Venkys (India) Ltd Share Price – NSE /  BSE

Miscellaneous, Small Cap

Venkys (India) announced that the Annual General Meeting (AGM) of the company will be held on 11 September 2024.

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Venkys (India) has fixed 23 August 2024 as record date for the purpose of deciding eligibility of shareholders entitled to receive dividend on equity shares, if approved.

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The company's net profit surged 287.33% to Rs 75.18 crore on 17.25% decline in revenue from operations to Rs 808.02 crore in Q1 June 2024 over Q1 June 2023. Profit before tax soared 278.64% year-on-year to Rs 100.87 crore in Q1 June 2024.

Total expenses declined by 25.17% to Rs 717.63 crore in the first quarter as against the same period last year, primarily due to lower raw material costs (down 33.34% YoY). Meanwhile, employee expenses was up 6.23% YoY and other expenses was up 2.67% YoY.

On the segmental front, revenue from Poultry and Poultry Products business rose 17.74% at Rs 513.80 crore. The Animal Health Products business posted revenue of Rs 83.51 crore, up 5.35% YoY. Meanwhile, Oilseed business reported revenues of Rs 237.94 crore, down 51.28% YoY.

Venky's reported improved profit margins in its poultry and poultry products segment, driven by improved realizations from sale of day old chicks and grown up birds. However, the oilseed segment faced margin pressures due to lower sales, reduced raw material costs, and subdued finished product prices. The company's animal health products division delivered satisfactory performance.

Venkys (India) is Asia's largest fully integrated poultry group. Its diverse operations encompass SPF eggs, chicken and egg processing, broiler and layer breeding, genetic research, poultry disease diagnostics, and vaccine production.

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Net profit of Venky's (India) rose 287.33% to Rs 75.18 crore in the quarter ended June 2024 as against Rs 19.41 crore during the previous quarter ended June 2023. Sales declined 17.25% to Rs 808.02 crore in the quarter ended June 2024 as against Rs 976.44 crore during the previous quarter ended June 2023.

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