Dodla Dairy Limited — M&A Activity 2025

Jul 11, 2025

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Date: 11 July 2025

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: Press Release

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, enclosed herewith is the Press Release as mentioned below:

“Dodla Dairy Ltd. approved acquisition of HR Food Processing Pvt Ltd. (“Osam”) for Rs. 2,710 million”

You are requested to take the above information on record.

Thanking You, Yours Faithfully, For Dodla Dairy Limited

Surya Digitally signed by Surya Prakash Prakash Mungelkar Date: 2025.07.11 Mungelkar 12:22:57 +05'30'

Surya Prakash M

Company Secretary & Compliance Officer

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Investor Release

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Dodla Dairy Ltd. approved acquisition of HR Food Processing Pvt Ltd. (“Osam”) for Rs. 2,710 million

Hyderabad, July 11[th] , 2025: Dodla Dairy Ltd. (BSE - 543306, NSE - DODLA, ISIN: INE021001019), one of India's leading integrated dairy companies, today announced that the board of directors has approved acquisition of 100% issued and paid-up share capital of HR Food Processing Private Limited (Osam) (“Target Company”) in compliance with the provisions of the Companies Act, 2013, SEBI Regulations and other applicable statutory requirements.

The transaction is proposed at an equity value of Rs. 2,710 million, subject to closing adjustments. This represents an enterprise value of Rs. 2,472 million plus net cash of Rs. 238 million in the target company. In this regard, the Company shall enter into Share Purchase Agreements (“SPAs”), and other transaction documents/ agreements with the existing promoters and shareholders of the Target Company. This is a fully cash transaction which is expected to be completed in one to two months from the date of signing the SPAs and other transaction documents / agreements, or such other period as may be extended by the parties to the SPA.

The completion of this acquisition is provisional to conditions precedent in the SPA and other transaction documents / agreements. Further, upon successful completion of the acquisition of 100% issued and paid-up share capital, the Target Company will become a Wholly Owned Subsidiary of Dodla Dairy Limited.

HR Food Processing Private Limited operates under the premium brand 'Osam' and has established a strong presence in Bihar, Jharkhand, and other eastern dairy markets of India. The company operates a vertically integrated supply chain that ensures full control and delivery of high-quality milk products to customers. . Osam has a procurement network with more than 25,000 plus dairy farmers, processes around 1.1 lakh litres of milk per day, and has 1000 collection centers and 19 chilling centers. The two operational processing plants has an installed capacity to process 1.8 LLPD of milk.

During FY25, Osam recorded revenues of Rs. 2,826 million with a 25% gross margin and 5% EBITDA margin. Milk constituted 72% of the sales, while the remaining 28% came from various VAP products, including curd, lassi, paneer, sweets, ghee and others.

Commenting on the development, Managing Director of Dodla Dairy, Mr. Dodla Sunil Reddy said,

“We are thrilled to announce the proposed acquisition of Osam, marking a significant milestone in Dodla’s journey. This strategic move underscores our commitment to becoming a Pan-India dairy company.

As a market, Eastern India is a very exciting market for the dairy industry with faster growth as compared to the national average. This market supports a large population, & milk consumption has immense headroom for growth driven by high urbanization potential and strong GDP growth.

We see tremendous synergies with Osam, which, when combined with Dodla's strong operational experience, will enable us to take this to the next level.”

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Investor Release

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About Dodla Dairy Ltd. (DODLA)

Dodla Dairy Ltd (DODLA) is one of India’s leading integrated dairy companies incorporated in 1995. The company procures, processes, and sells milk and milk products. The Company’s product portfolio consists of Milk, Butter Milk, Ghee, Curd, Paneer, Flavoured Milk, Doodh Peda, Lassi, Ice Cream and Milk Based Sweets.

The Company's procurement is centred in 5 states and products are available for purchase in 13 states and has 190 milk chilling centers/plants. The Company’s distribution and marketing operations are conducted through its 60+ sales offices, 2,900+ agents, 2,100+ milk and milk product distributors, 110 modern trades across India. Additionally, the company’s milk and dairy based Value-added Products are also available through 839 ‘Dodla Retail Parlours’ as on 31[st] March 2025 and are spread across the states of Andhra Pradesh, Telangana, Tamil Nadu and Karnataka. The Company also has international operations in Uganda and Kenya.

For more information, please visit: https://www.dodladairy.com

For further details please get in touch with:

Company:

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Dodla Dairy Limited CIN: L1509TG1995PLC020324 Surya Prakash Mungelkar Email id: investorqueries@dodladairy.com Tel No: +91 40 4546 7777

Investor Relations Advisor:

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Strategic Growth Advisors Pvt Ltd. CIN: U74140MH2010PTC204285 Shikha Puri / Dharmik Kansara Email id: shikha.puri@sgapl.net / dharmik.k@sgapl.net Tel No: +91 9819282743 / +91 7208179323

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