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Godrej Agrovet Q1 net profit up 19.74% at Rs105.98cr on higher sales growth in the quarter

Godrej Agrovet Ltd reported 28.22% growth in total sales revenues for the Jun-21 quarter on consolidated basis at Rs1,993cr

August 12, 2021 7:22 IST | India Infoline News Service
Godrej Agrovet
Godrej Agrovet Ltd reported 28.22% growth in total sales revenues for the Jun-21 quarter on consolidated basis at Rs1,993cr. On a sequential basis, revenues were up 36.26% compared to Rs1,463cr revenues in Mar-21 quarter, with little impact of COVID 2.0.

On a yoy basis, the company saw positive growth across most of the verticals including animal feed, vegetable oil, crop protection, dairy and the poultry and processed foods segment. The growth in animal feeds business was 33% and in vegetable oil it was 84% yoy growth.

Net profit for the Jun-21 quarter was up 19.74% at Rs105.98cr. The profit growth was largely by EBIT gains in animal feed and vegetable oil. The EBIT on crop protection was flat while the EBIT on dairy and the processed foods business dipped into the negative due to a sharp spike in the cost of materials.

On an overall basis, cost of materials were up 33% on a yoy basis. Net margins for Jun-21 quarter stood at 5.32% against 5.70% in Jun-20 quarter and a lower 3.87% in the sequential Mar-21 quarter. Overall top line was buoyant.


Financial highlights for Jun-21 compared yoy and sequentially


Godrej Agrovet
Rs in Crore Jun-21 Jun-20 YOY Mar-21 QOQ
Total Income (Rs cr) ₹ 1,992.78 ₹ 1,554.17 28.22% ₹ 1,462.48 36.26%
Net Profit (Rs cr) ₹ 105.98 ₹ 88.51 19.74% ₹ 56.59 87.28%
Diluted EPS (Rs) ₹ 5.52 ₹ 4.61 ₹ 2.95
Net Margins 5.32% 5.70% 3.87%

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