For the full year ended March 31, 2020, company reported consolidated total income of Rs.6, 876.2 crore which reflects year-on-year growth of 15.7%.
Godrej Agrovet Limited has reported its financial performance for the fourth quarter and full year ended March 31, 2020 .For the fourth quarter ended March 31, 2020, company reported consolidated total income of Rs.1,508.9 crore which reflects year-on-year growth of 7.5 per cent. Profit before tax (excluding non-recurring and exceptional items) was Rs.17.9 crore compared to Rs.53.8 crore reported during the same period in the previous year
For the full year ended March 31, 2020, company reported consolidated total income of Rs.6, 876.2 crore which reflects year-on-year growth of 15.7 per cent. Profit before tax (excluding non-recurring and exceptional items) was Rs 280.5 crore, compared to Rs.361.4 crore reported during the same period in the previous year.
(1) For the fourth quarter and full year ended March 2020 total income excludes Rs.134.7crore, EBITDA and PBT excludes Rs.78.1crore and PAT excludes Rs.61.7crore of non-recurring income pertaining to sale of real estate project
(2) Consolidated results of the fourth quarter and full year ended March 2020 include financials of Godrej Tyson Foods Limited and Godrej Maximilk Private Limited which became subsidiaries on 27th March 2019. Consequently, the consolidated results for current quarter and full year are not comparable with the corresponding previous periods.
Total income, EBITDA and PBT for full year FY19 excludes Rs.29.9 crore and PAT excludes Rs.23.0 crore of non-recurring income pertaining to profit earned on sale of land (net of expenses). (2) Total income, EBITDA and PBT for 4QFY19 and full year FY19 also excludes Rs.2.3 crore and PAT excludes Rs.1.5 crore of non-recurring loss incurred on sale of land in CDPL; (3) Financials exclude exceptional items.
Commenting on the performance of the 4QFY20 and FY20, B. S. Yadav, Managing Director, Godrej Agrovet Limited, said, “Godrej Agrovet Limited’s reported consolidated total income of Rs.6876 crore for the financial year 2019-20 registered year-on-year growth of 15.7 per cent. Consolidated profit before tax (excluding non-recurring and exceptional items) was Rs.281 crore compared to Rs.361 crore reported in previous year”.
Our performance had started showing good recovery in the beginning of the fourth quarter, especially in the businesses which were impacted in the first nine months of the year. This was because output prices were improving and input prices started trending downward. However, in beginning of February 2020, false rumour of coronavirus infection through poultry and its products significantly impacted volume, prices and thereby the profitability in our two businesses – animal feed and Godrej Tyson. Further, outbreak of COVID-19 in mid-March 2020 in India affected sales in other segments also. This adversely impacted the performance of the fourth quarter. However, on the positive side, performance in Astec, oil palm plantation and aqua feed was strong which supported the quarterly performance. For the full year, while animal feed and Astec posted strong growth compared to previous year, food businesses and oil palm plantation were impacted by low output prices and high costs. Performance of the crop protection in the standalone business was also modest during the year.
