Dodla Dairy Q2 FY27: revenue up 17.4% to ₹1,196.0 crore, PAT down 44.3% as milk procurement costs squeeze margins
Q2 FY27 revenue up 17.4% to ₹1,196.0 Cr but EBITDA down 30.9% and PAT down 44.3% as procurement prices rose 15.7%.
By ScoutQuest · · 1 min read
- Q2 FY27 Revenue
- ₹1,196.0 Cr, up 17.4% YoY
- Q2 FY27 EBITDA
- ₹64.1 Cr, down 30.9% (5.4% margin)
- Q2 FY27 PAT
- ₹36.6 Cr, down 44.3%
- Period
- Q2 FY27
- Positioning
- Dodla describes itself as a net debt free dairy company with record milk procurement of 21.3 LLPD, a growing value-added portfolio and operations in South India, East India via OSAM and Africa.
📉 Q2 FY27 revenue rose 17.4% YoY to ₹1,196.0 Cr, but gross margin fell to 23.1% from 27.7% as procurement price per litre rose 15.7% to ₹43.2 against an 8.0% rise in realisation to ₹61.9. EBITDA fell 30.9% to ₹64.1 Cr (5.4% margin) and PAT fell 44.3% to ₹36.6 Cr. Packing material costs rose 41.6% YoY.
🌍 Value-added products revenue was ₹327.0 Cr (27.3% of sales), up 11.7%; Africa revenue grew 55.9% with quarterly EBITDA of Rs. 18.9 Cr, and Orgafeed revenue grew 39.9% at a 5.9% EBITDA margin. Management attributes softer VAP demand to seasonality and says the festive season shifting to Q3 should help ghee, sweets and flavoured milk.
🏭 The presentation lists a total capex plan of Rs. 670.0 Cr+ for FY26 to FY28, with Rs. 395.0 Cr+ spent as of Sept 26. The company says its Rs. 320.0 Cr Maharashtra greenfield (10 LLPD) targets commercial operations by end-FY27, and a ~Rs. 100 Cr Uganda plant (~2 LLPD) is planned by end of FY29. OSAM Dairy was acquired in Jul'26 for Rs. 247.2 Cr.
🏭 Management states its priorities are strengthening procurement and distribution, deepening the VAP portfolio, improving OSAM efficiency and executing expansion on time, backed by a net debt free balance sheet with FY26 equity of ₹1,674.1 Cr.
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Q2 FY27 results: revenue up 17.4% to Rs. 1,196.0 crore, PAT down 44.3% on milk cost pressure
28 Oct 2026
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More numbers
- Revenues, Q2FY271,196.0 (INR in Crores)
- Revenue growth YoY, Q2FY2717.4%
- EBITDA, Q2FY2764.1 (INR in Crores)
- PAT, Q2FY2736.6 (INR in Crores)
- PAT growth YoY, Q2FY27-44.3%
- Gross profit margin, Q2FY2723.1%
- Value-added products sales, Q2 FY27₹ 327.0 Cr
- Procurement price YoY change, Q2 FY2715.7%
- Africa EBITDA, Q2 FY27Rs. 18.9 Cr
- Total capex plan FY26 to FY28Rs. 670.0 Cr +
- Capex spent as on Sept 26Rs. 395.0 Cr +
- OSAM Dairy acquisition considerationRs. 247.2 Cr
- Revenues, FY264,125.2 (in ₹ Cr)
- PAT, FY26267.0 (in ₹ Cr)
- Equity, FY261,674.1 (in ₹ Cr)
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