Godrej Agrovet (GODREJAGRO) Q4 20/21 earnings summary

Executive summary

• Consolidated PBT before exceptional items was ₹453.10 crore vs ₹358.55 crore; consolidated PAT rose to ₹347.57 crore from ₹300.58 crore despite lower income.

• Chairman cited 59.7% YoY growth in consolidated PBT excluding non-recurring and exceptional items.

• COVID disruptions reduced sales in feed and dairy, while animal feed, Astec LifeSciences, Godrej Tyson Foods and the Bangladesh JV supported profitability.

Financial highlights

• Consolidated revenue from operations was ₹6,266.71 crore vs ₹6,964.04 crore; total income was ₹6,306.27 crore vs ₹7,010.86 crore.

• Consolidated EBITDA was ₹603.33 crore vs ₹535.30 crore; PAT was ₹347.57 crore vs ₹300.58 crore.

• Consolidated basic EPS was ₹16.34 vs ₹15.94; reported PBT was ₹453.10 crore vs ₹348.63 crore, with prior-year exceptional loss of ₹9.92 crore.

• Standalone revenue from operations was ₹4,413.04 crore vs ₹5,118.68 crore; EBITDA was ₹473.92 crore vs ₹462.59 crore and PAT was ₹279.00 crore vs ₹293.31 crore.

Outlook and guidance

• FY22 prospects were supported by expected consumption recovery, a third consecutive normal monsoon, remunerative crop prices and a stronger Rabi harvest.

• HoReCa reopening was expected to support animal feed and dairy volumes; positive farm conditions were expected to benefit Crop Protection and Oil Palm.

• Fish-feed plant in Uttar Pradesh and Astec’s herbicide plant and R&D facility were expected to advance or commercialise in FY22.

• Animal Feed plans included expanding penetration in key geographies, replicating Samruddhi’s western-market launch and optimising costs through digital initiatives.