Godrej Agrovet Ltd
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]
- Market Cap ₹ 9,361 Cr.
- Current Price ₹ 487
- High / Low ₹ 582 / 400
- Stock P/E 29.6
- Book Value ₹ 123
- Dividend Yield 2.01 %
- ROCE 9.63 %
- ROE 10.5 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 51.6%
- Debtor days have improved from 37.4 to 22.4 days.
- Company's working capital requirements have reduced from 58.6 days to 46.1 days
Cons
- Stock is trading at 3.91 times its book value
- Company might be capitalizing the interest cost
* 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.
Peer comparison
Sector: Miscellaneous Industry: Food - Processing - Indian
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
2,761 | 3,102 | 3,312 | 3,750 | 4,911 | 5,186 | 5,918 | 6,964 | 6,267 | 8,306 | 9,374 | 9,521 | |
2,567 | 2,863 | 3,043 | 3,579 | 4,471 | 4,741 | 5,462 | 6,475 | 5,703 | 7,637 | 8,851 | 8,893 | |
Operating Profit | 194 | 240 | 269 | 171 | 440 | 445 | 456 | 489 | 564 | 669 | 523 | 628 |
OPM % | 7% | 8% | 8% | 5% | 9% | 9% | 8% | 7% | 9% | 8% | 6% | 7% |
11 | 36 | 104 | 315 | 95 | 58 | 154 | 49 | 90 | 109 | 139 | 95 | |
Interest | 49 | 40 | 65 | 98 | 86 | 45 | 34 | 42 | 46 | 63 | 99 | 109 |
Depreciation | 19 | 28 | 37 | 52 | 75 | 86 | 98 | 148 | 154 | 173 | 185 | 206 |
Profit before tax | 137 | 207 | 271 | 336 | 375 | 372 | 477 | 349 | 453 | 542 | 378 | 408 |
Tax % | 29% | 24% | 22% | 22% | 27% | 32% | 27% | 14% | 23% | 23% | 22% | |
97 | 157 | 210 | 261 | 273 | 251 | 349 | 301 | 348 | 419 | 295 | 317 | |
EPS in Rs | 73.04 | 118.36 | 22.69 | 28.19 | 13.44 | 11.94 | 17.13 | 15.94 | 16.33 | 20.96 | 15.71 | 17.35 |
Dividend Payout % | 26% | 23% | 114% | 16% | 33% | 38% | 26% | 34% | 49% | 45% | 60% |
Compounded Sales Growth | |
---|---|
10 Years: | 13% |
5 Years: | 13% |
3 Years: | 10% |
TTM: | 2% |
Compounded Profit Growth | |
---|---|
10 Years: | 10% |
5 Years: | 2% |
3 Years: | -8% |
TTM: | -19% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | -1% |
3 Years: | 0% |
1 Year: | 20% |
Return on Equity | |
---|---|
10 Years: | 18% |
5 Years: | 16% |
3 Years: | 15% |
Last Year: | 10% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 13 | 13 | 93 | 93 | 185 | 192 | 192 | 192 | 192 | 192 | 192 | 192 |
Reserves | 400 | 505 | 548 | 690 | 824 | 1,219 | 1,457 | 1,646 | 1,859 | 2,076 | 2,145 | 2,173 |
479 | 620 | 685 | 1,372 | 664 | 410 | 398 | 651 | 1,024 | 1,599 | 1,433 | 1,564 | |
320 | 435 | 417 | 957 | 1,535 | 1,714 | 2,183 | 2,183 | 1,705 | 1,689 | 1,673 | 1,738 | |
Total Liabilities | 1,212 | 1,573 | 1,742 | 3,111 | 3,208 | 3,535 | 4,230 | 4,672 | 4,779 | 5,556 | 5,444 | 5,667 |
430 | 594 | 693 | 1,507 | 1,473 | 1,492 | 2,051 | 2,156 | 2,281 | 2,407 | 2,568 | 2,720 | |
CWIP | 125 | 149 | 138 | 64 | 50 | 190 | 94 | 153 | 141 | 90 | 204 | 197 |
Investments | 0 | 0 | 37 | 59 | 175 | 195 | 117 | 129 | 124 | 160 | 158 | 150 |
657 | 830 | 873 | 1,481 | 1,509 | 1,657 | 1,969 | 2,233 | 2,234 | 2,900 | 2,513 | 2,599 | |
Total Assets | 1,212 | 1,573 | 1,742 | 3,111 | 3,208 | 3,535 | 4,230 | 4,672 | 4,779 | 5,556 | 5,444 | 5,667 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|
45 | 210 | 109 | 168 | 897 | 354 | 448 | 240 | -10 | -120 | 874 | |
-167 | -190 | -131 | -428 | -63 | -253 | -233 | -255 | -179 | -208 | -284 | |
125 | 73 | -79 | 278 | -812 | -125 | -217 | 36 | 189 | 311 | -594 | |
Net Cash Flow | 2 | 93 | -101 | 18 | 22 | -24 | -2 | 21 | -0 | -17 | -5 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 24 | 27 | 30 | 44 | 39 | 44 | 45 | 45 | 48 | 42 | 22 |
Inventory Days | 45 | 47 | 54 | 83 | 71 | 70 | 72 | 60 | 78 | 83 | 66 |
Days Payable | 30 | 33 | 30 | 42 | 81 | 82 | 99 | 87 | 62 | 40 | 35 |
Cash Conversion Cycle | 40 | 40 | 54 | 85 | 29 | 31 | 18 | 17 | 64 | 84 | 54 |
Working Capital Days | 35 | 33 | 49 | 72 | 22 | 20 | 17 | 23 | 57 | 73 | 46 |
ROCE % | 24% | 24% | 17% | 19% | 20% | 18% | 15% | 16% | 16% | 10% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Updates on Acquisition
2m - Of allotment of Equity Shares by Godrej Cattle Genetics Private Limited (wholly owned subsidiary) to Godrej Agrovet Limited, pursuant to Rights Issue.
- Closure of Trading Window 23h
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
12 Feb - Transcript of conference call of Godrej Agrovet Limited with the Investors and Analysts held on Monday, February 5, 2024 at 3.30 p.m. IST. The aforementioned …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
12 Feb - Transcript of Conference call of Godrej Agrovet Limited with the Investors and Analysts held on Monday, February 5, 2024. The aforesaid information is also available …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
5 Feb - Weblink of conference call with the Investors and Analysts held on Monday, February 5, 2024 at 3.30 p.m.
Annual reports
Concalls
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Feb 2024TranscriptPPT
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Feb 2018TranscriptNotesPPT
Animal Feed Business (50% of FY23 revenues) It is the #1 compound feed player of India & Bangladesh, with presence across cattle, poultry and aqua feed.[1] It owns 30+ manufacturing plants.[2] and also has presence in the animal feed industry in Bangladesh through its joint venture ACI Godrej Agrovet Pvt Ltd [3][4]