Packaged Foods company Dodla Dairy announced FY23 results: Operating Revenues at Rs 28,120 million in FY23 as compared to Rs 22,434 million in FY22 – registering growth of 25.3% YoY. The Company’s Domestic business grew by 23.3% YoY to Rs 25,841 million whereas, the International business surged by 55.2% YoY to Rs 2,277 million EBITDA was at Rs 1,913 million in FY23 as compared to Rs 2,107 million in FY22 Profit After Tax was at Rs 1,223 million in FY23 vis-à-vis Rs 1,328 million in FY22. The PAT margin declined by 157 bps YoY to 4.3% in FY23 (lower decline than EBITDA margin at 259 bps YoY) partially benefiting from lower finance cost and higher other income. EPS for FY23 stood at Rs 20.39 as compared to Rs 22.24 in FY22 Average milk procurement during FY23 was at 13.8 LLPD as compared to 12.5 LLPD in FY22, registering 11.1% YoY growth Average milk sales during FY23 were at 10.7 LLPD as compared to 9.3 LLPD in FY22, registering 14.5% YoY growth Curd sales during FY23 was at 324 MTPD as compared to 269 MTPD in FY22, increasing by 20.0% YoY Revenue from Value Added Products (VAP) including fat & fat-based products grew by 26.0% YoY to Rs 7,408 million in FY23 vis-à-vis Rs 5,878 million in FY22. VAP including fat & fat-based products contribution stood at 26.8% of the overall dairy revenue during FY23 as compared to 26.6% contribution of the overall dairy revenue during FY22 Commenting on the performance, Managing Director of Dodla Dairy, Dodla Sunil Reddy said, “I am happy to share that Dodla Dairy reported its highest ever revenues at Rs 28,120 million, registering a strong growth of 25.3% YoY in FY23. The company successfully navigated multiple sectoral challenges and delivered growth in both domestic and international operations with 23.3% YoY and 55.2% YoY, respectively in FY23. Dodla Dairy’s Africa business is shaping up well. We will continue to reap the benefits of our international presence in the coming years. The company’s Value-Added Products (VAP) sales surged by 26.0% YoY to Rs 7,408 million owing to the strong brand recall and wide distribution network. Dodla’s VAP sales contributed 26.8% to the overall revenues in FY23.” He also added, “The industry is likely to benefit from the much-anticipated flush season during OctoberNovember 2023. Dodla Dairy is well placed to create value for the stakeholders with its robust business model, state-of-the-art plants, diversified product portfolio, strong Balance Sheet coupled with adequate cash balance for fuelling organic or inorganic opportunities.” Result PDF