DODLA DAIRY has announced its results for the year ended March 2024. Let us have a look at the detailed performance review of the company during FY23-24.
DODLA DAIRY Income Statement Analysis
- Operating income during the year rose 11.1% on a year-on-year (YoY) basis.
- The company’s operating profit increased by 50.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 9.3% in FY24 as against 6.8% in FY23.
- Depreciation charges increased by 14.4% and finance costs increased by 34.7% YoY, respectively.
- Other income grew by 17.5% YoY.
- Net profit for the year grew by 36.4% YoY.
- Net profit margins during the year grew from 4.3% in FY23 to 5.3% in FY24.
| No. of Mths Year Ending | 12 Mar-23* | 12 Mar-24* | % Change | |
|---|---|---|---|---|
| Net Sales | Rs m | 28,120 | 31,255 | 11.1% |
| Other income | Rs m | 233 | 274 | 17.5% |
| Total Revenues | Rs m | 28,354 | 31,529 | 11.2% |
| Gross profit | Rs m | 1,919 | 2,893 | 50.8% |
| Depreciation | Rs m | 612 | 701 | 14.4% |
| Interest | Rs m | 21 | 29 | 34.7% |
| Profit before tax | Rs m | 1,518 | 2,438 | 60.6% |
| Tax | Rs m | 296 | 771 | 160.7% |
| Profit after tax | Rs m | 1,223 | 1,667 | 36.4% |
| Gross profit margin | % | 6.8 | 9.3 | |
| Effective tax rate | % | 19.5 | 31.6 | |
| Net profit margin | % | 4.3 | 5.3 | |
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster
DODLA DAIRY Balance Sheet Analysis
- The company’s current liabilities during FY24 stood at Rs 3 billion as compared to Rs 2 billion in FY23, thereby witnessing an increase of 21.6%.
- Long-term debt stood at Rs 288 million as compared to Rs 180 million during FY23, a growth of 59.7%.
- Current assets rose 49% and stood at Rs 7 billion, while fixed assets fell 1% and stood at Rs 8 billion in FY24.
- Overall, the total assets and liabilities for FY24 stood at Rs 15 billion as against Rs 13 billion during FY23, thereby witnessing a growth of 18%.
| No. of Mths Year Ending | 12 Mar-23* | 12 Mar-24* | % Change | |
|---|---|---|---|---|
| Networth | Rs m | 9,692 | 11,358 | 17.2 |
| Current Liabilities | Rs m | 2,155 | 2,621 | 21.6 |
| Long-term Debt | Rs m | 180 | 288 | 59.7 |
| Total Liabilities | Rs m | 12,514 | 14,777 | 18.1 |
| Current assets | Rs m | 4,739 | 7,084 | 49.5 |
| Fixed Assets | Rs m | 7,775 | 7,693 | -1.0 |
| Total Assets | Rs m | 12,514 | 14,777 | 18.1 |
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster
DODLA DAIRY Cash Flow Statement Analysis
- DODLA DAIRY’s cash flow from operating activities (CFO) during FY24 stood at Rs -7 million on a YoY basis.
- Cash flow from investing activities (CFI) during FY24 stood at Rs 300 million on a YoY basis.
- Cash flow from financial activities (CFF) during FY24 stood at Rs -13 million on a YoY basis.
- Overall, net cash flows for the company during FY24 stood at Rs 283 million from the Rs -348 million net cash flows seen during FY23.
| Particulars | No. of months | 12 | 12 | % Change |
|---|---|---|---|---|
| Year Ending | Mar-23 | Mar-24 | ||
| Cash Flow from Operating Activities | Rs m | 1,608 | -7 | – |
| Cash Flow from Investing Activities | Rs m | -2,137 | 300 | – |
| Cash Flow from Financing Activities | Rs m | 146 | -13 | – |
| Net Cash Flow | Rs m | -348 | 283 | – |
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster
Current Valuations for DODLA DAIRY
- The trailing twelve-month earnings per share (EPS) of the company stands at Rs 28.0, an improvement from the EPS of Rs 20.6 recorded last year.
- The price to earnings (P/E) ratio, at the current price of Rs 1,034.0, stands at 36.9 times its trailing twelve months earnings.
- The price to book value (P/BV) ratio at current price levels stands at 5.4 times, while the price to sales ratio stands at 2.0 times.
- The company’s price to cash flow (P/CF) ratio stood at 19.3 times its end-of-year operating cash flow earnings.
| No. of Mths Year Ending | 12 Mar-23* | 12 Mar-24* | |
|---|---|---|---|
| Sales per share (Unadj.) | Rs | 472.7 | 525.4 |
| TTM Earnings per share | Rs | 20.6 | 28.0 |
| Diluted earnings per share | Rs | 20.6 | 28.0 |
| Price to Cash Flow | x | 15.1 | 19.3 |
| TTM P/E ratio | x | 22.6 | 36.9 |
| Price / Book Value ratio | x | 3.1 | 4.0 |
| Market Cap | Rs m | 29,598 | 45,714 |
| Dividends per share (Unadj.) | Rs | 0.0 | 0.0 |
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster
Ratio Analysis for DODLA DAIRY
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Solvency Ratios
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Current Ratio: The company’s current ratio improved and stood at 2.7x during FY24, from 2.2x during FY23. The current ratio measures the company’s ability to pay short-term and long-term obligations.
Interest Coverage Ratio: The company’s interest coverage ratio improved and stood at 85.9x during FY24, from 72.2x during FY23. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.
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Profitability Ratios
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Return on Equity (ROE): The ROE for the company improved and stood at 14.7% during FY24, from 12.6% during FY24. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.
Return on Capital Employed (ROCE): The ROCE for the company improved and stood at 21.2% during FY24, from 15.6% during FY23. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.
Return on Assets (ROA): The ROA of the company improved and stood at 11.5% during FY24, from 9.9% during FY23. The ROA measures how efficiently the company uses its assets to generate earnings.
| No. of Mths Year Ending | 12 Mar-23* | 12 Mar-24* | |
|---|---|---|---|
| Current ratio | x | 2.2 | 2.7 |
| Debtors’ Days | Days | 1 | 1 |
| Interest coverage | x | 72.2 | 85.9 |
| Debt to equity ratio | x | 0.0 | 0.0 |
| Return on assets | % | 9.9 | 11.5 |
| Return on equity | % | 12.6 | 14.7 |
| Return on capital employed | % | 15.6 | 21.2 |
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster
To see how DODLA DAIRY has performed over the last 5 years, please visit here.
DODLA DAIRY Share Price Performance
Over the last one year, DODLA DAIRY share price has moved up from Rs 525.7 to Rs 1,034.0, registering a gain of Rs 508.3 or around 96.7%.
Overall, the S&P BSE SENSEX is up 22.6% over the year.
(To know more, check out historical annual results for DODLA DAIRY and quarterly results for DODLA DAIRY)
Annual Report FAQs
What is the current share price of DODLA DAIRY?
DODLA DAIRY currently trades at Rs 1,035.0 per share. You can check out the latest share price performance of DODLA DAIRY here…
What was the revenue of DODLA DAIRY in FY24? How does it compare to earlier years?
The revenues of DODLA DAIRY stood at Rs 31,529 m in FY24, which was up 11.2% compared to Rs 28,354 m reported in FY23.
DODLA DAIRY’s revenue has grown from Rs 21,459 m in FY20 to Rs 31,529 m in FY24.
Over the past 5 years, the revenue of DODLA DAIRY has grown at a CAGR of 10.1%.
What was the net profit of DODLA DAIRY in FY24? How does it compare to earlier years?
The net profit of DODLA DAIRY stood at Rs 1,667 m in FY24, which was up 36.4% compared to Rs 1,223 m reported in FY23.
This compares to a net profit of Rs 1,328 m in FY22 and a net profit of Rs 1,260 m in FY21.
Over the past 5 years, DODLA DAIRY net profit has grown at a CAGR of 35.2%.
What does the cash flow statement of DODLA DAIRY reveal?
The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.
This statement is one of the most useful tools for judging a company’s liquidity position. The ratios and parameters in this statement helps test a company’s financial health.
The cash flow statement of DODLA DAIRY reveals:
- Cash flow from operations decreased in FY24 and stood at Rs -7 m as compared to Rs 1,608 m in FY23.
- Cash flow from investments increased in FY24 and stood at Rs 300 m as compared to Rs -2,137 m in FY23.
- Cash flow from financial activity decreased in FY24 and stood at Rs -13 m as compared to Rs 146 m in FY23.
Here’s the cash flow statement of DODLA DAIRY for the past 5 years.
| (Rs m) | FY20 | FY21 | FY22 | FY23 | FY24 |
|---|---|---|---|---|---|
| From Operations | 1,656 | 2,451 | 1,711 | 1,608 | -7 |
| From Investments | -770 | -2,001 | -1,383 | -2,137 | 300 |
| From Financial Activity | -257 | 108 | -489 | 146 | -13 |
| Net Cashflow | 636 | 555 | -143 | -348 | 283 |
What does the Key Ratio analysis of DODLA DAIRY reveal?
Be it the company’s profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.
The ratio/financial analysis of DODLA DAIRY reveals:
- Operating profit margins witnessed a fall and down at 9.3% in FY24 as against 6.8% in FY23.
- Net profit margins grew from 4.3% in FY23 to 5.3% in FY24.
- Debt to Equity ratio for FY24 stood at 0.0 as compared to 0.0 in FY23.
Here’s the ratio/financial analysis of DODLA DAIRY for the past 5 years.
| FY20 | FY21 | FY22 | FY23 | FY24 | |
|---|---|---|---|---|---|
| Operating Profit Margin (%) | 6.6 | 12.5 | 9.4 | 6.8 | 9.3 |
| Net Profit Margin (%) | 2.3 | 6.5 | 5.9 | 4.3 | 5.3 |
| Debt to Equity Ratio (x) | 0.2 | 0.1 | 0.0 | 0.0 | 0.0 |
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