Modern Dairies Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:

For Equity Capital, as of Sep 2025, the value is 26.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 26.00 Cr..
For Reserves, as of Sep 2025, the value is 18.00 Cr.. The value appears strong and on an upward trend. It has increased from 15.00 Cr. (Mar 2025) to 18.00 Cr., marking an increase of 3.00 Cr..
For Borrowings, as of Sep 2025, the value is 13.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 7.00 Cr. (Mar 2025) to 13.00 Cr., marking an increase of 6.00 Cr..
For Other Liabilities, as of Sep 2025, the value is 63.00 Cr.. The value appears to be improving (decreasing). It has decreased from 69.00 Cr. (Mar 2025) to 63.00 Cr., marking a decrease of 6.00 Cr..
For Total Liabilities, as of Sep 2025, the value is 120.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 117.00 Cr. (Mar 2025) to 120.00 Cr., marking an increase of 3.00 Cr..
For Fixed Assets, as of Sep 2025, the value is 30.00 Cr.. The value appears to be declining and may need further review. It has decreased from 31.00 Cr. (Mar 2025) to 30.00 Cr., marking a decrease of 1.00 Cr..
For CWIP, as of Sep 2025, the value is 0.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 0.00 Cr..
For Investments, as of Sep 2025, the value is 2.00 Cr.. The value appears strong and on an upward trend. It has increased from 0.00 Cr. (Mar 2025) to 2.00 Cr., marking an increase of 2.00 Cr..
For Other Assets, as of Sep 2025, the value is 88.00 Cr.. The value appears strong and on an upward trend. It has increased from 85.00 Cr. (Mar 2025) to 88.00 Cr., marking an increase of 3.00 Cr..
For Total Assets, as of Sep 2025, the value is 120.00 Cr.. The value appears strong and on an upward trend. It has increased from 117.00 Cr. (Mar 2025) to 120.00 Cr., marking an increase of 3.00 Cr..

Notably, the Reserves (18.00 Cr.) exceed the Borrowings (13.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	-7	17	30	3	16	4	6	7	17	15	28	20
Cash from Investing Activity +	-1	-2	-2	-5	-3	-4	-5	-3	-2	-3	-5	-4
Cash from Financing Activity +	8	-16	-22	-3	-11	-0	-2	-3	-9	-19	-22	-10
Net Cash Flow	0	-1	6	-5	1	-1	-1	0	6	-7	1	7

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-160.00	-183.00	-175.00	-181.00	-181.00	-154.00	-146.00	-40.00	10.00	16.00	14.00	7.00

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

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	12	18	22	22	7	20	11	6	5	32	19	22
Inventory Days	50	47	36	30	14	10	13	16	31	73	39	38
Days Payable	12	19	23	22	15	20	18	11	11	88	58	61
Cash Conversion Cycle	51	46	35	30	6	10	6	11	25	16	0	-1
Working Capital Days	8	-11	-44	-39	-136	-109	-74	-89	-223	-217	-91	-14
ROCE %	9%	-4%	-5%	-8%	-20%	8%	4%	-172%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Feb 2026
Promoters	45.71%	45.71%	45.71%	45.71%	45.71%	45.71%	45.71%	50.59%	50.59%	50.59%	50.59%	55.46%
DIIs	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.03%
Public	54.26%	54.24%	54.25%	54.25%	54.25%	54.25%	54.25%	49.37%	49.37%	49.38%	49.39%	44.52%
No. of Shareholders	15,540	16,371	17,149	16,691	17,149	16,973	16,934	16,967	16,815	16,859	16,941	16,941

Shareholding Pattern Chart

No. of Shareholders

Modern Dairies Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	35.46	14.68	5.21	2.12	-14.89
Diluted EPS (Rs.)	35.32	14.68	5.21	2.12	-14.89
Cash EPS (Rs.)	33.56	16.12	6.64	4.88	-5.26
Book Value[Excl.RevalReserv]/Share (Rs.)	15.73	-26.42	-41.06	-46.25	-48.42
Book Value[Incl.RevalReserv]/Share (Rs.)	15.73	-26.42	-41.06	-46.25	-48.42
Revenue From Operations / Share (Rs.)	135.66	154.76	93.11	103.49	261.18
PBDIT / Share (Rs.)	5.75	9.50	7.75	4.91	4.51
PBIT / Share (Rs.)	4.53	8.03	6.31	2.15	-5.10
PBT / Share (Rs.)	25.62	14.65	5.20	2.12	-14.87
Net Profit / Share (Rs.)	32.33	14.65	5.20	2.12	-14.87
PBDIT Margin (%)	4.24	6.13	8.32	4.74	1.72
PBIT Margin (%)	3.33	5.18	6.78	2.08	-1.95
PBT Margin (%)	18.88	9.46	5.58	2.04	-5.69
Net Profit Margin (%)	23.83	9.46	5.58	2.04	-5.69
Return on Networth / Equity (%)	205.57	-55.45	-12.67	-4.58	0.00
Return on Capital Employeed (%)	23.65	-35.68	-15.58	-4.71	10.63
Return On Assets (%)	70.95	38.12	14.28	8.02	-46.65
Long Term Debt / Equity (X)	0.17	-0.12	0.00	-0.01	0.00
Total Debt / Equity (X)	0.17	-0.12	-0.01	-0.01	0.00
Asset Turnover Ratio (%)	3.37	4.13	2.96	3.55	5.54
Current Ratio (X)	0.92	0.37	0.28	0.16	0.20
Quick Ratio (X)	0.52	0.17	0.13	0.08	0.07
Inventory Turnover Ratio (X)	12.45	10.13	7.87	9.22	22.56
Interest Coverage Ratio (X)	8.07	5.81	7.02	139.41	273.55
Interest Coverage Ratio (Post Tax) (X)	15.77	4.91	5.72	61.17	-309.53
Enterprise Value (Cr.)	135.21	75.81	44.48	12.22	22.12
EV / Net Operating Revenue (X)	0.38	0.20	0.20	0.05	0.03
EV / EBITDA (X)	9.15	3.42	2.46	1.06	2.10
MarketCap / Net Operating Revenue (X)	0.39	0.19	0.20	0.07	0.03
Price / BV (X)	3.38	-1.13	-0.45	-0.16	-0.20
Price / Net Operating Revenue (X)	0.39	0.19	0.20	0.07	0.03
EarningsYield	0.60	0.49	0.27	0.27	-1.48

After reviewing the key financial ratios for Modern Dairies Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 25, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 10.00.
For Basic EPS (Rs.), as of Mar 25, the value is 35.46. This value is within the healthy range. It has increased from 14.68 (Mar 24) to 35.46, marking an increase of 20.78.
For Diluted EPS (Rs.), as of Mar 25, the value is 35.32. This value is within the healthy range. It has increased from 14.68 (Mar 24) to 35.32, marking an increase of 20.64.
For Cash EPS (Rs.), as of Mar 25, the value is 33.56. This value is within the healthy range. It has increased from 16.12 (Mar 24) to 33.56, marking an increase of 17.44.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 15.73. It has increased from -26.42 (Mar 24) to 15.73, marking an increase of 42.15.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 15.73. It has increased from -26.42 (Mar 24) to 15.73, marking an increase of 42.15.
For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 135.66. It has decreased from 154.76 (Mar 24) to 135.66, marking a decrease of 19.10.
For PBDIT / Share (Rs.), as of Mar 25, the value is 5.75. This value is within the healthy range. It has decreased from 9.50 (Mar 24) to 5.75, marking a decrease of 3.75.
For PBIT / Share (Rs.), as of Mar 25, the value is 4.53. This value is within the healthy range. It has decreased from 8.03 (Mar 24) to 4.53, marking a decrease of 3.50.
For PBT / Share (Rs.), as of Mar 25, the value is 25.62. This value is within the healthy range. It has increased from 14.65 (Mar 24) to 25.62, marking an increase of 10.97.
For Net Profit / Share (Rs.), as of Mar 25, the value is 32.33. This value is within the healthy range. It has increased from 14.65 (Mar 24) to 32.33, marking an increase of 17.68.
For PBDIT Margin (%), as of Mar 25, the value is 4.24. This value is below the healthy minimum of 10. It has decreased from 6.13 (Mar 24) to 4.24, marking a decrease of 1.89.
For PBIT Margin (%), as of Mar 25, the value is 3.33. This value is below the healthy minimum of 10. It has decreased from 5.18 (Mar 24) to 3.33, marking a decrease of 1.85.
For PBT Margin (%), as of Mar 25, the value is 18.88. This value is within the healthy range. It has increased from 9.46 (Mar 24) to 18.88, marking an increase of 9.42.
For Net Profit Margin (%), as of Mar 25, the value is 23.83. This value exceeds the healthy maximum of 10. It has increased from 9.46 (Mar 24) to 23.83, marking an increase of 14.37.
For Return on Networth / Equity (%), as of Mar 25, the value is 205.57. This value is within the healthy range. It has increased from -55.45 (Mar 24) to 205.57, marking an increase of 261.02.
For Return on Capital Employeed (%), as of Mar 25, the value is 23.65. This value is within the healthy range. It has increased from -35.68 (Mar 24) to 23.65, marking an increase of 59.33.
For Return On Assets (%), as of Mar 25, the value is 70.95. This value is within the healthy range. It has increased from 38.12 (Mar 24) to 70.95, marking an increase of 32.83.
For Long Term Debt / Equity (X), as of Mar 25, the value is 0.17. This value is below the healthy minimum of 0.2. It has increased from -0.12 (Mar 24) to 0.17, marking an increase of 0.29.
For Total Debt / Equity (X), as of Mar 25, the value is 0.17. This value is within the healthy range. It has increased from -0.12 (Mar 24) to 0.17, marking an increase of 0.29.
For Asset Turnover Ratio (%), as of Mar 25, the value is 3.37. It has decreased from 4.13 (Mar 24) to 3.37, marking a decrease of 0.76.
For Current Ratio (X), as of Mar 25, the value is 0.92. This value is below the healthy minimum of 1.5. It has increased from 0.37 (Mar 24) to 0.92, marking an increase of 0.55.
For Quick Ratio (X), as of Mar 25, the value is 0.52. This value is below the healthy minimum of 1. It has increased from 0.17 (Mar 24) to 0.52, marking an increase of 0.35.
For Inventory Turnover Ratio (X), as of Mar 25, the value is 12.45. This value exceeds the healthy maximum of 8. It has increased from 10.13 (Mar 24) to 12.45, marking an increase of 2.32.
For Interest Coverage Ratio (X), as of Mar 25, the value is 8.07. This value is within the healthy range. It has increased from 5.81 (Mar 24) to 8.07, marking an increase of 2.26.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 15.77. This value is within the healthy range. It has increased from 4.91 (Mar 24) to 15.77, marking an increase of 10.86.
For Enterprise Value (Cr.), as of Mar 25, the value is 135.21. It has increased from 75.81 (Mar 24) to 135.21, marking an increase of 59.40.
For EV / Net Operating Revenue (X), as of Mar 25, the value is 0.38. This value is below the healthy minimum of 1. It has increased from 0.20 (Mar 24) to 0.38, marking an increase of 0.18.
For EV / EBITDA (X), as of Mar 25, the value is 9.15. This value is within the healthy range. It has increased from 3.42 (Mar 24) to 9.15, marking an increase of 5.73.
For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 0.39. This value is below the healthy minimum of 1. It has increased from 0.19 (Mar 24) to 0.39, marking an increase of 0.20.
For Price / BV (X), as of Mar 25, the value is 3.38. This value exceeds the healthy maximum of 3. It has increased from -1.13 (Mar 24) to 3.38, marking an increase of 4.51.
For Price / Net Operating Revenue (X), as of Mar 25, the value is 0.39. This value is below the healthy minimum of 1. It has increased from 0.19 (Mar 24) to 0.39, marking an increase of 0.20.
For EarningsYield, as of Mar 25, the value is 0.60. This value is below the healthy minimum of 5. It has increased from 0.49 (Mar 24) to 0.60, marking an increase of 0.11.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Modern Dairies Ltd as of March 25, 2026 is: ₹9.01

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.

As of March 25, 2026, Modern Dairies Ltd is Overvalued by 73.65% compared to the current share price ₹34.20

Default values used*: Default value of 15% for ROE is used

Intrinsic Value of Modern Dairies Ltd as of March 25, 2026 is: ₹11.96

Calculation basis:

Intrinsic 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 intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of March 25, 2026, Modern Dairies Ltd is Overvalued by 65.03% compared to the current share price ₹34.20

Default values used*: Default value of 15% for ROE is used

Last 5 Year EPS CAGR: 32.78%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a low average Working Capital Days of -86.58, which is a positive sign. The company has shown consistent growth in sales (471.31 cr) and profit (2.15 cr) over the years.	The stock has a low average ROCE of -15.67%, which may not be favorable. The stock has a high average Cash Conversion Cycle of 19.58, which may not be favorable. The company has higher borrowings (98.08) compared to reserves (-78.62), which may suggest financial risk.

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 Modern Dairies Ltd:
1. Net Profit Margin: 23.83%
  - 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: 23.65% (Industry Average ROCE: 16.31%)
  - 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%: 205.57% (Industry Average ROE: 13.64%)
  - 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): 15.77
  - 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: 0.52
  - 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: 4.33 (Industry average Stock P/E: 63.12)
  - 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: 0.17
  - 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

Modern Dairies Ltd. is a Public Limited Listed company incorporated on 22/04/1992 and has its registered office in the State of Haryana, India. Company's Corporate Identification Number(CIN) is L74899HR1992PLC032998 and registration number is 032998. Currently Company is involved in the business activities of Manufacture of other footwear. Company's Total Operating Revenue is Rs. 348.09 Cr. and Equity Capital is Rs. 25.66 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Milk & Milk Products	136 KM, G.T. Road, Karnal Haryana 132001	Contact not found

Management
Name	Position Held
Mr. Krishan Kumar Goyal	Chairman & Managing Director
Mr. Ashwani Kumar Aggarwal	Executive Director
Prof. Meena Sharma	Independent Director
Prof. Sanjay Kaushik	Independent Director
Dr. Surinder Kumar	Independent Director

FAQ

What is the intrinsic value of Modern Dairies Ltd?

Modern Dairies Ltd's intrinsic value (as of 25 March 2026) is ₹11.96 which is 65.03% lower the current market price of ₹34.20, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's ₹97.3 Cr. market cap, FY2025-2026 high/low of ₹60.9/30.0, reserves of ₹18 Cr, and liabilities of ₹120 Cr.

What is the Market Cap of Modern Dairies Ltd?

The Market Cap of Modern Dairies Ltd is 97.3 Cr..

What is the current Stock Price of Modern Dairies Ltd as on 25 March 2026?

The current stock price of Modern Dairies Ltd as on 25 March 2026 is ₹34.2.

What is the High / Low of Modern Dairies Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Modern Dairies Ltd stocks is ₹60.9/30.0.

What is the Stock P/E of Modern Dairies Ltd?

The Stock P/E of Modern Dairies Ltd is 4.33.

What is the Book Value of Modern Dairies Ltd?

The Book Value of Modern Dairies Ltd is 17.0.

What is the Dividend Yield of Modern Dairies Ltd?

The Dividend Yield of Modern Dairies Ltd is 0.00 %.

What is the ROCE of Modern Dairies Ltd?

The ROCE of Modern Dairies Ltd is %.

What is the ROE of Modern Dairies Ltd?

The ROE of Modern Dairies Ltd is %.

What is the Face Value of Modern Dairies Ltd?

The Face Value of Modern Dairies Ltd is 10.0.