Dodla Dairy Announced Acquisition of Sri Krishna Milks for Rs 50 crore

March 21, 2022

On March 19, Dodla Dairy Ltd, a listed dairy company based in Hyderabad, announced the acquisition of Sri Krishna Milks Private Ltd, a company based in Karnataka, for Rs 50 crore. According to a stock exchange announcement, Sri Krishna Milks was founded in March 1989 and was the first private sector dairy company in the state of Karnataka.

The acquisition was made with the goal of expanding the company’s business, according to Dodla Dairy, who also stated that the purchase would not be considered a related party transaction.

Dodla Dairy said in a statement to the stock exchanges that it had signed a business transfer agreement with Sri Krishna Milks for the purchase of the company as a going concern on a slump purchase basis. The payment would be in the form of money.

Dodla Dairy reported that Sri Krishna Milks, which is primarily involved in milk procurement, manufacturing, and selling dairy products, had a turnover of Rs 67.27 crore in FY 2020-21, down from Rs 76.27 crore in 2019-20 and Rs 90.20 crore in 2018-19.

  • Access to full website Database is only for our premium members.