Venky's (India) rose 3.12% to Rs 1,690.70 after the company's standalone net profit stood at Rs 77.90 crore in Q4 FY21 compared with net loss of Rs 96.73 crore in Q4 FY20.
On a consolidated basis, Net sales surged 42.44% to Rs 941.35 crore in Q4 FY21 from Rs 660.86 crore in Q4 FY20. Pre-tax profit stood at 106.51 crore in Q4 FY21 as against pre-tax loss of Rs 129.14 crore in Q4 FY20. The board has recommended a dividend of Rs 17 per share.
The improved financial performance was seen in the nine months ended 31 December 2020 and has further continued till the quarter ended 31 March 2021 as well, even after the company witnessed some negative impact in January 2021 due to outbreak of bird flu. Maize prices have been steady throughout the quarter and the outlook appears to be stable. Soya de-oiled cake prices have hit the all time high, thereby increased the input costs.
On a standalone basis, revenues from poultry and poultry products grew 31.78% to Rs 391.02 crore in Q4 March 2021 over Q4 March 2020. During the quarter, the poultry and poultry products segment witnessed better realizations from the sale of day old chicks and grown up broilers.
Revenues from animal health products jumped 32.86% to Rs 68.60 crore in Q4 FY21 over Q4 FY20. Oilseeds revenues surged 52.09% to Rs 515.63 crore in Q4 FY2021 over Q4 FY2020.
The company has reduced volatility of its business portfolio through diversification into soya processing; Hi-tech research-based production of SPF eggs [SPF eggs are supplied to various vaccine manufacturers - both animal vaccines and human vaccines]; Animal Health Products; Processed chicken products; and Poultry Feed.
For the financial year ended 31 March 2021, the combined sales turnover of non-volatile or less volatile manufacturing activities was approx. Rs 2,000 crore, i.e. 67% of the total sales turnover of the company. The remaining 33% of sales i.e. Rs 1,116 crore came from sale of broiler day old chicks, layer day old chicks, broiler hatching eggs and grown up broiler birds.
Venky's (India) is a well-diversified company engaged in various manufacturing activities in the poultry industry.
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