GODREJAGRO - Godrej Agrovet
📢 Recent Corporate Announcements
Godrej Agrovet reported a robust FY26 with consolidated revenue growing 9.1% to ₹10,233 crore and PAT increasing 13.9% to ₹440 crore (excluding non-recurring items). The performance was driven by strong volume growth in Animal Nutrition (12%) and a landmark year for the Oil Palm business, which saw a 68% jump in segment results. While Crop Care and Dairy faced headwinds from weather and high procurement costs, Astec LifeSciences achieved an EBITDA turnaround. Notably, the company significantly optimized its working capital cycle to 25 days, leading to an improved ROCE of 20%.
- Consolidated revenue crossed the ₹10,000 crore milestone, reaching ₹10,233 crore in FY26.
- Oil Palm segment result grew by 67.9% YoY, driven by record oil extraction ratios and supportive pricing.
- Animal Nutrition volumes grew 12% YoY, with cattle feed specifically rising by 18%.
- Net Working Capital cycle significantly improved from 39 days to 25 days, boosting ROCE to 20%.
- Astec LifeSciences achieved EBITDA break-even in FY26 with a sharp reduction in losses.
Godrej Agrovet reported a steady financial performance for FY26, with consolidated revenue from operations growing 9% to ₹10,232.68 crore. Full-year consolidated net profit increased by 10.4% to ₹445.18 crore, supported by a strong Q4 performance where profit jumped to ₹102.28 crore from ₹66.10 crore YoY. The Board has recommended a final dividend of ₹11 per share (110% of face value). The company also announced the allotment of 30,973 shares under its ESOP scheme.
- Consolidated Revenue for FY26 rose to ₹10,232.68 crore, up from ₹9,382.77 crore in FY25.
- Full-year Consolidated Profit After Tax (PAT) grew 10.4% YoY to ₹445.18 crore.
- Recommended a final dividend of ₹11.00 per equity share (110%) for FY 2025-26.
- Q4 FY26 consolidated PAT stood at ₹102.28 crore, a significant jump from ₹66.10 crore in the same quarter last year.
- Paid-up equity share capital increased to ₹192.36 crore following the allotment of 30,973 ESOP shares.
Godrej Agrovet reported a steady financial performance for FY 2025-26, with consolidated revenue growing 9.1% YoY to ₹10,232.68 crore. Net profit for the year increased by 10.4% to ₹445.18 crore, supported by improved operational efficiencies. The Board has recommended a substantial final dividend of ₹11 per share (110% of face value). Additionally, the company managed its employee stock options by allotting 30,973 shares and granting 50,507 new options to eligible employees.
- Consolidated Revenue from Operations grew 9.1% YoY to ₹10,232.68 crore in FY26.
- Consolidated Net Profit (PAT) increased to ₹445.18 crore from ₹403.37 crore in the previous fiscal.
- Recommended a final dividend of ₹11.00 per equity share for the financial year 2025-26.
- Basic Earnings Per Share (EPS) rose to ₹24.58 compared to ₹22.35 in FY25.
- Allotted 30,973 equity shares and granted 50,507 new stock options under the ESGS 2018 scheme.
Godrej Agrovet reported a steady performance for FY 2025-26, with consolidated revenue crossing the ₹10,000 crore milestone, reaching ₹10,232.68 crore. Net profit for the full year grew by 10.4% YoY to ₹445.18 crore. The Board has recommended a substantial final dividend of ₹11 per share (110% of face value). Additionally, the company processed an ESOP allotment of 30,973 shares and granted 50,507 new stock options to employees.
- Consolidated Revenue from Operations grew 9% YoY to ₹10,232.68 crore for FY26.
- Consolidated Net Profit for the full year increased to ₹445.18 crore from ₹403.37 crore in FY25.
- Recommended a final dividend of ₹11.00 per equity share of face value ₹10 each.
- Q4 FY26 consolidated profit jumped 54.7% YoY to ₹102.28 crore compared to ₹66.10 crore.
- Allotted 30,973 equity shares under ESGS 2018, increasing paid-up capital to ₹192.36 crore.
Godrej Agrovet reported a steady performance for FY 2025-26, with consolidated revenue growing 9.1% to Rs 10,232.68 crore. Consolidated net profit for the year increased by 10.4% to Rs 445.18 crore compared to the previous year. Reflecting this growth, the board has recommended a final dividend of Rs 11.00 per share (110% of face value). The company has fixed July 29, 2026, as the record date for dividend eligibility, with payment expected by August 10, 2026.
- Consolidated revenue for FY26 reached Rs 10,232.68 crore, up from Rs 9,382.77 crore in FY25.
- Consolidated net profit grew to Rs 445.18 crore for the full year, compared to Rs 403.37 crore in FY25.
- Recommended a final dividend of Rs 11.00 per equity share of face value Rs 10 each.
- Record date for dividend entitlement is July 29, 2026, with the AGM scheduled for August 5, 2026.
- Company allotted 30,973 equity shares under its Employee Stock Grant Scheme (ESGS 2018).
Godrej Agrovet reported a steady performance for FY26, with consolidated revenue crossing the ₹10,000 crore milestone, reaching ₹10,232.68 crore. Net profit attributable to owners grew by 10% YoY to ₹472.78 crore, up from ₹429.72 crore in the previous fiscal. The board has recommended a substantial final dividend of ₹11 per share (110% of face value). The company's balance sheet remains healthy with total assets expanding to ₹6,170.19 crore as of March 31, 2026.
- Consolidated Revenue from Operations grew 9.06% YoY to ₹10,232.68 crore in FY26.
- Net Profit attributable to owners rose 10.02% YoY to ₹472.78 crore.
- Recommended a final dividend of ₹11.00 per equity share for the financial year 2025-26.
- Consolidated Basic EPS increased to ₹24.58 from ₹22.35 in the previous fiscal year.
- Total Consolidated Assets increased by approximately 11.8% to ₹6,170.19 crore.
Godrej Agrovet Limited has announced the re-appointment of Dr. Ashok Gulati as an Independent Director for a second consecutive term. The decision was finalized following a Special Resolution passed by shareholders through a postal ballot on April 27, 2026. Dr. Gulati's new term will be effective from May 7, 2026, and will continue until May 10, 2029. This move ensures leadership continuity and maintains the board's expertise in agricultural economics, which is central to the company's operations.
- Re-appointment of Dr. Ashok Gulati (DIN: 07062601) as an Independent Director
- Second term duration set from May 7, 2026, to May 10, 2029
- Shareholder approval obtained via Special Resolution on April 27, 2026
- Disclosure made in compliance with Regulation 30 of SEBI LODR Regulations
Godrej Agrovet Limited has received shareholder approval via a special resolution for the re-appointment of Dr. Ashok Gulati as an Independent Director. His second term will commence on May 7, 2026, and is scheduled to conclude on May 10, 2029. The approval was finalized through a postal ballot process that concluded on April 27, 2026. Dr. Gulati's continued presence on the board ensures continuity in strategic oversight and governance for the company.
- Shareholders approved the re-appointment of Dr. Ashok Gulati via a Special Resolution.
- The second term as Independent Director spans from May 7, 2026, to May 10, 2029.
- The resolution was passed through a Postal Ballot process concluded on April 27, 2026.
- Dr. Gulati is a renowned agricultural economist, providing valuable expertise to the board.
Godrej Agrovet Limited has successfully passed a special resolution via postal ballot for the re-appointment of Dr. Ashok Gulati as a Non-Executive Independent Director. The resolution received overwhelming support with 99.9862% of votes cast in favour. A total of 14.51 crore votes were polled, representing approximately 75.45% of the company's total equity shares. Dr. Gulati's second term will run from May 7, 2026, through May 10, 2029, ensuring continuity in the company's independent board oversight.
- Special resolution for re-appointment of Dr. Ashok Gulati passed with 99.9862% votes in favour.
- Total valid votes polled were 14,51,04,181, accounting for 75.45% of the total 19.23 crore outstanding shares.
- Promoter and Promoter Group cast 13.02 crore votes, all 100% in favour of the resolution.
- Public institutional holders showed strong support with 99.87% of their 1.47 crore votes in favour.
- The new term for the Independent Director is effective from May 7, 2026, to May 10, 2029.
Godrej Agrovet Limited has scheduled its Q4FY26 earnings conference call for Monday, May 4, 2026, at 3:00 PM IST. The management team, including Chairman Nadir Godrej and CEO Sunil Kataria, will discuss the company's financial performance for the quarter and full year ending March 31, 2026. This routine disclosure allows investors and analysts to engage with leadership regarding operational trends in animal feed, palm oil, and crop protection. The call is being coordinated by ICICI Securities and offers international toll-free access for global investors.
- Conference call scheduled for May 4, 2026, at 15:00 hrs IST to discuss Q4FY26 results.
- Top management including Chairman Nadir Godrej and CEO Sunil Kataria will be in attendance.
- Universal access dial-in numbers provided: +91 22 6280 1144 and +91 22 7115 8045.
- International toll-free numbers available for Singapore, Hong Kong, UK, and USA.
- Call coordinated by ICICI Securities with Diamond Pass registration available for participants.
Godrej Agrovet has announced a structured leadership succession plan where Mr. Nadir Godrej will retire as Chairman on August 13, 2026. Mr. Burjis Godrej, currently an Executive Director, has been appointed as Chairman-Designate effective April 13, 2026, and will formally assume the Chairperson role on August 14, 2026. Mr. Burjis Godrej brings significant operational experience, having served as MD of Astec LifeSciences (2025-2026) and COO of Crop Care (2023-2024). This long-term transition plan is designed to ensure stability and continuity in the company's strategic vision.
- Mr. Nadir Godrej to retire as Chairman and Non-Executive Director effective August 13, 2026.
- Mr. Burjis Godrej appointed as Chairman-Designate effective April 13, 2026, and Chairman from August 14, 2026.
- Mr. Nadir Godrej will be appointed as Chairman Emeritus starting August 14, 2026.
- Burjis Godrej holds an MBA from Harvard and previously led Astec LifeSciences as MD from 2025 to 2026.
Godrej Agrovet has announced a planned leadership transition where Mr. Nadir Godrej will retire as Chairman on August 13, 2026. His son, Mr. Burjis N. Godrej, currently an Executive Director, has been appointed as Chairman-Designate immediately and will take over as Chairperson on August 14, 2026. Mr. Nadir Godrej will continue his association with the company as Chairman Emeritus. This move ensures a smooth succession within the promoter family, leveraging Burjis Godrej's experience as former MD of Astec LifeSciences.
- Mr. Nadir Godrej to retire as Chairman and Non-Executive Director effective August 13, 2026.
- Mr. Burjis N. Godrej appointed as Chairman-Designate effective April 13, 2026, and Chairperson from August 14, 2026.
- Mr. Nadir Godrej will transition to the role of Chairman Emeritus starting August 14, 2026.
- Successor Burjis Godrej previously served as MD of Astec LifeSciences (2025-2026) and COO of Crop Care (2023-2024).
Godrej Agrovet has announced a planned leadership transition with Mr. Nadir Godrej set to retire as Chairman on August 13, 2026. He will be succeeded by Mr. Burjis N. Godrej, who has been appointed Chairman-Designate effective April 13, 2026, and will formally take over as Chairperson on August 14, 2026. Mr. Burjis Godrej, an MBA from Harvard, brings significant experience having served as MD of Astec LifeSciences and COO of the company's Crop Care division. To ensure continuity, Mr. Nadir Godrej will remain associated with the company as Chairman Emeritus.
- Mr. Nadir Godrej to retire as Chairman and Non-Executive Director on August 13, 2026.
- Mr. Burjis N. Godrej appointed as Chairperson effective August 14, 2026, and Chairman-Designate immediately.
- Successor Burjis Godrej previously served as MD of Astec LifeSciences (2025-2026) and COO of Crop Care (2023-2024).
- Mr. Nadir Godrej will transition to the role of Chairman Emeritus starting August 14, 2026.
- The transition follows a clear succession plan within the promoter family and existing executive leadership.
Godrej Agrovet has appointed Mr. Vivek Shah as the Head of Sales Development, effective April 10, 2026. Mr. Shah joins with nearly 20 years of experience from FMCG leaders Marico and Britannia, where he managed business portfolios worth up to ₹2,000 crore. His track record includes expanding rural distribution by 40% and leading large-scale digital sales transformations. This strategic hire is aimed at strengthening the company's go-to-market capabilities and driving commercial excellence across its diverse business verticals.
- Vivek Shah appointed as Head - Sales Development starting April 10, 2026
- Brings nearly 20 years of experience in FMCG sales and business turnarounds from Marico and Britannia
- Previously managed business units with turnovers up to ₹2,000 crore and led teams of 200+ members
- Successfully expanded rural distribution by 40% and led digital GTM transformations in previous roles
- Focus at Godrej Agrovet will be on strengthening GTM capabilities and driving commercial excellence
Godrej Agrovet Limited has announced the closure of its trading window starting April 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is ahead of the declaration of the Audited Financial Results for the quarter and financial year ending March 31, 2026. The window will remain closed for all designated persons until 48 hours after the results are made public. This is a standard regulatory procedure for listed Indian companies prior to earnings announcements.
- Trading window closure commences on Wednesday, April 1, 2026.
- Restriction applies to the Audited Financial Results for the Quarter and Financial Year ending March 31, 2026.
- Window will reopen 48 hours after the official declaration of financial results.
- Applies to all Officers and Designated Employees including Directors and Auditors.
- Compliance ensured with SEBI circulars dated August 5, 2022, and July 19, 2023.
Financial Performance
Revenue Growth by Segment
In Q2 FY26, Vegetable Oil revenue grew by 41% YoY, while Animal Feed revenue remained flat despite 18% volume growth in cattle feed. Stand-alone Crop Protection revenue declined sharply by 30% YoY. Consolidated revenue for H1 FY26 reached INR 5,182 Cr, an 8% YoY increase.
Geographic Revenue Split
Not disclosed in available documents; however, the company faces competition from both domestic and external players in the agro-chemicals segment.
Profitability Margins
Consolidated Net Profit Margin improved to 4.3% in FY25 from 3.8% in FY24. Operating Profit Margin rose to 8.7% in FY25 from 7.3% in FY24. In Q2 FY26, Vegetable Oil margins expanded to 22.4% due to higher realizations and extraction ratios.
EBITDA Margin
Operating margins were 9.0% in FY25 compared to 7.6% in FY24. Astec LifeSciences reported gross margins of 44% in Q2 FY26, a 4-5 year high, and is working toward breaking even on EBITDA.
Capital Expenditure
The company has a planned capital expenditure outlay of approximately INR 250-270 Cr per annum over the near term to support growth and recent acquisitions.
Credit Rating & Borrowing
CRISIL reaffirmed a 'Crisil A1+' rating for the INR 1,500 Cr Commercial Paper programme. The company maintains strong financial flexibility as part of the Godrej Group, allowing it to raise debt at competitive rates.
Operational Drivers
Raw Materials
Key raw materials include Fresh Fruit Bunches (FFB) for palm oil, and commodities for animal feed such as maize and soya. Crude Palm Oil (CPO) and Palm Kernel Oil (PKO) realizations are critical for the vegetable oil segment.
Capacity Expansion
Not disclosed in available documents; however, the company is investing in value-added businesses and has recently acquired the balance stakes in Creamline Dairy Products Limited and Godrej Foods Limited.
Raw Material Costs
Raw material costs are subject to high volatility; softening commodity prices in Q2 FY26 led to lower realizations in the animal feed segment despite volume growth. Vegetable oil margins benefited from higher oil extraction ratios.
Manufacturing Efficiency
Vegetable oil efficiency is measured by the oil extraction ratio, which improved in Q2 FY26. Astec LifeSciences is driving margins through process efficiencies and cost controls.
Strategic Growth
Expected Growth Rate
14%
Growth Strategy
Growth is driven by diversification into high-margin segments like Vegetable Oil (41% growth) and CDMO (30-31% margins). The company is focusing on process efficiencies, cost initiatives, and investing in value-added businesses while maintaining a healthy bottom-line growth trajectory of 14% YTD in H1 FY26.
Products & Services
Cattle feed, poultry feed, aqua feed, Crude Palm Oil (CPO), Palm Kernel Oil (PKO), agrochemicals (enterprise and CDMO), dairy products, and processed poultry.
Brand Portfolio
Godrej, Astec LifeSciences, Creamline Dairy Products, Godrej Foods.
New Products/Services
Not disclosed in available documents; however, the company is focusing on expanding its CDMO segment and value-added dairy/poultry products.
Market Expansion
Expansion is targeted through the palm oil business and increasing the application opportunities for agrochemicals in the crop protection segment.
Strategic Alliances
Recent acquisition of balance stakes in subsidiaries Creamline Dairy Products Limited (CDPL) and Godrej Foods Limited (GFL).
External Factors
Industry Trends
The industry is shifting toward diversified agri-businesses. Godrej Agrovet is positioning itself by reducing concentration in animal feed (now 48% of revenue) and growing its presence in specialized segments like CDMO and palm oil.
Competitive Landscape
Intense competition exists in the agro-chemicals business from both domestic and international players.
Competitive Moat
The 'Godrej' brand provides a significant moat, offering strong financial flexibility and favorable access to capital markets. Diversification across multiple agri-segments acts as a durable advantage against cyclicality.
Macro Economic Sensitivity
The business is sensitive to global and domestic demand-supply conditions and government regulations affecting selling prices and input availability.
Geopolitical Risks
Exposure to external players in the agro-chemicals business and global commodity price fluctuations.
Regulatory & Governance
Industry Regulations
Operations are subject to government regulations regarding agriculture, pollution norms, and import/export restrictions.
Taxation Policy Impact
The company's operations are influenced by changes in government regulations and tax laws.
Legal Contingencies
The company notes that important factors influencing operations include potential litigations, though specific case values are not disclosed in the provided text.
Risk Analysis
Key Uncertainties
Climatic risks such as extreme heat impacting palm oil yields and volatility in raw material prices which can impact margins by over 100 bps.
Third Party Dependencies
The company utilizes services of third parties for operations, posing a dependency risk.
Credit & Counterparty Risk
Receivables quality is reflected in a Debtors Turnover Ratio of 17.2; liquidity is strong with over INR 400 Cr in expected internal accruals.