Godrej Agrovet (GODREJAGRO) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 revenues grew 11% year-on-year to ₹2,718 crore, with profit before tax up 23% and EBITDA up 25%, driven by margin expansion, operational efficiencies, and strong segment contributions.

• Nine-month consolidated revenues reached ₹7,900 crore, up 9% year-on-year; profit before tax (excluding exceptional items) rose 17% to ₹482 crore.

• Animal Feed and Vegetable Oil segments delivered robust volume and margin growth, while Dairy and Crop Protection faced headwinds from higher input costs and adverse weather.

• New product launches and sustainability initiatives supported growth and operational efficiency.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved, with limited review reports carrying unmodified opinions.

Financial highlights

• Q3 FY26 consolidated revenue was ₹2,718.32 crore, up 11% year-on-year; EBITDA was ₹260 crore, up 13.6%; PBT before non-recurring items was ₹169 crore, up 23.1%.

• PAT before non-recurring items grew 33.9% to ₹133 crore; EBITDA margin improved to 9.6%.

• For 9M FY26, revenue rose 9% to ₹7,900 crore, EBITDA up 8.9% to ₹763 crore, and PBT up 13.2% to ₹482 crore.

• Basic EPS for Q3 FY26 was ₹6.01, up from ₹4.81 in Q2 FY26.

• Segment performance was led by Animal Feed and Vegetable Oil, with strong volume and margin growth.

Outlook and guidance

• Continued focus on margin expansion, operational efficiency, and new product development is expected to drive future growth.

• Astec LifeSciences expects Q4 to follow Q3’s positive trend, targeting 20% revenue growth for the year and positive EBITDA.

• Oil Palm business expects FFB tonnage growth in the 12%-15% range annually, supported by acreage expansion and improved farmer engagement.

• Crop Protection expects healthy growth ex-co-marketing in Q4, with new product launches and diversification into maize herbicide and multi-crop insecticide.

• The company continues to monitor regulatory changes, especially regarding new labour codes, and will adjust accounting as needed.