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Dodla Dairy Limited (DODLA) Fair Value & Analysis

Consumer Defensive · IN · Market cap ₹67.1B

DD Dodla Dairy Limited DODLA · NSE
Price₹1,044
Fair Value₹711.46
Upside-31.8%
Quality53/100
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Healthy Growth
Thin margins · 6.5% net margin
Low debt · generates free cash flow
0.44% dividend yield
Mixed vs. peers (6/14)
Moderate moat 50/100
Evidence: High Range ₹396.64 – ₹940.48 Share as image

Fair value as of: Aug 2, 2026

From 26 valuation models · updated 11 days ago

Fair value updated Aug 2, 2026, revised from ₹752.39 to ₹711.46 (−5.4%) since Jun 29, 2026. Share price −6.0% over the past month.

A solid business, but screening 32% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹940.48). The favourable scenario is already priced in.
  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹396.64 to ₹940.48) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹1,463 ₹410.24 Fair Value ₹711.46 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range ₹410.24 – ₹1,463 · fair‑value band ₹396.64 – ₹940.48 · the ₹1,044 price screens above the ₹711.46 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Dodla Dairy Limited (DODLA) currently trades at ₹1,044, while our model-based Fair Value estimate is ₹711.46, implying the stock looks roughly 31.8% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Dodla Dairy Limited generated revenue of ₹41.3B at a net margin of 6.5%. Revenue grew 18.1% year over year. It earns a return on equity of 17.3%. The balance sheet holds a net cash position of ₹1.8B. Fundamentals as of Aug 2, 2026

Our scenario range runs from ₹396.64 (bear case) to ₹940.48 (bull case); at ₹1,044, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 32% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -26% fair-value upside, at -32%, DODLA screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹367.57 ₹647.20 ₹1,141 80
Residual Income ₹294.87 ₹407.06 ₹1,521 76
Rev-Margin DCF ₹377.63 ₹662.03 ₹1,047 74
All 26 models by family
DCF Models
FCF DCF ₹373.86 ₹690.43 ₹1,274 38
Owner Earnings ₹460.73 ₹858.94 ₹1,593 31
5Y Revenue Exit ₹377.63 ₹673.37 ₹1,088 39
5Y EBITDA Exit ₹463.98 ₹859.11 ₹1,374 41
5Y P/E Exit ₹592.83 ₹1,136 ₹1,787 38
10Y Revenue Exit ₹361.71 ₹647.71 ₹1,115 36
10Y EBITDA Exit ₹432.30 ₹787.20 ₹1,364 37
10Y P/E Exit ₹519.26 ₹995.33 ₹1,724 35
Earnings-Based
Graham-Dodd ₹300.95 ₹1,605 ₹2,223 54
Lynch FV ₹442.71 ₹632.45 ₹822.18 50
PEG = 1.0 ₹442.71 ₹632.45 ₹822.18 46
EPV ₹357.60 ₹411.15 ₹458.00 59
Dividend Discount
Gordon GGM ₹18.36 ₹38.18 ₹60.57 70
DDM Multi-Stage ₹18.36 ₹32.20 ₹40.07 61
Multiples
P/E Multiple ₹697.06 ₹929.42 ₹1,162 63
P/S Multiple ₹564.29 ₹752.39 ₹940.48 58
P/B Multiple ₹564.29 ₹752.39 ₹940.48 55
EV/EBIT ₹514.22 ₹673.52 ₹832.81 53
EV/EBITDA ₹534.84 ₹701.01 ₹867.18 54
EV/Revenue ₹377.41 ₹523.59 ₹669.77 43
Asset-Based
NCAV (Graham) ₹138.75 ₹185.92 ₹277.50 50
Growth DCF
Growth DCF ₹367.57 ₹647.20 ₹1,141 80
Rev-Margin DCF ₹377.63 ₹662.03 ₹1,047 74
Economic Profit
Residual Income ₹294.87 ₹407.06 ₹1,521 76
ROIC Compounder ₹397.70 ₹544.27 ₹717.92 72
Growth Earnings
Growth-Adj P/E ₹653.37 ₹933.38 ₹1,213 68

Widest divergence: Growth Earnings (₹933.38) versus Dividend Discount (₹32.20). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹41.3B
Revenue growth (YoY) +18.1%
Net margin 6.5%
Return on equity 17.3%
Free cash flow ₹1.5B FY2026
P/E ratio 25.2
More key figures
Operating margin 3.0%
EPS (TTM) ₹44.24
Dividend yield 0.4%
EPS growth (YoY) +2.6%
Net cash ₹1.8B FY2026

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 56 · Market factors (momentum, volatility) 40

Profitability 68
Margins and returns on capital today
Quality Growth 21
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 32
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 79
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Dodla Dairy Limited, together with its subsidiaries, engages in the production and sale of milk and value-added dairy products in India and internationally.

Full company description

Dodla Dairy Limited, together with its subsidiaries, engages in the production and sale of milk and value-added dairy products in India and internationally. The company offers flavoured, toned, standardized, full cream, ultrahigh temperature processed (UHT)-toned, UHT cow, and UHT-double toned milk; and milk products, such as butter milk, lassi, ghee, paneer, cheese, curd, flavored milk, yoghurt, butter, ice cream, and sweets. It also engages production and sale of cattle feed. The company was incorporated in 1995 and is based in Hyderabad, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Dodla Dairy Limited reported revenue of ₹41.3B in FY2026 versus ₹22.4B in FY2022, a compound +16.5%/yr. Reported net income was ₹2.7B in FY2026, compounding +19.1%/yr from FY2022.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹41.3B
Latest YoY
+10.9%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.6%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+16.2%
Avg. growth/yr (12Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.2%
Revenue +16.5%/yr
FY22 ₹22.4B
FY23 ₹28.1B
FY24 ₹31.3B
FY25 ₹37.2B
FY26 ₹41.3B
Net income +19.1%/yr
FY22 ₹1.3B
FY23 ₹1.2B
FY24 ₹1.7B
FY25 ₹2.6B
FY26 ₹2.7B
Character of growth · EPS growth decomposed (2015-2026) +21.6 % p.a.
Revenue per share +12.0 pp

of which total revenue +13.0 pp · buybacks/dilution −1.0 pp

EBIT margin +10.9 pp
Tax rate +1.5 pp
Residual (interest, one-offs) −2.8 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

DODLA screens 32% overvalued. Compare with Sysco Corporation →

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Cite: Fair Value Calculator (2026). "Dodla Dairy Limited Fair Value". https://www.fairvalue-calculator.com/stock/DODLA

Peer Group

Food Distribution · 77 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 53 · Below median
Fair Value upside −32% · Below median
Return on equity (TTM) 17% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 6% · Top 25%
Operating margin (TTM) 3% · Below median
Revenue growth 18% · Top 25%
Dividend yield (TTM) 0.4% · Below median
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Food Distribution median · lower = cheaper

P/E (TTM) 25.2× · Pricier than median
P/B 4.01× · Pricier than 75% of peers
P/S (TTM) 1.63× · Pricier than 75% of peers
P/FCF 0.5× · Cheaper than 75% of peers
EV/EBITDA 21.4× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 21
FUTURE 91 · sector 13
PAST 69 · sector 36
HEALTH 99 · sector 94
DIVIDEND 9 · sector 37

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Food Distribution stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
Sysco Corporation SYY $81.69 $60.58 -26%
US Foods Holding USFD $99.13 $55.10 -44%
Performance Food Group PFGC $113.17 $37.94 -66%
Jerónimo Martins, SGPS, S.A JMT €17.68 €21.59 +22%
CP Axtra Public Company CPAXT 14.90 THB 17.04 THB +14%
The Chefs' Warehouse, Inc CHEF $95.79 $37.27 -61%
Olam Group VC2 1.33 SGD 2.12 SGD +59%
United Natural Foods, Inc UNFI $50.19 $6.00 -88%
The Andersons, Inc ANDE $79.24 $47.78 -40%
Metcash Limited MTS A$2.92 A$5.33 +83%

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Frequently asked questions

Is Dodla Dairy Limited (DODLA) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of ₹711.46 versus a price of ₹1,044, about −32% (overvalued).
What is the fair value of DODLA?
Our model-based fair value for Dodla Dairy Limited is ₹711.46 (as of Aug 2, 2026), built from audited fundamentals. The current price is ₹1,044.
What is the quality score of DODLA?
Dodla Dairy Limited has a Quality Score of 53/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Dodla Dairy Limited (DODLA)?
Dodla Dairy Limited reported trailing-twelve-month revenue of about ₹41.3B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of DODLA?
The net profit margin of Dodla Dairy Limited is about 6.5%, meaning it keeps roughly 6.5% of revenue as net income. Based on the latest reported figures.
Does Dodla Dairy Limited pay a dividend?
Dodla Dairy Limited currently shows a dividend yield of about 0.44% relative to its recent price (as of Aug 2, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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