Godrej Agrovet Ltd – Q4 FY26 Results

key financial highlights

• Revenue from Operations:
  • Total Income (Q4 FY26): ₹2,400.49 Cr
    • QoQ Change: -12.29%
    • YoY Change: +11.83%
  • Previous Quarter (Q3 FY26): ₹2,736.66 Cr
  • Previous Year (Q4 FY25): ₹2,146.59 Cr
• Profit After Tax (PAT):
  • PAT (Q4 FY26): ₹102.28 Cr
    • QoQ Change: -6.79%
    • YoY Change: +54.73%
  • Previous Quarter (Q3 FY26): ₹109.73 Cr
  • Previous Year (Q4 FY25): ₹66.10 Cr
• QoQ Performance
  • Revenue Trend: Decline
  • Profit Trend: Decline

Margin Analysis

Drivers:

• Increase in raw material consumption cost
• Stable but elevated employee and operating costs
• Inventory adjustments impacting margins

Insight:

• in compression sequentially → operational efficiency slightly weak in Q4

Segment performance

Segment: Business Nature

• Animal Feed
• Crop Protection
• Dairy
• Poultry

Performance Summary

• Agro business remains seasonally impacted
• Cost pressure visible across segments

Segment insight

Summary:

• Godrej Agrovet operates in agri-value chain businesses, making it highly dependent on:
  • Monsoon cycles
  • Commodity prices
  • Rural demand

Charcateristics:

• Cyclical + seasonal
• Input cost sensitive
• Margin volatility common

Earning quality check

Drivers:

• Core operating profit drives earnings
• Minimal reliance on exceptional items
• Some support from associate income

Interpretations:

• Earnings quality is decent, but not high margin business

balance sheet Analysis

• Total Assets: ₹6,170.19 Cr
• Total Liabilities: ₹4,006.53 Cr
• Total Equity: ₹2,163.66 Cr

Insight:

• Rising borrowings (₹816 Cr vs ₹455 Cr YoY)
• Working capital heavy business
• Moderate leverage increase

key risks

• Agri commodity price volatility
• Monsoon dependency
• Margin pressure from input cost inflation
• Rising debt levels

management strategy signals

Focus Area:

• Value-added agri products
• Expansion in animal feed & dairy
• Efficiency improvements

Financial metrics table

Quarterly Performance Context