Dodla Diary
IPO Size
`520.18 Cr
Price Band
`421-428 Per Share
Minimum Lot Size
35 Share
Face Value
`10 Per Share
Employee Discount
NA
Retail Allocation
35%
Issue Open Date
16 June, 21
Issue Close Date
18 June, 21
Listing Date
IPO Size
Price Band
Minimum Lot Size
Face Value
Employee Discount
Retail Allocation
Issue Open Date
Issue Close Date
Listing Date
About the Company:
Dodla Dairy Limited is a public limited company having its registered and corporate office at Hyderabad City of Telangana State in India. The company was incorporated in the year 1995 and production commenced in 1997. Currently, the procurement is centered in 5 states and our products are available for purchase in 11 states. They have 94 milk chilling centers. The distribution and marketing operations consist of distribution of the products through 40 sales offices, 3336 distribution agents, 863 milk distributors and 449 milk product distributors across nine states in India. Additionally, As of December 31st, 2020, the products of the company are also available through 371 “Dodla Retail Parlors” which commenced operations in 2016 and are spread across the states of Andhra Pradesh, Telangana, Tamil Nadu and Karnataka. The product portfolio of the company consists of Milk, Butter Milk, Ghee, Curd, Paneer, Flavoured Milk, Doodh Peda, Ice Cream and Milk Based Sweats. These products are conveniently packed to suit various needs of its consumers.
Outstanding Litigation:
| S.No. | 1 - Company | 2 - Directors | 3 - Promoters | |||
| Entity Name | By the Company | Against the Company | By the Sponser Group | Against the Sponsor Group | By the Sponser | Against the Sponser |
| Criminal cases | 4 | 4 | - | 2 | - | 2 |
| Material civil cases | 1 | 2 | - | - | - | - |
| Taxation matters | - | 10 | - | - | - | - |
| Regulatory Procedings | - | - | - | - | - | - |
| Amt. (In Million Rs.) | 15.18 | 308.39 | - | Non-Quantifiable | - | 0.39 |
Financial Statements:
| Income Statement (In Millions) | FY20 | FY19 | FY18 | |
| Gross Operating Income | 21456.49 | 16994.59 | 15970.13 | |
| Cost of Employee & Inventory | 17316.93 | 13332.5 | 12966.83 | |
| Other Expenses | 2667.54 | 2242.71 | 1810.73 | |
| EBITDA | 1472.02 | 1419.38 | 1192.57 | |
| Depreciation | 491.92 | 370.93 | 279.27 | |
| Interest | 161.39 | 115.65 | 108.9 | |
| Profit Before Tax | 818.71 | 932.8 | 804.4 | |
| Tax | 320 | 305.18 | 235.86 | |
| Profit After Tax | 498.71 | 627.62 | 568.54 | |
The promoters of the company are Dodla Sunil Reddy, Dodla Sesha Reddy, and Dodla Family trust.
The growth of an IPO is projected on the valuations of listed peers available on the exchanges. In terms of operations, the company has one listed peer; Hatsun Agro. The white products FMCG producer has delivered multi-bagger returns for its investors. On the valuations side, the company is trading at 82.7 P/E multiple having a Book value of 47.4. ROE stands at 25.6% and company has a debt of Rs. 1,306 crores.
The object of the Offer for Sale is to allow the shareholders to sell an aggregate of up to 1,09,85,514 equity Shares held by them. The company will not receive any proceeds from the Offer for Sale. Offer for Sale Size is of 10.9 million equity Shares aggregating up to ₹470.18 Cr (at an upper price band of Rs. 428).
The company has planned to raise fresh capital comprising an aggregate of 1,03,09,278 equity shares having Face Value ₹10 aggregating up to Rs. 50 Cr at the upper price band of Rs. 428. The net proceeds utilized for repayment of company debt amounting at 32.26 crores. An amount of Rs. 7.15 crores will be channelized for capital expenditure while the rest will be utilized for general corporate purpose.