Q4 2024 Godrej Agrovet Ltd Earnings Call Transcript
Key Points
- Godrej Agrovet Ltd (BOM:540743) recorded consolidated revenue from operations of INR9,561 crore in fiscal year '24, a slight increase from INR9,374 crore in fiscal year '23.
- Profit before tax improved by 55% to INR434 crore compared to INR280 crore in fiscal year '23, driven by strong performance in the domestic crop protection business and structural turnaround of the dairy business.
- The company achieved significant market share gains in Animal Feed and robust volumes and margin growth in branded products in the Poultry business.
- Godrej Agrovet Ltd (BOM:540743) made substantial progress towards sustainability targets, with 77% of energy consumption from renewable sources and being a water-positive company.
- The standalone crop protection segment witnessed strong growth, with a top-line increase of 37% and a segment margin of 31% for fiscal year '24.
- Vegetable Oil segment margins were adversely impacted by lower fresh fruit bunch arrival and lower sales volume due to lower inventory of palm kernel oil.
- Fresh fruit bunch volume growth of 6% was offset by lower crude palm oil and palm kernel oil prices, resulting in lower segment margins.
- Astec LifeSciences' full-year top line and segment margin were severely impacted by sluggish demand for key enterprise products and a sharp drop in realizations.
- The Poultry segment saw a decline in revenues due to lower volumes in the live bird business, despite strong growth in profitability.
- Unallocable expenses within the segment financials increased significantly, partly due to the absence of land sale income that was netted off in the previous year.
Ladies and gentlemen, good day, and welcome to the Godrej Agrovet Limited 4Q FY24 earnings conference call hosted by Kotak Securities. (Operator instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Abhijit Akella from Kotak Securities. Thank you, and over to you, sir.
Thank you, Darwin. Good afternoon, everyone, and thank you for joining us on the Godrej Agrovet Q4 and FY24 earnings conference call. From the company, we have with us Mr. Nadir Godrej, Chairman of the company; Mr. Balram S. Yadav, Managing Director; Mr. S. Varadaraj, Chief Financial Officer; and Mr. Anurag Roy, Chief Executive Officer of Astec LifeSciences.
We'd like to begin the call with brief opening remarks from the management, following which we will have the forum open for an interactive question and answer session. Before we start, I would like to point out that some statements made in today's call may be forward-looking, and a disclaimer to this effect has been included in the
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