Venkys (India) Ltd Share Price – NSE  /  BSE

Miscellaneous, Small Cap

Revenue from operations fell by 8% YoY to Rs 953.17 crore during the quarter.

On the segmental front, revenue from Poultry and Poultry Products business remained flat at Rs 438.96 crore. The Oilseed business and the Animal Health Products business posted revenues of Rs 460.77 crore (down 16% YoY) and Rs 80.98 crore (up 9% YoY), respectively.

Total expenses declined by 5% to Rs 973.44 crore in the third quarter as compared with the same period last year, primarily due to lower raw material costs (down 8% YoY). This was, to some extent, offset by higher employee expenses (up 10% YoY) and higher other expenses (up 3% YoY).

The company posted a pre-tax loss of Rs 10.48 crore in Q3 FY24 as against a pre-tax profit of Rs 22.02 crore in Q3 FY23.

Tax write-back in Q3 FY24 was Rs 2.54 crore. Tax outgo during the corresponding period previous fiscal was Rs 5.49 crore.

Venky's said: The profit margins of the poultry and poultry products segment for the quarter ended 31st December 2023 have been affected due to lower realizations from sale of day-old chicks and grown-up birds.

Oilseed segment’s margins were affected due to lower demand and also due to subdued realizations from the finished goods i.e. de-oiled cake and oil. Performance of Animal Health Products segment has been good.

Venkys (India) is the largest fully integrated poultry group in Asia. Its diversified products include SPF eggs, chicken and eggs processing, broiler and layer breeding, genetic research and Poultry diseases diagnostic, Poultry vaccines and feed supplements, vaccine pro.

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Net loss of Venky's (India) reported to Rs 7.94 crore in the quarter ended December 2023 as against net profit of Rs 16.53 crore during the previous quarter ended December 2022. Sales declined 7.97% to Rs 953.17 crore in the quarter ended December 2023 as against Rs 1035.75 crore during the previous quarter ended December 2022.

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Venkys (India) will hold a meeting of the Board of Directors of the Company on 8 February 2024.

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Revenue from operations declined 4.84% YoY to Rs 912.60 crore in Q2 FY24 as against Rs 959.03 crore recorded in Q2 FY23.

The company's profit before tax stood at Rs 45.81 crore in Q2FY24 as compared to pre-tax loss of Rs 27 crore recorded in corresponding quarter last year.

The company's Poultry and Poultry Products segment reported revenue to Rs 426.19 crore, up 3.2% YoY, due to improvement in realisations from the sale of day old chicks and grown up broilers; and also due to lower cost of feed ingredients i.e. maize and soya.

The Oilseed segment reported revenue of Rs 436.15 crore, down 13.17% YoY and down 10.68% QoQ While the Animal Health Products segment reported revenue of Rs 75.16 crore, up 1.71% YoY and down 4.93% QoQ.

Earlier, the company had announced setting up of new manufacturing unit at Village, Kesurdi, Taluka Khandala, district, Satara, Maharashtra under its animal health product division in December 2021. The project is on track and construction activities are completed. The company is an advanced stage for obtaining necessary licenses for operations and it is expected that the commercial production will commence in December, 2023.

Venkys (India) is the largest fully integrated poultry group in Asia. Its diversified products include SPF eggs, chicken and eggs processing, broiler and layer breeding, genetic research and Poultry diseases diagnostic, Poultry vaccines and feed supplements, vaccine pro.

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