Dodla Dairy Q2 FY27 Results: Key Metrics Before Oct 28

Dodla Dairy Limited is scheduled to consider its unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, at a board meeting on October 28, 2026. The dairy company will also consider the statutory auditor's limited review reports. Its Q2 and H1 FY27 earnings call is scheduled for October 29 at 9:00 AM IST. The upcoming disclosure follows a first quarter in which revenue increased but profitability declined because milk procurement costs rose faster than realisations. Investors will therefore focus on sales growth, margins, procurement trends and management's guidance for the rest of FY27.

Board meeting covers Q2 and H1 results

The October 28 meeting relates to the July-September 2026 quarter and the first half of FY27. Dodla Dairy has stated that the board will consider both standalone and consolidated results. The reported figures will offer the first official view of how the company performed during the September quarter. No revenue or profit estimate for Q2 FY27 is provided in the available information. The subsequent earnings call is expected to cover the quarter and half year ended September 30, 2026.

Q1 FY27 revenue rose on a consolidated basis

Dodla Dairy reported consolidated net sales of ₹1,197.94 crore for the June 2026 quarter, an increase of 18.98% year on year. Standalone net sales for the same period were ₹955.66 crore, up 6.1% year on year. Another reported quarterly summary placed consolidated revenue at about ₹1,198 crore. The difference between standalone and consolidated sales reflects the importance of assessing the two result sets separately. Q1 FY27 consolidated revenue also increased from ₹1,098 crore in the March 2026 quarter.

Procurement and milk sales volumes expanded

Milk procurement volume during Q1 FY27 was 21.1 lakh litres per day, up 13.0% year on year. Milk sales volume was 13.6 lakh litres per day, up 14.5% year on year. These figures indicate that Dodla Dairy expanded both its milk sourcing and sales volumes during the quarter. Volume growth is a key operational measure for dairy businesses because it affects plant utilisation, procurement networks and distribution scale. The Q2 release may provide updated volume data and indicate whether this momentum continued through September.

Higher procurement prices weighed on margins

The company said milk procurement prices continued to rise faster than realisation prices in the June quarter. This kept gross margins under pressure despite higher revenue and volumes. EBITDA fell 21.3% year on year to ₹64.9 crore, while the EBITDA margin contracted by 280 basis points to 5.4%. Profit before tax declined 32.4% to ₹54.7 crore from ₹81 crore in Q1 FY26. Consolidated net profit was reported at about ₹40.6 crore, down 35.5% year on year.

September quarter comparison base

For Q2 FY26, Dodla Dairy reported revenue of ₹1,019 crore and net profit of ₹66 crore. Those figures form the reported year-ago comparison base for the upcoming September 2026 results. The September quarter is also important because it will show whether the Q1 gap between sales growth and profit growth has narrowed or persisted. Any movement in procurement costs and selling realisations will be relevant to the margin outcome. The available information does not include a Q2 FY27 forecast, so the October 28 release will be the primary source for the period's financial performance.

FY26 performance provides a wider context

For the year ended March 2026, Dodla Dairy's sales rose 10.89% to ₹4,125.20 crore from ₹3,720.07 crore in FY25. Net profit increased 2.72% to ₹267 crore from ₹259.93 crore. The difference between sales and profit growth during FY26, followed by the Q1 FY27 margin decline, highlights the sensitivity of earnings to raw milk pricing. The board has recommended a final dividend of ₹5 per equity share for FY26, subject to shareholder approval at the annual general meeting. The dividend equals 50% of the ₹10 face value per share.

Sids Farm stake acquisition completed

Dodla Dairy completed the acquisition of a 2% equity stake in Sids Farm Private Limited on September 30, 2026. It was allotted 27,708 equity shares for a cash consideration of ₹11.64 crore, with another disclosure placing the final consideration at about ₹11.65 crore. The board had approved the proposed investment in July 2026. This was a minority investment, rather than a full acquisition. The company may provide further context on the investment during its earnings call.

Earlier HR Food Processing acquisition

Dodla Dairy completed the acquisition of HR Food Processing Private Limited on July 31, 2025. The transaction was agreed for cash consideration of ₹271 crore and included common equity and convertible preference equity. The acquisition is part of the company's recent corporate activity alongside the Sids Farm minority investment. Consolidated financial reporting is relevant when evaluating the contribution of group businesses and acquired operations. The October results will provide the latest consolidated financial update after these transactions.

Guidance and areas to monitor

Dodla Dairy has indicated fiscal 2027 revenue growth guidance in the low to mid-teens. It has also reaffirmed targets of 10% volume growth in India and 15% overall revenue growth. The company has outlined a plan for 5-6% growth in standalone India operations and to scale OSAM operations from 1.2 lakh litres per day to 2 lakh litres per day by FY27. These are company targets, not reported financial outcomes. The Q2 release and October 29 call may clarify the progress made against these objectives.

What the results mean for investors

The Q2 announcement matters because Q1 demonstrated that higher milk volumes and revenue do not automatically translate into stronger earnings when input costs outpace realisations. Investors will be able to compare reported Q2 sales and profit with the Q2 FY26 base of ₹1,019 crore in revenue and ₹66 crore in net profit. Margin performance, milk procurement costs, selling prices and volume growth will remain central data points. Updates on Sids Farm, OSAM expansion and other acquired operations may also help explain the consolidated performance. Dodla Dairy's board meeting on October 28 and earnings call on October 29 are the next confirmed events for these disclosures.