Godrej Agrovet Ltd

₹ 509 1.11%
18 Aug - close price
About

Godrej Agrovet Limited is a diversified, Research & Development focused agri-business company, dedicated to improving the productivity of Indian farmers by innovating products and services that sustainably increase crop and livestock yields. It holds leading market positions in the different businesses in which it operates - Animal Feed, Crop Protection, Oil Palm, Dairy and Poultry and Processed Foods. [1]

Key Points

Animal Feed Business (46% of revenues) [1]
It is the main business of the company and it enjoys a dominant position in the domestic organised animal feed industry. It is present across various sub-categories like cattle, broiler, layer and aqua feed. [2] It owns 32 state-of-the-art manufacturing plants, equipped with quality assurance labs, help farmers improve their farm productivity and profitability. [3]
It also has a presence in the animal feed industry in Bangladesh through its joint venture ACI Godrej Agrovet Pvt Ltd [4]

  • Market Cap 9,774 Cr.
  • Current Price 509
  • High / Low 689 / 441
  • Stock P/E 29.8
  • Book Value 102
  • Dividend Yield 1.87 %
  • ROCE 18.3 %
  • ROE 19.4 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 47.2%
  • Promoter holding has increased by 2.06% over last quarter.

Cons

  • The company has delivered a poor sales growth of 11.3% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
1,252 1,380 1,333 1,154 1,128 1,244 1,077 964 1,548 1,690 1,544 1,400 1,850
1,136 1,272 1,252 1,038 1,021 1,120 1,005 893 1,399 1,533 1,447 1,315 1,732
Operating Profit 117 108 82 116 107 124 72 70 150 157 97 85 117
OPM % 9% 8% 6% 10% 10% 10% 7% 7% 10% 9% 6% 6% 6%
9 12 7 12 35 12 43 10 11 9 41 45 7
Interest 5 7 7 5 10 7 4 15 10 11 11 11 14
Depreciation 19 20 20 21 20 22 22 22 23 23 24 24 24
Profit before tax 102 93 62 102 113 107 89 43 128 133 104 96 86
Tax % 33% -8% 27% 22% 23% 23% 15% 22% 26% 25% 18% 16% 26%
Net Profit 68 101 45 79 86 83 76 34 95 100 85 81 64
EPS in Rs 3.56 5.24 2.36 4.12 4.50 4.31 3.97 1.75 4.97 5.18 4.41 4.19 3.32

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,546 2,197 2,761 3,099 3,307 3,366 3,618 3,675 4,337 5,119 4,413 6,183 6,484
1,511 2,079 2,566 2,860 3,036 3,074 3,293 3,336 4,007 4,697 4,040 5,694 6,028
Operating Profit 34 117 195 239 270 292 325 339 330 422 373 489 456
OPM % 2% 5% 7% 8% 8% 9% 9% 9% 8% 8% 8% 8% 7%
18 21 11 17 85 54 72 28 58 41 101 107 102
Interest 13 19 48 40 65 91 68 32 22 24 36 42 47
Depreciation 8 13 19 27 37 44 49 53 59 80 85 93 94
Profit before tax 30 106 139 189 253 211 281 281 307 359 353 460 418
Tax % 2% 24% 30% 27% 24% 24% 26% 32% 32% 18% 21% 22%
Net Profit 30 81 97 138 193 160 208 191 208 293 279 360 329
EPS in Rs 24.59 66.68 73.48 104.17 20.82 17.30 11.23 9.94 10.83 15.27 14.53 18.75 17.10
Dividend Payout % 49% 42% 26% 26% 124% 26% 40% 45% 42% 36% 55% 51%
Compounded Sales Growth
10 Years: 11%
5 Years: 11%
3 Years: 13%
TTM: 34%
Compounded Profit Growth
10 Years: 16%
5 Years: 16%
3 Years: 24%
TTM: 14%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 4%
1 Year: -18%
Return on Equity
10 Years: 20%
5 Years: 18%
3 Years: 19%
Last Year: 19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
12 12 13 13 93 93 185 192 192 192 192 192
Reserves 246 202 406 473 499 605 717 1,097 1,199 1,386 1,564 1,771
161 145 475 620 685 1,224 483 217 111 410 729 1,038
364 561 330 438 418 462 1,008 1,060 1,383 1,255 749 825
Total Liabilities 784 919 1,224 1,544 1,694 2,383 2,394 2,565 2,885 3,243 3,233 3,826
99 192 314 453 531 682 700 690 834 899 1,011 997
CWIP 8 110 125 149 138 37 30 114 63 121 15 62
Investments 215 128 132 99 149 482 506 532 547 592 596 686
460 489 653 843 875 1,183 1,158 1,228 1,441 1,631 1,611 2,081
Total Assets 784 919 1,224 1,544 1,694 2,383 2,394 2,565 2,885 3,243 3,233 3,826

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
23 241 67 190 69 43 801 241 363 58 -100 16
-51 -169 -171 -178 -132 -421 -50 -170 -129 -183 -53 -136
47 -96 106 80 -38 386 -734 -97 -232 143 154 106
Net Cash Flow 20 -24 3 92 -101 8 18 -26 1 18 1 -14

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 28 20 24 26 29 40 41 49 50 51 54 41
Inventory Days 41 41 43 46 54 72 74 72 73 54 75 78
Days Payable 34 33 30 33 29 29 28 30 26 14 33 30
Cash Conversion Cycle 36 29 37 40 55 83 87 90 96 91 96 89
Working Capital Days -7 -19 35 34 50 70 14 19 8 27 72 72
ROCE % 11% 32% 30% 23% 24% 17% 18% 22% 20% 22% 17% 18%

Shareholding Pattern

Numbers in percentages

10 recently
Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
69.00 69.08 70.08 70.07 70.07 70.26 70.70 71.65 71.64 71.64 71.64 73.70
3.43 3.39 3.46 3.51 15.35 3.14 2.83 2.82 2.88 2.86 2.43 1.48
2.17 3.67 2.17 2.32 1.95 2.24 1.67 1.32 1.47 1.37 1.61 2.89
25.40 23.86 24.29 24.10 12.63 24.37 24.80 24.21 24.01 24.13 24.33 21.92

Documents

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