Transcript of Q1 FY27 Results Earnings Call held on Monday, 27 July 2026

An ISO 22000-2005 & 50001 EnMS Certified Company CIN: L15209TG1995PLC020324 Date: 01 August 2026 The General Manager The Manager Department of Corporate Services Listing Department BSE Limited National Stock Exchanges of India Limited Phiroze Jeejeebhoy Towers "Exchange Plaza", 5th Floor, Dalai Street, Fort Plot No.C/1, G Block Mumbai-400 001 Bandra-Kurla Complex Bandra (East), Mumbai 400051. Scrip Code : 543306 Scrip Code : DODLA Dear Sir/Madam, Sub: Transcript of Q1 FY27 Results Earnings Call held on Monday, 27 July 2026 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of Q1 FY27 Results Earnings Call held on Monday, 27 July 2026 for the quarter ended 30 June 2026. This is for your information and records. Thanking You, Yours Faithfully, For Dodla Dairy Limited Surya Prakash M Company Secretary & Compliance Officer Encl: as above Registered & Corporate Office: # 8-2-293/82/A, 270/Q, Road No 10-C, Jubilee Hills, Hyderabad – 500 033, Telangana, India. Tel: +91 40 45467777, Fax: +91 40 45467788 Website: www.dodladairy.com, Email: mail@dodladairy.com & cs@dodladairy.com, Toll Free No: 1800-103-1477 “Dodla Dairy Limited Q1 FY27 Earnings Conference Call” July 27, 2026 “E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchange on July 27, 2026, will prevail.” MANAGEMENT: MR. DODLA SUNIL REDDY – MANAGING DIRECTOR – DODLA DAIRY LIMITED MR. B.V.K. REDDY – CHIEF EXECUTIVE OFFICER – DODLA DAIRY LIMITED MR. MURALI MOHAN RAJU – CHIEF FINANCIAL OFFICER – DODLA DAIRY LIMITED Page 1 of 20 Dodla Dairy Limited July 27, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Dodla Dairy Limited Q1 FY27 Earnings Conference Call. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company, as on the date of this call. These statements do not guarantee the future performance of the company, and it may involve risks and uncertainties that are difficult to predict. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. Please note that this conference is being recorded. I now hand the conference over to Mr. Dodla Sunil Reddy, Managing Director, for his opening remarks. Thank you, and over to you, sir. Dodla Sunil Reddy: Thank you very much. Good morning to all the participants. On behalf of Dodla Dairy Limited, I extend a very warm welcome to everyone joining us on our call today. On this call, I'm joined by our CEO, Mr. B.V.K. Reddy; our CFO; Murali Mohan Raju; and SGA, our Investor Relations Advisors. I hope everyone has had an opportunity to go through the financial results and investor presentation, which has been uploaded on the stock exchanges and our company website. Q1 financial year '27 was marked by the highest-ever quarterly revenue of INR1,198 crores, a year-on-year increase of 19%, along with the record milk procurement of around 21.1 lakh liters per day, supported by the revival in the milk supply. EBITDA for the quarter stood at INR65 crores to an underlying EBITDA margin of 5.4%, and PAT stood at INR41 crores. While milk availability has improved during the quarter, procurement prices did not come down as the focus was on building up the inventory for future requirements. Our strategy is in line with the overall industry trends. These elevated procurement prices were not fully passed on to the consumer, resulting in continued near-term pressure on our profitability. With this in view, we will be able to pass on the increase in price to our consumers in the forthcoming quarters. This said, the year-on-year decline in EBITDA and PAT is largely cyclical driven by the input cost sweep, and we expect gradual recovery from Q2 onwards. Our procurement network also continued to strengthen during the quarter. Procurement in Maharashtra and Karnataka improved, and we continue to add more farmers to our network. Coming to our value-added products portfolio. We recorded our highest ever sales of INR415 crores, registering by 17.6% year-on-year growth, supported by prolonged summer season compared to the earlier onset of monsoons in Q1 FY26. We see a strong demand across our summer-oriented products such as curd, buttermilk, flavored milk, ice cream and other value- added products. Notably, the highest ever number is achieved without any support from bulk sales for SMP or butter, reflecting our continuous efforts and dedication of our team towards a VAP products mix aspiration. Page 2 of 20 Dodla Dairy Limited July 27, 2026 On a like-to-like basis, excluding the bulk sales proportion, VAP delivered a solid growth of 40.6% year-on-year. Africa business delivered another strong quarter, recording the highest ever revenues of INR154 crores, representing a solid growth of 45.6% year-on-year. EBITDA also touched a record of INR24 crores, increasing 74% year-on-year. We continue to maintain our market share of approximately 50% in the Uganda long-life milk category and yogurt. In Kenya, processing capacity continues to ramp up towards full utilization, while our current market share has remained modest at around 2% to 3%. Our Orgafeed segment continued to complement our core dairy operations during the quarter. Beyond its financial contribution, this also plays an important strategic role in strengthening our procurement ecosystem and maintaining good relations with farmers, enabling us to manage the industry-wide challenges, such as periods of low milk availability. Coming to our OSAM business, the integration continues to progress well, following the acquisition. Revenues for the quarter stood at INR91 crores, and we are gradually seeing improvement in our profitability. We continue to focus on improving operational efficiencies across sourcing and costs, while strengthening our presence in Eastern Africa with driving long- term growth in this business. Now speaking on our expansion initiatives, our Maharashtra Greenfield project is progressing, as per the plan and time lines for commercial operations remain intact. As part of our Eastern India expansion strategy, we continue to able to evaluate the optimal utilization of a Chandel plant, including the possibility of shifting flavoured milk production at this plant to effectively serve the Bihar and Jharkhand markets. Following our due diligence on land allotted by BIADA, we are revisiting our strategy for capital allocation either towards the land or towards more capacity at the Chandel facility. We aim to strengthen our presence in a more capital-effective manner. I would like to inform you that the Board of Directors has approved a primary investment of INR11.65 crores or around 2% stake in Sids Farm Private Limited. Sids Farm is a premium dairy brand with a strong multiregional direct-to-consumer and e- commerce presence. The investment aligns our core dairy business and provides exposure to the fast-growing premium and direct-to-consumer dairy segment. It also offers us an opportunity to associate with and support the growing for differentiated high-quality dairy brand. With this brief, I now hand it over to CEO of our company, Mr. B.V.K Reddy. Thank you very much. B.V.K. Reddy: Thank you, Mr. Sunil Reddy. So now I will walk through you the quarter's performance highlights of our business. Starting with our Dodla Dairy operation. During the quarter, as anticipated, the overall milk supply situation started improving, and we see some increase in our milk procurement volumes, recorded at 21.1 lakh liters per day, which is 13% year-on-year growth. It reflects the stre [Showing first 8,000 characters — download PDF for full document]