Amul Dairy

Anand, India Founded: 1946 • Age: 80 yrs Listed
Cooperative organization for milk production, animal health, and dairy services in India.

About Amul Dairy

Amul Dairy is a publicly listed company based in Anand (India) founded in 1946. Cooperative organization for milk production, animal health, and dairy services in India. It operates on a B2B and Cooperative model. The company has 571 employees. Its website amuldairy.com draws about 24 thousand monthly visits. Its Indian entity Care Ratings Limited reported revenue of β‚Ή528 Cr. Amul Dairy offers products and services including Dairy Products, Veterinary Services, and Training Programs. Its focus areas include Food and Agriculture Tech, Animal Health, Veterinary Services and Dairy. Its competitors include Sid's Farm, Desi Farms and Milk Mantra; 3 of its 3 listed competitors have raised funding.

Company details

Amul Dairy, headquartered in Anand, Gujarat, India, is a cooperative union that unites small milk producers for large-scale dairy operations. It provides services like animal health care, nutrition training, and quality milk production, while promoting rural development through initiatives such as scholarships and sanitation campaigns. The organization benefits farmers by enabling economic access to markets and supports Indias milk production leadership.

Key Metrics
  • Market Cap
    ₹4,780 Cr

    CARERATING · NSE

  • Share Price
    ₹1,580.00

    -0.40% today

  • Revenue
    ₹473 Cr

    FY 2025-26 · +17.6% YoY

  • EBITDA
    ₹197 Cr

    Margin 41.7%

  • Net Profit
    ₹171 Cr

    FY 2025-26 · +24.7% YoY

  • P/E (TTM)
    26.9x

    P/B 5.1x

  • ROE
    20.0%

    ROCE 26.1%

  • Debt / Equity
    0.03

    Interest cover 1.4x

  • Employee Count
    571

Products & Services of Amul Dairy

Amul Dairy offers a comprehensive portfolio of products and services, including Dairy Products, Veterinary Services, and Training Programs.

Dairy Products
Food Products

Milk-based items for consumption and distribution.

Veterinary Services
Animal Health

Support for animal nutrition and health care programs.

Training Programs
Education Services

Development initiatives for dairy farming skills.

Board of directors of Care Ratings Limited (Amul Dairy)

Care Ratings Limited is the primary company behind Amul Dairy. The board of Care Ratings Limited currently have 8 directors; the longest-serving is Venkatadri Chandrasekaran, appointed in 2017. 32 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Venkatadri Chandrasekaran
DIN 03126243
Director15 Nov 20178 yrs 11 moCare Ratings Limited
Mehul Harshadray Pandya
DIN 07610232
Managing Director29 Jul 20224 yrs 2 moCare Ratings Limited
Gurumoorthy Mahalingam
DIN 09660723
Director21 Nov 20223 yrs 11 moCare Ratings Limited
Sobhag Jain
DIN 08770020
Director28 Jan 20233 yrs 8 moCare Ratings Limited
Manoj Chugh
DIN 02640995
Director09 May 20242 yrs 5 moCare Ratings Limited
Rajiv Bansal
DIN 00245460
Director30 May 20251 yr 4 moCare Ratings Limited
Indrani Banerjee
DIN 09043941
Director30 May 20251 yr 4 moCare Ratings Limited
Bimalkumar Natvarlal Patel
DIN 03006605
Additional Director12 Nov 202511 moCare Ratings Limited

IPO & Listings of Amul Dairy

Amul Dairy is a publicly listed company on the NSE with ticker symbol CARERATING in India, operating in the Credit Rating Agencies sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • Listed onNSE: CARERATING
  • Listed entityCare Ratings Limited
  • Exchange sectorCredit Rating Agencies

Financials of Amul Dairy

Exchange-reported figures of Care Ratings Limited, the listed company behind Amul Dairy (NSE: CARERATING).

Financial Highlights

FY 2025-26 Β· Consolidated
Revenue
₹473 Cr
+17.6% YoY
EBITDA
₹197 Cr
+27.1% YoY
Profit After Tax
₹171 Cr
+24.7% YoY
Net Worth
₹932 Cr
+15.6% YoY
Total Assets
₹985 Cr
+15.0% YoY
Total Debt
₹26.18 Cr
+10.1% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue473402332279248248244
Revenue growth+17.6%+21.3%+18.9%+12.7%-0.3%+2.0%-
EBITDA19715511299.3479.6095.7781.32
EBITDA margin+41.7%+38.6%+33.8%+35.6%+32.1%+38.6%+33.4%
Profit before tax23519214712698.62119104
Net profit17113710183.5375.1089.5182.37
Net profit margin+36.2%+34.1%+30.3%+29.9%+30.3%+36.0%+33.8%
EPS (β‚Ή)56.9745.8533.6728.1225.3330.3827.96
Balance sheet
Total assets985857760709673611553
Net worth932806717672648589533
Total debt26.1823.7719.5517.488.917.230.00
Cash & bank12997.0058.3856.4582.16290115
Net working capital543598598546516291124
Cash flow
Cash from operations14812390.8882.2468.0086.1767.40
Cash from investing(94.45)(58.43)(39.07)12.88(27.32)(37.72)26.73
Cash from financing(59.33)(54.00)(62.96)(63.33)(35.14)(43.36)(107)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue11213111213693.9111096.38117
Revenue growth (YoY)+18.9%+19.2%+16.3%+16.2%+19.0%---
Other income14.8015.7112.9912.5813.7015.1711.8511.86
EBITDA34.6360.7540.3468.4127.7447.3730.4355.72
EBITDA margin+31.0%+46.5%+36.0%+50.2%+29.5%+43.2%+31.6%+47.5%
Depreciation3.863.833.693.463.403.063.002.85
Interest0.600.630.650.610.600.600.560.49
Profit before tax44.9772.0048.9976.9237.4458.8838.7264.24
Tax11.9818.5612.4619.7010.9415.5210.3517.36
Net profit32.9953.4436.5357.2226.5043.3628.3746.88
EPS (β‚Ή)10.7017.5111.9118.818.5614.179.3015.36
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue388337283249219220219
Revenue growth+15.2%+18.9%+13.8%+13.5%-0.2%+0.3%-
EBITDA18715512411086.0088.2776.54
EBITDA margin+48.3%+46.1%+43.8%+44.1%+39.2%+40.2%+34.9%
Profit before tax232197162138107113100
Net profit17414811910484.4685.8380.48
Net profit margin+45.0%+44.0%+42.2%+41.7%+38.5%+39.1%+36.7%
EPS (β‚Ή)58.0449.4440.0134.9528.4929.1327.32
Balance sheet
Total assets1,013886787718665600546
Net worth984858759695650583532
Total debt15.5715.7116.6913.654.226.490.00
Cash & bank67.8226.5630.5042.7671.27269101
Net working capital473526555515490259103
Cash flow
Cash from operations14212110794.5163.5482.4765.69
Cash from investing(98.31)(71.91)(59.61)(2.22)(22.87)(37.80)25.93
Cash from financing(53.07)(52.93)(59.96)(61.74)(34.59)(42.71)(106)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue88.1510890.2411475.6491.2478.59102
Revenue growth (YoY)+16.5%+17.9%+14.8%+12.6%+15.8%---
Other income15.6315.3913.1612.5414.7415.5111.4311.76
Total expenses56.0649.6853.0049.3048.5045.4948.2944.60
EBITDA32.0957.9037.2464.9727.1445.7530.3056.91
EBITDA margin+36.4%+53.8%+41.3%+56.9%+35.9%+50.1%+38.6%+56.1%
Depreciation2.332.332.302.302.091.952.011.98
Interest0.370.380.390.400.410.380.390.40
Profit before tax45.0270.5847.7174.8139.3858.9339.3366.29
Tax11.1517.2011.6518.9810.2614.049.8616.66

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 26 Oct 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue11213111213693.9111096.38117
Revenue growth (YoY)+18.9%+19.2%+16.3%+16.2%+19.0%---
Other income14.8015.7112.9912.5813.7015.1711.8511.86
EBITDA34.6360.7540.3468.4127.7447.3730.4355.72
EBITDA margin+31.0%+46.5%+36.0%+50.2%+29.5%+43.2%+31.6%+47.5%
Depreciation3.863.833.693.463.403.063.002.85
Interest0.600.630.650.610.600.600.560.49
Profit before tax44.9772.0048.9976.9237.4458.8838.7264.24
Tax11.9818.5612.4619.7010.9415.5210.3517.36
Net profit32.9953.4436.5357.2226.5043.3628.3746.88
EPS (β‚Ή)10.7017.5111.9118.818.5614.179.3015.36
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue473402332279248248244
Revenue growth+17.6%+21.3%+18.9%+12.7%-0.3%+2.0%-
Other income54.8150.7546.6937.9427.1931.2931.47
Total expenses276247220180168153162
Employee cost215189165134126120109
EBITDA19715511299.3479.6095.7781.32
EBITDA margin+41.7%+38.6%+33.8%+35.6%+32.1%+38.6%+33.4%
Depreciation14.3711.7210.4810.537.717.807.77
Interest2.492.111.711.000.460.620.93
Profit before tax23519214712698.62119104
Tax61.6652.2644.0740.2921.8027.6820.61
Net profit17113710183.5375.1089.5182.37
Net profit margin+36.2%+34.1%+30.3%+29.9%+30.3%+36.0%+33.8%
EPS (β‚Ή)56.9745.8533.6728.1225.3330.3827.96
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital30.0529.9329.8529.7029.6529.4629.46
Reserves & surplus902776687643618559480
Shareholders' funds (net worth)932806717672648589533
Minority interest10.689.237.466.835.314.223.25
Secured loans0.000.000.000.000.000.000.00
Unsecured loans26.1823.7719.5517.488.917.230.00
Total debt26.1823.7719.5517.488.917.230.00
Total liabilities985857760709673611553
Assets
Gross block163157140132115102106
Net block12211910910795.6285.0793.11
Capital work in progress5.322.925.994.238.193.150.52
Investments86.8813443.8243.9144.00240339
Inventories0.000.000.000.000.000.000.00
Sundry debtors35.0432.0922.4921.5116.6421.3640.89
Cash & bank balances12997.0058.3856.4582.16290115
Loans & advances49356359452546529.5327.94
Total current assets657692675603564341183
Total current liabilities11394.5376.2657.0247.9650.1559.82
Net working capital543598598546516291124
Total assets985857760709673611553
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash48.8238.2949.4217.6312.096.9919.82
Net cash from operating activities14812390.8882.2468.0086.1767.40
Net cash from investing activities(94.45)(58.43)(39.07)12.88(27.32)(37.72)26.73
Net cash from financing activities(59.33)(54.00)(62.96)(63.33)(35.14)(43.36)(107)
Net change in cash(6.22)10.53(11.14)31.795.555.09(12.83)
Closing cash12997.0058.3856.4582.16290115
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+17.6%+21.3%+18.9%+12.7%-0.3%+2.0%-
EBITDA growth+27.1%+38.6%+12.9%+24.8%-16.9%+17.8%-
PBT growth+22.4%+31.1%+16.6%+27.5%-16.9%+14.0%-48.4%
Net income growth+24.7%+36.6%+20.3%+11.2%-16.1%+8.7%-
Revenue CAGR (3Y)+19.3%+17.6%+10.1%+4.6%-8.1%-9.3%-5.4%
EBITDA CAGR (3Y)+25.7%+25.0%+5.4%+6.9%-23.0%-23.1%-23.6%
Profitability & leverage
Net income margin+36.7%+34.8%+30.9%+30.6%+31.0%+36.6%+34.3%
Return on capital employed+26.1%+24.3%+20.4%+18.5%+15.5%+20.6%+19.0%
Return on net worth+20.0%+18.4%+14.8%+13.0%+12.4%+16.2%+15.4%
Debt / equity0.030.030.030.020.010.010.00
Long-term debt / equity0.020.020.020.020.010.000.00
Interest cover1.361.471.681.130.640.701.26
Efficiency & per share
Fixed asset turnover2.962.712.442.262.292.392.46
Inventory turnover0.000.000.000.000.000.000.00
Debtors turnover14.0914.7415.4715.0713.037.985.53
EPS (β‚Ή)56.9745.8533.6728.1225.3330.3827.96
Dividend per share (β‚Ή)22.0018.0018.0025.0017.0017.0019.50
Book value per share (β‚Ή)310.29269.37240.23226.33218.41199.86173.02
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue88.1510890.2411475.6491.2478.59102
Revenue growth (YoY)+16.5%+17.9%+14.8%+12.6%+15.8%---
Other income15.6315.3913.1612.5414.7415.5111.4311.76
Total expenses56.0649.6853.0049.3048.5045.4948.2944.60
EBITDA32.0957.9037.2464.9727.1445.7530.3056.91
EBITDA margin+36.4%+53.8%+41.3%+56.9%+35.9%+50.1%+38.6%+56.1%
Depreciation2.332.332.302.302.091.952.011.98
Interest0.370.380.390.400.410.380.390.40
Profit before tax45.0270.5847.7174.8139.3858.9339.3366.29
Tax11.1517.2011.6518.9810.2614.049.8616.66
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue388337283249219220219
Revenue growth+15.2%+18.9%+13.8%+13.5%-0.2%+0.3%-
Other income55.6851.3946.9637.1028.3632.1231.34
Total expenses200182159139133131143
Employee cost16314612510410710396.70
EBITDA18715512411086.0088.2776.54
EBITDA margin+48.3%+46.1%+43.8%+44.1%+39.2%+40.2%+34.9%
Depreciation9.027.947.658.056.997.096.91
Interest1.591.581.480.700.400.570.74
Profit before tax232197162138107113100
Tax58.0849.0242.4434.3422.5126.9019.75
Net profit17414811910484.4685.8380.48
Net profit margin+45.0%+44.0%+42.2%+41.7%+38.5%+39.1%+36.7%
EPS (β‚Ή)58.0449.4440.0134.9528.4929.1327.32
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital30.0529.9329.8529.7029.6529.4629.46
Reserves & surplus954828729665621554479
Shareholders' funds (net worth)984858759695650583532
Secured loans0.000.000.000.000.000.000.00
Unsecured loans15.5715.7116.6913.654.226.490.00
Total debt15.5715.7116.6913.654.226.490.00
Total liabilities1,013886787718665600546
Assets
Gross block12712812011399.3591.7294.04
Net block91.8092.8192.9890.8581.9576.3482.63
Capital work in progress4.892.921.472.866.523.740.34
Investments20725512911270.51266359
Inventories0.000.000.000.000.000.000.00
Sundry debtors25.4322.4814.7115.1913.6116.6936.02
Cash & bank balances67.8226.5630.5042.7671.27269101
Loans & advances47055356850044314.6817.62
Total current assets563602614558528300155
Total current liabilities89.9576.3458.3342.7437.3140.9651.34
Net working capital473526555515490259103
Total assets1,013886787718665600546
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash26.3530.2942.5111.965.883.9318.33
Net cash from operating activities14212110794.5163.5482.4765.69
Net cash from investing activities(98.31)(71.91)(59.61)(2.22)(22.87)(37.80)25.93
Net cash from financing activities(53.07)(52.93)(59.96)(61.74)(34.59)(42.71)(106)
Net change in cash(9.07)(3.94)(12.22)30.556.081.95(14.40)
Closing cash67.8226.5630.5042.7671.27269101
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+15.2%+18.9%+13.8%+13.5%-0.2%+0.3%-
EBITDA growth+20.8%+25.1%+13.0%+27.7%-2.6%+15.3%-
PBT growth+18.0%+21.7%+17.2%+29.1%-5.1%+12.5%-49.4%
Net income growth+17.8%+23.9%+15.1%+22.9%-1.6%+6.7%-
Revenue CAGR (3Y)+15.9%+15.4%+8.8%+4.3%-9.7%-11.9%-7.9%
EBITDA CAGR (3Y)+19.5%+21.7%+12.0%+12.8%-20.5%-25.0%-25.6%
Profitability & leverage
Net income margin+45.0%+44.0%+42.2%+41.7%+38.5%+39.1%+36.7%
Return on capital employed+24.7%+23.7%+21.7%+20.1%+17.0%+19.8%+18.3%
Return on net worth+18.9%+18.3%+16.4%+15.4%+13.7%+15.4%+14.9%
Debt / equity0.020.020.020.010.010.010.00
Long-term debt / equity0.020.020.020.010.000.000.00
Interest cover0.891.071.270.690.510.701.06
Efficiency & per share
Fixed asset turnover3.042.712.432.352.302.362.47
Inventory turnover0.000.000.000.000.000.000.00
Debtors turnover16.1918.1118.9317.2814.478.335.51
EPS (β‚Ή)58.0449.4440.0134.9528.4929.1327.32
Dividend per share (β‚Ή)22.0018.0018.0025.0017.0017.0019.50
Book value per share (β‚Ή)327.36286.60254.34233.96219.33197.98172.45

Competitors of Amul Dairy

Amul Dairy has 3 listed competitors in our database, 3 of them funded. They include Sid's Farm, Desi Farms and Milk Mantra.

Company NameDomainFoundedHQ LocationTotal fundingEmployeesDescription
sidsfarm.com2013Hyderabad, India$12.18M466
Subscription-based dairy products are delivered via an internet-first brand.
desifarmsindia.in2016Pune, India$6M79
Provider of direct-to-consumer, farm-to-table delivery of fresh dairy products, including milk, yogurt, and other preservative-free dairy products
milkmantra.com2009Bhubaneswar, India$32.74M399
Multi-category dairy products are supplied to urban consumers.
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Web traffic of Amul Dairy

The website of Amul Dairy (amuldairy.com) receives about 23.7K visits a month.

  • Monthly visits
    23.7K

    ▼ 3.2% vs previous month

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β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’.comβ€’β€’%β€’.β€’M#‒‒‒‒‒–
β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’.comβ€’β€’%β€’.β€’M#‒‒‒‒‒–
β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’β€’.comβ€’β€’%β€’.β€’M#‒‒‒‒‒–
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Frequently Asked Questions about Amul Dairy

Amul Dairy was founded in 1946.

Amul Dairy is headquartered in Anand, India. It is registered at Anand, Gujarat, India.

Amul Dairy has 571 employees.

The primary company behind Amul Dairy, Care Ratings Limited, reported revenue of β‚Ή528 Cr for FY 2026, up 18% year on year.

Amul Dairy, headquartered in Anand, Gujarat, India, is a cooperative union that unites small milk producers for large-scale dairy operations. It provides services like animal health care, nutrition training, and quality milk production, while promoting rural development through initiatives such as scholarships and sanitation campaigns. The organization benefits farmers by enabling economic access to markets and supports Indias milk production leadership.

Amul Dairy's top competitors include Sid's Farm, Milk Mantra and Desi Farms.

Amul Dairy offers Dairy Products, Veterinary Services, and Training Programs.

Yes, Amul Dairy is publicly traded on NSE under the ticker symbol CARERATING.

Amul Dairy operates through Care Ratings Limited.

The legal entities of Amul Dairy currently have 10 directors, including Gurumoorthy Mahalingam, Venkatadri Chandrasekaran, Mehul Harshadray Pandya and others.

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