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 ₹ 14,775 Cr.
- Current Price ₹ 768
- High / Low ₹ 878 / 476
- Stock P/E 40.2
- Book Value ₹ 123
- Dividend Yield 1.30 %
- ROCE 13.7 %
- ROE 14.9 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 53.1%
- Debtor days have improved from 28.0 to 19.8 days.
- Company's working capital requirements have reduced from 53.3 days to 40.8 days
Cons
- Stock is trading at 6.23 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
Part of BSE 250 SmallCap Index Nifty Smallcap 250 BSE 500 Nifty 500 Multicap 50:25:25 Nifty MidSmallcap 400
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 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2,761 | 3,102 | 3,312 | 3,750 | 4,911 | 5,186 | 5,918 | 6,964 | 6,267 | 8,306 | 9,374 | 9,561 | 9,279 | |
2,567 | 2,863 | 3,043 | 3,579 | 4,471 | 4,741 | 5,462 | 6,475 | 5,703 | 7,637 | 8,851 | 8,856 | 8,522 | |
Operating Profit | 194 | 240 | 269 | 171 | 440 | 445 | 456 | 489 | 564 | 669 | 523 | 704 | 757 |
OPM % | 7% | 8% | 8% | 5% | 9% | 9% | 8% | 7% | 9% | 8% | 6% | 7% | 8% |
11 | 36 | 104 | 315 | 95 | 58 | 154 | 49 | 90 | 109 | 139 | 90 | 91 | |
Interest | 49 | 40 | 65 | 98 | 86 | 45 | 34 | 42 | 46 | 63 | 99 | 108 | 120 |
Depreciation | 19 | 28 | 37 | 52 | 75 | 86 | 98 | 148 | 154 | 173 | 185 | 214 | 222 |
Profit before tax | 137 | 207 | 271 | 336 | 375 | 372 | 477 | 349 | 453 | 542 | 378 | 473 | 505 |
Tax % | 29% | 24% | 22% | 22% | 27% | 32% | 27% | 14% | 23% | 23% | 22% | 24% | |
97 | 157 | 210 | 261 | 273 | 251 | 349 | 301 | 348 | 419 | 295 | 359 | 376 | |
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 | 18.71 | 20.62 |
Dividend Payout % | 26% | 23% | 114% | 16% | 33% | 38% | 26% | 34% | 49% | 45% | 60% | 53% |
Compounded Sales Growth | |
---|---|
10 Years: | 12% |
5 Years: | 10% |
3 Years: | 15% |
TTM: | -2% |
Compounded Profit Growth | |
---|---|
10 Years: | 9% |
5 Years: | 8% |
3 Years: | 5% |
TTM: | 6% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 9% |
3 Years: | 13% |
1 Year: | 37% |
Return on Equity | |
---|---|
10 Years: | 17% |
5 Years: | 16% |
3 Years: | 15% |
Last Year: | 15% |
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 | Mar 2024 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 13 | 13 | 93 | 93 | 185 | 192 | 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 | 2,324 | 2,178 |
479 | 620 | 685 | 1,372 | 664 | 410 | 398 | 651 | 1,024 | 1,599 | 1,433 | 1,416 | 1,923 | |
320 | 435 | 417 | 957 | 1,535 | 1,714 | 2,183 | 2,183 | 1,705 | 1,689 | 1,673 | 1,734 | 1,692 | |
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 | 5,985 |
430 | 594 | 693 | 1,507 | 1,473 | 1,492 | 2,051 | 2,156 | 2,281 | 2,407 | 2,568 | 2,806 | 2,972 | |
CWIP | 125 | 149 | 138 | 64 | 50 | 190 | 94 | 153 | 141 | 90 | 204 | 192 | 32 |
Investments | 0 | 0 | 37 | 59 | 175 | 195 | 117 | 129 | 124 | 160 | 158 | 177 | 203 |
657 | 830 | 873 | 1,481 | 1,509 | 1,657 | 1,969 | 2,233 | 2,234 | 2,900 | 2,513 | 2,492 | 2,778 | |
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 | 5,985 |
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 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
45 | 210 | 109 | 168 | 897 | 354 | 448 | 240 | -10 | -120 | 874 | 678 | |
-167 | -190 | -131 | -428 | -63 | -253 | -233 | -255 | -179 | -208 | -284 | -327 | |
125 | 73 | -79 | 278 | -812 | -125 | -217 | 36 | 189 | 311 | -594 | -328 | |
Net Cash Flow | 2 | 93 | -101 | 18 | 22 | -24 | -2 | 21 | -0 | -17 | -5 | 23 |
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 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 24 | 27 | 30 | 44 | 39 | 44 | 45 | 45 | 48 | 42 | 22 | 20 |
Inventory Days | 45 | 47 | 54 | 83 | 71 | 70 | 72 | 60 | 78 | 83 | 66 | 70 |
Days Payable | 30 | 33 | 30 | 42 | 81 | 82 | 99 | 87 | 62 | 40 | 35 | 32 |
Cash Conversion Cycle | 40 | 40 | 54 | 85 | 29 | 31 | 18 | 17 | 64 | 84 | 54 | 58 |
Working Capital Days | 35 | 33 | 49 | 72 | 22 | 20 | 17 | 23 | 57 | 73 | 46 | 41 |
ROCE % | 24% | 24% | 17% | 19% | 20% | 18% | 15% | 16% | 16% | 10% | 14% |
Documents
Announcements
- Intimation Of Allotment Of Area In 3 (Three) Districts By The Gujarat Government For Expansion Of Oil Palm Cultivation 4m
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Intimation Of Receiving Communication From Godrej Foods Limited ('GFL') (Formerly Known As: 'Godrej Tyson Foods Limited'), A Material Subsidiary Of The Company, Regarding Issue Of Audit Report Dropping The Earlier Audit Observations Alleging Liability Which Were Intimated On October 27, 2024
30 Nov - Audit report drops Rs.95.07 Crore liability for Godrej Foods.
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Intimation Of Dispatch Of E-Notices To The Shareholders
28 Nov - Availability of TDS Certificate for Final Dividend 2023-24.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 Nov - Details of investors conference to be attended by the representatives / officials of Godrej Agrovet Limited, to be held on Wednesday, November 13, 2024 from …
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
6 Nov - Transcript of conference call with the Investors and Analysts held on Wednesday, October 30, 2024
Annual reports
Concalls
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Business Segments
1) Animal Feed Business (47% in H1 FY25 vs 50% in FY22): [1] [2] The company is a leading compound feed player across Cattle Milk, Broiler, Layer, Fish and Shrimp feed in India. In addition, it operates a joint venture, ACI Godrej Agrovet Pvt Ltd in Bangladesh. The segment revenue grew by 15% between FY22 and FY24, driven by an overall volume growth of 10% and a sales realization growth of 4%. [3]