Dodla Dairy Limited IPO Message Board (Page 10)

QIB 40.01x
NII 50.58x
RII 10.44x (Apps wise 1083184

QIB 31.33
NII 48.23
RII 10.30x (Apps wise 1068240 )

Withdrawn application from KIMS
Applied 2 in shyam, 1 each in Dodla and Sona

Sona may list at discount..:(

QIB should be cross 40x and NII 200X Let see ..

why stand in a Q for allotment, KIMS HOSPITAL, no crowd, reliable results, finally QIB n HNI started investing

Let see subscription after 2.50 pm .

QIB 17.91x
NII 47.41 x
RII 9.17x (Apps wise 946000)

Fully Applied

Trends looking like:

QIB: 40-50+
HNI: 150-200+

Overall its good IPO with ok-ok GMP.

Good Subscription !

apply blindly in dodla ipo.....it will give more than 20% listing gain mark my word.....!!!!enjoy

HNI Subscription May Go 125+ Times
might touch 150 times or go forward too

Itna Sannata Kyun Hai Bhai?

Jor lagake haisha

*DODLA DAIRY IPO*
*LAST DAY SUBS.FIGURE AT 12:15 P.M.*
QIB 1.29X**
NII 1.99X
RII 7.85X
*OVERALL 4.75X*
**Excluding Anchor
Total No.of RET.FORMS : 8,04,5980
*Apps Wise : 6.70X*

Sonal Ben, Atyare hal GMP su chale 6 ??
should we apply with full force ??

Now
QIB 2.91X
NII 2.31X
RII 8.21X
OVERALL 5.43X

Total No.of Applications : 8,46,995 (Approx.)
Apps Wise : 6.97X

Long term view only.

At 428, PE is 42. listed references could be Parag 65 and Modern Dairies 8 but both have extended to Whey markets, Parag launched its own whey protein brand. Milk processing is a low margin business so not surprising that Dodla has EBIT margin of 5%; expansion to value products is key and are they doing that? seems unlikely and thus PE looks too high thus.

CAGR Revenue Growth: 16%; EBIT Margin 5%; Debt/EQ ~33%

Fair value of the company may be around 370-375 as per a quick back of the envelope DCF calculation based on limited data (3 year financials available). This is as per moderately optimistic assumptions.

My take: Seems like a stable, highly local model with limited expansion opportunities and without product expansion, margins will stay low. Nothing exciting to command such a high PE and thus I will avoid.

All good points and I agree, it''s a good company. I just think IPO pricing is too aggressive. While I am not good at predicting how market behaves but I will be happy to pick up some shares at a later stage if price comes down to a reasonable range.

My key issue is with operating margin at 5% and with the current product line (no diversification announcements in RHP so far) it may not improve much in future. Hatsun has ~15% because it has diversified and has built up assets to support that (Hatsun ~2000 cr vs Dodla ~500 Cr). Maybe Dodla will also reach there someday but for now I think the pricing is too expensive.

Valuations are very reasonable if you calculate with FY21 EPS, management committed to maintain margins at the same level as FY21, so EPS will sustain.

Company is engaged in the business of one of the essentials for the life.

No scope for any reduction in demand, though demand may shift from one to another, depending on the pricing and quality of the products.

I do sincerely feel that demand would be incresing from year to year, on account of change of habits, increase in disposable income as well as increase in population.

Valuations may be on higher side now, but over a period of time same may turn out to reasonable.

Hence, I am applying along with all my famuly members.

Vegan word is joke in India. Consumption of non veg food is increasing in India and peta is talking about vegan :)

Mr. CrowI

I have no idea of people going to vegan.

However, there is typing mistake and the word "Famuly" may please be read as "family"

This ipo is good

What is the grey market price as if today?

100 - 103 rs

@ Sonal Patel
Its good to see premium above 100 Rs.
Today Market is down but GMP is still above 100 Rs.
Is it good sign for apply in full force ?

GMP Update - 102

Comparing Dodla with Hatsun gives a clear picture about the valuation gap. You can expect good gains just comparing PE ratios (pre covid times) ignoring the capital structure of Dodla which is far superior than Hatsun. The only sour fact is that Dodla operates at a lower operating margin (pre-covid levels) except the last 9 months performance. But th.e gross margins are more or less similar

I am expecting a significant upside in the short term.