Financial Risk Management (Tables)

12 Months Ended

Jun. 30, 2025

Financial Risk Management [Abstract]

Schedule of Reliable Sources of Index

Reliable sources of index were used for the rates used in the “probable scenario”.

		Consolidated									Scenario I -						Scenario I - Probable						Scenario II - Remote						Scenario III - Probable						Scenario IV - Remote
		June 30, 2025									Probable						Decrease						Decrease						Increase						Increase
(*) annual average rates Operation	Risk	Balance (R$)			Notional/ Position			Rate			Balance (R$)			Rate			Balance (R$)			-25% Rate			Balance (R$)			-50% Rate			Balance (R$)			25% Rate			Balance (R$)			50% Rate
Short-term investments	CDI		125,614			-			14.90	%		(276	)		14.68	%		(4,598	)		11.01	%		(9,220	)		7.34	%		4,598			18.35	%		9,220			22.02	%
Short-term investments	SELIC		-			-			15.00	%		-			14.68	%		-			11.01	%		-			7.34	%		-			18.35	%		-			22.02	%
Marketable securities	SELIC		16,908			-			15.00	%		(54	)		14.68	%		(619	)		11.01	%		(1,241	)		7.34	%		619			18.35	%		1,241			22.02	%
Cash and securities - USD	USD		3,430			629			5.46			(293	)		5.92			(931	)		4.44			(1,862	)		2.96			931			7.40			1,862			8.88
Total cash, cash equivalent			145,952			629						(623	)					(6,148	)					(12,323	)					6,148						12,323
Financing in Paraguay	USD		(49,113	)		(9,000	)		5.46			(22,720	)		5.92			72,682			4.44			145,370			2.96			(72,682	)		7.40			(145,370	)		8.88
Financing in Bolivia	USD		-			-			5.46			-			5.92			-			4.44			-			2.96			-			7.40			-			8.88
Financing in Brazil	USD		(73,771	)		-			5.46			(34,126	)		5.92			109,174			4.44			218,355			2.96			(109,174	)		7.40			(218,355	)		8.88
Financing in Brazil	CDI		(2,863	)		-			14.90	%		6			14.68	%		105			11.01	%		210			7.34	%		(105	)		18.35	%		(210	)		22.02	%
Financing/Debentures	IPCA		(312,415	)		-			14.47	%		26,712			5.92	%		4,625			4.44	%		9,248			2.96	%		(4,625	)		7.40	%		(9,248	)		8.88	%
Total Financing (b)			(438,162	)		(9,000	)					(30,128	)					186,586						373,183						(186,586	)					(373,183	)
Araucária VI	Soybean bags		2,952			27,740			126.00			-			126.00			(738	)		94.50			(1,476	)		63.00			738			157.50			1,476			189.00
Araucária VII	Soybean bags		134,893			1,282,500			122.77			-			122.77			(33,723	)		92.08			(67,447	)		61.38			33,723			153.46			67,447			184.15
Jatobá II	Soybean bags		9,423			87,655			111.15			-			111.15			(2,356	)		83.37			(4,712	)		55.58			2,356			138.94			4,712			166.73
Jatobá III	Soybean bags		3,685			33,374			113.14			-			113.14			(921	)		84.85			(1,843	)		56.57			921			141.42			1,843			169.71
Jatobá V	Soybean bags		8,981			79,459			121.43			-			121.43			(2,245	)		91.07			(4,491	)		60.71			2,245			151.78			4,491			182.14
Jatobá VI	Soybean bags		13,002			116,083			128.68			-			128.68			(3,251	)		96.51			(6,501	)		64.34			3,251			160.85			6,501			193.02
Jatobá VII	Soybean bags		57,297			549,084			137.79			-			137.79			(14,324	)		103.34			(28,649	)		68.89			14,324			172.23			28,649			206.68
Alto Taquari IV	Soybean bags		149,582			1,456,974			132.33			-			132.33			(37,396	)		99.25			(74,791	)		66.16			37,396			165.41			74,791			198.49
Chaparral I	Soybean bags		219,792			2,127,241			147.78			-			147.78			(54,948	)		110.84			(109,896	)		73.89			54,948			184.73			109,896			221.67
Preferência I	Cattle (@)		101,620			452,342			333.60			-			333.60			(25,405	)		250.20			(50,810	)		166.80			25,405			417.00			50,810			500.40
Rio do Meio I	Soybean bags		49,571			442,884			127.90			-			127.90			(12,393	)		95.92			(24,786	)		63.95			12,393			159.87			24,786			191.84
Rio do Meio II	Soybean bags		5,276			65,757			128.47			-			128.47			(1,319	)		96.35			(2,638	)		64.23			1,319			160.58			2,638			192.70
Total receivables from farms			756,074			6,721,093						-						(189,019	)					(378,040	)					189,019						378,040
Derivative operations	Grains (bags)		5,824			(2,638,573	)		(a)			2,200			(a)			51,043			(a)			102,458			(a)			(60,368	)		(a)			(121,042	)		(a)
Derivative operations	USD		16,059			(78,415	)		(a)			15,989			(a)			98,436			(a)			196,806			(a)			(98,300	)		(a)			(196,672	)		(a)
Derivative operations	Cattle (@)		23			(1,650	)		(a)			-			(a)			108			(a)			239			(a)			(154	)		(a)			(284	)		(a)
Derivative operations	Cotton (lbs.)		3,191			(27,602,400	)		(a)			3,192			(a)			9,206			(a)			19,395			(a)			(18,083	)		(a)			(38,750	)		(a)
Derivative operations	Ethanol (m^3)		(7,177	)		(58,800	)		(a)			(7,178	)		(a)			40,686			(a)			81,371			(a)			(40,686	)		(a)			(81,371	)		(a)
Derivative operations	Swap (BRL)		(10,906	)		-			(a)			(10,906	)		(a)			25,841			(a)			54,497			(a)			(23,469	)		(a)			(44,918	)		(a)
Derivative operations	Sugarcane (Kg)		14			(30,336,000	)		(a)			14			(a)			8,998			(a)			17,995			(a)			(8,998	)		(a)			(17,995	)		(a)
Margin - Stonex	CDI		430			-			14.90	%		(1	)		14.68	%		(16	)		11.01	%		(32	)		7.34	%		16			18.35	%		32			22.02	%
Total Derivatives (a)			7,458			(60,715,838	)					3,310						234,302						472,729						(250,042	)					(501,000	)
Cresca, net	USD		-			-			5.46			-			5.92			-			4.44			-			2.96			-			7.40			-			8.88
Cresud, net	USD		(1,703	)		(312	)		5.46			(144	)		5.92			462			4.44			923			2.96			(462	)		7.40			(923	)		8.88
Helmir, net	USD		(5,256	)		(963	)		5.46			(444	)		5.92			1,425			4.44			2,850			2.96			(1,425	)		7.40			(2,850	)		8.88
Total related parties			(6,959	)		(1,275	)					(588	)					1,887						3,773						(1,887	)					(3,773	)

(*) SOURCE Risks: Bloomberg

(a) For sensitivity analysis of derivative positions, forward rates and prices at each maturity date of the operation were used, according to the table above.

(b) The sensitivity analyses do not consider financing transactions and receivables from farms with fixed rate.

Schedule of Financial Liabilities by Maturity

The table below shows the Company's financial liabilities by group of maturity based on the remaining period at the balance sheet date up to the contract maturity date.

	Note		Book value		Contractual value		Less than one year		From one to two years		From three to five years		Above five years
At June 30, 2025
Derivative financial instruments		7		33,124		33,124		15,492		17,632		—		—
Lease payables		15		352,539		635,192		88,397		144,367		248,148		154,280
Trade payable		16		103,658		103,658		103,658		—		—		—
Loans, financing and debentures		17		885,519		1,058,791		402,928		262,410		329,643		63,810
Other liabilities		19		24,445		24,445		7,082		17,363		—		—
Transactions with related parties		30		8,401		8,401		—		8,401		—		—
At June 30, 2024
Derivative financial instruments		7		87,068		87,068		69,190		17,878		—		—
Lease payables		15		286,605		444,021		75,481		126,840		174,720		66,980
Trade payable		16		67,192		67,192		67,192		—		—		—
Loans, financing and debentures		17		681,938		904,321		205,253		61,007		537,641		100,420
Other liabilities		19		32,913		32,913		8,357		24,556		—		—
Transactions with related parties		30		9,275		9,275		—		9,275		—		—

Schedule of Demonstrates the Financial Debts

The following table demonstrates the financial debts.

	2025			2024
Total derivatives (Note 7)		(7,458	)		48,593
Loans, financing and debentures (Note 17)		885,519			681,938
Total acquisitions payable (Note 19)		24,445			32,913
		902,506			763,444
Less: cash and cash equivalents (Note 6.1)		(142,908	)		(170,953	)
Less: marketable securities (Notes 6.2)		(16,908	)		(38,661	)
		(159,816	)		(209,614	)
Net debt (net cash)		742,690			553,830
Total equity		2,177,728			2,179,679
Leverage ratio		34.10	%		25.41	%

Schedule of Assets and Liabilities, Classification and the Fair Value Level of Hierarchy

The following table presents the Company’s assets and liabilities, their classification and the fair value, as well as the level of hierarchy:

	June 30, 2025
Consolidated - R$ thousand	Note	Book value		Fair value		Quoted prices in active markets (Level 1)		Significant observable data (Level 2)		Significant non-observable data (Level 3)
Financial assets measured at amortized cost
Current
Cash and cash equivalents	6.1		125,614		125,614		125,614		—		—
Trade receivables, net	8.1		149,639		149,639		—		149,639		—
Non-current
Related-party transactions	30		2,822		2,822		—		2,822		—
Financial assets measured at fair value through profit or loss
Current
Marketable securities	6.2		16,908		16,908		16,908		—		—
Receivables from sale of farm, net	8.1		235,419		235,419		—		235,419		—
Derivative operations (b)	7		13,813		13,813		13,813				—
Derivative operations (b)	7		15,796		15,796		—		15,796		—
Non-current
Receivables from sale of farm, net	8.1		521,210		521,210		—		521,210		—
Derivative operations (b)	7		10,973		10,973		—		10,973		—
Non-financial assets measured at fair value
Current
Biological assets	10		26,859		26,859		—		26,859		—
Biological assets	10		238,581		238,581		—		—		238,581
Non-current
Biological assets	10		32,345		32,345		—		32,345		—
Non-financial assets measured at cost
Non-current
Investment properties	11		1,323,834		3,615,837		—		—		3,615,837
Total			2,713,813		5,005,816		156,335		995,063		3,854,418
Financial liabilities measured at amortized cost
Current
Trade payables	16		103,659		103,659		—		103,659		—
Loans, financing and debentures (a)	17		355,841		355,841		—		355,841		—
Accounts payable due to acquisition of farm	19		1,305		1,305		—		1,305		—
Non-current
Related-party transactions	30		8,401		8,401		—		8,401		—
Loans, financing and debentures (a)	17		529,678		529,678		—		529,678		—
Financial liabilities measured at fair value through profit or loss
Current
Leases payable and associated liabilities	15		82,330		82,330		—		82,330		—
Derivative operations (b)	7		13,520		13,520		13,520		—		—
Derivative operations (b)	7		1,972		1,972		—		1,972		—
Accounts payable due to acquisition of farm	19		5,777		5,777		—		5,777		—
Non-current
Leases payable and associated liabilities	15		343,454		343,454		—		343,454		—
Derivative operations (b)	7		202		202		202		—		—
Derivative operations (b)	7		17,430		17,430		—		17,430		—
Accounts payable due to acquisition of farm	19		17,363		17,363		—		17,363		—
Total			1,480,932		1,480,932		13,722		1,467,210		—

	June 30, 2024
Consolidated - R$ thousand	Note		Book value		Fair value		Quoted prices in active markets (Level 1)		Significant observable data (Level 2)		Significant non-observable data (Level 3)
Financial assets measured at amortized cost
Current
Cash and cash equivalents				153,132		153,132		153,132		—		—
Trade accounts receivables, net		8.1		107,256		107,256		—		107,256		—
Non-current
Transactions with related parties		30		2,968		2,968		—		2,968		—
Financial assets measured at fair value through profit and loss
Current
Marketable securities		6.2		22,941		22,941		22,941		—		—
Receivables from sale of farm, net		8.1		249,327		249,327		—		—		249,327
Derivative financial instruments (b)		7		31,718		31,718		29,873		1,845		—
Noncurrent
Marketable securities		6.2		15,720		15,720		15,720		—		—
Receivables from sale of farm, net		8.1		520,758		520,758		—		—		520,758
Derivative financial instruments (b)		7		6,757		6,757		738		6,019		—
Non-financial assets measured at fair value
Current
Biological assets		10		210,335		210,335		—		14,664		195,671
Noncurrent
Biological assets		10		26,930		26,930		—		26,930		—
Non-financial assets measured at cost
Noncurrent
Investment properties		11		1,267,828		2,841,656		—		—		2,841,656
Total				2,615,670		4,189,498		222,404		159,682		3,807,412
Financial liabilities measured at amortized cost
Current
Trade payables		16		67,192		67,192		—		67,192		—
Loans, financing and debentures (a)		17		177,311		177,311		—		177,311		—
Noncurrent
Transactions with related parties		30		9,275		9,275		—		9,275		—
Loans, financing and debentures (a)		17		504,627		504,627		—		504,627		—
Financial liabilities measured at fair value through profit and loss
Current
Lease payable				77,456		77,456		—		77,456		—
Derivative financial instruments (b)		7		69,190		69,190		36,901		32,289		—
Accounts payable for acquisition		19		8,357		8,357		8,357		—		—
Noncurrent
Lease payable		7		284,604		284,604		—		284,604		—
Derivative financial instruments (b)		15		17,878		17,878		1,493		16,385		—
Accounts payable for acquisition				24,556		24,556		24,556		—		—
Total				1,240,446		1,240,446		71,307		1,169,139		—

(a) The book value of loans and financing presented in the financial statements approximates the fair value, since the rates of these instruments are substantially subsidized and there is no intention of early settlement;

(b) The derivative transactions negotiated at active market are measured at fair value at Level 1, over-the-counter transactions are measured at Level 2, as presented in the table above

Schedule of Fair Value of the Credits from the Sale of the Farm

The significant non-observable inputs used in the measurement of the fair value of biological assets and investment properties are disclosed in Notes 10 and 11, respectively:

Description	Evaluation method	Significant non-observable inputs	Variation of non-observable inputs	Sensitivity of inputs to fair value
Receivables from sale of farm	Discounted cash flow	Premium (or Basis)	0.53 - 0.97 USD/bu	The increase or decrease of 0.20 USD/bu in the premium (or basis) paid for the soybean would result in an impact of R$12,960, representing an increase or decrease of 1.71% in the receivables from the farm.