11 November 2026, Mumbai: Godrej Agrovet Limited reported strong financial performance for the second quarter of FY2026-27, with consolidated revenue increasing 17% year-on-year to ₹2,995 crore, compared with ₹2,564 crore in the corresponding quarter last year. Profit after tax (PAT) rose 22% to ₹103 crore, while profit before tax (PBT) increased 5% to ₹131 crore.
The company announced its financial results for the quarter and half year ended September 30, 2026, highlighting growth across its Animal Nutrition, Oil Palm and B2C Foods businesses despite inflationary pressures and weather-related challenges.
EBITDA remained broadly flat at ₹222 crore compared with ₹221 crore in Q2 FY26. However, the EBITDA margin declined by 120 basis points to 7.4%, primarily due to higher input costs and the impact of El Niño-related weather conditions. Strong performance in Animal Nutrition helped offset profitability pressures in Crop Care, Dairy and Astec LifeSciences.
For the first half of FY27, consolidated revenue increased 13% to ₹5,847 crore. EBITDA declined 5% to ₹476 crore, while PBT and PAT decreased 4% and 1%, respectively, compared with the corresponding period last year.
Animal Nutrition and Oil Palm were the key growth drivers during the quarter, recording revenue increases of 14% and 28%, respectively.
The Animal Nutrition business benefited from higher realizations and volumes. Cattle feed volumes increased approximately 8%, while layer feed volumes grew 15%. Segment profit rose 32%, with margins improving by 90 basis points to 6.7%, supported by a favourable product mix and operational efficiencies.
The Oil Palm business recorded 28% revenue growth, driven by higher crude palm oil (CPO) and palm kernel oil (PKO) realizations, which increased 23% and 20%, respectively. Fresh fruit bunch volumes grew approximately 14%, reflecting the gradual maturation of plantation areas. However, lower oil extraction rates due to dry weather conditions partially offset the benefit of higher realizations.
Crop Care Revenue Rises 42% Amid Profitability Pressure
The Crop Care segment reported 42% revenue growth during Q2 FY27, although the increase was largely supported by a lower base. Profitability remained under pressure, declining 23% year-on-year due to weak cotton herbicide demand and an unfavourable product mix. Segment margins declined to 12.6%.
The company said its diversification strategy towards newer crop-care segments helped partially mitigate the decline. Its corn herbicide Ashitaka also continued to gain traction, with first-half sales reaching approximately six times the level recorded in the corresponding period last year.
Astec LifeSciences reported a 3% decline in quarterly revenue. Growth of approximately 15% in its contract development and manufacturing organisation (CDMO) business was offset by weaker demand in the enterprise segment. Lower enterprise volumes, reduced realizations and elevated input costs widened its EBITDA loss.
Dairy and Foods Businesses Report Growth
Creamline Dairy recorded 6% revenue growth, supported by calibrated pricing actions and higher sales of value-added products. These products accounted for approximately 49% of the portfolio during H1 FY27, compared with 44% in the previous year. However, EBITDA margins declined 340 basis points to 1.2%, reflecting higher milk procurement, packaging and logistics costs.
Godrej Foods reported 8% revenue growth, with its business-to-consumer (B2C) segment expanding approximately 50% year-on-year. B2C products accounted for around 38% of the portfolio, compared with 27% in the previous year. Adjusted EBITDA increased approximately 12%, while margins improved by 20 basis points to 5.8%.
The company’s Bangladesh joint venture, ACI-GAVL, also delivered strong performance, with revenue increasing 32%, supported by 21% volume growth across poultry, cattle and aquaculture businesses.
Godrej Agrovet Advances Strategic Transformation
Commenting on the performance, Sunil Kataria, CEO and Managing Director of Godrej Agrovet, said the company delivered strong results despite a challenging operating environment characterised by El Niño-related weather disruptions, geopolitical volatility and inflationary pressures.
He highlighted the company’s ongoing strategic transformation, including portfolio premiumisation in Animal Nutrition, expansion of plantation operations in Oil Palm, diversification in Crop Care and a stronger focus on B2C products in Foods.
In Oil Palm, the company is investing in plantation expansion and the commissioning of its Khammam complex, CPKO refinery and biogas plant. In Animal Nutrition, it has exited the shrimp business to focus on more profitable and scalable segments.
Kataria added that the company’s working capital management also improved, with the working capital cycle declining to 21 days in Q2 FY27 from 32 days in the corresponding quarter last year.
He said the company remains focused on advancing its transformation strategy and building sustainable long-term value as it enters the second half of FY27.
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