DODLA DAIRY LIVE IPO ROUND UP | DODLA DAIRY SUBSCRIPTION | DODLA DAIRY I...

DODLA DAIRY LIVE IPO ROUND UP | DODLA DAIRY SUBSCRIPTION | DODLA DAIRY IPO | DODLA IPO 

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Video Description

Live IPO Round-up, Doodla Dairy, 

Doodla Dairy - Day 2

Video Link:

https://youtu.be/T0bCTIb-3rk

 

The initial public offering of Dodla Dairy has been subscribed 1.40 times on June 16, the first day of bidding. The offer has received bids for 1.19 crore equity shares against IPO size of 85.07 lakh equity shares.

● Retail investors part has seen a subscription of 2.73 times

● the non-institutional part has seen a subscription of 14 percent.

● The qualified institutional buyers(QIB) have seen a subscription of 2 percent.

 

TPG-backed Dodla Dairy intends to raise Rs 520.17 crore at the higher end of the price band of Rs 421-428 per equity share. The IPO comprises a fresh issue of Rs 50 crore and an offer for sale of up to 1,09,85,444 equity shares by TPG Dodla Dairy Holdings Pte Ltd and promoters.

 

On the upper price band of Rs 428 and EPS of Rs 14.57 for FY20, the P/E ratio works out to be 47.8x. Annualizing the 9M FY21 EPS, P/E ratio works out to be 15.4x, which is reasonable.

 

Comparison with peers 

If we compare Dodla Dairy with its peers like Hatsun Agro and Heritage Foods, then Heritage Foods is available at a P/E of 12.1x, which is lower than DDL. Though, Hatsun Agro is available at a P/E of 79.1x its FY21 earnings, which is significantly higher than Dodla Dairy

 

Analysts say that Dodla Dairy has a good potential for the future and is also available at a reasonable valuation compared to its peers. Most analysts have given subscribe rating t Dodla dairy.

 

Dodla Dairy has developed one of the leading brands in the dairy products industry in South India with strong consumer recognition, particularly in the states of Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.

The company has delivered consistent growth over the last three financial years both in terms of financial and operational metrics. The company has improved its debt to equity ratio (D/E) over the years. The D/E ratio of the company was 0.17, 0.35, 0.39 and 0.37 as on 9MFY21, FY20, FY19 and FY18 respectively.

Further, Dodla Dairy has also improved its receivable days from 1.23 days in FY20 to 0.66 days in 9MFY21, with its trade receivables amounting to Rs 7.20 crore and Rs 3.39 crore as on FY20 and 9MFY21 respectively.

Company Contact Information

Dodla Dairy Limited

8-2-293/82/A/270-Q, Road No. 10-C,

Jubilee Hills, Hyderabad, 500 033

Phone: +91 40 4546 7777

Email: mail@dodladairy.com

Website: http://www.dodladairy.com/

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