On a consolidated basis, Kaveri Seed Company's net profit surged 159.43% to Rs 8.25 crore in Q3 December 2019 as against Rs 3.18 crore reported in Q3 December 2018. Consolidated net sales jumped 43.91% to Rs 121.98 crore in Q3 December 2019 over Q3 December 2018.

The result was declared during market hours yesterday, 5 February 2020. Kaveri Seed Company jumped 4.51% to close at Rs 489.40 on BSE yesterday, 5 February 2020.

Consolidated profit before tax soared 153.98% to Rs 11.48 crore in Q3 December 2019 as compared to Rs 4.52 crore posted in Q3 December 2018. Total tax expenses, for the quarter witnessed a 83.22% surge to Rs 2.95 crore over Rs 1.61 crore paid in Q3 December 2018.

The consolidated earnings before interest, depreciation and tax (EBITDA) grew 76.44% to Rs 18.12 crore in Q3 December 2019 from Rs 10.27 crore in Q3 December 2018. The consolidated EBITDA margin improved to 14.85% in Q3 December 2019 from 12.11% in Q3 December 2018. The consolidated profit margin also grew to 6.99% in Q3 December 2019 as compared to 3.43% in Q3 December 2018.

In its outlook, the company mentioned that the commodity prices are to going to remain higher now with a more than expected monsoon, keeping the farmers sentiments happy. Maize and rice area for Rabi season has already begun to go up with increase and expected to continue growth in the fourth quarter of the financial year, given good ground water table as well as stable commodity prices.

As of 31 December 2019, the total cash on books stood at Rs 413 crore.

The company had offered buyback of 28 lakh shares worth Rs 700 per share whose process has been completed on 23 January 2020.

Kaveri Seed Company is engaged in the production, processing and marketing of hybrid seeds. It owns over 600 acres of farm land. It offers products in two categories: filed crops and vegetables.