NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Dodla Dairy Ltd. reported revenue/Ebitda/profit after tax growth of 10.7%/74.2%/85.9%, YoY, respectively. Gross margin expanded 543 bpsYoY led by-
deflationary trend in milk procurement prices and
higher revenue share of value-added products.
Ebitda margin expanded 420 bps YoY as higher other expenses partly offset the benefits of lower input prices.
We believe higher ad spends may have led to increase in other expenses (+114 bps YoY). Standalone revenue/profit after tax grew 8.5%/103%, YoY, respectively.
With focus on geographical/ distribution expansion, the company may further strengthen its market share. We see scope for expansion in margin and value added products contribution in next two-three quarters. We raise our FY25/26E earnings by 7.0%/6.4% to factor in strong Q1 result.
Our DCF-based revised target price stands at Rs 1,320 (earlier: Rs 1,070). Maintain Add.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Comprehensive Budget 2026 coverage, LIVE TV analysis, Stock Market and Industry reactions, Income Tax changes and Latest News on NDTV Profit.
