IPO update - Dodla Dairy Limited by Mr. Amarjeet Maurya, Angel Broking Ltd
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Below are Quote On IPO update - Dodla Dairy Limited by Mr. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd
Outlook & Valuation: In terms of valuations, thepost-issue 9MFY21 annualised PE works out to 16.4x (at the upper end of the issue price band), which is low compared to Parag Milk Foods (trading at 32.7x). Further, DDL has shown improvement in operating margin with efficient working capital cycle. Going forward, we believe that DDL would perform better on the back of increase in value added product mix. Thus, we recommend a subscribe rating on the issue.
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