Godrej Agrovet Limited (GAVL) has announced its financial results for the fourth quarter and full year ended March 31, 2024, showcasing impressive growth and profitability across its segments.In the fourth quarter of FY24, GAVL reported consolidated revenues from operations of Rs. 2,134 crore, marking a significant increase from Rs. 2,095 crore in Q4 FY23. The company’s consolidated EBITDA (excluding non-recurring & exceptional items) stood at Rs. 164 crore, compared to Rs. 76 crore in the same period last year. Profit before tax (excluding non-recurring & exceptional items) saw a remarkable surge to Rs. 83 crore from Rs. 2 crore in Q4 FY23.
For the full fiscal year 2023-24, GAVL witnessed a commendable growth trajectory with consolidated revenues from operations reaching Rs. 9,561 crore, up from Rs. 9,374 crore in FY23. The company’s consolidated EBITDA for FY24 stood at Rs. 757 crore, compared to Rs. 564 crore in the previous fiscal. Profit before tax (excluding non-recurring & exceptional items) soared to Rs. 434 crore, up from Rs. 280 crore in FY23. Mr. B. S. Yadav, Managing Director of Godrej Agrovet Limited, attributed this impressive performance to various factors including the exceptional performance of the domestic crop protection business, structural turnaround of the dairy business, and market share gains in animal feed.GAVL’s focus on achieving long-term sustainability targets has also been highlighted, with significant progress made in areas such as energy consumption from renewable sources and water conservation.
Segment-wise, the animal feed business saw sustained growth in volumes, particularly in cattle feed and fish feed categories. The dairy business achieved a structural turnaround in profitability, while the crop protection segment witnessed strong growth throughout the year.Godrej Tyson Foods Limited (GTFL) reported improved profitability driven by higher live bird prices and an increase in the volume of branded products.