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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Godrej Agrovet
Godrej Agrovet (GODREJAGRO) investor relations material
Godrej Agrovet Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary6 Nov, 2026
Executive summary
Q2 FY27 revenue from operations was ₹2,994.98 crore, up from ₹2,567.42 crore; PAT rose to ₹102.75 crore from ₹84.34 crore.
Q2 EBITDA was ₹222 crore, flat YoY, while PBT was ₹131 crore and EBITDA margin 7.4%; reported PBT including associate and JV profit was ₹143.24 crore.
H1 revenue was ₹5,850.20 crore and PAT ₹231.06 crore; H1 EBITDA was ₹476 crore, down 5% YoY.
Animal Nutrition and Oil Palm growth offset pressure on Crop Care, Dairy and Astec amid El Niño-related crop weakness and elevated input costs.
The Board approved unaudited standalone and consolidated results; limited reviews carried unmodified conclusions.
Financial highlights
Q2 PBT rose 5% YoY to ₹131 crore; EBITDA margin was 7.4%, PBT margin 4.4% and PAT margin 3.4%.
H1 reported EBITDA was ₹476 crore (-5%), PBT ₹299 crore (-4%) and PAT ₹231 crore (-1%); excluding non-recurring items, EBITDA was ₹480 crore, PBT ₹303 crore and PAT ₹229 crore.
Q2 consolidated total income was ₹3,016.78 crore and total expenses ₹2,886.09 crore.
Godrej Foods B2C grew 50%, with B2C salience at 38%; prior-year launches contributed 25% of current business, per management.
Outlook and guidance
FY27 double-digit PBT growth remains a target, though AgChem weakness and commodity volatility have made the outlook tougher; Crop Care H2 outlook remained muted.
Oil Palm guidance calls for double-digit FFB volume growth and OER recovery, with a year-end target of 19.7% or higher, subject to conditions.
Oil Palm EBITDA is targeted to deliver a healthy double-digit CAGR; downstream derivatives are expected to add 2 percentage points to segment EBITDA margin over 2–3 years as they scale.
Crop Care plans 1–2 new products annually and targets seven crop segments by FY30; Astec targets CDMO at 50%–55% of its business in the midterm.
Milk prices and dairy margin pressure are expected to persist in Q3; pricing relief is not expected over the next two quarters.
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Latest events from Godrej Agrovet
- Sales grew and leverage eased, but lower consolidated PAT and an audit qualification temper the FY18 story.GODREJAGRO
Q4 17/18 - Revenue expanded and leverage fell, but ESOP-linked remuneration triggered a qualified audit opinion.GODREJAGROQ4 16/17
- Revenue grew, margins faced input-cost pressure, and acquisitions lifted reported profit.GODREJAGROQ4 18/19
- Higher income was offset by poultry losses, COVID disruption and weaker consolidated profit.GODREJAGROQ4 19/20
- Profit rose despite weaker sales as feed and subsidiaries offset COVID disruption.GODREJAGROQ4 20/21
- Record FY22 income, led by Feed and Oil Palm, offset by crop and food margin pressure.GODREJAGROQ4 21/22
- Revenue grew 13%, while margin pressure cut PAT; cash generation and growth investment strengthened.GODREJAGROQ4 22/23
- Q1 FY27 revenue up 10% to ₹2,855.22 crore, but margins fell and new CFO appointed.GODREJAGROQ1 26/27
- Q3 FY26 revenue grew 11% to ₹2,718 crore, with 23% PBT and 33.9% adjusted PAT growth.GODREJAGROQ3 25/26
Next Godrej Agrovet earnings date
Q3 26/273 Feb, 2027
Godrej Agrovet
Next Godrej Agrovet earnings date
Q3 26/273 Feb, 2027
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Frequently asked questions
Godrej Agrovet Limited is an agribusiness company involved in a range of agricultural sectors, including animal feed, crop protection, dairy, oil palm plantations, and poultry. The company produces and markets feed for cattle, poultry, and aquaculture, as well as crop protection products that assist in pest and disease management. Additionally, Godrej Agrovet operates oil palm plantations and processes crude palm oil, supporting India’s demand for edible oils. The company is also engaged in dairy and poultry processing, supplying milk and processed foods. The company is headquartered in Mumbai, India, and its shares are listed on the NSE and BSE.