DODLA

An ISO 22000-2005 & 50001 EnMS Certified Company CIN: L15209TG1995PLC020324 Date: 25 July 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: Investor Presentation for Q1 FY27 Pursuant to the Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclosed Investor Presentation on unaudited financial results of the Company for the quarter ended on 30 June 2026. The above information is also available on the website of the Company www.dodladairy.com 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 Investor Presentation Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Dodla Dairy Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. This presentation contains certain forward looking statements concerning the Company’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the Company. 2 Q1 FY27 PERFORMANCE HIGHLIGHTS EBITDA PAT REVENUE ₹ 1,197.9 Cr ₹ 64.9 Cr ₹ 40.6 Cr Highest Ever Revenue 5.4% Margin 3.4% Margin 3 Management commentary “Q1 FY27 was marked by our highest-ever quarterly revenue of INR 1,197.9 crore, along with record milk procurement of 21.1 LLPD. During the quarter, the company banked upon a strong procurement cycle to be able to build inventory for upcoming quarters while also maintaining the market share. As a result, the procurement prices remained at an elevated level despite a healthy milk supply. This strategy is in line with overall industry trends, and we expect prices to start normalising Q2 onwards. With extended summers, our VAP portfolio, including curd, buttermilk, lassi, and ice cream, delivered record sales, reaching about a third of our total sales. The company recorded EBITDA of Rs. 64.9 crore during the quarter. At the operating level, we saw improvement in our Africa, OSAM and Orgafeed businesses. However, standalone business performance was impacted primarily due to pricing pressure. Further, the Board of Directors approved a primary investment of approximately INR 11.6 crore for a 2% stake Mr. Dodla Sunil Reddy Managing Director in Sids Farm Pvt Ltd., a D2C dairy brand. We are also progressing well towards our expansion plan focused on capacity increase, expanding our geographic footprint to deepen market presence and widen distribution reach, and increasing our VAP mix to enhance margins as well as diversify the product portfolio." 4 Executive Summary for Q1 FY27 (consolidated) 1. Volume Highlights India Dairy Business Highlights   Milk procurement prices continued to rise faster than realization prices, Highest ever Milk Procurement volume of 21.1 LLPD up 13.0% YoY keeping gross margins under pressure   Milk Sales volume stood at 13.6 LLPD, an increase of 14.5% YoY Uptick in expenses impacting Profitability  Increase in employee cost pertaining to minimum wages criteria for offroll 2. Value Added Products Impact employees as per new labour laws   Total Value-Added Products sales stood at ₹ 414.7 Cr (34.6% of total sales) as against ₹ Transport, Overhead & Fuel cost: Due to product mix shift from bulk sale to 352.8 Cr (35.0% of revenue) in previous year liquid milk and VAP   Packing material costs increased by 48% during the quarter, driven by Amongst VAP products, bulk sales for SMP and butter was not present in Q1 geopolitical tensions and changes in product mix FY27 as against ₹ 57.7 in Q1FY26  VAP contribution excluding bulk sale stood at ₹ 414.7 Cr (34.6% of total sales) as against OSAM Business Highlights ₹ 295.1 Cr (29.3% of revenue) in previous year  Higher procurement prices continue to build pressure on the gross profit margins  Curd sales volume reported a solid growth of 41.4% and stood at Highest ever  Disciplined improvement in the operational efficiency in this vertical leads to better volumes of 642.6 MTPD Q1FY27 operating margins as compared to full year FY26  High margin summer products like Ice cream, buttermilk, flavoured milk, lassi, paneer etc. had a solid performance due to extended summer as against early Africa Business Highlights monsoon situation in Q1FY26  Africa business delivered strong revenue growth of 45.6% YoY, largely driven by a 3. Milk Price Impact robust milk sales growth of 52.3% YoY. Targeted efforts on gaining market share  Some improvement in milk procurement volumes due to revival of milk supply, however in Kenya with strategically pricing the products the prices were kept elevated as the company focuses on building up inventories  Achieved highest ever EBITDA number of ₹ 24.2 Cr  High procurement prices were passed on in a gradual manner to the end customer  Pricing strategy is in line with the overall industry trend and resulted in a lower Orgafeed Business Highlights  gross profit margins for the quarter Orgafeed business recorded strong revenue growth of 25.9% YoY  Milk Pirce Per Liter (₹) Q1 FY27 Q1 FY26 YoY Q4 FY26 QoQ EBITDA margin stood at 10.5% Realization price 59.4 57.2 3.9% 58.4 1.8%  Raw material price grew faster than the selling price, leading to margin Procurement price 41.3 37.4 10.4% 41.0 0.8% compression. However, it’s a recovery as compared to previous quarter. 5 Financial Highlights Consolidated (Q1 FY27) Operating Revenue Gross Profit EBITDA PAT % 25.8 23.0 23.2 % 8.2 5.0 5.4 % 6.2 6.5 3.4 Margin Margin Margin 1,197.9 1,074.5 1,006.9 7 2 278.3 Y 259.5 F 246.7 1 Q 82.5 64.9 53.8 69.8 62.9 40.6 Q1FY26 Q4FY26 Q1FY27 Q1FY26 Q4FY26 Q1FY27 Q1FY26 Q4FY26 Q1FY27 Q1FY26 Q4FY26 Q1FY27 (in ₹ Cr) (in ₹ Cr) (in ₹ Cr) (in ₹ Cr) 6 Quarter-wise Historical Operational Highlights OSAM Contribution Average Milk Procurement Average Milk Sales Curd Sales* VAP Sales* 21.1 642.6 414.7 19.5 1.4 43.3 18.7 0.718.3 0.9 18.5 1.2 13.1 13.9 14.0 13.6 351.6 35.6 11.9 0.7 1.2 1.2 1.1 452.3 442.4 296.9 24.5 262.0 23.2 360.2 346.7 243.0 17.3 14.6 14.8 16.0 19.7 599.3 18.8 379.2 17.4 17.3 12.4 12.7 12.8 12.5 417.9 273.8 345.6 330.7 228.2 244.7 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 (in LLPD) (in LLPD) (in MTPD) (in ₹ Cr) Key Insights  Milk procurement and Sale grew by 13.0% and 14.5% YoY respectively. This includes volume growth of Dodla and inclusion of OSAM business  Curd sales volume registered a robust 41.4% YoY growth during the quarter  VAP product contribution stood at 34.6% mainly includes high margin products like curd, buttermilk, flavoured milk, paneer, lassi etc.  Bulk sale for the quarter was Nil as compared to ₹ 57.7 Crores in Q1FY26 7 *A minor revision has been made to Curd sales and VAP sales numbers for FY26 pursuant to the calibration of volume-related data. Consolidated Profit & Loss Statement Common Size Particulars (INR in Crores) Q1FY27 Q1FY26 YoY Q4FY26 QoQ FY26 FY25 YoY Q1FY27 Q1FY26 Q4FY26 FY26 FY25 Revenues 1,197.9 1,006.9 19.0% 1,074.5 11.5% 4,125.2 3,720.1 10.9% 100.0% 100.0% 100.0% 100.0% 100.0% Cost of Goods Sold 919.6 747.3 827.8 3,070.4 2,699.0 76.8% 74.2% 77.0% 74.4% 72.6% Gross Profit 278.3 259.5 7.2% 246.7 12.8% 1,054.8 1,021.1 3.3% 23.2% 25.8% 23.0% 25.6% 27.4% Gross Profit margin 23.2% 25.8% 23.0% 25.6% 27.4% Employee Expenses 55.7 47.1 18.0% 51.7 7.7% 201.0 159.9 4.6% 4.7% 4.8% 4.9% 4.3% Other Expenses 157.8 129.9 141.2 545.4 480.4 13.2% 12.9% 13.1% 13.2% 12.9% EBITDA 64.9 82.5 -21.3% 53.8 20.6% 308.5 380.8 -19.0% 5.4% 8.2% 5.0% 7.5% 10.2% EBITDA margin 5.4% 8.2% 5.0% 7.5% 10.2% Depreciation & Amortization 22.8 17.8 22.0 82.3 74.6 1.9% 1.8% 2.0% 2.0% 2.0% EBIT 42.1 64.7 -35.0% 31.8 32.3% 226.1 306.2 -26.2% 3.5% 6.4% 3.0% 5.5% 8.2% Finance Cost 1.0 0.7 1.0 3.3 3.7 0.1% 0.1% 0.1% 0.1% 0.1% Other Income 13.6 16.9 -19.7% 20.2 60.4 53.3 1.1% 1.7% 1.9% 1.5% 1.4% Exceptional Items1 0.0 0.0 3.2 -2.5 0.0 0.0% 0.0% 0.3% -0.1% 0.0% Profit Before Tax 54.7 81.0 -32.4% 54.2 0.9% 280.7 355.8 -21.1% 4.6% 8.0% 5.0% 6.8% 9.6% Tax2 14.1 18.1 -15.6 13.7 95.8 1.2% 1.8% -1.4% 0.3% 2.6% PAT 40.6 62.9 -35.4% 69.8 -41.7% 267.0 259.9 2.7% 3.4% 6.2% 6.5% 6.5% 7.0% PAT margin 3.4% 6.2% 6.5% 6.5% 7.0% EPS (in INR) 6.7 10.4 11.6 44.3 43.3 1. Pertaining to the gratuity liability arising out of past service cost on account for changes in Labour laws in Q3FY26 and reversal of some part of it in Q4FY26. 8 2. Tax credit for FY 26 is Rs. 58.7 Cr: Q1 Rs. 1.9 Cr (DDL refund), Q2 Rs. 5.7 Cr (DHPL), Q3 Rs. 21.9 Cr & Q4 Rs. 29.2 Cr (Both for ITAT & CIT (A) order). Ongoing Expansion Plan Africa Business Maharashtra OSAM Dairy Total Capex Plan FY26 to FY28 Greenfield Expansion under process: Acquisition of a regional Dairy brand Greenfield Expansion Rs. 590.0 Cr +    Planed Total capex of Rs. 280.0 Cr for Acquired OSAM Dairy in Jul’26 for Acquired ~70 acres of Land in Uganda  the project. Rs. 247.2 Cr Planed Total Investment of Rs. 60.0 Cr Capex Done in FY26  Commercial operations by end-FY27  Processing Capacity: ~2.2 LLPD  Rs. 4.4 Cr investment is done FY26 Rs. 350.0 Cr +    Capacity Addition: 10 LLPD Expansion of geographical footprint in Planned Capacity addition: ~2 LLPD  East India region  Strengthen Maharashtra procurement Execution Timeline: By end of FY29 network Working towards: Work in progress in phased manner:   Integrated processing unit with initial Focused approach towards improving  Phase 1 will focus on a diversified  focus on SMP and butter processing, operational efficiency for margin Increase in aggregated dairy portfolio, including flavored followed by further expansion of VAP expansion installed capacity by ~15 yogurt, toned milk, skim milk, full portfolio and Cattle feed  7 Acre land parcen allotted by BIADA LLPD cream milk, paneer, cheese, ghee, and  Newly enter southern Maharashtra for a dairy project. The project is  packaged drinking water. Expand the geographic border to drive sales of Dodla Dairy under evaluation, and further details  Phase 2 will expand into long-life milk, footprint to deepen market products shall be updated on a later date ice cream, and milk powder presence and widen production. distribution reach  Increase in VAP mix to enhance margins and diversify the portfolio 9 Recent Key Updates Maharashtra Project on track Milk Parlour inaugurated Milk Parlour inaugurated in Patna, Bihar Process Building Product Block Refrigeration Block Milk Chilling Center 2kl RMC inaugurated at Bhandra, Boiler Section Powder Plant Raw Water Tank Jharkhand 10 NOTE: The Brand Names and Logos mentioned are the property of their respective owners and are used here for identification purposes only New Products Launch During the Quarter Ice Cream Lassi Flavor Milk 11 NOTE: The Brand Names and Logos mentioned are the property of their respective owners and are used here for identification purposes only Dodla Dairy Ltd.: At a glance INR Crores Dodla Dairy (Standalone) OSAM Africa Business Orgafeed Founded in 1995, Dodla Dairy is an During FY2025–26, Dodla Dairy Dodla Dairy has extended its footprint Orgafeed is primarily engaged in the integrated dairy company based in expanded its presence by acquiring to Africa, significantly contributing to business of seed crushers, South India OSAM (HR Food Processing), the dairy industry in Kenya and Uganda manufacturing and dealing of strengthening its entry into the high- groundnuts, gingerly, cotton and in the Comprehensive portfolio of liquid milk The company's African business model growth, under-penetrated markets of manufacturing of cattle feed and value-added dairy products, mirrors its Indian operations, involving Bihar and Jharkhand including curd, ghee, paneer, cheese, direct milk procurement, processing, Orgafeed supplies cattle feed to farmers yoghurt, flavoured milk and ice creams and distribution through Dodla's procurement network, with feed payments adjusted against milk procurement ₹ 3,421.7 ₹ 224.2 ₹ 228.4 ₹ 214.8 ₹ 4.9 ₹ -1.7 ₹ 504.2 ₹ 57.2 ₹ 42.5 ₹ 164.4 ₹ 21.6 ₹ 10.5 Revenue EBITDA PAT Revenue EBITDA PAT Revenue EBITDA PAT Revenue EBITDA PAT Financials are acquisition date onwards (Date - Aug 2025) Note: Financial as of FY26 13 Dodla Dairy (Standalone Business): Snapshot Presence Across The Dairy Value Chain  Dodla Dairy has grown into one of South India's leading integrated dairy Stage Scale companies, owning the value chain from the farmer's collection point to the consumer's table across India and East Africa Direct Procurement Rawmilkprocureddirectlyfrom ~1.4lakhfarmers across  Model 8,700+ villagesthrough7,691village-levelcollectioncentres Supported by a network of collection and chilling centres, milk is procured directly from farmers across eight states and processed into fresh liquid milk, curd, and a widening portfolio of value-added products. Transportationfromvillagesthrough905primary vehicles Chilling to240 chillingcentres Centres ProcessingPlants 14 milkprocessingplants acrossIndia(excluding OSAM, KenyaandUganda) 46 1,850+ 138 2,950+ 1,020 Distribution Sales offices distributors Modern agents Dodlaretail Centres trade parlours Operational Number as of FY26 14 22.0 LLPD 65.8 % Plants in Milk Processing Utilization Level Capacity Southern India 14 NOTE: All numbers above have been rounded-off HR Food Processing Private Limited (OSAM): Snapshot Expanded Footprint In East India Region  Stage Scale Acquired HR Food Processing Private Limited (OSAM) in August 2025 for ₹ 2,472 million. Premium dairy brand with a strong presence across Bihar, Jharkhand, and other Eastern Indian markets. Procurement Model Rawmilkprocurement of ~1.2LLPD across 101 villages and  1100 dairy farms By leveraging OSAM’s established premium brand presence and extensive distribution network, spanning 42 districts, Dodla aims to unlock significant Transportationfromvillagesthrough120 primary vehicles supply chain synergies and accelerate the penetration of its high-margin value- Chilling to20 chillingcentres Centres added product (VAP) portfolio in Eastern India.  A 7-acre land allotment by BIADA under Board consideration, offering further ProcessingPlants 2 milk 13 640+ 80 1 scope for scale and Distribution processing Sales distributors Modern Retail parlours Centre plants offices trade Operational Number as of FY26 2 2.2 LLPD Plants in Milk Processing Capacity Bihar & Jharkhand 64.0 % Utilization Level 15 NOTE: All numbers above have been rounded-off Africa Business: Snapshot Presence In Africa (Kenya & Uganda)  Stage Scale Operates in Uganda and Kenya through its subsidiary Lakeside Dairy Ltd, Dodla Dairy Kenya Ltd and Country Delight Dairy Ltd  Procurement Model Raw milk procurement of ~2.6 LLPD across 60 villages and 840 African product portfolio is marketed under the “Dairy Top”, “Dodla +” and dairy farms “Pride of Cows” brands and includes Milk, yogurt with different flavors, paneer, cheese and UHT milk Transportationfromvillagesthrough39 primary vehiclesto Chilling  13 chillingcentres The two markets, Kenya and Uganda, have different volume and margin Centres characteristics, and each is being managed in line with local consumption, ProcessingPlants 2 milk 51 380+ 81 sourcing depth, regulatory conditions and competitive intensity. and Distribution processing Sales offices distributors Retail parlours  Dairy player margins are higher due to limited competition and constrained Centre plants supply of processed milk and milk farming is also easier due to abundance of Operational Number as of FY26 grazing lands for large animal population in Africa 4.5 LLPD 2 57.1 % Milk Processing Capacity Plants in Kenya & Uganda Utilization Level 16 NOTE: All numbers above have been rounded-off Orgafeed: Snapshot Secure High-quality Milk & Improve Farmer Engagement Orgafeed is primarily engaged in the business of seed crushers, manufacturing and dealing of groundnuts, gingerly, cotton and in the manufacturing of cattle feed.  State-of-the-art manufacturing facilities at Kadapa & Kuppam, Andhra Pradesh  Has tied up with various veterinarians to provide services to farmers for their milch animals  Selling directly to our farmers through our procurement network which is adjusted against the value of the raw milk supplied to us by such farmers 2 480 MTPD 51.1 % Plants in Processing Capacity Utilization Level Southern India Integrated “Grass Backward integration via Orgafeed (cattle feed) strengthens to Glass” Model farmer retention and reduces procurement cost volatility. 17 Operational Number as of FY26 NOTE: All numbers above have been rounded-off Comprehensive Product Portfolio Pasteurized Pouch Milk Curd UHT Milk Flavored Milk Milk-Based Sweets Full cream, Standardized Sachet Curd, Bucket Curd, Toned, Double Toned Badam, Strawberry, Pista, Doodhpeda, Gulab Jamun, Sona Milk, Toned Cup Curd Chocolate Papidi, Milk Cake and Basundhi Paneer & Cheese Ghee Yoghurt Butter Milk and Sweet Ice Cream Lassi Paneer And Mozzarella Cow ghee, White ghee (buffalo ghee) & Plain, Strawberry, Vanilla, Jeera buttermilk, Sweet lassi Box, bars, cones, and Cheese Premium ghee (full boiled white ghee) Chocolate & Mango & Mango lassi cups. 18 Processing Plants: India and Africa 28.5+ 19 Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, time liness or completeness. Robust Infrastructure – Farms to Families Pan-Regional Manufacturing Presence Integrated Procurement and Processing Model Plant Capacity (Consolidated) in LLPD Number of Procurement Centres Number of Milk Chilling Units 20.0 22.3 24.1 24.3 28.7 7,837 7,602 7,879 7,895 7,691 110 118 150 190 273 2021-22 2022-23 2023-24 2024-25 2025-26 2021-22 2022-23 2023-24 2024-25 2025-26 2021-22 2022-23 2023-24 2024-25 2025-26 SalesOffices Agents Distributors RetailParlours Village-Level Chilling Centres/ QuickCommerce CollectionCentres Plants Presence Ownership 110+ 3,200+ 2,880+ 1,100 8,000+ 270 + andothers ExclusiveOutlets Operational Number as of FY26 20 .. Enabling Dodla to Deliver Competitive Advantage Milk Procurement 18.8 28.7  All dairy processors have access to the same FY26 17.6 raw material and equipment; what distinguishes us is our dedicated employees 17.1 FY25 24.3 and our strong relationship with farmers 15.8 s 16.8 t FY24 h 24.1 Sales volume g 14.6 i l h  Company has comprehensive product offering g 13.8 FY23 22.3 i H across different markets and channels 14.1 y e  Company conducts regular product outreach K 12.5 program FY22 20.0 12.2 10.8 Processing capacity FY21 20.0 10.9  Best practices to maximize capacity utilization, operating metrics and profitability Milk Procurement Processing Capacity Sales Volume Volumes in LLPD  Flexible and agile with continuous improvement mindset 21 NOTE: All Value have been rounded-off to zero decimal; figures are in lakh litre per day (LLPD). Journey So Far: 31 years of dairy operations • Investment by The Rise Fund (TGP) as it acquired stake of • IFC invested ~INR100 • Commissioned New • Acquisition of HR Black River * Cr Orgafeed Plant Food Processing Incorporation of Dodla Badvel and Sattenapally Investment by Black • Gundrampally, Hyderabad, • Listed on BSE & NSE • Commissioned Private Limited Dairy plants River* and Chendurthi, East Godavari Processing Plant in (Osam) Plants Kenya • Acquired ~70 Acres Land in Uganda 1995 2007 2012 2017 2021 2023-2024 2025-2026 1997 2009 2014 2019 2022-2023 2024-2025 Parent processing Milk powder and SMP • Acquired Lakeside Dairy, • Acquired 2 processing plants • Acquired Shri Krishna Milks • Completed the plant at Nellore plant at Nellore Uganda from KC Dairy • Countryside Dairy Kenya purchase of 61 acres • Established large scale • Incorporated Orgafeed & • Added a Kuppam Cattle Feed land parcel for Dairy dairy farm under GVC acquired a cattle feed and plant - Orga Feed Private business and 12 acres mixing plant Limited for Orgafeed business in • Rajahmundry plant Maharashtra 22 *DENOTES: Black River is the erstwhile name of the private equity fund Proterra which invested through its entity Black River Capital Partners Food Fund Holding (Singapore) Pte Ltd. Board of Directors Madhusudhana Reddy Dodla Sesha Reddy Akshay Tanna Dodla Sunil Reddy Ambavaram Chairman & Non-Executive Director Non-Executive Non-Independent Managing Director Whole-time Director He has more than 60 years of experience in Director various industrial facets like Engineering, He has been leading the Company since He has over 30 years of experience in the He is currently Partner and Head at KKR Paper, Construction and Dairy. incorporation as MD and has put up more entire gamut of HR functions. He is the state India Private Equity. Before joining KKR, Mr. than 25 years of experience in the Dairy committee member of Employers Federation Tanna spent over 13 years with TPG and was business. of Southern India (EFSI) for the state of most recently a partner in its India office Telangana and Andhra Pradesh. Vinoda Kailas Rampraveen Swaminathan Raja Rathinam Raman Tallam Puranam Independent Director Independent Director Independent Director Independent Director She holds a Bachelor’s degree in Computer He has two decades of global business He has more than 40 years of experience in With a background in commerce and Science Engineer from NIT Warangal. She leadership experience spanning the the Dairy industry. He was also a consultant extensive experience in financial services, he has over 16 years of experience in designing Automotive, Energy and Paper sectors. for the World Bank in relation to their has held leadership roles in SBI Capital and implementing largescale IT solutions for Appointed as the new Managing Director of Jeevika livelihood promotion project Markets Limited and Sundaram Asset clients in the US and Europe. Archean Chemical Industries Limited. Management Company Limited. 23 Strong Management Team 30+ Years Average Management Experience in Diversified BVK Reddy SURESH RAJANI KUMAR K V RAKESH RAMNANI Industries Chief Executive Officer Madhusudhana Reddy SUBRAMANIAN V S Head Sales & Marketing Head HR & Legal Head Procurement Head Production 6+ Years Average Employee Experience 35 Years Average Employee Age MOHANA KUMAR VCS REDDY KRISHNA PRASAD RAVI. P MURALI MOHAN RAJU R RETURI Head Quality Head Materials Head IT Head of Project 450+ Chief Financial Officer Professionals 4,000+ BVK REDDY- Chief Executive Total Head Count Officer SURYA PRAKASH M SRI HARI REDDY NARAHARI N K. BALAKRISHA Ms. Dodla Silpa Reddy Company Secretary and Head Operations of Head Operations REDDY (SMP) - Strategy and Compliance Officer Uganda & Kenya Orgafeed Pvt Ltd Chief Operating Officer, OSAM Transformation 24 Corporate Structure Dodla Dairy Limited HR Food Processing Dodla Holdings Country Delight Dairy Global Vetmed Concepts Orgafeed Private Limited Private Limited* Proprietary Limited Limited India Private Limited India India Singapore Kenya India 100% 100% 100% 100% 47.88% Ownership Ownership Ownership Ownership Ownership Dodla Dairy Kenya Limited Lakeside Dairy Limited Kenya Uganda 99% 100% Ownership Ownership 25 *The Company acquired HR Food Processing Private Limited (OSAM) with effect from 01 August 2025. Key Strengths Strong Presence Consistent Product Quality End to end integrated dairy An extensive Product Portfolio company in South India with a (Milk-Based value-added Products) growing presence across Eastern India International Presence Production Capacity Operations in 18 processing plants Uganda and Kenya Branding Feed Plant Higher B2C Sales 2 Feed plants through strong branding Strong Distribution Network 15 States engaged in our strong distribution network 27 Stringent Quality Control Procedures Well Defined Quality and Food Safety Procedures at Various Stages from Procurement to Distribution Procurement Stage  VLCCs equipped with GPRS enabled electronic milk analyzers which test for the fat and solid not fat (SNF) content of the raw milk  Tests conducted at VLCCs for color and smell for segregation of poor quality of raw milk  Quality checks documented in a quality manual to ensure raw milk meeting standards for further processing is procured Processing Stage  At chilling centers and processing plants, the raw milk undergoes adulteration tests and neutralizer tests to detect contaminants  FT-1 Milko-scanner at Hyderabad – enables conduct of 26 adulterant tests automatically  Well-defined and documented quality system, monitored at various stages Quality certified products and processing plants 28 QUALITY CERTIFIED PRODUCTS AND PROCESSING PLANTS Focused Engagement and Long-Term Relationship with Dairy Farmers Input and Veterinary Support Transparency through Digitization  Loans from regional banks and veterinarian-led training camps support  VLCCs equipped with GPRS enabled Electronic milk analyzers & Weigh cattle investment, health, nutrition, and disease prevention scales   Orgafeed supplies quality cattle feed with payments adjusted against Enables testing of quality and quantity of raw milk procured milk procurement, improving milk yield, quality, and farmer income  Raw milk is tested digitally at 100% of collection centres and plants Regular, Predictable Payments Animal Well-being   Money paid directly to farmers in their bank accounts once every Providing cattle feed, supplements and veterinary care support to improve 10 to 15 days productivity and health of livestock.  ~93% of total farmers payment covered as of Q4FY26 29 Dodla’s ESG Commitment Material Issue Rationale Our Approach Financial Implication Responsible use of resources Positive. Resource conservation through water conservation, Reduced water usage in milk drives cost savings; water energy efficiency, emissions processing from recycling adds treatment cost reduction, efficient waste 1.07 to 1.06 litres Resource Conservation: while supporting long-term disposal, and solutions to reduce, (standalone). Water, Energy, Waste sustainability. reuse, and recycle. Recycling Reducing pollution and protecting the environment Positive over the medium to long through renewable energy, with Installingsolar panels and term through cost savings and effluent treatment systems boilers across operations. environmental benefit; an initial producing gas for use in Renewable Energy capex outlay in the short term. cafeterias. Training and upskillingprepare Regular demonstrations, Positive. Employee preparedness employees to meet training, and coaching improves operational efficiency sustainability demands and focused on quality, and supports long-term contribute meaningfully to productivity, EHS, and other Learning and performance. organisational objectives. sustainability areas. Development 30 Strategic Roadmap for Sustainable Growth Strengthen procurement & chilling Deepen the value-added Build greater control across the Improve distribution reach & infrastructure portfolio value chain brand visibility Improve supply reliability by widening the direct Strengthen growth and margin profile through curd, Strengthen farmer engagement, milk quality testing Enhance the channel reach and brand visibility farmer network and adding village level chilling center. paneer, ghee and other high-margin categories. and sourcing discipline at every touchpoint. across markets, including e-commerce and modern trade. Advance Maharashtra & Uganda Enhance OSAM's operating Deliver Consistent High Quality expansion on time efficiency Products Progress on capacity expansion plans within the Tighter execution and cost discipline to make the Ensure disciplined daily operations with consistent allocated capital framework and time lines. Eastern India platform a stronger contributor. quality standards and better freshness. 32 Value-added Products (VAP) Trajectory VAP Sales (in ₹ Cr)* Strong distribution network FY26 1,053  The company already has a strong distribution network in southern states for milk as well as value added products through which it can roll out existing and upcoming products FY25 973 FY24 818 Vast VAP Portfolio FY23 696  Dodla Dairy is investing heavily in expanding its range of value-added products, a move that is FY22 525 anticipated to boost margins. The company has been proactive in identifying and responding to customer preferences. It has invested significantly in value-added products such as Curd, Ice Creams, Flavored FY21 432 Milk, Lassi, Butter Milk, Yoghurt, SMP to name a few. Factors Driving the VAP Growth Demand for value-added products is accelerating with consumer preferences for health, taste, and convenience, and the segment carries a superior margin profile and strong brand-building potential. The value-added dairy segment is growing faster than fluid milk. Flavoured and fortified milk, probiotic drinks, Greek yogurt, and high-protein formats are drawing consumers willing to pay a premium Rising disposable incomes driving demand for value added dairy products Post COVID-19 pandemic, structural changes occurred in consumer pattern a result of heightened hygiene awareness, which benefits the organized dairy industry 33 *Excluding Ghee and Butter Sales Raising the Visibility Quotient – TV and other mediums Brand Building Initiative Z  Aired television commercials (TVC) on leading regional TV channels and popular digital platforms for the first time, capturing the celebratory spirit of consumers  Penetrate deeper in the market through the go-to-market strategy resulting strong brand recall & enhanced consumer delight Kannada TVC and Channels Telugu TVC and Channels Branding Integration & Media Partnership New Advertising Avenues - Weather Reports 34 NOTE: The Brand Names and Logos mentioned are the property of their respective owners and are used here for identification purposes only Raising the Visibility Quotient – TV and other mediums TV Show Q- Com Promo Promotional Product Integration on Jio-Hotstar 35 NOTE: The Brand Names and Logos mentioned are the property of their respective owners and are used here for identification purposes only Raising the Visibility Quotient – Other mediums Events Barricades TV5- Shiva Parvati Kalyanam event at Nellore At Kodanda Rama swamy Temple, Bangalore 36 NOTE: The Brand Names and Logos mentioned are the property of their respective owners and are used here for identification purposes only Enhancing brand presence on Social Media Social Media Marketing 37 Expanding footprint across E–commerce and Modern trade 38 NOTE: The Brand Names and Logos mentioned are the property of their respective owners and are used here for identification purposes only HistoriHcails Ftoinrainccaial lFs inancials Year-wise Historical Operational Highlights Average Milk Procurement Average Milk Sales Curd Sales VAP Sales* % 25.2 26.8 28.3 35.0 29.1 Sales Contribution 18.8 13.2 400.9 1,257 16.8 17.1 11.6 349.9 370.0 1,200 10.7 10.9 323.8 13.8 9.3 12.5 269.8 862 741 588 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 (in LLPD) (in LLPD) (in MTPD) (in ₹ Cr) Key Insights  VAP Sales grew by 20% CAGR during FY2022-26 period  Within VAP, Bulk sale for the year was ₹ 86 Cr as compared to ₹ 313 Cr in FY25 DENOTES: Consolidated financials. 40 *A minor revision has been made to Curd sales and VAP sales numbers for FY26 pursuant to the calibration of volume-related data. Margin Accretive Growth Over The Years Revenue EBITDA PAT Debt to Equity ▲13% ▲10% ▲19% ▲16% CAGR (FY21-25) CAGR (FY22-26) CAGR (FY22-26) CAGR (FY22-26) % 9.4 7.5 % 5.9 6.5 4,125 Margin Margin 308 0.03 267 2,243 211 0.02 133 FY22 FY26 FY22 FY26 FY22 FY26 FY22 FY26 (in ₹ Cr) (in ₹ Cr) (in ₹ Cr) Revenue (in ₹ Cr) EBITDA (in ₹ Cr & Margin %) PAT (in ₹ Cr & Margin %) Debt to Equity Key Insights  Consistent growth has been driven by a strategic blend of organic and inorganic initiatives, supported by strong execution capabilities  As on 31st March 2026, the company continues to have a net debt free status (Net Cash position) and a healthy ROCE of 16.0% 41 Financial Highlights Contributing Average Milk Procurement Average Milk Sales Curd Sales 29% to the 6 Value Added Products Topline 18.8 LLPD 13.2 LLPD 400.9 MTPD 2 Y ₹ 1,203.8 Cr F ▲ 9.9% YoY ▲ 12.8% YoY ▲ 8.3% YoY Revenue Gross Profit EBITDA PAT % 27.5 23.9 27.0 27.4 25.6 % 9.4 6.8 9.2 10.2 7.5 % 5.9 4.3 5.3 7.0 6.5 Margin Margin Margin 4,125 3,720 1,055 1,021 3,126 2,812 843 381 2,243 671 308 617 289 211 260 267 191 167 133 122 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 (in ₹ Cr) (in ₹ Cr) (in ₹ Cr) (in ₹ Cr) 42 Consolidated Profit & Loss Statement Common Size Particulars (in ₹ Cr) FY26 FY25 FY24 FY23 FY22 FY26 FY25 FY24 FY23 FY22 Revenues 4,125.2 3,720.1 3,125.5 2,812.0 2,243.4 100.0% 100.0% 100.0% 100.0% 100.0% Cost of Goods Sold 3,070.4 2,699.0 2,282.1 2,140.9 1,626.2 74.4% 72.6% 73.0% 76.1% 72.5% Gross Profit* 1,054.8 1,021.1 843.3 671.1 617.2 25.6% 27.4% 27.0% 23.9% 27.5% Gross Profit margin 25.6% 27.4% 27.0% 23.9% 27.5% Employee Expenses 201.0 159.9 136.0 119.1 102.4 4.9% 4.3% 4.4% 4.2% 4.6% Other Expenses 545.4 480.4 418.4 360.7 304.0 13.2% 12.9% 13.4% 12.8% 13.6% EBITDA 308.5 380.8 288.8 191.3 210.7 7.5% 10.2% 9.2% 6.8% 9.4% EBITDA margin 7.5% 10.2% 9.2% 6.8% 9.4% Depreciation & Amortization 82.3 74.6 70.1 61.2 52.4 2.0% 2.0% 2.2% 2.2% 2.3% EBIT 226.1 306.2 218.8 130.1 158.4 5.5% 8.2% 7.0% 4.6% 7.1% Finance Cost 3.3 3.7 2.4 1.2 6.5 0.1% 0.1% 0.1% 0.0% 0.3% Other Income 60.4 53.3 27.4 23.0 13.7 1.5% 1.4% 0.9% 0.8% 0.6% Exceptional Items* -2.5 -0.1% 0.0% 0.0% 0.0% 0.0% Profit Before Tax 280.7 355.8 243.8 151.9 165.6 6.8% 9.6% 7.8% 5.4% 7.4% Tax 13.7 95.8 77.1 29.6 32.7 0.3% 2.6% 2.5% 1.1% 1.5% PAT 267.0 259.9 166.7 122.3 132.8 6.5% 7.0% 5.3% 4.3% 5.9% PAT margin 6.5% 7.0% 5.3% 4.3% 5.9% EPS (in INR) 44.3 43.3 28.0 20.6 22.3 43 Consolidated Balance Sheet Equity & Liabilities (in ₹ Cr) FY26 FY25 FY24 FY23 FY22 Assets (in ₹ Cr) FY26 FY25 FY24 FY23 FY22 Equity 1,674.1 1,406.0 1,138.9 972.2 843.2 Non-current Assets 1,328.6 806.3 769.3 777.5 685.4 Non-current Liabilities 108.2 75.7 76.7 63.6 57.6 Current Liabilities 314.1 249.1 262.1 215.5 187.7 Current Assets 767.9 924.4 708.4 473.9 403.1 Total Liabilities 422.4 324.7 338.8 279.2 245.3 Total Assets 2,096.4 1,730.7 1,477.7 1,251.4 1,088.4 Total Equity and Liabilities 2,096.4 1,730.7 1,477.7 1,251.4 1,088.4 Key Insights  The Company enjoys a net debt free status and is steadily expanding its capabilities and capacities which is reflected in the growth of current assets from FY22- FY26 44 Key Ratios – Full Year Cash & Cash Equivalent (in ₹ Cr) & Receivable Days / Payable Days Networth (in ₹ Cr) & ROCE (%) Debt (in ₹ Cr) & Debt / Equity ROE % /NWC Days Payable Days % 19.2 14.9 20.4 24.4 16.0 % 17.6 13.5 15.8 20.4 17.3 0.02 0.04 0.04 0.03 0.03 5 0 40 2 - 0.5 Receivable Days Payable Days Receivable Days NWC 1,674.1 Days 745.6 57.0 1,406.0 659.4 45.8 24 23 1,138.9 42.4 22 21 20 972.2 843.2 384.7 32.3 316.2 299.6 12.9 1 1 1 1 1 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 Key Insights  Healthy growth leading to high capital efficiency and low debt levels Note: Cash & Cash Equivalent = Cash balance + Bank balance + Current Investments + Non-Current Investment. (The company is including Non-current investments as they are liquid in nature) ROCE = EBIT / Total Capiral Employed. (EBIT = PBT + Finance Cost) & (Total Capital Employed = Total Equity + Total Debt (Including Lease) + Deffered tax) 45 ROE = PAT / Average Total Equity) Capital Market Information (% of Total Key Investors as on 30th June 2026 Equity) SBI Mutual Funds 8.54 HDFC Small Cap Fund 7.77 33,500 DSP Small Cap Fund 6.60 + Bharat Biotech International Ltd 3.36 B V K Reddy 1.63 Total Shareholders Steinberg India Emerging Opportunities Fund 1.33 Shareholding Pattern as on 30th June 2026 11% Non Institutional 24% Mutual Funds 59% Flls. & Foreign Companies Promoter 6% 46 Glossary LLPD Lakhs Liter per day LPA Liters Per Annum MTPD Metric Tonnage Per Day MT Metric Ton UHT Ultrahigh Temperature Processed Milk Value- added Product VAP milk VLCC Village Level Collection Centers FII Foreign Institutional Investor DRP Dodla Retail Parlours 47 For More Details Contact us: Company: Investor Relations Advisor: Dodla Dairy Limited Strategic Growth Advisors Pvt Ltd. CIN: L1509TG1995PLC020324 CIN: U74140MH2010PTC204285 Surya Prakash Mungelkar Shikha Puri / Dharmik Kansara Email id: investorqueries@dodladairy.com Email id: dharmik.k@sgapl.net / shikha.puri@sgapl.net Tel No: +91 40 4546 7777 Tel No: +91 7208179323 / +91 9819282743