Interim report
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Godrej Agrovet Limited Registered Office - Godrej One , 3rd Floor , Pirojshanagar , Eastern Express Highway , Vikhroli ( East ) Mumbai - 400079 . India Tel : + 91-22-25188010 / 8020 / 8030 Fax : + 91-22-25195124 Email : gavlho@godrejagrovet.com Website : www.godrejagrovet.com CIN : L15410MH1991PLC135359 Date : August 5 , 2026 To , BSE Limited P. J. Towers , Dalal Street , Fort , Mumbai - 400001 Ref .: BSE Scrip Code No. " 540743 " To , National Stock Exchange of India Limited Exchange Plaza , Bandra - Kurla Complex , Bandra ( East ) , Mumbai - 400051 Ref .: " GODREJAGRO " Sub .: Outcome of the Board Meeting held on August 5 , 2026 Pursuant to Regulations 30 , 33 and 52 ( 4 ) of the Securities and Exchange Board of India ( Listing Obligations and Disclosure Requirements ) Regulations , 2015 ( “ Listing Regulations " ) read with Schedule Ill to the Listing Regulations , this is to inform you that the Board of Directors of the Company , at its Meeting held today , i.e. , on Wednesday , August 5 , 2026 ( which commenced at 1.45 p.m. and concluded at 3.14 p.m. ) , inter alia , has approved / noted the following : - A. APPROVAL OF THE UNAUDITED FINANCIAL RESULTS ( STANDALONE AND CONSOLIDATED ) FOR THE QUARTER ENDED JUNE 30 , 2026 : Upon recommendation of the Audit Committee , the Board of Directors has approved the Unaudited Financial Results ( Standalone & Consolidated ) for the Quarter ended June 30 , 2026. The same are enclosed herewith as Annexure - A . B. NOTING OF THE LIMITED REVIEW REPORTS ON THE UNAUDITED FINANCIAL RESULTS ( STANDALONE & CONSOLIDATED ) FOR THE QUARTER ENDED JUNE 30 , 2026 : Upon recommendation of the Audit Committee , the Board of Directors took note of the Limited Review Reports on the Unaudited Financial Results ( Standalone and Consolidated ) of the Company GODREJ AGROVET Godrej
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C. NOTING OF EARLY SUPERANNUATION OF MR. S. VARADARAJ AS THE “CHIEF FINANCIAL OFFICER & HEAD – FINANCE & LEGAL” OF THE COMPANY WITH EFFECT FROM CLOSE OF BUSINESS HOURS ON SEPTEMBER 30, 2026: The Board took note of the early superannuation from the employment of the Company of Mr. S. Varadaraj as the “Chief Financial Officer & Head – Finance & Legal” of the Company with effect from the close of business hours on September 30, 2026. A copy of the letter is enclosed herewith as Annexure-C. The requisite details are enclosed herewith as Annexure-D. D. APPROVAL OF APPOINTMENT OF MR. RAVISHANKAR A. AS THE “CHIEF FINANCIAL OFFICER – DESIGNATE” WITH EFFECT FROM SEPTEMBER 21, 2026 UPTO SEPTEMBER 30, 2026 AND AS THE CHIEF FINANCIAL OFFICER OF THE COMPANY WITH EFFECT FROM OCTOBER 1, 2026: Upon recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Ravishankar A. as the “Chief Financial Officer – Designate” with effect from September 21, 2026 upto September 30, 2026 and as the “Chief Financial Officer” of the Company with effect from October 1, 2026. The requisite details are enclosed herewith as Annexure-E. We request you to please take the above information on your records. Thanking you, Yours sincerely. For Godrej Agrovet Limited Vivek Raizada Head – Legal & Company Secretary & Compliance Officer (ACS 11787) Encl.: As above
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30-Jun-26 (Unaudited) 2,203.47 1.92 2,205.39 63.71 2 269.10 1,611.91 44.09 46.73 105.33 17.67 31.43 169.72 2,026.88 242.22 242.22 - 242.22 58.62 58.05 0.57 183.60 GODRE.JAGROVETLIMITED Corporate Identity Number: L15410MH1991PLC135359 Registered Office : Godrej One, 3rd Floor, Pirojshanagar, Eastern Express Highway, Vikhroli (East), Mumbai- 400079, Maharashtra, India Website: www.godrejagrovet.com, Tel no. :+91-22-2519 4416, Fax no. :+91-22-2519 5124, Email id: gavlinvestors@godrejagrovet.com STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 Standalone Consolidated Quarter Ended Year Ended Quarter Ended 31-Mar-26 30-Jun-25 31-Mar-26 Particulars 30-Jun-26 31-Mar-26 30-Jun-25 [Refer Note 10) (Unaudited) (Audited) (Unaudited) [Refer Note 101 (Unaudited) INCOME Revenue From Operations 1,661.47 1,996.81 7,722.47 Sales 2,852.20 2,322.97 2,603.32 6.24 9.75 21.51 Other operating revenue 3.02 9.68 10.97 1,667.71 2,006.56 7,743.98 Total Revenue From Operations 2,855.22 2,332.65 2,614.29 57.35 12.01 172.54 Other Income (Refer Note 2) 14.77 67.84 11.88 1,725.06 2,018.57 7,916.52 TOTAL INCOME 2,869.99 2 400.49 2,626.17 EXPENSES 1,316.01 1,396.64 5,791.53 Cost of materials consumed 2,055.51 1,684.18 1.746.43 61.30 43.63 167.29 Purchases of Stock-in-Trade 79.09 97.77 79.43 Changes in inventories of finished goods, Work-in- (34.90) 50.00 (16.73) progress, Stock under cultivation and 10.90 3.77 68.14 Stock-in-Trade 89.91 101.47 406.99 Employee benefits expense 162.33 145.71 159.25 16.39 20.07 86.30 Finance costs 29.79 28.55 35.49 31.87 32.16 128.10 Depreciation and amortisation expenses 56.66 58.04 57.88 130.07 155.93 623.26 Other exoenses 307.21 262.31 291.36 1,610.65 1,799.90 7,186.74 TOTAL EXPENSES 2,701.49 2,280.33 2,437.98 114.41 218.67 729.78 Profit before Exceptional items, Tax & Share of Profit 168.50 120.16 188.19 of Joint Ventures Share of profit of associates and joint ventures, net of tax 12.63 9.82 12.30 114.41 218.67 729.78 Profit Before Exceptional items and Tax 181.13 129.98 200.49 (32.96) - (53.42) Exceptional items (Refer Notes 8 & 9) - - - 81.45 218.67 676.36 PROFIT BEFORE TAX 181.13 129.98 200.49 16.71 49.78 150.10 Tax expense: 52.82 27.70 51.66 23.44 50.29 155.35 I. Current Tax (Refer Note 4) 58.18 25.65 50.94 (6.73) (0.51) (5.25) 2. Deferred Tax (Refer Note 4) (5.36) 2.05 0.72 64.74 168.89 526.26 PROFIT FOR THE PERIOD 128.31 102.28 148.83 (R~. in crore) Year Ended 31-i\lar-26 (Audited) 10.203.28 29.40 10,232.68 105.84 10.338.52 7,246.28 312.36 16.98 635.15 138.27 228.86 1.158.36 9,736.26 602.26 40.18 642.44 (30.44) 612.00 166.82 161.10 5.72 445.18 Annexure-A
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(Rs. in crore) Standalone Consolidated Quarter Ended Year Ended Quarter Ended Year Ended 30-Jun-26 31-Mar-26 30-Jun-25 31-Mar-26 Particulars 30-Jun-26 31-Mar-26 30-Jun-25 31-l\tar-26 (Unaudited) (Refer Note 10) (Unaudited) (Audited) (Unaudited) (Refer Note 101 (Unaudited) (Audited) OTHER COMPREHENSIVE INCOME 0.81 (3.14) 2.16 0.25 (A) (i) Items that will not be reclassified to profit or loss (0.15) (2.01) 1.71 1.39 0.14 0.27 (0.39) 0.55 Remeasurement of defined benefit liability (0.83) 1.15 (0.92) 1.41 0.67 (3.41) 2.55 (0.30) Fair value changes on equity investments 0.67 (3.41) 2.55 (0.30) throughOCI - - - Share of OCI in associates and joint ventures O.QI 0.25 0.08 0.28 - (net of tax) (0.20) 0.90 (0.54) (0.06) (ii) Income tax related to Items that will not be reclassified to profit or loss (0.17) 0.62 (0.40) (0.29) - - - - (B) (i) Items that will be reclassified to profit or loss 0.35 2.79 (0.20) (0.64) - - - - Foreign operations - foreign currency 0.35 2.79 (0.20) (0.64) translation differences (ii) Income tax related to items that will be - - - - - - -reclassified to profit or loss 0.61 (2.24) 1.62 0.19 TOT AL OTHER COMPREHENSIVE INCOME FOR THE PERIOD NET OF INCOME TAX 0.03 1.40 1.11 0.46 184.21 62.50 170.51 526.45 TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 128.34 103.68 149.94 445.64 192.36 192.33 192.33 192.33 Paid-up Equity share capital (Face Value Rs. 10 per share) 192.36 192.33 192.33 192.33 2,703.19 Other Equity 1,839.75 Profit for the period attributable to: a) Owners of the Company 134.50 104.85 160.52 472.78 b) Non-Controlling Interest (6.19) (2.57) (11.69) (27.60) Other Comprehensive Income Attributable to: a) Owners of the Company 0.03 1.33 1.09 0.31 b) Non-Controlling Interest - 0.07 0.02 0.15 Total Comprehensive Income Attributable to: a) Owners of the Company 134.53 106.18 161.61 473.09 b) Non-Controlling Interest (6.19) (2.50) (11.67) (27.45) Earnings per equity share of Rs. 10 each (non-annualized) 9.55 3.37 8.78 27.36 Basic (Rs.) 6.99 5.45 8.35 24.58 9.54 3.36 8.78 27.35 Diluted (Rs.) 6.99 5.45 8.35 24.57
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Notes: The ahovc Financial Results which arc published in accordance with Regulation 33 and 52 (4) of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements), Regulations, 2015, as amended, as prescribed in Securities and Exchange Board of India Operational Circular SEBI/HO/DDHS/P/CI R/2021 /6 I 3 dated I 0th August 2021. The ahovc results have hecn n:vicwed and recommended by the Audit Committee and approved by the Board of Directors at their meeting held on August 5, 2026. The Financial Results are in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act 2013 ("Act"), read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 (including any amendment(s) / modification(s) / re-enactment(s) thereto). The Financial Results have been subjected to limited review by the Statutory Auditors of the Company and they have expressed an unmodified review conclusion. 2 Other income in the Standalone financial results includes dividend from a joint venture of Rs. 49.7 crore for the quarter ended June 30, 2026 and dividend from a joint venture of Rs. 70.49 crorc and from subsidiaries of Rs. 12.41 crore for the financial year ended March 31, 2026. The same has been eliminated in the Consolidated financial results. Other income for the quarter and year ended March 3 I, 2026 includes profit on sale of land of Rs.33.48 crore. 3 The Company has issued and allotted 30,973 equity shares of Rs. IO each on April 30, 2026 pursuant to exercise of stock option in accordance with the Company's employee stock grant scheme, 2018. 4 During the quarter ended June 30, 2026, Godrej Foods Limited (a wholly owned subsidiary of the Company) has recognised deferred tax as per new tax regime adopted by the Company in terms of provision of Section I I 5BAA of the Income Tax Act, J 961. 5 Pursuant to the share purchase agreement with the Promoter Group of Creamline Dairy Products Limited, the Company had acquired the balance stake of 36. 79% equity stake during the quarter ended June 2025 for Rs. 708.58 crore in Creamline Dairy Products Limited. During the quarter ended 30th September, 2025, the Company further acquired stake of0.46% stake for Rs. 8.93 crore. As on June 30, 2026, the Company holds 99. 78% equity stake in Creamline Dairy Products Limited. The Company is in the process of acquiring the balance 0.22% stake. Accordingly, Profit attributable to Non-controlling interest are not comparable to that extent. 6 The Company had an investment in Omnivore Fund 1 in the form of units which was managed by Omnivore India Capital Trust. Omnivore India Capital Trust has informed the Securities and Exchange Board of India ("SEBI") on December 3, 2024 for winding up of Omnivore Capital I India ("Fund") and approval has been received from SEBI on June 12, 2025. 7 The Board of Directors of Astec LifeSciences Limited (Subsidiary Company) at its meeting held on June 30, 2025, has inter-alia, approved the Letter of Offer and Rights Issue of 28,01 ,673 (Twenty Eight Lakh One Thousand Six Hundred and Seventy Three) fully paid-up Equity Shares of face value of Rs. IO (Ten) each, for an aggregate amount not exceeding Rs. 249.35 Crore (Rupees Two Hundred and Forty-Nine Crore and Thirty Five Lakh Only) at the issue price of Rs. 890/- (Rupees Eight Hundred and Ninety Only) per share in the Rights Entitlement ratio of J (One) fully paid-up rights equity share for every 7 (Seven) fully paid up equity share, of face value Rs. 10 (Ten) each, held by the eligible equity shareholders of Astec LifeSciences Limited as on Record date, July 4, 2025. The Issue opened on Monday, July 14, 2025 and closed on Monday, July 28, 2025. Other terms of the Issue were included in the Letter of Offer for the Issue. Accordingly, Godrej Agrovet Limited had participated in the said Rights issue and equity shares have been allotted on July 29, 2025 aggregating Rs 199.01 crores. Consequent to the rights issue, the shareholding% in Astec LifeSciences Limited had increased to 67.03% as at March 31, 2026 from 64. 75% as at March 3 I, 2025. Accordingly, profit attributable to Non-controlling interest is not comparable to that extent. 8 On November 21, 2025, the Government of India notified four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Company/Group had assessed and disclosed the incremental impact of these changes on the basis of best information available, consistent with the guidance provided by the Institute of Chartered Accountants of India. Considering the materiality and regulatory-driven, non-recurring nature of this impact, the Company/Group had presented such incremental impact as "Statutory impact of new Labour Codes" under "Exceptional items" in the standalone and consolidated unaudited Financial Results for the year ended March 31, 2026. The incremental impact consisting of gratuity and leave encashment benefits of Rs. 20.46 crore {Standalone} and Rs. 30.44 crore {Consolidated} primarily arises due to change in wage definition. 9 During the quarter and year ended March 31, 2026, the Company had recognised an impairment provision in respect of investment in its wholly owned subsidiary Godrej Cattle Genetics Private Ltd. to the tune of Rs. 32.96 crore as the carrying value of the investment was higher than the recoverable value. It may be noted that this impairment was limited to the standalone financials and does not have any impact on the consolidated financial statements, as the underlying performance and valuation of the genetics business is appropriately reflected at the consolidated level. 10 The figures for the quarter ended March 31, 2026 is the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures upto nine m ~~~:-::!_~~t ,3 1 ;')2025 •• I, \
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GODREJ AGROVET LIMITED Corporate Identity Number: L15410MH1991PLC135359 Registered Office: Godrej One, 3rd Floor, Pirojshanagar, Eastern Express Highway, Vikhroli (East), Mumbai- 400079, Maharashtra, India Website: www .godrejagrovet.com, Tel no. : +91-22-2519 4416, Fax no. : +91-22-25 I 9 5124, Email id: gavlinvestors@godrejagrovet.com 11 : Additional disclosures as per Clause 52( 4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Standalone Consolidated Quarter Ended Year Ended Quarter Ended 30-Jun-26 31-Mar-26 30-Jun-25 31-Mar-26 Particulars 30-Jun-26 31-Mar-26 30-Jun-25 (Unaudited) [Refer Note 10) (Unaudited) (Audited) (Unaudited) (Refer Note 10) (Unaudited) 0.33 0.26 0.33 0.16 0.76 1.42 14.71 7.98 - - - - - - 3,082.33 2,895.52 183.60 64.74 9.55 3.37 9.54 3.36 0.96 0.97 * * - 0.00 0.80 0.70 0.16 0.13 17.95 17.54 6.47 6.38 10.32% 6.32% 8.33% 3.88% * Working Capital is negative Formulae for computing the ratios 0.41 0.41 6.61 11.90 - - - 2,744.73 168.89 8.78 8.78 0.78 * - 0.92 0.20 16.71 7.43 12.90% 8.42% Debt equity ratio (gross) : Total debt/ Net worth Debt equity ratio (net) : Net debt/ Net worth Total debt: Borrowings (Non-current+ Current) 0.26 Debt Equity Ratio (gross) 0.16 Debt Equity Ratio (net) 3.46 Debt Service Coverage Ratio 9.46 Interest Service Coverage Ratio - Outstanding redeemable Preference Shares - Capital Redemption Reserve - Debenture Redemption Reserve 2,895.52 Net Worth 526.26 Net Profit after Tax 27.36 Earnings per share - Basic 27.35 Earnings per share - Diluted 0.97 Current Ratio * Long Term Debt to Working Capital 0.00 Bad Debts to Accounts Receivable ratio 0.70 Current Liability Ratio 0.13 Total Debts to Total Assets ratio 21.13 Debtors Turnover 7.54 Inventory Turnover 9.96% Operating Margin(%) 6.80% Net Profit Margin (%) Net debt : Borrowings (Non-current+ Current) minus Cash & cash equivalents Net worth : Total equity 0.71 0.68 0.70 0.54 0.64 1.78 6.66 5.21 - - - - 9.90 9.90 2,294.64 2,163.66 128.31 102.28 6.99 5.45 6.99 5.45 0.94 0.95 * * - - 0.80 0.73 0.24 0.24 14.69 13.69 6.95 6.99 8.41% 5.96% 4.49% 4.38% Debt service coverage ratio: Earnings available for Debt Service / (Finance costs & Lease payments + Principal repayments made during the year/period oflong term debts) Earnings available for Debt Service : Net Profit after taxes (Profit for the period) + Depreciation and amortizations + Finance costs +/(-) Loss/(Profit) on Sale of Property, plant & Equipment Interest service coverage ratio: EBIT / Finance costs EBIT: Profit before Exceptional items, Tax & Share of Profit of Equity Accounted Investees+ Finance costs Current ratio : Current assets / Current liabilities Long term debt to working capital: Non-current borrowings I (Current Assets - Current liabilities) Bad debts to Account receivable ratio : Bad debts including provision for doubtful debts / Average trade receivables Current liability ratio : Current liabilities/ Total liabilities Total debts to total assets: Total borrowings I Total assets Debtors turnover: Sales/ Average trade receivables (annualised) Inventory turnover: Sales/ Average Inventory (annualised) Operating Margin: (EBITDA-Other income)/ Revenue from Operations EBITDA: Profit before Exceptional items, Tax & Share of Profit of Equity Accounted Investees+ Depreciation & Amortisation+ Finance costs Net Profit Margin : Net Profit after taxes (Profit for the period) / Revenue from Operations 0.95 0.94 3.64 6.30 -- 9.90 2,044.81 148.83 8.35 8.35 0.81 * 0.00 0.83 0.32 15.63 7.66 10.32% 5.69% (Rs. in crore) Year Ended 31-Mar-26 (Audited) 0.68 0.54 1.89 5.36 - - 9.90 2,163.66 445.18 24.58 24.57 0.95 * o.oi 0.73 0.24 16.39 7.80 8.44% 4.35%
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12 Consolidated Segmental Information (Rs in crorc) Quarter Ended Year ended Sr. Particulars 30-Jun-26 31-Mar-26 30-Jun-25 31-Mar-26 No. (Unaudited) (Rcfor Note tlJ( (Unaudited) (Audited) I Segment Revenue Animal Nutrition 1,302.09 1,269.85 1,156.24 4,941.54 Vegetable Oil 619.24 231.38 499.13 1,997.76 Crop Care Business 349.02 313.09 402.57 1,188.31 Dairy 464.63 399.19 416.81 1,589.02 Poultry and processed food 188.17 183.20 186.88 768.13 Others 37.35 34.75 51.86 157.42 Total 2,960.50 2,431.46 2,713.49 10,642.18 Less: Inter Segment Revenue (I 05.28) (98.8 I) (99.20) (409.50) Total 2,855.22 2,332.65 2,614.29 10,232.68 2 Segment Results (Profit Before Interest and Tax) Animal Nutrition { refer note (b) below} 83.68 131.66 64.52 347.18 Vegetable Oil 99.61 16.19 86.81 386.05 Crop Care Business 75.55 26.48 116.46 179.22 Dairy (1.90) 1.60 4.31 19.68 Poultry and processed food 0.87 12.56 4.46 32.01 Others (1.23) 1.80 2.07 ( 1.81) Total 256.58 190.29 278.63 962.33 Less: Interest (net) (22.30) (17.16) (33.34) (120.54) Less: Other Unallocable Expenses (net) (65.78) (52.97) (57. JO) (239.53) Profit before Exceptional items, Tax & Share of Profit of Joint Venture 168.50 120.16 188.19 602.26 3 Segment Assets Animal Nutrition 2,203.07 1,629.19 1,901.72 1,629.19 Vegetable Oil 825.33 748.61 656.99 748.61 Crop Care Business 2,052.68 1,873.75 1,790.88 1,873.75 Dairy 782.51 789.62 771.77 789.62 Poultry and processed food 501.67 505.83 490.61 505.83 Others 140.28 122.47 140.92 122.47 Unallocated 265.27 526.52 339.63 526.52 Inter segment elimination (28.55) (25.80) (34.97) (25.80) Total 6,742.26 6,170.19 6,057.55 6,170.19 4 Segment Liabilities Animal Nutrition 1,440.70 1,378.68 939.33 1,378.68 Vegetable Oil 174.21 159.29 118.47 159.29 Crop Care Business 1,039.68 936.21 1,128.39 936.21 Dairy 360.92 363.54 342.37 363.54 Poultry and processed food 174.42 183.08 176.90 183.08 Others 48.56 40.18 53.38 40.18 Unallocated 1,237.68 971.35 1,288.87 971.35 Inter segment elimination (28.55) (25.80) (34.97) (25.80) Total 4,447.62 4,006.53 4,012.74 4,006.53 Notes to Consolidated Segmental Information a Unallocable expenditure/income includes general administrative expenses & other expenses incurred on common services and income earned at the corporate level and relate to the Group as a whole. b Segment results for Animal Nutrition for the quarter and year ended 31st March 2026 includes profit on sale of land of Rs. 33.48 crore. c Others includes Seeds, Real Estate, Windmill and Cattle Genetics Business. Place: Mumbai Date : August 5, 2026 By order of the Board For Godrej Agrovet Limited CIN: L15410MH1991PLCl35359 Sunil Kataria Chief Executive Officer & Managing Director DIN: 00294803
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BS R & Co. LLP Chartered Accountants 14th Floor, Central B Wing and North C Wing Nesco IT Park 4, Nesco Center Western Express Highway Goregaon (East), Mumbai - 400 063, India Telephone: +91 (22) 62571000 Fax:+91 (22)62571010 Limited Review Report on unaudited standalone financial results of Godrej Agrovet Limited for the quarter ended 30 June 2026 pursuant to Regulation 33 and Regulation 52(4) of Securities and Exchange Board of India {Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021 To the Board of Directors of Godrej Agrovet Limited 1. We have reviewed the accompanying Statement of unaudited standalone financial results of Godrej Agrovet Limited (hereinafter referred to as "the Company") for the quarter ended 30 June 2026 ("the Statement"). 2. This Statement, which is the responsibility of the Company's management and approved by its Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"), as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021. Our responsibility is to issue a report on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Attention is drawn to the fact that the figures for the three months ended 31 March 2026 as reported in the Statement are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit. 5. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52(4) of the Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular EBI/HO/DDHS/P/CIR/2021/613 dated 10 AL!gust 20~1, BS R & Co. (a partnership finn with Registration No. BA61223) converted into BS R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB~181) with effect from October 14, 2013 Registered Office: 14th Floor, Central B Wing and North C Wing, Nesco rr Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai• 400063 Page 1 of 2 Annexure-B
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BS R & Co. LLP Limited Review Report (Continued) Godrej Agrovet Limited including the manner in which it is to be disclosed, or that it contains any material misstatement. Mumbai 05 August 2026 For B S R & Co. LLP Chartered Accountants Firm's Registration No.:101248W/W-100022 Maulik Jhaveri Partner Membership No.: 116008 UDIN:26116008LBCVJP3350 Page 2 of2
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BS R & Co. LLP Chartered Accountants 14th Floor, Central B Wing and North C Wing Nesco IT Park 4, Nesco Center Western Express Highway Goregaon (East), Mumbai - 400 063, India Telephone: +91 (22) 6257 1000 Fax: +91 (22) 6257 1010 Limited Review Report on unaudited consolidated financial results of Godrej Agrovet Limited for the quarter ended 30 June 2026 pursuant to Regulation 33 and Regulation 52(4) of Securities and Exchange Board of India {Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021 To the Board of Directors of Godrej Agrovet Limited 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Godrej Agrovet Limited (hereinafter referred to as "the Parent"), and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the net profit after tax and total comprehensive income of its joint venture for the quarter ended 30 June 2026 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 and Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"), as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended. 2. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting'' ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) of the Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 1 O August 2021, as amended. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the following entities: Name of the Entity Godrej Agrovet Limited Godvet Agrochem Limited Astec Lifesciences Limited {including its subsidiaries - Behram Chemicals BS R_& Co. (a partnership finn with Registration No. BA61223) converted into BS R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013 Private Limited; Registered Office: Relationship Parent Wholly Subsidiary Subsidiary 14th Floor, Central B Wing and North C Wing, Nesco rr Park 4, Ne Center, Western Express Highway, Goregaon (East), Mumba f -4000 Page 1 of 3 •
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BS R & Co. LLP Comercializadora Agricola Agroastrachem Cia Ltda} Creamline Dairy Products Limited Godrej Foods Limited Limited Review Report (Continued) Godrej Agrovet Limited Subsidiary Subsidiary Godrej Cattle Genetics Private Limited (earlier known as Godrej Maxximilk Wholly Owned Private Limited) Subsidiary ACI Godrej Agrovet Private Limited Joint Venture 5. Attention is drawn to the fact that the figures for the three months ended 31 March 2026 as reported in the Statement are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit. 6. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52(4) of the Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. 7. We did not review the interim financial information of One Subsidiary included in the Statement, whose interim financial information reflects total revenues (before consolidation adjustments) of Rs. Nil, total net profit after tax (before consolidation adjustments) of Rs. 0.03 crores and total comprehensive income (before consolidation adjustments) of Rs. 0.03 crores, for the quarter ended 30 June 2026, as considered in the Statement. The Statement also include the Group's share of net profit after tax of Rs. 12.63 crores and total comprehensive income of Rs. 12.64 crores, for the quarter ended 30 June 2026 as considered in the Statement, in respect of one joint venture, whose interim financial information have not been reviewed by us. This interim financial information have been reviewed by other auditors whose reports have been furnished to us by the Parent's management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary and joint venture, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion is not modified in respect of this matter. 8. The Statement includes the interim financial information of three Subsidiaries which have not been reviewed, whose interim financial information reflects total revenues (before consolidation adjustments) of Rs. 24.73 crores, total net loss after tax (before consolidation adjustments) of Rs. 0.93 crores and total comprehensive loss {before consolidation adjustments) of Rs. 0.93 crores, for the quarter ended 30 June 2026, as considered in the Statement. According to the information and explanations given to us by the Parent's management, this i • • ation is not material to the Group. Page 2 of 3
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BS R & Co. LLP Limited Review Report (Continued) Godrej Agrovet Limited Our conclusion is not modified in respect of this matter. Mumbai 05 August 2026 For B S R & Co. LLP Chartered Accountants Firm's Registration No.:101248W/W-100022 Maulik Jhaveri Partner Membership No.: 116008 UDIN:26116008CFIJLC4229 Page 3 of 3
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Outlook Request for early superannuation from the employment of the Company as CFO and Head Finance and Legal of Godrej Agrovet Limited w.e.f. close of business hours on September 30, 2026 From: S Varadaraj <s.varadaraj@godrejagrovet.com> To: Sunil Kataria <sunil.kataria@godrejagrovet.com> Subject: Request for early superannuation from the employment of the Company as CFO and Head Finance and Legal of Godrej Agrovet Limited w.e.f. close of business hours on September 30, 2026 Dear Sunil, I hereby request for an early superannuation from the employment of the Company as CFO and Head Finance Legal of Godrej Agrovet Limited, with effect from close of business hours on September 30,2026, due to personal reasons. I hereby confirm that there are no other material reasons for my early superannuation other than those provided above. Thanking you, Yours sincerely Varadaraj Subramanian Annexure-C
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Annexure-D Sr. No. Particulars Details 1. Reason for change viz. appointment, re - appointment, resignation, removal, death or otherwise Due to early superannuation from the employment of the Company of Mr. S. Varadaraj as the Chief Financial Officer & Head – Finance & Legal of the Company. 2. Date of appointment/re - appointment/cessation (as applicable) & term of appointment/re-appointment The early superannuation from the employment of the Company will be effective from the close of business hours on September 30, 2026. 3. Brief profile (in case of appointment) Not Applicable 4. Disclosure of relationships between Directors (in case of appointment of a director) Not Applicable
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Annexure-E Sr. No. Particulars Details 1. Reason for change viz. appointment, re -appointment, resignation, removal, death or otherwise Appointment of Mr. Ravishankar A. as the “Chief Financial Officer – Designate” and subsequently as the “Chief Financial Officer” of the Company is due to early superannuation from the employment of the Company of Mr. S. Varadaraj as the Chief Financial Officer & Head – Finance & Legal of the Company. 2. Date of appointment / re - appointment / cessation (as applicable) & term of appointment / re-appointment The appointment as the “Chief Financial Officer – Designate” will be effective from September 21 , 2026 upto September 30, 2026. The appointment as “Chief Financial Officer ” will be effective from October 1, 2026. 3. Brief profile (in case of appointment) Mr. Ravishankar A. is a seasoned finance leader with over two decades of experience across business partnering, corporate finance, controllership, financial planning, investor relations and governance. Most recently, he served as Vice President – Finance for Hindustan Unilever’s Beauty & Wellbeing business, leading the finance function for a €1.5 billion portfolio. He partnered closely with the business leadership to shape the division’s strategic agenda, including portfolio transformation, M&A, operational excellence, and resource allocation, and supported the integration of acquisitions including Minimalist and OZiva. Previously, he was Group Finance Controller and Head of Investor Relations at Hindustan Unilever, where he strengthened financial reporting, governance and internal controls, while deepening engagement with the investment community. Mr. Ravishankar A. has held leadership roles across India, the United Kingdom and Switzerland, leading diverse teams and partnering with global and local leadership. He has also served on the boards of several Unilever
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group companies, including Unilever Nepal Limited, a listed subsidiary of Hindustan Unilever. An Electronics Engineering graduate, Ravishankar also holds an MBA from the Indian Institute of Management Lucknow. 4. Disclosure of relationships between directors (in case of appointment of a director) Not Applicable