Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 80.60 | 99.95 | 97.83 | 94.43 | 73.84 | 88.76 | 91.06 | 78.30 | 81.96 | 87.48 | 92.18 | 91.27 |
| Expenses | 76.64 | 93.76 | 90.36 | 89.43 | 69.75 | 85.64 | 89.32 | 75.27 | 79.24 | 85.09 | 90.51 | 87.44 |
| Operating Profit | 3.96 | 6.19 | 7.47 | 5.00 | 4.09 | 3.12 | 1.74 | 3.03 | 2.72 | 2.39 | 1.67 | 3.83 |
| OPM % | 4.91% | 6.19% | 7.64% | 5.29% | 5.54% | 3.52% | 1.91% | 3.87% | 3.32% | 2.73% | 1.81% | 4.20% |
| Other Income | 19.34 | 0.14 | 0.33 | 0.16 | 0.36 | 56.04 | 0.20 | 0.14 | 0.46 | 0.35 | 0.35 | 0.30 |
| Interest | 1.05 | 0.76 | 0.69 | 0.54 | 0.39 | 0.45 | 0.45 | 0.24 | 0.26 | 0.31 | 0.30 | 0.29 |
| Depreciation | 0.91 | 1.04 | 0.76 | 0.76 | 0.74 | 0.79 | 0.87 | 0.84 | 0.84 | 0.80 | 0.78 | 0.79 |
| Profit before tax | 21.34 | 4.53 | 6.35 | 3.86 | 3.32 | 57.92 | 0.62 | 2.09 | 2.08 | 1.63 | 0.94 | 3.05 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -2,779.03% | 21.05% | 18.75% | 24.54% | 65.96% | 29.84% |
| Net Profit | 21.34 | 4.52 | 6.34 | 3.86 | 3.32 | 57.93 | 17.86 | 1.65 | 1.69 | 1.22 | 0.32 | 2.14 |
| EPS in Rs | 9.15 | 1.94 | 2.72 | 1.66 | 1.42 | 24.84 | 6.97 | 0.64 | 0.66 | 0.48 | 0.11 | 0.75 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 497 | 457 | 467 | 560 | 766 | 610 | 241 | 217 | 362 | 348 | 340 | 353 |
| Expenses | 499 | 461 | 480 | 549 | 757 | 600 | 231 | 201 | 340 | 334 | 330 | 342 |
| Operating Profit | -2 | -4 | -14 | 11 | 9 | 10 | 10 | 17 | 22 | 14 | 10 | 11 |
| OPM % | -0.4% | -0.8% | -2.9% | 2.0% | 1.1% | 1.7% | 4.1% | 8% | 6% | 4.0% | 2.9% | 3.0% |
| Other Income | 0 | 14 | 0 | 0 | 0 | -22 | 2 | 1 | 20 | 57 | 1 | 1 |
| Interest | 18 | 17 | 0 | 0 | 0 | 0 | 0 | 2 | 4 | 2 | 1 | 1 |
| Depreciation | 5 | 5 | 5 | 5 | 6 | 22 | 6 | 3 | 3 | 3 | 3 | 3 |
| Profit before tax | -24 | -11 | -19 | 6 | 3 | -35 | 5 | 12 | 34 | 66 | 7 | 8 |
| Tax % | -1% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -26% | 27% | |
| Net Profit | -24 | -11 | -19 | 6 | 3 | -35 | 5 | 12 | 34 | 83 | 5 | 5 |
| EPS in Rs | -10.39 | -4.89 | -7.96 | 2.60 | 1.50 | -14.89 | 2.12 | 5.21 | 14.68 | 32.38 | 1.72 | 2.00 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | -4% | -11% | 16% | 6% | ||
| Compounded Profit Growth | 8% | 19% | -26% | -78% | ||
| Stock Price CAGR | 18% | 40% | 35% | 18% | ||
| Return on Equity | % | % | % | 10% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 26 | 28 |
| Reserves | -57 | -81 | -93 | -111 | -105 | -102 | -136 | -131 | -119 | -85 | 15 | 27 |
| Borrowings | 180 | 173 | 177 | 167 | 165 | 155 | 50 | 0 | 1 | 8 | 7 | 12 |
| Other Liabilities | 53 | 59 | 46 | 38 | 53 | 53 | 138 | 170 | 180 | 144 | 69 | 65 |
| Total Liabilities | 199 | 174 | 153 | 117 | 136 | 130 | 74 | 62 | 85 | 90 | 117 | 132 |
| Fixed Assets | 82 | 79 | 79 | 77 | 76 | 74 | 34 | 30 | 29 | 30 | 31 | 29 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 1 | 1 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 |
| Other Assets | 117 | 95 | 74 | 40 | 59 | 54 | 40 | 32 | 56 | 59 | 85 | 96 |
| Total Assets | 199 | 174 | 153 | 117 | 136 | 130 | 74 | 62 | 85 | 90 | 117 | 132 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 17 | 30 | 3 | 16 | 4 | 6 | 7 | 17 | 15 | 47 | 20 | -4 |
| Cash from Investing Activity | -2 | -2 | -5 | -3 | -4 | -5 | -3 | -2 | -3 | -5 | -4 | -7 |
| Cash from Financing Activity | -16 | -22 | -3 | -11 | -0 | -2 | -3 | -9 | -19 | -41 | -10 | 14 |
| Net Cash Flow | -1 | 6 | -5 | 1 | -1 | -1 | 0 | 6 | -7 | 1 | 7 | 2 |
| Free Cash Flow | 15 | 28 | -2 | 13 | -1 | 1 | 3 | 15 | 12 | 42 | 17 | -6 |
| CFO/OP | -493% | -1,511% | -68% | -118% | 35% | 71% | 65% | 179% | 96% | 222% | 147% | -46% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 18 | 22 | 22 | 7 | 20 | 11 | 6 | 5 | 32 | 19 | 22 | 26 |
| Inventory Days | 47 | 36 | 30 | 14 | 10 | 13 | 16 | 31 | 73 | 39 | 38 | 45 |
| Days Payable | 19 | 23 | 22 | 15 | 20 | 18 | 11 | 11 | 88 | 58 | 61 | 62 |
| Cash Conversion Cycle | 46 | 35 | 30 | 6 | 10 | 6 | 11 | 25 | 16 | 0 | -1 | 9 |
| Working Capital Days | -11 | -44 | -39 | -136 | -109 | -74 | -89 | -223 | -217 | -91 | -14 | -3 |
| ROCE % | -4% | -5% | -8% | -20% | 8% | 4% | -172% | 14% |
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 45.71% | 45.71% | 45.71% | 45.71% | 45.71% | 50.59% | 50.59% | 50.59% | 50.59% | 55.46% | 55.46% | 60.33% |
| DIIs | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.03% | 0.03% | 0.03% |
| Public | 54.25% | 54.25% | 54.25% | 54.25% | 54.25% | 49.37% | 49.37% | 49.38% | 49.39% | 44.51% | 44.51% | 39.63% |
| No. of Shareholders | 17,149 | 16,691 | 17,149 | 16,973 | 16,934 | 16,967 | 16,815 | 16,859 | 16,941 | 16,838 | 16,726 | 16,726 |
Fundamentals
Market Cap₹ 157 Cr.
Current Price₹ 49.1
Stock P/E29.2
Book Value₹ 19.5
ROCE13.7 %
ROE10.2 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)6%
Compounded Profit Growth (TTM)-78%
Standalone figures.
Valuation
Market capRs 154 Cr
Enterprise valueRs 155 Cr
P/E (TTM)28.63x
Price to book2.78x
Price to sales0.44x
EV / EBITDA12.85x
EV / EBIT17.50x
EV / sales0.44x
Earnings yield3.49%
P/E, 3-year average7.58x
P/B, 3-year average1.31x
P/E, 5-year average5.99x
P/B, 5-year average0.66x
Profitability
Operating margin (excl. other income)2.89%
Operating margin (incl. other income)3.27%
EBITDA margin3.42%
Pre-tax margin2.18%
Net profit margin1.52%
Net margin, latest quarter2.34%
ROE10.20%
ROCE13.72%
ROA3.93%
ROE, 3-year average-270.00%
ROCE, 3-year average13.72%
ROA, 3-year average41.12%
ROE, 5-year average-165.28%
ROCE, 5-year average13.72%
ROA, 5-year average29.44%
ROIC (approx.)11.35%
Tax rate27.45%
Other income / net worth2.33%
Growth
Sales growth (latest year)-2.35%
Profit growth (latest year)-94.12%
Sales CAGR, 3 years16.05%
Sales CAGR, 5 years-11.04%
Profit CAGR, 3 years-26.24%
Sales growth QoQ-0.99%
Profit growth QoQ568.75%
Sales growth YoY (latest quarter)16.56%
Profit growth YoY (latest quarter)29.70%
Per share
EPS (TTM)Rs 1.88
EPS (latest year)Rs 1.71
EPS (latest quarter)Rs 0.75
EPS, 3-year averageRs 16.21
EPS, 5-year averageRs 11.19
Book value per shareRs 19.43
Sales per shareRs 123.84
Cash flow per shareRs -1.58
Free cash flow per shareRs -2.11
Efficiency
Asset turnover2.58x
Fixed asset turnover11.71x
Inventory turnover9.61x
Inventory days38 days
Debtor days26 days
Debtors turnover14.15x
Creditor days62 days
Cash conversion cycle9 days
Working capital days-3 days
Leverage
Total debtRs 12 Cr
Cash and bankRs 10 Cr
Net debtRs 1 Cr
Debt to equity0.21x
Net debt / EBITDA0.11x
Interest coverage7.64x
Owners' fund to total sources42.07%
Debt to assets8.79%
Cash flow
Cash from Operating Activity (latest year)Rs -4 Cr
Cash from Investing Activity (latest year)Rs -7 Cr
Cash from Financing Activity (latest year)Rs 14 Cr
Net Cash Flow (latest year)Rs 2 Cr
Free cash flow (latest year)Rs -6 Cr
FCFE (approx.: FCF + change in debt)Rs -2 Cr
Cash from ops / profit, 5 years0.68x
Statement figures
Net sales (TTM)Rs 353 Cr
Net sales (latest year)Rs 340 Cr
Sales (latest quarter)Rs 91 Cr
Operating profit excl. other income (latest year)Rs 10 Cr
Operating profit (latest quarter)Rs 4 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 12 Cr
PBDT (TTM)Rs 11 Cr
Profit before tax (TTM)Rs 8 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs 5 Cr
Net profit (latest year)Rs 5 Cr
Net profit (latest quarter)Rs 2 Cr
Depreciation (TTM)Rs 3 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 306 Cr
Total expenditure (latest year)Rs 330 Cr
Total income (latest year)Rs 341 Cr
Share capitalRs 28 Cr
ReservesRs 27 Cr
Shareholders' fundsRs 55 Cr
Total assetsRs 132 Cr
Net blockRs 29 Cr
Capital work in progressRs 0 Cr
InvestmentsRs 6 Cr
ReceivablesRs 24 Cr
InventoryRs 32 Cr
Other liabilitiesRs 65 Cr
Shares outstanding (crore)2.85
Ownership
Promoter holding60.33% (+9.74 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 28.6 is at the 99th percentile of its own 6.4-year range
(median 4.6, low 0.9, high 28.6).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | 519287 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +18.6% | -2.8% | +21.4 pts |
| 1 month | +44.9% | -6.8% | +51.7 pts |
| 3 months | +69.8% | -7.6% | +77.5 pts |
| 3 years | +171.0% | +14.2% | +156.8 pts |
| 5 years | +497.6% | +27.9% | +469.7 pts |
Red flags
F-score 1 of 8| explain | Debt up, profit down Borrowings up 60% while net profit fell in 2026 |
| look | Share dilution Share count up 11% in a year, 22% in three |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹91 Cr +16.6% vs Jun 2025.
Net profit ₹2 Cr +29.7%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Hatsun Agro Product Ltd | 24,496 | 67.0 | 15.2 % |
| Milky Mist Dairy Food Ltd | 24,480 | 133 | 15.4 % |
| Kwality Walls India Ltd | 9,633 | % | |
| Dodla Dairy Ltd | 6,075 | 24.6 | 16.7 % |
| Vadilal Industries Ltd | 5,232 | 23.9 | 22.0 % |
| Heritage Foods Ltd | 3,721 | 29.3 | 14.8 % |
| Parag Milk Foods Ltd | 3,373 | 25.0 | 13.4 % |
| Vadilal Enterprises Ltd | 869 | 63.6 | 24.8 % |
| Sheetal Cool Products Ltd | 684 | 33.0 | 17.0 % |
| Milkfood Ltd | 213 | 4.70 | 22.5 % |
| Virat Crane Industries Ltd | 69 | -8.08 % | |
| Dindigul Farm Product Ltd | 66 | 17.6 | 8.84 % |
| Healthy Life Agritec Ltd | 34 | 7.51 | 10.6 % |
| Tasty Dairy Specialities Ltd | 8 | -5.36 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Modern Dairies Ltd?
Modern Dairies Ltd (519287) has a market capitalisation of Rs 157 Cr. at the 2026-10-01 close.
What is the P/E ratio of Modern Dairies Ltd?
Modern Dairies Ltd trades at a P/E of 29.2 on trailing twelve-month profit, at the 2026-10-01 close.
What were Modern Dairies Ltd's latest quarterly results?
In the Jun 2026 quarter, Modern Dairies Ltd sales was Rs 91 Cr (+16.6% vs Jun 2025) and net profit was Rs 2 Cr.