1. India Stocks

  2. •

    Consumer non-durables

  3. •

    Food: meat/fish/dairy
Modern Dairies Limited

Modern Dairies Limited

BBSE:MODAIRY
42.94
INR
-2.26
(-5.00%)
1.91EPS
16.32P/E
902.90MMarket Cap
Modern Dairies Limited
BSE:MODAIRY
(Bombay Stock Exchange)

Recent

price

42.94

P/E

ratio

16.32

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
INR
200.47
211.54
250.93
273.72
268.16
213.08
196.12
200.18
240.32
328.31
260.93
103.14
92.66
154.37
148.24
130.95
127.93
Revenue per Share
-17.61
-7.8
-0.44
4.05
-9.54
-10.39
-4.89
-7.96
2.6
1.5
-14.89
2.12
5.21
14.68
35.46
1.89
1.95
Basic EPS, GAAP
-0.91
0.29
-4.56
-3.55
6.24
12
-1
5.42
-0.41
0.51
1.36
6.36
5.17
9.95
7.05
-2.19
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
-0.87
-8.46
-8.9
-4.85
-14.45
-24.89
-29.77
-37.72
-35.11
-33.59
-48.5
-46.33
-41.13
-26.47
15.75
19.48
- -
Book Value per Share
-0.94
-8.51
-8.93
-4.85
-14.45
-24.89
-29.78
-37.76
-35.15
-33.62
-48.52
-46.34
-41.14
-26.47
15.75
19.48
- -
Tangible Book Value per Share
23
23
23
23
23
23
23
23
23
23
23
23
23
23
23
26
28
Basic Weighted Avg Shares
4,675
4,933
5,852
6,383
6,253
4,969
4,573
4,668
5,604
7,656
6,085
2,405
2,161
3,600
3,468
3,388
3,529
Sales/Revenue/Turnover
-3.12
-0.82
3.43
1.89
-1.32
-1.38
-1.93
-3.41
1.42
0.42
-2.01
1.92
6.22
5.1
3.17
1.97
2.1
Operating Margin (%)
72
70
66
70
48
49
51
51
53
55
452
64
34
34
32
33
32
Depreciation Expense
-411
-182
-10
94
-223
-242
-114
-186
61
35
-347
50
122
342
830
49
54
Net Income, GAAP
- -
- -
203.17
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
27.48
30.16
Effective Tax Rate (%)
-8.79
-3.69
-0.18
1.48
-3.56
-4.88
-2.49
-3.98
1.08
0.46
-5.71
2.06
5.63
9.51
23.92
1.44
1.52
Profit Margin (%)
-295
-57
60
149
-192
-598
-481
-1,717
-1,652
-1,551
-1,476
-1,401
-1,288
-888
-51
72
- -
Working Capital
708
1,064
1,156
1,093
971
848
1,080
10
3
- -
- -
- -
- -
79
73
72
- -
LT Debt
-20
-197
-208
-113
-337
-580
-694
-880
-819
-783
-1,131
-1,080
-959
-617
404
554
- -
Total Equity
- -
- -
-0.84
- -
- -
- -
- -
- -
7.47
- -
- -
10.83
41.52
193.78
- -
8.46
- -
Return on Invested Capital (%)
- -
- -
-0.84
- -
- -
- -
- -
- -
7.73
147.89
- -
11.53
44.88
194.86
- -
9.94
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
10.21
- -
Return on Common Equity (%)

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
44
- -
LT Borrowings
- -
72
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
26
28
28
Market Capitalization
946
928
903

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
748
- -
Cash, Cash Equivalents & STI
- -
103
- -
Accounts Receivable, Net
- -
240
- -
Inventories
- -
319
- -
Total Current Liabilities
- -
676
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
44
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-10.01%
-35.91%
37.18%
Free Cash Flow
-63.5%
55.76%
-134.33%
Net Income, GAAP
-99.99%
52.21%
-94.11%
Sales/Revenue/Turnover
2.02%
-2%
-2.3%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
944
738
888
911
3,468
2026
783
820
875
922
3,388
2027
913
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
1.65
1.42
24.84
6.87
35.46
2026
0.64
0.64
0.47
0.11
1.89
2027
0.75
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
2027
- -
- -
- -
- -
- -
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Business
Modern Dairies Limited manufactures and sells a wide range of dairy products primarily in India, including liquid milk in pouches, skimmed milk powder, whole milk powder, dairy whitener, pure ghee, butter, mozzarella cheese, cheddar cheese, cottage cheese (paneer), casein, whey protein concentrate (WPC), lactose, and nutraceuticals; the company also offers flavored milk, lassi, and nutritional ingredients for domestic and international institutional buyers such as pizza chains and food processors. Founded in 1992 and headquartered in Karnal, Haryana, the ISO 9001-, ISO 22000-, ISO 14001-, and HACCP-certified firm operates from a strategically located facility on National Highway No. 1 in the milk-rich belt, with a processing capacity that supports strategic tie-ups for off-take including with Mother Dairy for liquid milk and partnerships with Britannia Industries for pasteurized milk, butter, and ghee, as well as Nestle for table butter. In recent developments, lenders including Punjab National Bank released the pledge on promoter shares totaling 10,654,779 equity shares on January 13, 2025, following financial restructuring; the company reported Q2 FY2026 results on November 9, 2025, with total income up 11.1% year-over-year to Rs. 8,241.70 lacs despite a 49.5% decline in net profit to Rs. 169.23 lacs amid ongoing litigation over milk cess liability to the Haryana government and margin pressures from operational costs.