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Revenue
₹2,333 Cr
verified against source
Revenue YoY
9%
reported change
EBITDA
Pending
latest reported figure
Source
nse announcements
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Godrej Agrovet delivered a strong Q4 FY26 with consolidated revenue of ₹2,333 crore (+9% YoY) and PBT growth of 16.8% to ₹87 crore. Full-year revenue crossed ₹10,000 crore milestone at ₹10,233 crore (+9% YoY), with PBT up 17.2% to ₹569 crore. Performance was driven by volume-led growth in animal nutrition (cattle feed volumes +24%), record oil palm area expansion and extraction ratio improvement, and Aztec Life Sciences turning EBITDA positive. Management guided for early double-digit revenue growth and mid-teens PBT growth in FY27, with capex of ~₹350-400 crore and free cash flow of ₹100-125 crore. Key risks include potential El Niño impact on monsoons and Iran war uncertainty affecting palm oil prices and crop protection demand.
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Guidance to track
- Management targets early double-digit consolidated revenue growth for FY27, driven by volume growth across segments.
- Targeting mid-strong double-digit (mid-teens) PBT growth for FY27, building on FY26's 17.2% growth.
- Capex expected around ₹350-400 crore, with 75-80% growth capex, ~50% allocated to oil palm.
- After capex, company expects free cash flow surplus of ₹100-125 crore in FY27.
Risks flagged
- Below-normal monsoon predictions could affect crop protection and animal feed demand, though management believes impact may be mitigated by geographic skew and demographic dividend in oil palm.
- The Iran war creates uncertainty in palm oil prices due to correlation with crude oil; management is taking a quarter-by-quarter view.
- Aztec sourced 47% of imports from China; currency depreciation and supply chain disruptions pose risks, though net exporter status provides a natural hedge.
- Crop care business recovery may be delayed due to carry-forward inventory; full recovery expected only from Q2 FY27.
Key quotes
- We'd like to focus on getting an early double-digit revenue growth across put together at a console level along with the way our PBD has improved this year would like to again target a mid strong double digit mid-teens kind of a PBT growth also for the next year.
- If the Middle East war continues it will probably be bad for the crop protection business but good for oil palm. So for agrovet overall the impact either way may not be very great.
- We are in the process of evaluating what is the most optimal structures and how it will go forward... the interest of all minority shareholders will be protected and our endeavor is actually to make sure that we enhance shareholder value for everyone.
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