{"id":177966,"date":"2026-01-27T23:25:30","date_gmt":"2026-01-28T04:25:30","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=177966"},"modified":"2026-01-27T23:25:30","modified_gmt":"2026-01-28T04:25:30","slug":"dodla-dairy-posts-revenue-growth-in-q3-fy26-as-margins-narrow-amid-higher-procurement-costs","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/dodla-dairy-posts-revenue-growth-in-q3-fy26-as-margins-narrow-amid-higher-procurement-costs\/","title":{"rendered":"Dodla Dairy posts revenue growth in Q3 FY26 as margins narrow amid higher procurement costs"},"content":{"rendered":"\n<p><strong>Dodla Dairy Ltd (BSE: 543306 \/ NSE: DODLA)<\/strong> reported higher revenue in the quarter ended December 2025, supported by volume growth in milk procurement and sales, while profitability was affected by rising procurement costs and lower contribution from high-margin products. The company reported consolidated revenue of \u20b910,250 million in Q3 FY26, up 13.7% year-on-year and 0.6% sequentially. EBITDA declined 17.3% year-on-year to \u20b9793 million, while profit after tax rose 8.1% to \u20b9687 million. EBITDA margin stood at 7.7%, compared with 10.6% a year earlier.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Business overview<\/strong><\/h2>\n\n\n\n<p>Dodla Dairy is an integrated dairy company engaged in procurement, processing and distribution of milk and value-added dairy products across India and Africa. Its product portfolio includes milk, curd, ghee, butter milk, paneer, flavoured milk, ice cream and milk-based sweets.<\/p>\n\n\n\n<p>The company operates an integrated supply chain with procurement from farmers, processing facilities and a distribution network spanning multiple states, along with operations in Kenya and Uganda.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Financial performance<\/strong><\/h2>\n\n\n\n<p>In Q3 FY26, revenue increased to \u20b910,250 million from \u20b99,012 million in Q3 FY25. EBITDA declined to \u20b9793 million from \u20b9959 million, while PAT increased to \u20b9687 million from \u20b9636 million. For the nine months ended December 2025, revenue rose 8.5% year-on-year to \u20b930,507 million, while EBITDA declined 14.3% to \u20b92,546 million and PAT increased 2.7% to \u20b91,972 million.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Operating metrics<\/strong><\/h2>\n\n\n\n<p>Milk procurement volume increased 7.5% year-on-year to 18.3 lakh litres per day (LLPD), while milk sales volume rose 19.6% to 13.9 LLPD.<\/p>\n\n\n\n<p>Value-added products (VAP) sales stood at \u20b92,581 million, representing 25% of total sales, compared with \u20b92,812 million and 32% of revenue in Q3 FY25.<\/p>\n\n\n\n<p>Realisation price per litre increased 4.9% year-on-year to \u20b957.68, while procurement price rose 11.8% to \u20b939.83.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key developments<\/strong><\/h2>\n\n\n\n<p>The company highlighted higher milk procurement prices due to supply shortages and erratic rainfall, while selling price increases were limited to maintain market share.<\/p>\n\n\n\n<p>Dodla is progressing with its Maharashtra expansion project and plans a greenfield capacity expansion in Uganda with estimated capital outlay of \u20b9500\u2013600 million over two years.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Risks and constraints<\/strong><\/h2>\n\n\n\n<p>Disclosures indicate that profitability remains sensitive to milk procurement prices, seasonal demand patterns, product mix shifts and competitive pricing in domestic and African markets.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Outlook and commentary<\/strong><\/h2>\n\n\n\n<p>Management stated that revenue growth momentum continued in Q3 FY26, while margins were affected by higher procurement costs, seasonal factors, lower bulk sales and margin pressure in Africa and Orgafeed segments.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"940\" height=\"704\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-85.png\" alt=\"\" class=\"wp-image-177967\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-85.png 940w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-85-300x225.png 300w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-85-768x575.png 768w\" sizes=\"auto, (max-width: 940px) 100vw, 940px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"940\" height=\"704\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-87.png\" alt=\"\" class=\"wp-image-177969\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-87.png 940w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-87-300x225.png 300w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-87-768x575.png 768w\" sizes=\"auto, (max-width: 940px) 100vw, 940px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Dodla Dairy Ltd (BSE: 543306 \/ NSE: DODLA) reported higher revenue in the quarter ended December 2025, supported by volume growth in milk procurement and sales, while profitability was affected by rising procurement costs and lower contribution from high-margin products. The company reported consolidated revenue of \u20b910,250 million in Q3 FY26, up 13.7% year-on-year and [&hellip;]<\/p>\n","protected":false},"author":2390,"featured_media":125269,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[392,1941,6351],"tags":[14847,14580,14844,14836,14838,14837,14841,14843,14845,14496,14840,14842,14839,14559,14846],"class_list":["post-177966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings","category-stock-analysis","category-consumer-stocks","tag-bse-543306","tag-corporate-earnings-india","tag-dairy-sector-india","tag-dodla-dairy","tag-dodla-dairy-ltd","tag-dodla-earnings","tag-dodla-q3-fy26","tag-dodla-results","tag-indian-fmcg-stocks","tag-indian-stock-market","tag-milk-processing-industry","tag-milk-procurement","tag-nse-dodla","tag-quarterly-results-india","tag-value-added-products-dairy"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":171197,"url":"https:\/\/alphastreet.com\/india\/dodla-dairy-q1-fy26-earnings-results\/","url_meta":{"origin":177966,"position":0},"title":"Dodla Dairy Q1 FY26 Earnings Results","author":"Divyansh_Kasana","date":"September 12, 2025","format":false,"excerpt":"Company Overview: Dodla Dairy Limited, incorporated in 1995, is an integrated dairy company based in Telangana. It primarily generates revenue from the sale of milk and dairy-based value-added products in the branded consumer market. The company\u2019s procurement operations span five states, and its products are available in eleven states. Dodla\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"DODLA Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DODLA.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DODLA.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DODLA.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DODLA.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DODLA.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DODLA.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":172131,"url":"https:\/\/alphastreet.com\/india\/dodla-dairy-q2-fy26-earnings-results\/","url_meta":{"origin":177966,"position":1},"title":"Dodla Dairy\u00a0Q2 FY26 Earnings Results","author":"Divyansh_Kasana","date":"November 5, 2025","format":false,"excerpt":"Dodla Dairy Ltd, an integrated dairy company based in Telangana, delivered a steady Q2 FY26 performance with modest growth in revenues and profits. Financial Highlights Revenues increased 2.1% year on year to \u20b91,019 crore from \u20b9998 crore. Total expenses rose 2.93% to \u20b9948 crore from \u20b9921 crore. Consolidated net profit\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Q2 FY26","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/DODLA.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/DODLA.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/DODLA.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/DODLA.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/DODLA.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/DODLA.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":178040,"url":"https:\/\/alphastreet.com\/india\/dodla-dairy-q3-fy26-earnings-results\/","url_meta":{"origin":177966,"position":2},"title":"Dodla Dairy Q3 FY26 Earnings Results","author":"Divyansh_Kasana","date":"January 28, 2026","format":false,"excerpt":"Executive Summary Dodla Dairy Ltd reported Q3FY26 revenues of \u20b91,025 crore, up 13.76% YoY, with consolidated net profit rising 7.81% to \u20b969 crore. Total expenses increased 17.31% YoY to \u20b9969 crore despite strong revenue momentum. Revenue & Growth Revenues grew to \u20b91,025.00 crore in Q3FY26 from \u20b9901.00 crore YoY, reflecting\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/DODLA.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/DODLA.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/DODLA.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/DODLA.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/DODLA.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/DODLA.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":146959,"url":"https:\/\/alphastreet.com\/india\/earnings-summary-of-dodla-dairy-limited-for-q4-fy23\/","url_meta":{"origin":177966,"position":3},"title":"Earnings Summary Of Dodla Dairy Limited For Q4 FY23","author":"Hardik Bhandare","date":"May 22, 2023","format":false,"excerpt":"Dodla Dairy Limited is one of the leading dairy companies in India, engaged in the procurement, processing, and distribution of milk and milk-based products. Established in 1995, the company has grown rapidly and expanded its operations across multiple states in India. Dodla Dairy operates an integrated business model that encompasses\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-16.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-16.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-16.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-16.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-16.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-16.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":149621,"url":"https:\/\/alphastreet.com\/india\/dodla-dairy-ltd-q1fy24-40-rise-in-profits\/","url_meta":{"origin":177966,"position":4},"title":"Dodla Dairy Ltd Q1FY24; 40% rise in Profits.","author":"Divyansh_Kasana","date":"July 24, 2023","format":false,"excerpt":"Dodla Dairy Limited is an integrated dairy company based in Telangana. The company derives the majority of its revenue from the sale of Milk and diary-based value added products in the branded consumer Market. Currently, its procurement is centered in 5 states and its products are available for purchase in\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-139.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-139.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-139.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-139.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-139.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-139.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":162422,"url":"https:\/\/alphastreet.com\/india\/dodla-dairy-ltd-q4fy24-104-rise-in-profits\/","url_meta":{"origin":177966,"position":5},"title":"Dodla Dairy Ltd Q4FY24; 104% rise in Profits","author":"Divyansh_Kasana","date":"June 21, 2024","format":false,"excerpt":"Incorporated in the year 1995, Dodla Dairy Limited is an integrated dairy company based in Telangana. The company derives the majority of its revenue from the sale of Milk and diary-based value added products in the branded consumer Market. Currently, its procurement is centered in 5 states and its products\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-193.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-193.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-193.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-193.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-193.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-193.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/177966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2390"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=177966"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/177966\/revisions"}],"predecessor-version":[{"id":177970,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/177966\/revisions\/177970"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125269"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=177966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=177966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=177966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}