Godrej Agrovet Limited delivered a landmark financial performance in FY 2025-26, crossing the ₹10,000 Crore consolidated revenue milestone for the first time, reporting revenue from operations of ₹10,233 Crore. The company also achieved its highest-ever profitability, with Profit Before Tax increasing 20% to ₹602 Crore in FY 2025-26 from ₹500 Crore in FY 2024-25, and Profit After Tax standing at ₹445 Crore compared to ₹403 Crore in the previous year. The Annual Report for FY 2025-26 was filed with the stock exchanges on July 10, 2026, along with the Notice of the 35th Annual General Meeting ("35th AGM") scheduled for Wednesday, August 5, 2026 at 4.00 p.m. (IST) via Video Conferencing ("VC") / Other Audio Visual Means ("OAVM").

Consolidated Financial Performance

The company's consolidated financials for FY 2025-26 reflect broad-based growth across income, profitability, and capital efficiency metrics. The following table summarises the key consolidated financial highlights:

*Excluding non-recurring & exceptional items

The key financial ratios for consolidated financials are presented below:

Return on Capital Employed (ROCE) improved from 16% in FY 2024-25 to 20% in FY 2025-26. Average working capital days were reduced to 25 days in FY 2025-26 from 39 days in FY 2024-25, reflecting disciplined credit management and inventory optimisation.

Segment-Wise Business Performance

The Animal Nutrition business remained the largest revenue contributor, delivering approximately 12% volume growth and 19% year-on-year growth in profitability, supported by moderation in key raw material prices and operational efficiencies. New product launches during the year included Dhanalaxmi G, a premium cattle feed, and Bypro Plus, an enhanced protein formulation.

The Oil Palm business was a standout performer, with segment profitability growing 68% year-on-year, driven by higher Fresh Fruit Bunch (FFB) arrivals, improved oil extraction ratio, and higher realisations for crude palm oil and palm kernel oil. The Samadhan centre network was expanded to 24 centres during the year, including 5 new centres in the North East. Work on the Palm Kernel Oil (PKO) refinery is progressing, with the facility expected to commence operations in FY 2026-27.

The Crop Care business operated in a challenging environment due to adverse weather conditions and regulatory disruptions, though the company made strategic inroads into maize and paddy crop segments with new product launches including Ashitaka (herbicide for maize) and Takai (insecticide for paddy). Subsidiary Astec LifeSciences Limited achieved EBITDA break-even for FY 2025-26, a meaningful turnaround from the losses reported in FY 2024-25, with consolidated total income of ₹453.21 Crore compared to ₹386.93 Crore in the previous year.

The Dairy business (Creamline Dairy Products Limited) recorded a Profit Before Exceptional Items and Tax of ₹13.86 Crore in FY 2025-26 versus ₹27.85 Crore in FY 2024-25, impacted by elevated milk procurement costs and unseasonal rainfall in the first half of the year. Godrej Foods Limited recorded a Profit Before Exceptional Items and Tax of ₹27.62 Crore versus ₹26.18 Crore in the previous year.

Dividend and AGM Details

The Board of Directors has recommended a Final Dividend at the rate of 110% (₹11 per equity share of face value ₹10) for FY 2025-26, subject to shareholder approval at the 35th AGM. Key dates are summarised below:

The 35th AGM agenda includes adoption of audited financial statements, declaration of final dividend, re-appointment of Ms. Nisaba Godrej and Mr. Pirojsha Godrej as directors liable to retire by rotation, ratification of remuneration of Cost Auditors M/s. R. Nanabhoy & Co. at ₹1,75,000/- (Rupees One Lakh and Seventy Five Thousand Only) plus applicable taxes for FY 2026-27, and approval of remuneration of Mr. Burjis Godrej as "Chairperson & Executive Director" effective from August 14, 2026.

Corporate Governance and Board Changes

During FY 2025-26, Mr. Balram Singh Yadav ceased to be Managing Director due to superannuation effective August 31, 2025, and Mr. Sunil Kataria was appointed as Chief Executive Officer & Managing Director for a term of 5 consecutive years effective September 1, 2025 to August 31, 2030. Mr. Nadir Godrej has expressed willingness to retire as Chairman effective August 13, 2026, and Mr. Burjis Godrej has been approved as Chairperson of the Board effective August 14, 2026. The company's Board comprises 12 Directors as on March 31, 2026, including 6 Independent Directors, of whom 4 are women.

Sustainability and CSR Highlights

Godrej Agrovet increased its renewable energy share to 78% of total energy consumption in FY 2025-26, progressing towards its 90% target. The company sequestered 29,750 MT of CO₂ and achieved approximately 12% reduction in Scope 1 and Scope 2 greenhouse gas emissions during the year. The company retained its "A-" leadership band rating from the Climate Disclosure Project (CDP) for both Climate and Forest disclosures for the second consecutive year.

On the CSR front, the company was required to spend ₹8.87 Crore (including unspent CSR funds of ₹0.21 Crore from FY 2024-25) during FY 2025-26, with actual spending of ₹7.87 Crore. The unspent CSR amount of ₹1 Crore was transferred to the Godrej Agrovet Limited Unspent CSR Funds Account. Key CSR outcomes included:

• Positive impact on livelihoods of over 14,000 dairy farmer households
• Training of more than 16,000 students in modern agriculture techniques across 221 schools
• Enabling over ₹1,000 Crore of insurance coverage for cotton farmers through government social security schemes
• 276 women trained under the Disha Programme (School of Sales)
• ₹18.11 Crore in Government support unlocked for bamboo cultivation under the National Bamboo Mission

The company also successfully completed the go-live of SAP S/4HANA Wave 1 as part of its digital transformation journey, with Wave 2 targeted for completion in FY 2026-27.

Godrej Agrovet Limited filed its Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26 with the stock exchanges. The report outlines the company's performance against the National Guidelines on Responsible Business Conduct (NGRBC) and details material issues such as water stewardship and energy management. The disclosures have been made on a standalone basis for the company.

Environmental Performance

The company reported a total energy consumption of 2,410,913,779 MJ for the financial year, with 90.2% sourced from renewable avenues. Total Scope 1 emissions were recorded at 2,410 tCO2e, while Scope 2 emissions stood at 39,897 tCO2e. The combined emission intensity per rupee of turnover was 0.00000055 tCO2e/INR. Water consumption for the year totaled 865,318 kilolitres, with an intensity of 0.000011 KL/INR.

Key Environmental Metrics

Social and Governance Disclosures

The company reported a workforce of 6,981 individuals, comprising 2,880 employees and 4,101 workers. Women represented 13% of the total workforce and 50% of the Board of Directors. The report highlighted zero fines or penalties for non-compliance with regulations during the year. Intertek India Pvt. Ltd. provided reasonable assurance for the BRSR Core disclosures, confirming the data's alignment with SEBI guidelines.

Material Issues and Strategy

Godrej Agrovet identified water stewardship as a material risk and energy management as an opportunity. The company has committed to a reduction in Scope 1 and 2 greenhouse gas emissions by 37.5% by FY 2034-35. It aims to source 90% of its total energy consumption from renewable sources through solar PV panels and green power procurement.