Godrej Agrovet Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for GODREJAGRO, BSE:540743 Godrej Agrovet Ltd.

Godrej Agrovet Ltd.

16 Mar 2022

713.00

-0.39%

Demand recovery across segments to propel earnings

Buy: Godrej Agrovet Ltd.

Target

Motilal Oswal

Demand recovery across segments to propel earnings Godrej Agrovet (GOAGRO) is likely to witness better demand across its segments of Palm Oil, Animal Feed (AF) and Crop Protection (CP). However, surge in commodity prices in the recent months due to the Russia-Ukraine crisis is expected to put its margins under pressure in the AF and CP businesses in the short term. Conversely, the palm oil business is likely to be a beneficiary of rising prices. The palm oil prices rallied 42% YoY to USD1,383/t as of Jan'22. However, the prices have further seen a 32% upsurge reaching USD1,840/t on 14th Mar'22...

Godrej Agrovet Ltd. is trading below all available SMAs

Godrej Agrovet Ltd.

12 Aug 2021

713.00

-0.39%

Q1FY22 Result Update - Cost pressure impacted margins - HOLD

Hold: Godrej Agrovet Ltd.

Recommendation

Prabhudas Lilladhar

GOAGRO reported weak results as cost pressure impacted margins. Topline growth of 28% was inline, driven by 34%/84% growth in Animal Feed/ Palm Oil segment. Blended gross margins contracted by 302 bps, driven by lower than expected margins in all segments. Price hikes in respective segments were not enough to offset cost inflation. Volume growth was healthy in Animal Feed but sharply lower than expected in Palm oil (@ 2% v/s exp of 11%), due to few weeks' delay in the season. Realisation growth was better...

Godrej Agrovet Ltd. is trading below all available SMAs

Godrej Agrovet Ltd.

05 Jul 2021

713.00

-0.39%

Rising palm oil prices expected to taper

Buy: Godrej Agrovet Ltd.

Target

Motilal Oswal

In this note, we have analyzed the recent trends in palm oil prices, the parameters driving these prices, and the corresponding impact on the Palm Oil business of GOAGRO the revenue/EBITDA contribution for which stood at 12%/17% (as of FY21). Here are the key highlights:...

Godrej Agrovet Ltd. is trading below all available SMAs

Godrej Agrovet Ltd.

14 May 2021

713.00

-0.39%

Q4FY21 Result Update - Present bright, future brighter - Upgrade to 'BUY'

Buy: Godrej Agrovet Ltd.

Recommendation Target

Prabhudas Lilladhar

We roll forward to FY23 estimates and upgrade GOAGRO to BUY (from Accumulate) with SoTP (Exhibit 1) based target price of Rs 639 (previous 587). The company reported better than expected results driven by higher than anticipated margins in Animal Feed (@7.1% v/s PLe of 4.9%) and Crop protection (@20.3% v/s PLe of 18.6%) segment. Animal feed volumes were impacted by bird flu in Q4, but margins expanded by >300 bps due to commercialisation of R&D; initiatives. Increased sale of in-house products (up...

Godrej Agrovet Ltd. has an average target of 960.00 from 2 brokers.

Godrej Agrovet Ltd.

10 May 2021

713.00

-0.39%

Robust performance; sustenance will be key

Buy: Godrej Agrovet Ltd.

Target

Motilal Oswal

GOAGRO's strong 4QFY21 performance was aided by all segments and low base of 4QFY20. EBITDA margin expanded 440bp YoY due to lower raw material costs (-340bp YoY), which led to an EBITDA growth of 133%. All...

Godrej Agrovet Ltd. is trading below all available SMAs

Godrej Agrovet Ltd.

05 Mar 2021

713.00

-0.39%

Monthly Update - Fertiliser sales takes a breather in February

Accumulate: Godrej Agrovet Ltd.

Prabhudas Lilladhar

We maintain reduce rating (TP- Rs 676) on CRIN due to capacity constraints in NPK and likely headwinds on the raw material side starting 4Q. We are positive on Urea companies given healthy volumes and significantly lower...

Godrej Agrovet Ltd. is trading below all available SMAs

Godrej Agrovet Ltd.

08 Feb 2021

713.00

-0.39%

Q3FY21 Result Update - Turnaround likely in various businesses in FY22 - Accumulate

Accumulate: Godrej Agrovet Ltd.

Recommendation Target

Prabhudas Lilladhar

GOAGRO reported lower than expected results driven by subdued performance from Animal feed & Palm oil segment. Animal feed demand remains impacted by slowdown in out-of-home consumption of dairy products and animal protein. Similarly, in palm oil segment, processing volumes took a big hit due to lower arrivals of Fresh Fruit Bunches (FFB) given white fly attack in AP & TG. While GOAGRO is getting its mojo back by (a) margin expansion across key segments (b) expected volume build up in...

Godrej Agrovet Ltd. is trading below all available SMAs

Godrej Agrovet Ltd.

06 Feb 2021

713.00

-0.39%

Palm Oil drags overall performance due to white-fly attack

Buy: Godrej Agrovet Ltd.

Target

Motilal Oswal

GOAGRO's 3QFY21 revenue decreased by 14% YoY due to a 23%/17%/10% decline in the Animal Feed (AF)/Palm Oil/Dairy segment. However, EBITDA margin expanded due to lower raw material costs, which led to 12% EBITDA growth. Margin expansion was witnessed in AF and Processed Foods and Dairy, but contracted in Palm Oil and Crop Protection (CP). Factoring in the below expected performance during 3QFY21 (mainly due to Palm Oil, AF, and CP), we decrease our FY21E PAT estimate by 7%. We have maintained the same for FY22E/FY23E as performance in 3QFY21 was...

Godrej Agrovet Ltd. has an average target of 960.00 from 2 brokers.

Godrej Agrovet Ltd.

03 Aug 2020

713.00

-0.39%

Lower RM costs drive margin expansion

Buy: Godrej Agrovet Ltd.

Target

Motilal Oswal

Production disruption caused by the extended lockdown resulted in lower-than-expected sales volume of higher-margin specialty 45%/302% due to strong volumes and higher realizations in the enterprise declined 26% YoY and stood at INR2.4b with EBIT margin contracting 70bp to 1.4%. GOAGRO's CP business is expected to be on strong footing due to (a) product launches in the standalone CP segment, (b) strong performance in Astec owing to its expertise in triazole chemistry, and (c) commencement of a new herbicide In the AF segment, increase in chicken/milk prices should improve farm profitability, thereby driving demand for broiler/cattle feed. Crop protection segments performance was impacted as the company took a conscious call to reduce the receivable for The company launched new herbicides during the quarter Delete Aqua and Production disruption caused by the extended lockdown resulted in lower-than- expected sales volumes of higher margin specialty products.

ICICI Securities Limited upgraded Godrej Agrovet Ltd. to Buy with a price target of 980.0 on 26 Sep, 2025.

Godrej Agrovet Ltd.

04 Jun 2020

713.00

-0.39%

Channel Check Update - Industry set for +20% growth in 1QFY21

Buy: Godrej Agrovet Ltd.

Prabhudas Lilladhar

Domestic agrochemical industry is expected to grow +20% YoY in Q1 driven by massive surge in herbicide sales, pre-buying led by robust demand expectation and ~5% price increase in generic molecules. Geographically, North India followed by South is expected to drive growth. Also, crop wise Rice will be the single largest growth driver for the industry driven by acreage expansion and shift from transplanting rice to Direct Seeded Rice (DSR). Molecules like Bispyribac Sodium (Key player PI Ind- Nominee Gold), Pyrazosulfuron (UPL- Saathi, Dhanuka- Cempa) Pendimethalin (UPL- Dost...

Godrej Agrovet Ltd. is trading below all available SMAs

Is Godrej Agrovet Ltd. worth buying?

240 Votes:

Buy 75.0%

Sell 14.17%

Hold 10.83%

RESEARCH REPORTS

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