Conference Call with Godrej Agrovet Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Godrej Agrovet Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Other agriculture products firm Godrej Agrovet announced Q3FY23 results: Consolidated Q3FY23: Revenues from operations increased to Rs 2,323.5 crore from Rs 2,078.5 crore in Q3FY23, a growth of 12% YoY EBITDA, excluding non-recurring & exceptional items, increased to Rs 159.6 crore in Q3FY23 from Rs 153.9 crore in Q3FY22, a growth of 4% YoY The company reported profit before tax, excluding non-recurring & exceptional items, of Rs 87.8 crore in Q3FY23 as compared to Rs 92.9 crore in Q3FY22, a drop of 5% YoY. 9MFY23: 9MFY23 consolidated revenues from operations increased to Rs 7,278.7 crore from Rs 6,225.3 crore in 9MFY22, a growth of 17% YoY. Company reported consolidated EBITDA, excluding non-recurring & exceptional items, of Rs 488 crore in 9MFY23 as compared to Rs 529.9 crore in 9MFY22. Company reported Profit before tax, excluding non-recurring & exceptional items, of Rs 278.0 crore in 9MFY23 as compared to Rs 357.2 crore in 9MFY22. Commenting on the performance, BS Yadav, Managing Director, Godrej Agrovet Limited, said: "Godrej Agrovet maintained robust volume growth in Q3 and 9MFY23 with increase in top line of 12% YoY in Q3 and 17% YoY in 9MFY23 over the corresponding previous periods. However, on the margin front, it was a challenging quarter for some of the businesses on account of adverse sector-specific macro conditions, unfavourable commodity price movements and limited transmission of input cost inflation. Delayed Rabi sowing due to extended monsoon withdrawal, lower instances of pest infestation and higher channel inventories impacted domestic agrochemicals demand. Crude palm oil prices further corrected in Q3FY23 with increased supplies from the world’s largest exporters – Indonesia and Malaysia. The dairy sector witnessed sustained rise in milk procurement prices with limited transmission. Strong recovery in live bird prices in Q3, post seasonally weak second quarter, supported profitability of the poultry sector. Result PDF