Key Metrics of Dodla Dairy
About Dodla Dairy
Sectors
Company details
- Website
- dodladairy.com
- Registered office
- 8-2-293/82/a, 270/q, Road No 10-c Jubilee Hills, Hyderabad, In-ts, 500033
Operational Areas of Dodla Dairy
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
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Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 02 Apr 2026 | ICRA | Reaffirmed | AA | A1+ | Stable | ₹350 Cr | View |
Credit strengths (ICRA, Apr 2026)
+ Established brand presence
Dodla brand is an established name in the liquid milk segment in southern India and has a diversified presence across the districts of Andhra Pradesh, Karnataka and parts of Tamil Nadu and Telangana.
+ Healthy revenue growth and increasing share of value-added products
The company’s revenue witnessed a healthy rise at a CAGR of around 18% over the past four years ending in FY202 5.
+ Strong financial profile
The company’s financial risk profile is healthy, characterised by low debt of Rs. 53.3 crore (including lease liabilities) as on December 31, 2025, and healthy coverage indicators with an interest coverage of 86.5 times (91.2 times in FY2025), NCA/TD of 566% (753% in FY2025), TOL/TNW of 0.2 times (0.2 times in FY2025), Total Debt/OPBITDA of 0.2 times (0.1 times FY2024) in 9M FY2026, supported by healthy earnings.
Credit challenges
− Intense competition with limited pricing flexibility
Commoditised nature of the products and intense competition from organised cooperatives, private dairies, and unorganised players impacts the pricing flexibility of players in the industry.
Could lead to an upgrade
ICRA may upgrade DDL’s long-term rating if the company demonstrates a substantial improvement in its scale and profitability with increased geographical diversification while increasing the share of value-added products.
Could lead to a downgrade
Pressure on the ratings may arise if any material decline in revenue or profitability, or sizeable capex or investments weaken its debt protection metrics or
Agency-reported financials (ICRA, 02 Apr 2026)
| Metric | FY2024 | FY2025 |
|---|---|---|
| Operating income | ₹3,126 Cr | ₹3,720 Cr |
| PAT | ₹167 Cr | ₹260 Cr |
| OPBDIT/OI | 9.3% | 10.3% |
| PAT/OI | 5.3% | 7.0% |
| Total outside liabilities/Tangible net worth (times) | 0.30× | 0.20× |
| Total debt/OPBDIT (times) | 0.20× | 0.10× |
| Interest coverage (times) | 101.10× | 91.20× |
| Revenue growth (YoY) | — | 19.0% |
| EBITDA (margin × income) | ₹291 Cr | ₹383 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹58.13 Cr | ₹38.32 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹2.88 Cr | ₹4.20 Cr |
Incorporated in 1995, DDL is a public limited company promoted by Mr. D. Sesha Reddy and Mr. D. Sunil Reddy. It was listed on the stock exchanges in June 2021. The company is engaged in the processing and sale of milk and milk products under the Dodla brand with a market presence predominantly in the four southern states of Andhra Pradesh, Karnataka, Tamil Nadu and Telangana. It acquired HFPPL, which sells under the brand, OSAM, in August 2025, expanding its presence to Bihar, Jharkhand and West Bengal. The company is also setting up a milk processing plant in Maharashtra, which is likely to be operational from April 2027. DDL has 18 processing and packaging units with a processing capacity of more than 26.0 lakh litres per day.
Borrowings & rated debt
Facility mix
Maturity ladder
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term Short-term – Fund-based – Cash credit | Working capital & bank lines | ₹72.5 Cr | ₹72.5 Cr | 0.0% | AA / A1+ (Stable) | Reaffirmed | ICRA |
| Long-term – Fund-based – Term loans | Term loans | — | ₹225 Cr | — | AA (Stable) | Reaffirmed | ICRA |
| Long-term – Unallocated | Working capital & bank lines | ₹128 Cr | ₹2.50 Cr | −98.0% | AA (Stable) | Reaffirmed | ICRA |
| Short-term – Fund-based – Overdraft | Working capital & bank lines | ₹50.0 Cr | ₹50.0 Cr | 0.0% | A1+ | Reaffirmed | ICRA |
Debt instruments
| ISIN | Instrument | Type | Coupon | Issued | Maturity | Amount | Rating | Status |
|---|---|---|---|---|---|---|---|---|
| — | FY | Term loans | — | — | 31 Mar 2034 | ₹225 Cr | AA | Outstanding |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 79% |
| Information on file | 44% · missing: Audited financial statements (last 18 months), Annual results history (3+ years), Debt obligations and repayment schedule, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 79% chance the next rating action is stable or better
- Current rating AA (investment grade)
- Interest coverage 91.2×
- ₹2.5 cr of rated limits not yet tied to a lender
What happened, step by step
- Apr 2026 — Project / plant of ₹280 cr
- Apr 2026 — Term debt tied up (₹225 cr)
“DDL is in the process of setting up a milk processing plant with a capacity of 10 LLPD at Dharapur, Maharashtra, at an estima ted cost of Rs. 280.0 crore , funded through term loan of Rs. 225.0 crore and the rest through internal accruals and existing cash balances.”
Rated limits by facility
Timeline
From the report
DDL is in the process of setting up a milk processing plant with a capacity of 10 LLPD at Dharapur, Maharashtra, at an estima ted cost of Rs. 280.0 crore , funded through term loan of Rs. 225.0 crore and the rest through internal accruals and existing cash balances.
From the report
It was sanctioned a term loan of Rs. 225.0 crore to fund the capex, which is yet to be drawn down.
From the report
Liquidity position: Strong DDL’s liquidity is strong with healthy cash balances and investments of Rs. 625.4 crore as on December 31, 2025, and its working capital limits of Rs. 122.5 crore remain largely unutilised.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Dodla Dairy
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Godrej Agrovet Limited |
Dairy, Ghee & Milk Products · Food & Beverages | godrejagrovet.com | — | Mumbai, Maharashtra, India |
| Dairy, Ghee & Milk Products · Food & Beverages | hap.in | — | Chennai, India | |
 Heritage Foods |
Dairy, Ghee & Milk Products · Food & Beverages | heritagefoods.in | 1992 | Hyderabad, India |
 Dodla Dairy Limited |
Dairy, Ghee & Milk Products · Manufacturing (Food stuffs) | dodladairy.com | — | Hyderabad, Telangana, India |
| Dairy, Ghee & Milk Products · Food & Beverages | paragmilkfoods.com | 1992 | Pune, India | |
| Ganga Dairy Limited | Dairy, Ghee & Milk Products · Food & Beverages | — | — | Bihar, India |
| India Dairy Products Ltd. | Dairy, Ghee & Milk Products · Food & Beverages | — | — | West Bengal, India |
| Dairy, Ghee & Milk Products · Food & Beverages | amul.com | — | India | |
| Dairy, Ghee & Milk Products · Food & Beverages | verka.coop | — | India | |
 Mother Dairy |
Outlets operated by Mother Dairy. | motherdairy.com | 1974 | Delhi, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Milk and dairy products
Filings
No filings on record yet.