Agricultural Products company Kaveri Seed Company announced standalone Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue from Operations was at Rs 80.54 crore as compared to Rs 60.64 crore in Q4FY23, grown by 32.82% EBITDA was at Rs 15.50 crore as compared to Rs (6.73) crore in Q4FY23, registered a growth of 3.32 times Net Profit was at Rs 2.79 crore as compared to Rs (13.89) crore in Q4FY23, grown by 1.20 times FY24 Financial Highlights: Revenue from Operations was at Rs 1,062.43 crore as compared to Rs 1,000.56 crore in FY23, grown by 6.18% EBITDA was at Rs 336.63 crore as compared to Rs 296.94 crore in FY23, grown by 13.37% Net Profit was at Rs 293 crore as compared to Rs 267.04 crore in FY23, registered growth of 9.72% Commenting on the results, G V Bhaskar Rao, Chairman & Managing Director said, “In our endeavor to reward our shareholders, we had done a buyback of 44.83 lakhs shares at Rs 725 per share amounting to Rs 325 crore. Vegetables segment continues to perform well on both volume and revenues front on account of increasing share of new variants launched during the year. The volume increase in vegetable crops has resulted in good realisation. Whereas across other segments like cotton, Hybrid rice and selection rice realisations were higher due to demand for these seed segments and price increase. Our efforts in the last three years in capturing the market share in above outlined segments is really paying off now. We have recently incorporated subsidiary in Bangladesh to boost our exports. Exports are showing good traction and expected to be sizable business.” Result PDF
Conference Call with Kaveri Seed Company Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.
Agricultural Products firm Kaveri Seed Company announced Q1FY24 results: Revenue from Operations was at Rs 767.30 crore vs Rs 731.95 crore in Q1FY23; registered a growth of 4.84% EBITDA was at Rs 279.09 crore as compared to Rs 248.05 crore in Q1FY23; increased by 12.51% EBITDA Margin improved to 36.37% from 33.89% in Q1FY23, growing by 248 basis points Net Profit was at Rs 267.84 crore as compared to Rs 240.67 crore in Q1FY23; registered a growth of 11.29% Net Profit margin improved to 34.91% from 32.88% in Q1FY23, registering a growth of 203 basis points Commenting on the results, G V Bhaskar Rao, Chairman & Managing Director said, "We continue to deliver good growth in overall profitability of the company. The profit for the quarter is almost equal to the profits delivered during the full year FY23. This has resulted in a growth of 11.29% in EPS to Rs 47.91 per share. The delay in the monsoon has impacted volumes and sales of maize during the quarter. We are expecting that there would be an increase in the sowing of Maize during the Rabi season. Sunflower and Mustard exports will start in the second quarter. Besides, expecting vegetable seeds exports to increase to Bangladesh in Bitter Gourd, Okra, Watermelon, and Hot pepper." Result PDF
Conference Call with Kaveri Seed Company Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.