IPO update - Dodla Dairy Limited by Mr. Amarjeet Maurya, Angel Broking Ltd

01-01-1970 12:00 AM | Source: Angel Broking Ltd

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

Dodla Dairy Limited (DDL) was incorporated on May 15 1995 at Hyderabad. The company sell fresh milk, ghee, butter, curd, paneer, gulab jamun, doodh peda, basundhi and junnu, which are targeted at consumption at home. They sell UHT milk, flavoured milk, ice cream and beverages such as buttermilk

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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