We are increasing our topline/ EBITDA/ APAT estimates by 4%18%/22% for FY21 & 4%/9%/1% for FY22 respectively; rolling forward to Sept'22 earnings and upgrade the stock to ACCUMULATE (from Sell) with revised target price of Rs 513 (previous Rs 461) based on SoTP (Table in Exhibit 1). GOAGRO's results were significantly ahead of our estimates driven by robust performance from Astec Lifesciences (Topline up 45%), better than expected profitability in the Animal Feed segment (Margins up 164 bps YoY) and...