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Godrej Agrovet Limited Earnings Summary — Q4 FY2026

Sentiment: Neutral
AI-generated summary
Generated 2026-06-23

Godrej Agrovet Posts Higher Net Profit Despite Seasonal Revenue Dip and Margin Pressure

Net Profit
₹102 Cr
YoY 54.55%
QoQ -7.27%
Prior: ₹66.0 Cr
Revenue
₹2333 Cr
YoY 9.33%
QoQ -14.16%
Prior: ₹2134 Cr
Operating Margin
6%
YoY -14.29%
QoQ -33.33%
Prior: 7%
Dividend Yield
Annual payout ratio is approx 45-50%
Net Debt / Equity
0.77
YoY 16.67%
Prior: 0.66

Key Takeaways

  • Net profit grew 54.5% year-on-year to ₹102 crore, although it saw a slight sequential dip from the previous quarter.
  • Revenue showed a healthy 9.3% year-on-year growth, though seasonal factors led to a 14% quarter-on-quarter decline.
  • Operating margins compressed to 6%, down from 7% in the same quarter last year, reflecting ongoing commodity price volatility.
  • Other income surged significantly to ₹78 crore in the current quarter, providing a substantial boost to the bottom line.
  • Borrowings increased to ₹1,574 crore by the end of FY26 compared to ₹1,396 crore in the previous year.
  • The 3-year revenue CAGR remains low at 3%, indicating structural growth challenges in core commodity segments.
  • Management continues to pivot towards value-added dairy and specialty crop protection to mitigate lower margins in animal feed.
  • Consistent dividend history maintained, with a payout of 45% for the full fiscal year 2026.

Management Guidance

Management is focused on increasing the 'Value Added' salience in the dairy business and expanding oil palm acreage to improve margin stability.

Sentiment Shift

Stable

While net profit growth is strong YoY, it was heavily aided by 'Other Income' rather than operational efficiency, as OPM declined.

Commodity Dependent
Transitioning
High Governance
Value Focused

Outlook

The outlook depends on navigating maize and soy price volatility in the animal feed segment and the successful turnaround of the Astec LifeSciences subsidiary.

From the Annual Report (Key Quotes)

Management quality is high, but the team's ability to navigate volatile commodity cycles remains the primary execution risk.

Business is pivoting toward more value-added segments like dairy and specialty crop protection to escape commodity pricing traps.

Recent board changes at subsidiary Astec LifeSciences suggest an active approach to correcting underperformance.

Earnings Call Transcript — Q4 FY2026

Open original
Godrej Agrovet Ltd.
Registered Office : Godrej One,
3rd Floor, Pirojshanagar,
Eastern Express Highway,
Vikhroli (E), Mumbai 400 079, India.
Tel. : +91-22-2518 8010/8020/8030
Fax : +91-22-2519 5124
Email : [gavlho@godrejagrovet.com](mailto:gavlho@godrejagrovet.com)
Website : [www.godrejagrovet.com](http://www.godrejagrovet.com/)
CIN : L15410MH1991PLC135359

Date: May 8, 2026

To,
BSE Limited
P. J. Towers, Dalal Street,
Fort, Mumbai – 400001

Ref.: BSE Scrip Code No. “540743”

To,
National Stock Exchange of India Limited
Exchange Plaza, Bandra-Kurla Complex,
Bandra (East), Mumbai-400051

Ref.: “GODREJAGRO”

Dear Sir / Madam,

Sub.: Transcript of Conference call with Investors & Analysts held on Monday, May 4, 2026 at 3.00 p.m.

Ref.: Regulation 30 of the Securities and Exchange Board of India (Listing obligations and disclosure
Requirements) Regulations, 2015

Please find enclosed herewith a transcript of Conference call of Godrej Agrovet Limited with the Investors
and Analysts held on Monday, May 4, 2026 at 3.00 p.m. IST.

The aforesaid information is also available on the website of the Company viz., [www.godrejagrovet.com](http://www.godrejagrovet.com/).

Please take the same on your records.

Thanking you,

Yours faithfully,

For Godrej Agrovet Limited

Head – Legal & Company Secretary & Compliance Officer
(ACS - 11787)

Vivek Raizada

Vivek Raizada
Head – Legal & Company Secretary & Compliance Officer

* * *

# “Godrej Agrovet Limited Q4 FY '26 Earnings Conference Call”

# May 04, 2026

## MANAGEMENT: MR. NADIR GODREJ – CHAIRMAN – GODREJ AGROVET LIMITED

## MR. SUNIL KATARIA – CHIEF EXECUTIVE OFFICER

### AND MANAGING DIRECTOR – GODREJ AGROVET

## LIMITED MR. S. VARADARAJ – CHIEF FINANCIAL OFFICER –

## GODREJ AGROVET LIMITED MR. BURJIS GODREJ – CHAIRMAN DESIGNATE –

## ASTEC LIFESCIENCES MR. ARIJIT MUKHERJEE – EXECUTIVE DIRECTOR AND

## CHIEF OPERATING OFFICER – ASTEC LIFESCIENCES

## MODERATOR: MR. PROBAL SEN – ICICI SECURITIES

### Page 1 of 21

* * *

Moderator:

Ladies and gentlemen, good day and welcome to the Godrej Agrovet Limited Q4 FY '26
Earnings Call, hosted by ICICI Securities. As a reminder, all participant lines will be in listenonly mode and there will be an opportunity for you to ask questions after the presentation
concludes. Should you need assistance during the conference call, please signal an operator by
pressing star then zero on your touchtone phone. Please note that this conference is being
recorded.

I would now like to hand the conference over to Mr. Probal Sen from ICICI Securities. Thank
you and over to you.

Probal Sen:

Thank you. Good afternoon, everyone, thanks for making the time and joining us on this Godrej
Agrovet Q4 FY '26 Earnings Conference Call. From the company, we have with us members of
the senior management including Mr. Nadir Godrej, the Chairman of the company; Mr. Burjis
Godrej, the Chairman Designate; Mr. Sunil Kataria, the Chief Executive Officer and Managing
Director; Mr. S. Varadaraj, the Chief Financial Officer; and Mr. Arijit Mukherjee, the Executive
Director and Chief Operating Officer of Astec LifeSciences.

We would like to begin the call with brief opening remarks from the management, following
which we will have the forum open for an interactive Q&A session. Before we start, I would
like to point out that some statements made in today's call may be forward-looking and a
disclaimer to this effect has been included in the earnings presentation that the company has
shared with you earlier.

Without further ado, I would now like to invite Mr. Nadir Godrej to make the initial remarks.
Over to you, sir.

Nadir Godrej:

Thank you. Good afternoon, everyone and welcome you all to the Godrej Agrovet Earnings Call.
I will begin by briefly commenting on our performance for quarter 4 fiscal year '26 and the full
year fiscal year '26. Godrej Agrovet delivered a strong and consistent performance in quarter 4
fiscal year '26, concluding the year on a positive note.

For the quarter

Source: NSE — Latest Concall Transcript

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This summary is AI-generated from Godrej Agrovet Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.

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