Godrej Agrovet Q2 FY27 Results: Consolidated Net Profit ₹103 Crore on Total Income of ₹3,017 Crore
- Earnings
- Agribusiness
Reviewed byKeshav SehgalBlacklitt Research
Godrej Agrovet (NSE: GODREJAGRO) reported consolidated total income of ₹3,016.78 crore and consolidated net profit of ₹102.75 crore for the quarter ended 30 Sep 2026, it said in a filing on 06 Nov 2026. Standalone total income was ₹2,416.62 crore and standalone net profit ₹132.59 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹3,016.78 crore, up 17.1% YoY and 5.1% QoQ
- Net profit: ₹102.75 crore, up 21.8% YoY and down 19.9% QoQ
- EPS: ₹5.99 basic, against ₹4.81 a year earlier
- Finance costs: ₹33.10 crore, down 16.3% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹2,416.62 crore, up 15.7% YoY and 6.5% QoQ
- Net profit: ₹132.59 crore, down 25.1% YoY and 27.8% QoQ
- EPS: ₹6.89 basic, against ₹9.21 a year earlier
- Other income: ₹20.31 crore, down 77.3% YoY from ₹89.57 crore
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 3,016.78 | 2,575.20 | +17.1% | 2,869.99 | +5.1% | |
| Revenue from operations | 2,994.98 | 2,567.42 | +16.7% | 2,855.22 | +4.9% |
| Other income | 21.80 | 7.78 | +180.2% | 14.77 | +47.6% |
| 102.75 | 84.34 | +21.8% | 128.31 | -19.9% | |
| Profit before tax | 143.24 | 135.06 | +6.1% | 181.13 | -20.9% |
| Finance costs | 33.10 | 39.55 | -16.3% | 29.79 | +11.1% |
| Depreciation | 57.74 | 57.05 | +1.2% | 56.66 | +1.9% |
| Tax expense | 40.49 | 50.72 | -20.2% | 52.82 | -23.3% |
| Net profit margin | 3.41% | 3.28% | +0.13 pp | 4.47% | -1.06 pp |
| EPS, basic (₹) | 5.99 | 4.81 | +24.5% | 6.99 | -14.3% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit rose 21.8% to ₹102.75 crore, faster than total income, which rose 17.1%. Profit before tax grew only 6.1%, and tax expense fell 20.2% to ₹40.49 crore, which is 28.3% of profit before tax.
Other income of ₹21.80 crore is 15.2% of profit before tax of ₹143.24 crore, up from ₹7.78 crore a year earlier. Revenue from operations rose 16.7% to ₹2,994.98 crore, slower than other income's 180.2% rise, but from a much larger base. Finance costs fell to ₹33.10 crore from ₹39.55 crore, about 1.1% of total income.
Quarter on quarter, consolidated net profit fell 19.9% while total income rose 5.1%.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 2,416.62 | 2,089.30 | +15.7% | 2,269.10 | +6.5% | |
| Revenue from operations | 2,396.31 | 1,999.73 | +19.8% | 2,205.39 | +8.7% |
| Other income | 20.31 | 89.57 | -77.3% | 63.71 | -68.1% |
| 132.59 | 177.07 | -25.1% | 183.60 | -27.8% | |
| Profit before tax | 174.92 | 226.14 | -22.6% | 242.22 | -27.8% |
| Finance costs | 22.08 | 26.61 | -17.0% | 17.67 | +25.0% |
| Depreciation | 32.06 | 32.44 | -1.2% | 31.43 | +2.0% |
| Tax expense | 42.33 | 49.07 | -13.7% | 58.62 | -27.8% |
| Net profit margin | 5.49% | 8.48% | -2.99 pp | 8.09% | -2.60 pp |
| EPS, basic (₹) | 6.89 | 9.21 | -25.2% | 9.55 | -27.9% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit fell 25.1% to ₹132.59 crore while total income rose 15.7%, so the standalone profit moved against the consolidated one. Profit before tax fell 22.6% to ₹174.92 crore. Revenue from operations rose 19.8% to ₹2,396.31 crore, but other income fell 77.3% from ₹89.57 crore to ₹20.31 crore.
The year-earlier standalone other income included a dividend from a joint venture of ₹70.49 crore and from subsidiaries of ₹12.41 crore, which the notes say is eliminated in the consolidated results. Standalone other income is 0.8% of total income this quarter and 11.6% of profit before tax, and standalone tax expense is 24.2% of profit before tax.
Standalone finance costs rose 25.0% from the June quarter to ₹22.08 crore, and standalone EPS fell 25.2% YoY to ₹6.89. The filing does not give the reason for the rise in finance costs.
Inference
The filing reports a dividend from a joint venture within standalone other income for the June quarter and the half year, and the consolidated results eliminate such dividends. The filing does not state any dividend declaration or record date for the period.
The Board noted limited review reports with unmodified opinions for both sets of results. Consolidated net worth stood at ₹2,188.90 crore as at 30 Sep 2026, against ₹1,949.46 crore a year earlier, and the consolidated gross debt equity ratio was 0.78.
The company holds 99.78% of Creamline Dairy Products Limited and is in the process of acquiring the balance 0.22%; the filing does not say when that will be completed. The reason for the decline in net profit in the quarter is not given in the filing.
Filed with BSE on . Reference: Original filing (PDF)
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