How did Godrej Agrovet put up a show in the fourth quarter of FY22?
Answer
Answer
For Q4FY22, Godrej Agrovet reported 42.3% growth in sales at Rs2,080.75 crore. Full year FY22 sales were up 32.5% at Rs8,306 crore. In the quarter, the top line growth was evident across all the verticals including animal feeds, vegetable oils, crop protection, dairy and poultry. Godrej Agrovet has declared dividend of Rs.9.50 per share. Net cash from operations dipped further into the red on spike in inventory and receivables lock-in.
Godrej Agrovet
Rs in Crore
Mar-22
Mar-21
YOY
Dec-21
QOQ
Total Income (Rs cr)
₹ 2,080.75
₹ 1,462.48
42.28%
₹ 2,078.49
0.11%
Net Profit (Rs cr)
₹ 122.29
₹ 56.59
116.10%
₹ 65.06
87.96%
Diluted EPS (Rs)
₹ 6.36
₹ 2.95
₹ 3.38
Net Margins
5.88%
3.87%
3.13%
Net profit were surprisingly higher by 116.1% at Rs122.29 crore for Q4FY22. The higher profits also resulted in improved interest service coverage and the debt service coverage. Crop protection and the vegetable oils business made the biggest contribution to operating profits. Net margins stood at 5.88% in Q4FY22 quarter compared to 3.87% in Q4FY21. Even on a sequential basis, the NPM was higher compared to 3.13% in the third quarter.