DDDodla Dairy543306JV deal update

Board approves JV with Meadow India Holdings; 40% company, 60% partner

Board on 28 October 2026 approved unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026; auditors gave unmodified limited review reports.

By ScoutQuest · Wed 28 Oct 2026, 10:12 PM IST · 2 min read

Consolidated Q2 Revenue

Rs. 1,196.02 crores

Consolidated Q2 Profit vs Year Earlier

Rs. 36.59 crores vs Rs. 65.67 crores a year earlier

Proposed JV Equity Split

40% company, 60% MIHL

What the board approved

• The Board of Directors met on Wednesday, 28 October 2026 and approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026.
• The statutory auditors issued unmodified Limited Review Reports on these results.
• The Board also approved a proposal to establish a joint venture company in India in collaboration with Meadow India Holdings Limited (MIHL).

The joint venture, as described in the update

• Proposed equity participation of 40% by the company and 60% by Meadow India Holdings Limited.
• The business is marketing and selling high quality dairy ingredients to the business-to-business (B2B) market in India.
• The proposal is subject to execution of the Joint Venture Agreement, completion of necessary formalities and receipt of applicable regulatory and statutory approvals, if any.
• The prescribed disclosures are to be made upon incorporation of the proposed entity, and further material developments will be intimated to the stock exchanges.

How to read this

• This is an approval of a proposal. The entity is yet to be incorporated and the joint venture agreement is yet to be executed, so no capital outlay, revenue or timeline for the venture is part of this intimation.
• The stated business is B2B dairy ingredients, a business-to-business selling route, as distinct from the company's consumer dairy products.
• The numbers below are from the results approved at the same meeting, not from the proposed joint venture.

Consolidated results

• Revenue from operations for the quarter ended 30 September 2026 was Rs. 1,196.02 crores.
• Profit for the quarter was Rs. 36.59 crores, against Rs. 65.67 crores in the quarter ended 30 September 2025.
• Revenue from operations for the half year ended 30 September 2026 was Rs. 2,393.96 crores.

Standalone results

• Revenue from operations for the quarter was Rs. 936.06 crores.
• Profit for the quarter was Rs. 25.08 crores.

What investors may watch

• The joint venture is a proposal-level step; incorporation, the JV agreement and any regulatory approvals are the next milestones flagged in the update.
• The equity split of 40% and 60% means the company would hold a minority stake in the proposed entity, with Meadow India Holdings Limited holding the larger share.
• The quarterly results, taken together with the year-earlier figures above, are the quantitative backdrop against which investors can read the announcement.

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