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Dodla Dairy — Conviction On Growth Intact With Margin Stability; Systematix Maintains 'Buy'

Systematix believes a premium multiple is achievable given confidence on growth, sustained high margins and deft capacity expansion opening up additional levers of growth.

<div class="paragraphs"><p>Near-term, Dodla flagged some impact of early onset of rains on Q1 FY26 sales of summer-contextual VAP products like flavored milk, buttermilk, ice creams.</p><p>(Photo source: Company website)</p></div>
Near-term, Dodla flagged some impact of early onset of rains on Q1 FY26 sales of summer-contextual VAP products like flavored milk, buttermilk, ice creams.

(Photo source: Company website)

Dodla Dairy’s management issued an upbeat business outlook at their roadshow hosted by Systematix. Dodla expects topline CAGR of ~15% to sustain over the medium-term (FY22-FY25 sales CAGR ~18%), sees clear visibility of double-digit growth over the next four-five years, and will strive to double revenues over this period.
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