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.

13 May 2020

690.05

-0.02%

Q4FY20 Result Update - Full blown COVID Impact - BUY

Buy: Godrej Agrovet Ltd.

Prabhudas Lilladhar

GOAGRO's results were significantly impacted due to COVID and lockdown measures leading to significant erosion in topline and profitability in the core business. Many one-offs and adjustments have impacted YoY comparison, but indicatively adjusted sales/EBITDA/APAT came at +2%/-5%/+38% YoY @ Rs 14.6 bn/ Rs 648 mn/ Rs 272 mn resp. Though its products fall under essential categories list the outlook continues to be grim for a while, as many...

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

Godrej Agrovet Ltd.

12 May 2020

690.05

-0.02%

COVID-19 dents performance across segments???

Buy: Godrej Agrovet Ltd.

Target

Motilal Oswal

12 May 2020 Ex-Tyson Foods (absent in the base quarter) and sale of land, GOAGROs revenue declined 1%. On the other hand, EBITDA increased 9%, aided by performance in Crop Protection (CP) and Palm Oil, which was offset by Animal Feed (AF) and Dairy. Although quarterly performance was above our estimates, we maintain our estimates for FY21/FY22 due to the current uncertain scenario. Revenue improved 7% YoY to INR14.9b (v/s est. INR13.4b), largely attributable to growth in CP, Dairy, and Godrej Tyson Foods (absent in the base quarter). EBITDA margins contracted 220bp YoY to 3.2% (v/s est. They were weighed by margin contraction in AF, Dairy, and Godrej Tyson Foods, whereas they were offset by margin expansion in CP. However, higher other income restricted PAT decline to 10%. FY20 revenue/PAT grew 15%/6%, while EBITDA declined 10%. revenue remained flat YoY (at INR8.

Godrej Agrovet Ltd. average weekly volume is high.

Godrej Agrovet Ltd.

06 Feb 2020

690.05

-0.02%

Animal feed/palm oil biz drive overall revenue growth

Buy: Godrej Agrovet Ltd.

Target

Motilal Oswal

6 February 2020 GOAGROs 3QFY20 revenues were up 23% YoY (+12% ex-Godrej Tyson Foods as it was absent in the base quarter) while EBITDA stood flat due to margin contraction in crop protection (CP), dairy and Godrej Tyson Foods. However, PAT grew 26% YoY due to the lower tax rate. Revenue grew 23% YoY to INR17.8b (v/s est. INR17.7b) attributable to growth in animal feed (AF), palm oil and Godrej Tyson foods. EBITDA margins contracted 130bp YoY to 5.6% (v/s est. 7.7%) due to margin contraction in crop protection (CP), dairy and Godrej Tyson Foods. PAT was up 26% due to lower tax rate and higher other income. 9MFY20 revenue/PAT grew 18%/8% YoY, while EBITDA declined 5% YoY. Although EBIT/kg grew 37% YoY to INR1/kg, it declined 23% QoQ due lower share of high-margin shrimp feed sales and sale of feed to Godrej Tyson Foods (subsidiary company) at no profit.

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

Godrej Agrovet Ltd.

03 Dec 2019

690.05

-0.02%

Palm oil biz on strong footing for FY21???

Buy: Godrej Agrovet Ltd.

Motilal Oswal

3 December 2019 Indonesia and Malaysia are the worlds largest palm oil producers and together account for ~86% share of palm oil production globally. According to both the South-East Asian countries are likely to increase the usage of palm oil for the production of biodiesel, which shall be used for their own consumption. The Indonesian government intends to implement B30 biodiesel (from B20 currently) in 2020, which would increase domestic consumption of crude palm oil by 3MMT. Therefore, post implementation of B30, incrementally 9% of Indonesias supply would be directed toward biodiesel Additionally, Malaysia which accounts for ~32% of the global production is also in the process of implementing B20. If B20 is implemented, domestic consumption of crude palm oil in Malaysia will incrementally increase by 1MMT; the country currently produces ~19MMT crude palm oil. GOAGRO is a participant in the governments Oil Palm Development Program (OPDP), which gives the company access to produce of Fresh Fruit Bunches (FFBs) from farmers in designated areas.

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

Godrej Agrovet Ltd.

05 Nov 2019

690.05

-0.02%

Big miss; Crop Protection drags 2Q

Buy: Godrej Agrovet Ltd.

Target

Motilal Oswal

YoY to INR9.4b). EBITDA margin contracted 240bp YoY to 6.5% (v/s est. 8.3%), mainly due to lower margin in crop protection and palm oil. EBITDA declined 15% YoY to INR1,197m (v/s est. INR1,561m). Adj. PAT was up 10% YoY to INR1,040m due to deferred tax benefit (v/s est. INR958m). Animal feed drives performance: Realization improvement in animal feed biz (+21% YoY) drove segment revenue growth of 32%; EBIT/kg stood at INR1.3 (up 1.7x YoY; flat QoQ). Astec posted strong revenue growth of 24% while EBITDA declined 32% YoY on account of INR120 inventory loss (related...

Godrej Agrovet Ltd. average weekly volume is high.

Godrej Agrovet Ltd.

05 Aug 2019

690.05

-0.02%

Animal feed nourishes revenue

Buy: Godrej Agrovet Ltd.

Target

Motilal Oswal

Revenue in-line; EBITDA/adj. PAT below estimates: Consol. revenue grew 15% YoY to INR17b (our estimate: INR16.6b), mainly led by the animal feed segment (+20% YoY to INR8.9b). EBITDA margin contracted by 105bp YoY to 8.3% (our estimate: 9.5%), mainly on account of higher other expenses. EBITDA grew 2% YoY to INR1,419m (our estimate: INR1,584m). Adj. PAT was down 5% YoY to INR760m (our estimate: INR916m). Margin pressures evident: Animal feed revenue increased 20% YoY, led by price hikes of 13% YoY (+9% QoQ). However, segmental EBIT margin shrank...

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

Godrej Agrovet Ltd.

01 Apr 2019, 12:00AM

690.05

-0.02%

Agri behemoth in the making

Buy: Godrej Agrovet Ltd.

Motilal Oswal

India has a huge opportunity in the palm oil business as it imports more than 90% of its demand due to supply constraint of fresh fruit brunches (FFBs). Oil palm plantation in India is regulated and GOAGRO has participated in the governments Oil Palm Development Program (OPDP) for accessing FFB produce from farmers in designated areas, thus being an asset-light model. GOAGRO being the largest palm oil manufacturer in India (35% market share) is well placed to capitalize on this opportunity as the government increases the area under cultivation. We expect the segment to deliver revenue CAGR of 11% over FY18-21 to INR8,046m by FY21 on account of increasing availability of FFBs (on higher mix of mature plants), increase in oil plantation area (currently has access to ~66k hectares of land and plans to add 2-2.5k hectares per year), and improvement in the Oil Extraction Ratio (OER).

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

Godrej Agrovet Ltd.

03 Dec 2018

690.05

-0.02%

Pick of the Week:03 DEC 2018

Buy: Godrej Agrovet Ltd.

Target

Axis Direct

Godrej Agrovet Ltd. average weekly volume is high.

Godrej Agrovet Ltd.

13 Nov 2018

690.05

-0.02%

Godrej Agrovet Ltd. - Q2FY19 Result Update - Revenue in-line though profit misses estimates

Buy: Godrej Agrovet Ltd.

Religare

Godrej Agrovet Ltd (GAVL)'s Q2FY19 revenue was in-line with estimates, while higher expenses impacted operating profit. Its revenue grew by 11.4% yoy to Rs1,588cr, while EBITDA declined by 3.7% yoy to Rs141cr during the quarter due to lower operating leverage in animal feed (in Aqua) and palm oil segments. Net profit was up by 16.7% yoy to Rs94.2cr led by increase in other income.

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

Godrej Agrovet Ltd.

30 Oct 2018, 09:16AM

690.05

-0.02%

Godrej Agrovet Ltd. - Company Update - Market share gain and product expansion is the key to growth

Buy: Godrej Agrovet Ltd.

Religare

Godrej Agrovet Ltd. (GAVL), part of the conglomerate Godrej group, is an agri-business company operating in five business verticals- animal feed, crop protection, palm oil, dairy and processed foods.

Godrej Agrovet Ltd. is trading below all available SMAs

Is Godrej Agrovet Ltd. worth buying?

241 Votes:

Buy 75.1%

Sell 14.11%

Hold 10.79%

RESEARCH REPORTS

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