Godrej Agrovet (GODREJAGRO) Q4 25/26 earnings summary

Executive summary

• FY26 consolidated revenues surpassed INR 10,000 crore for the first time, reaching INR 10,233 crore, with record profitability and 9% year-on-year growth, driven by strong Animal Nutrition and Oil Palm segments.

• Profit before tax (excluding non-recurring items) rose 17.2% to INR 569 crore, with gross margin improving by 400 bps year-on-year and branded business salience exceeding 80%.

• Audited standalone and consolidated financial results for FY26 were approved with an unmodified audit opinion.

• Segment performance was temporarily impacted by extreme weather and unseasonal rains, affecting volumes in some categories.

• Strategic focus on value-added and branded portfolios, sustainability initiatives, and leadership changes in key subsidiaries.

Financial highlights

• FY26 consolidated revenue from operations was INR 10,233 crore, up 9% year-on-year; PBT (excluding exceptional items) rose 17.2% to INR 569 crore.

• EBITDA (excluding non-recurring items) was INR 969 crore, up 12.8% year-on-year; EBITDA margin at 9.5%.

• Net profit after tax for FY26 was INR 526.26 crore, with PAT margin at 4.4%.

• Working capital reduction led to stronger operating cash flows and improved return on capital employed, with net working capital days reduced to 20 and ROCE rising to 25%.

• Final dividend of Rs. 11 per share recommended for FY26, subject to shareholder approval.

Outlook and guidance

• Targeting early double-digit consolidated revenue growth and mid-teens PBT growth for FY27, led by volume expansion and new product launches.

• Animal nutrition, oil palm, and branded foods expected to sustain double-digit growth; crop care business set for recovery from Q2 FY27.

• Astec LifeSciences aims for 15-20% topline growth, with CDMO segment outpacing enterprise; margins expected to remain stable.

• Oil palm business to focus on further area expansion and value-added products, with specialty fat refinery coming online in H2 FY27.

• Final dividend of Rs. 11 per share recommended, with payment expected on or before August 10, 2026, subject to AGM approval.