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earnings | IST

Godrej Agrovet expects market share to continue to rise

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Godrej Agrovet reported earnings for June-ended quarter. Revenue has gone up around 30 percent but margin has contracted for the company. Further while the animal feed business saw strong volumes, the aqua business was weak. Balram Yadav, Managing Director of Godrej Agrovet discussed the earnings fineprint.

Godrej Agrovet’s revenue went up around 30 percent for the June-ended quarter. However, the company’s margin contracted. Moreover, while the animal feed business saw strong volumes, the aqua business was weak.
Balram Yadav, Managing Director of Godrej Agrovet, discussed the earnings fineprint with CNBC-TV18.
“The market share will keep on improving. The momentum is very good for us. Even though the market has shrunk, the animal protein industry is largely dependent on out-of-home consumption, which is almost negligible right now. Of course it is picking up but definitely market is nowhere near the FY20 levels, it is 20-25 percent lower than that,” he said.
Meanwhile, Yadav was confident that profitability in the crop protection business will remain intact. “Aqua feed profitability will improve. For crop protection business, organic growth is 7-8 percent. Most of our growth comes from new product launches and in the second half of the year, one more product will be launched,” he said, adding that several other products are in the pipeline over the next three to five years.
For the full interview, watch the accompanying video.