Godrej Agrovet Limited · NSE:GODREJAGRO
Godrej Agrovet — Q3 FY24 Earnings Presentation
23 slides from Godrej Agrovet's earnings presentation, Feb 1, 2024
Slide 1: Exchange filing cover letter: Presentation to Investors & Analysts
Date: February 1, 2024 To, To, BSE Limited National Stock Exchange of India Limited P. J. Towers, Dalal Street, Exchange Plaza, Bandra - Kurla Complex, Fort, Mumbai – 400 001 Bandra (East), Mumbai-400 051 Ref.: BSE Scrip Code No. “540743” Ref.: “GODREJAGRO” Sub: Presentation to Investors & Analysts
Slide 2: Q3 & 9M FY24 Performance Update
GODREJ AGROVET LIMITED Q3 & 9M FY24 PERFORMANCE UPDATE 1 I Godrej Agrovet
Slide 3: Disclaimer
DISCLAIMER Some of the statements in this communication may be forward looking statements within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the Company’s operations include change
Slide 4: Performance Highlights
PERFORMANCE HIGHLIGHTS 3 I Godrej Agrovet
Slide 5: Key Highlights – 9M FY24
KEY HIGHLIGHTS – 9M FY24 EBITDA Growth +21% PAT Growth +33% Crop Protection Business +49% Topline growth Dairy – Excellent Turnaround In-licensed volume +104% EBIT Margin 31% EBITDA ₹ 37 Cr + ₹ 49 Cr VAP Salience 36% Godrej Tyson +1.7x EBITDA growth Animal Feed – Sustained volume growth Cattlefeed &
Slide 6: Consolidated Financials – Key Highlights
CONSOLIDATED FINANCIALS – KEY HIGHLIGHTS Financial Highlights (Rs. Crore unless Stated) Q3 FY24 Q3 FY23 Growth 9M FY24 9M FY23 Growth Revenues 2,345 2,324 0.9% 7,426 7,279 2.0% Earnings before interest, tax and 171 160 6.9% 592 488 21.3% Depreciation (EBITDA) * EBITDA Margin (%) 7.3% 6.9% 8.0% 6.7%
Slide 7: 9M FY24 Segment-wise Revenue and PBIT
9M FY24 SEGMENT-WISE REVENUE AND PBIT Segment revenues (1) – 9M FY24 Segment results (2) – 9M FY24 Others, -1.8% Poultry & processed Others, 1.0% Poultry & processed food, 9.8% food, 6.5% Dairy, 2.0% Animal Feed, Animal Feed, Dairy, 15.0% 48.6% 30.7% Crop Protection, 31.9% Crop Protection, 12.5% Veg
Slide 8: Segment-wise Performance Update
SEGMENT-WISE PERFORMANCE UPDATE 7 I Godrej Agrovet
Slide 9: Animal Feed
ANIMAL FEED Leading compound feed play across Cattle (Milk), Broiler, Layer, Fish and Shrimp feed in India Particulars Q3 FY24 Q3 FY23 Growth 9M FY24 9M FY23 Growth Sales Volume (tons) 3,90,472 3,83,712 +1.8% 11,37,398 10,93,629 +4.0% Segment Revenue (Cr) 1,291 1,272 +1.5% 3,818 3,739 +2.1% Segment
Slide 10: Vegetable Oil
VEGETABLE OIL Largest domestic producer of Crude Palm oil and Palm Kernel Oil Particulars Q3 FY24 Q3 FY23 Growth 9M FY24 9M FY23 Growth CPO Realisations (₹ per MT) 76,186 83,456 -8.7% 78,333 1,00,484 -22.0% PKO Realisations (₹ per MT) 1,00,630 1,14,522 -12.1% 1,01,701 1,50,868 -32.6% Segment Revenue
Slide 11: Crop Protection Business
CROP PROTECTION BUSINESS Agrochemical products catering to the entire crop lifecycles Particulars Q3 FY24 Q3 FY23 Growth 9M FY24 9M FY23 Growth Segment Revenue (Cr) 172 99 +72.9% 696 468 +48.7% Segment Result (Cr) 52 3 15.3 x 214 60 +253.0% Segment Margin (%) 30.1% 3.4% 30.7% 12.9% • Standalone Crop
Slide 12: Astec LifeSciences
ASTEC LIFESCIENCES Manufactures a wide range of agrochemical active ingredients Particulars Q3 FY24 Q3 FY23 Growth 9M FY24 9M FY23 Growth Revenues (Cr) 51 117 -56.7% 304 501 -39.3% EBITDA (Cr) -17 16 NM -15 81 NM EBITDA Margin (%) NM 13.6% NM 16.2% • Sustained weakness in key enterprise products imp
Slide 13: Creamline Dairy
CREAMLINE DAIRY Private dairy player in Southern India with a wide range of product portfolio Particulars Q3 FY24 Q3 FY23 Growth 9M FY24 9M FY23 Growth Revenues (Cr) 366 348 +5.3% 1,181 1,102 +7.1% EBITDA (Cr) 19 -5 NM 37 -12 NM EBITDA Margin (%) 5.2% -1.6% 3.2% -1.1% • Dairy business achieved robus
Slide 14: Godrej Tyson Foods Limited; Joint Venture ACI Godrej Agrovet
GODREJ TYSON FOODS LIMITED Particulars Q3 FY24 Q3 FY23 Growth 9M FY24 9M FY23 Growth Revenues (Cr) 223 280 -20.5% 770 757 +1.7% EBITDA* (Cr) 2 18 -89.2% 55 33 +65.7% EBITDA Margin (%) 0.9% 6.3% 7.1% 4.4% • GTFL’s revenues and profitability were impacted by sharp drop in live bird prices on account o
Slide 15: ESG Update
ESG UPDATE 14 I Godrej Agrovet
Slide 16: Our ESG Initiatives Continued to Generate Meaningful Impact
OUR ESG INITIATIVES CONTINUED TO GENERATE MEANINGFUL IMPACT 79% 20x GAVL’s Renewable energy portfolio Water conservation ✓ Installed Solar rooftops at 20+ manufacturing sites ✓ A water positive company; 30 million m3 water sequestered # ✓ Vegetable Oil business’ renewable energy portfolio ~99.8% of
Slide 17: Ambitious Global Commitments & Affiliations
AMBITIOUS GLOBAL COMMITMENTS & AFFILIATIONS ▪ Member of the World Business ▪ Committed to the global Science Council for Sustainable ▪ Signatories to the global EP100 Based Targets initiative (SBTi) to Development framework created by the Climate reduce our emissions in line with ▪ Signatories to th
Slide 18: Strong Commitment to CSR
STRONG COMMITMENT TO CSR Grameen Vikas: Brighter Farming ✓ 196 farmers were trained on Bee Hotels management to improve red gram yield ✓ 6,268 animals covered in vet camps with savings of ₹ 500 per animal for 1,717 farmers ✓ 15,315 farmers benefitted from Dairy/poultry management training & awarenes
Slide 19: Annexures
ANNEXURES 18 I Godrej Agrovet
Slide 20: Non-Recurring & Exceptional Items
NON-RECURRING & EXCEPTIONAL ITEMS EBITDA PBT PAT Consolidated (Rs. Crore) Q3 FY24 Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 Q3 FY23 REPORTED 167 215 89 143 83 115 (Profit) / loss on sale of land (net of expenses) - (68) - (68) - (58) Long-term incentives provision - 13 - 13 - 10 Differential VAT Liability 5 -
Slide 21: Shareholding Pattern as of December 31, 2023
SHAREHOLDING PATTERN AS OF DECEMBER 31, 2023 FII Major Investors 9.4% DII 6.8% ➢ Temasek ➢ LIC of India ➢ Nippon Mutual Fund Others ➢ Vanguard 9.8% ➢ Kotak Mutual Fund ➢ DSP ➢ WisdomTree ➢ Government Pension Fund Global ➢ LIC Mutual Fund Promoters ➢ ICICI Prudential Mutual Fund 74.0% 20 I Godrej Agr
Slide 22: Contact Us
CONTACT US To know more, visit us at: www.godrejagrovet.com S Varadaraj Aditya Desai Email: s.varadaraj@godrejagrovet.com Email: aditya.desai@godrejagrovet.com gavlinvestors@godrejagrovet.com gavlinvestors@godrejagrovet.com 21 I Godrej Agrovet
Slide 23: Thank You for Your Time and Consideration
THANK YOU FOR YOUR TIME AND CONSIDERATION 22 I Godrej Agrovet