Godrej Agrovet Ltd Q1 FY26 Results

Godrej Agrovet Limited reported strong financial performance for Q1 FY26 with notable growth in revenues, profitability, and operational efficiencies. The growth in profitability was mainly driven by robust volumes & improved operational efficiencies in the Vegetable Oils business supported by significant reduction in losses in Astec Lifesciences. In the Animal Feed business, while overall volume growth was a healthy 8%, segment revenue & underlying margins were flat due to lower realizations. In the domestic Crop Protection business, the segment revenue grew marginally by 5% and segment margins were similar year-on-year due to lower net realizations in respect of in-house & in-licensing categories. In our Dairy business, early rains and higher milk procurement prices impacted profitability while segment revenue was flat. In our Poultry & Processed foods business, revenues declined primarily due to lower volumes in live bird category which is in line with our strategy to reduce salience in this category & profitability was impacted due to muted realizations in live bird category. While the branded revenues were flat, contribution margins improved year-on-year. Astec LifeSciences reported a growth in revenue of ~ 31% on account of higher volumes in both Enterprise & CDMO categories. EBITDA losses reduced significantly primarily on account of lower raw material costs and higher volumes.