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Godrej Agrovet Q3 FY26: 11% Revenue Growth and 23% PBT Increase
Godrej Agrovet reported a strong Q3 FY26 with consolidated revenue growing 11% YoY and PBT (before exceptional items) rising 23%. The performance was bolstered by a 27% revenue jump in the Vegetable Oil business and a 12% volume growth in Animal Feed. Astec LifeSciences showed a sharp recovery with 33% revenue growth and a return to positive EBITDA of INR 5 crores. Management indicated a strategic portfolio review is underway to prioritize high-growth segments, with updates expected by April 2026.
Key Highlights
Consolidated revenue grew 11% YoY in Q3 FY26, while 9M FY26 PBT rose 17% to INR 482 crores.
Vegetable Oil segment revenue grew 27% YoY with a record oil extraction ratio (OER) of 21%.
Animal Feed volumes increased 12% YoY, led by a significant 21% growth in cattle feed.
Astec LifeSciences turned EBITDA positive at INR 5 crores compared to a loss in the previous year.
Branded salience in the Foods business reached 81%, driving a 51% YoY growth in segment EBITDA to INR 17 crores.
💼 Action for Investors
Investors should maintain a positive outlook given the operational efficiencies and the turnaround in Astec LifeSciences. Key focus should remain on the upcoming strategic portfolio review in April 2026 which may unlock further value.
Godrej Agrovet Launches 'TAKAI' Insecticide for Rice Crops to Combat 40% Yield Loss
Godrej Agrovet has launched 'TAKAI,' a new insecticide for rice crops powered by Cyclapryn™ technology from ISK Japan. The product specifically targets Stem Borer and Leaf Folder pests, which are responsible for yield losses of up to 40% and 30% respectively in Indian rice farming. With India producing 150.18 million tonnes of rice annually but maintaining low yields of 2.9 tonnes/hectare, this product addresses a significant productivity gap. The company is also pursuing label approvals to expand the product's use to six additional crops, including Maize, Soybean, and Sugarcane.
Key Highlights
Launched 'TAKAI' insecticide targeting pests that cause 30-40% yield loss in rice crops.
Powered by advanced Cyclapryn™ technology through a strategic partnership with ISK Japan.
Addresses a massive domestic market where India produces 150.18 million tonnes of rice annually.
Expansion plans in progress for label approvals in Maize, Chilli, Cabbage, Soybean, Chickpea, and Sugarcane.
Recommended application of 160 ml dose provides long-lasting protection during critical growth stages.
💼 Action for Investors
Investors should view this as a positive development for the Crop Protection segment, as it strengthens the portfolio with high-tech, high-impact solutions. Monitor the upcoming label approvals for other crops as they will be key drivers for volume growth in the medium term.
Godrej Agrovet Q3 FY26: Profit Jumps 23% and Revenue Grows 11% on Strong Segment Performance
Godrej Agrovet reported a robust Q3 FY26 with revenue growing 11% and profitability increasing by 23% year-on-year. The growth was primarily driven by the Vegetable Oil segment, which saw a 25% profit increase, and the Poultry business, where EBITDA surged by 51%. Astec LifeSciences showed a significant turnaround by returning to positive EBITDA, while the Animal Feed business maintained strong volume growth in the cattle feed category. However, the Dairy segment and Crop Protection faced headwinds from high procurement costs and unseasonal weather, respectively.
Key Highlights
Consolidated profitability increased by 23% y-o-y with revenue growth of 11% in Q3 FY26.
Vegetable Oil segment profit grew 25% driven by 16% FFB growth and 30 bps improvement in Oil Extraction Ratio.
Poultry business EBITDA surged 51% y-o-y as branded product salience reached 81%.
Animal Feed cattle volumes grew 21% y-o-y, with EBIT per metric ton improving to Rs. 2,020.
Astec LifeSciences returned to positive EBITDA supported by higher volumes in enterprise and CDMO categories.
💼 Action for Investors
Investors should focus on the strong turnaround in Astec LifeSciences and the sustained margin expansion in the core Vegetable Oil and Feed businesses. While Dairy remains a drag, the overall diversified portfolio is showing strong operational execution.
Godrej Agrovet Q3 FY26: Revenue Up 11%, Adjusted PAT Surges 33.9% Amid Strong Operational Growth
Godrej Agrovet reported a strong Q3 FY26 with consolidated revenue growing 11% YoY to ₹2,718 crore, driven by robust performance in Vegetable Oil and Animal Feed segments. While reported PAT remained flat at ₹110 crore, adjusted PAT (excluding non-recurring items) grew significantly by 33.9% to ₹133 crore. The Animal Feed segment saw a 21% volume growth in cattle feed, and the Vegetable Oil business benefited from a 16% increase in Fresh Fruit Bunch arrivals. However, the Dairy segment faced headwinds due to higher procurement prices, leading to a 38% drop in EBITDA.
Key Highlights
Consolidated Revenue grew 11% YoY to ₹2,718 crore, with EBITDA rising 13.6% to ₹260 crore
Adjusted PAT (excluding non-recurring items) increased by 33.9% YoY to ₹133 crore
Animal Feed segment recorded 12% volume growth, led by a 21% surge in cattle feed volumes
Vegetable Oil business EBIT grew 25% YoY, supported by 16% growth in FFB arrivals
Astec LifeSciences turned EBITDA positive at ₹5 crore compared to a loss of ₹4 crore in Q3 FY25
💼 Action for Investors
Investors should note the strong margin expansion in the core Oil Palm and Animal Feed businesses, along with the turnaround in Astec LifeSciences. The stock remains a solid play on the Indian agricultural value chain, though dairy margin volatility warrants monitoring.
Godrej Agrovet Q3 Revenue Grows 11% to ₹2,718 Cr; Net Profit Flat at ₹110 Cr
Godrej Agrovet reported a steady 11% year-on-year growth in consolidated revenue, reaching ₹2,718.32 crore for Q3 FY26. However, consolidated net profit remained flat at ₹109.73 crore, largely due to a one-time exceptional charge of ₹30.44 crore related to the implementation of new Labour Codes. The company has significantly consolidated its portfolio, increasing its stake in Creamline Dairy to 99.78% and making Godrej Foods a wholly-owned subsidiary. Despite the exceptional hit, the underlying operational performance remains stable with a slight increase in basic EPS to ₹5.97.
Key Highlights
Consolidated Revenue from Operations rose 11% YoY to ₹2,718.32 crore from ₹2,449.63 crore.
Consolidated Net Profit for the quarter stood at ₹109.73 crore, compared to ₹109.85 crore in the same period last year.
Recognized a one-time exceptional loss of ₹30.44 crore (consolidated) due to the statutory impact of new Labour Codes on gratuity and leave encashment.
Increased stake in Creamline Dairy Products Limited to 99.78% following a ₹708.58 crore acquisition.
Shareholding in Astec LifeSciences Limited increased to 67.03% from 64.75% after participating in a rights issue.
💼 Action for Investors
Investors should view the flat profit growth as a temporary outcome of non-recurring exceptional items related to regulatory labor law changes. The long-term focus should be on the company's successful consolidation of its dairy and poultry subsidiaries, which may lead to better operational synergies.
Godrej Agrovet Q3 FY26: Revenue Grows 11% YoY to ₹2,718 Cr; PAT Flat at ₹110 Cr
Godrej Agrovet reported a steady 11% YoY growth in consolidated revenue, reaching ₹2,718.32 crore for Q3 FY26. Consolidated net profit remained nearly flat at ₹109.73 crore compared to ₹109.85 crore in the previous year, largely due to a one-time exceptional charge of ₹30.44 crore related to the implementation of new Labour Codes. The company has strengthened its portfolio by increasing its stake in Creamline Dairy to 99.78% and Astec LifeSciences to 67.03%. Operational performance remains resilient despite the statutory impact on the bottom line.
Key Highlights
Consolidated Revenue from Operations increased 11% YoY to ₹2,718.32 crore in Q3 FY26.
Consolidated PAT stood at ₹109.73 crore, including a ₹30.44 crore exceptional item for new Labour Code provisions.
Nine-month consolidated revenue reached ₹7,900.03 crore, up from ₹7,249.13 crore YoY.
Company increased stake in Creamline Dairy Products Limited to 99.78% and Astec LifeSciences to 67.03%.
Standalone PAT for the quarter was ₹115.56 crore, down from ₹166.17 crore in the previous year's quarter.
💼 Action for Investors
Investors should focus on the underlying revenue growth and the impact of increased ownership in subsidiaries, while treating the PAT stagnation as a result of a non-recurring statutory charge. Monitor the margin performance in the dairy and life sciences segments as the company consolidates these holdings.
Godrej Agrovet Subsidiary to Invest INR 150 Crore in New Telangana Dairy Facility
Godrej Agrovet's material subsidiary, Creamline Dairy Products (Godrej Jersey), has signed an MoU with the Government of Telangana to establish a state-of-the-art dairy processing plant. The company will invest INR 150 crore in this 40-acre facility, which is expected to create over 300 direct jobs within three years. This investment is part of a larger INR 10,000 crore commitment by the Godrej Industries Group in the state. The move aims to capitalize on the double-digit growth in value-added dairy products and address rising consumer demand for protein-rich nutrition.
Key Highlights
INR 150 crore investment for a new dairy processing facility on a 40-acre plot in Telangana.
Expected to generate over 300 direct employment opportunities over a three-year period.
Strategic focus on high-growth value-added dairy products to meet evolving nutritional needs.
Part of Godrej Industries Group's broader plan to invest over INR 10,000 crore in Telangana across multiple sectors.
Strengthens the 'Godrej Jersey' brand presence in Southern India, leveraging nearly three decades of expertise.
💼 Action for Investors
Investors should view this as a positive growth driver for the dairy segment, which is shifting toward higher-margin value-added products. Monitor the execution timeline and the subsequent impact on the subsidiary's revenue contribution to the consolidated entity.