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9M FY24 – Consolidated Financial Highlights

Revenue from Operations was at ? 981.89 crore as compared to ? 939.93 crore in 9MFY23; registered a growth of 4.46%

EBITDA was at ? 321.13 crore as compared to ? 303.67 crore in Q3FY23; increased by 5.75%

Net Profit was at ? 290.22 crore as compared to ? 280.93 crore in Q3FY23; registered a growth of 3.30%

Q3FY24 – Consolidated Financial Highlights

Revenue from Operations was at Rs 118.47 crore as compared to Rs 123.49 crore in Q3FY23; down by 4%

EBITDA was at Rs  22.25 crore and Net Profit was at Rs 11.66 crore

February 02, 2024: Kaveri Seed Company Ltd., leading seed company, has declared its financial results for the Quarter ended Dec 31, 2023.

Key Financials (? in crore)

Commenting on the results, Mr. G V Bhaskar Rao, Chairman & Managing Director said, “We are delighted to declare good results for both Q4 and 9M FY24.“We were successful in delivering good realizations in both cotton and rice in spite of volumes remaining stable. As envisaged maize and vegetables are growing in both volumes and revenues and the same trajectory will be seen in the coming quarters too. We could see an increase in the contribution of new products in Bajra and Maize.

We could see our efforts in exports yielding results and put us on the fast track. On a quarterly front other income was down by Rs. 19.14 crore and depreciation increased by Rs. 1.50 crore, and the rest of it remained flat. The higher other income in the last quarter was on account of redemptions done from investments made by the company for the implementation of early buy back done during the last financial year. As a part of our continuous endeavor to reward our investors, we had announced buy back of shares at Rs. 725 up to Rs. 325 crore”

9MFY24 – Standalone Operational Highlights

Cotton volumes are stable but revenue Increased by 6.03%

The contribution of new products was up from 45.02% to 59.67% of volumes in Bajra

Hybrid Rice volumes are stable but revenue Increased by 9.26%

Selection Rice volumes are stable but revenue Increased by 8.16%

Increase in Maize revenue by 5.36%

Contribution of new products was up from 36.67% to 49.45% of volume in Maize

Vegetable seed sales volumes increased by 22.13% and revenue increased by 24.40%

Vegetable crops like Bitter Gourd, Tomato, Okra & Watermelon had shown good performance

Contribution from exports to revenue has increased by 139%

Total cash on books stands at Rs. 587 crore

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