Godrej Agrovet Ltd

About [ edit ]

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. #

Key Points [ edit ]
  • Market Cap 9,812 Cr.
  • Current Price 511
  • High / Low 569 / 349
  • Stock P/E 29.6
  • Book Value 100
  • Dividend Yield 1.08 %
  • ROCE 17.7 %
  • ROE 17.6 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 32.82%

Cons

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
1,195 1,484 1,588 1,454 1,391 1,703 1,851 1,783 1,628 1,554 1,724 1,526
1,125 1,345 1,448 1,353 1,317 1,561 1,731 1,682 1,501 1,388 1,551 1,414
Operating Profit 70 139 141 101 74 142 120 101 126 166 173 112
OPM % 6% 9% 9% 7% 5% 8% 6% 6% 8% 11% 10% 7%
Other Income 11 12 36 8 99 17 12 15 6 18 26 23
Interest 8 8 8 10 7 10 13 11 8 13 10 6
Depreciation 22 22 24 26 26 35 37 37 38 37 39 39
Profit before tax 51 120 144 73 140 113 81 68 86 134 150 90
Tax % 38% 33% 31% 33% 14% 31% -26% 25% 20% 25% 23% 24%
Net Profit 25 80 94 41 114 76 104 52 75 89 107 62
EPS in Rs 1.30 4.18 4.90 2.13 5.92 3.96 5.42 2.69 3.88 4.61 5.57 3.21

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 TTM
2,761 3,102 3,312 3,750 4,911 5,186 5,918 6,964 6,432
2,567 2,861 3,006 3,454 4,473 4,742 5,462 6,475 5,854
Operating Profit 194 241 306 296 438 443 456 489 578
OPM % 7% 8% 9% 8% 9% 9% 8% 7% 9%
Other Income 11 34 67 190 98 60 154 50 73
Interest 49 40 65 98 86 45 34 42 37
Depreciation 19 28 37 52 75 86 98 148 153
Profit before tax 137 207 271 336 375 372 477 349 461
Tax % 29% 24% 22% 22% 27% 32% 27% 14%
Net Profit 97 157 210 261 249 229 329 306 332
EPS in Rs 73.04 118.36 22.69 28.19 13.44 11.94 17.13 15.94 17.27
Dividend Payout % 26% 23% 114% 16% 33% 38% 26% 34%
Compounded Sales Growth
10 Years:%
5 Years:16%
3 Years:12%
TTM:-4%
Compounded Profit Growth
10 Years:%
5 Years:11%
3 Years:12%
TTM:21%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:-10%
1 Year:29%
Return on Equity
10 Years:%
5 Years:19%
3 Years:17%
Last Year:18%

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 Sep 2020
13 13 93 93 185 192 192 192 192
Reserves 400 505 548 690 824 1,219 1,457 1,646 1,738
Borrowings 479 620 685 1,372 664 410 398 642 451
320 435 417 957 1,535 1,714 2,183 2,192 2,367
Total Liabilities 1,212 1,573 1,742 3,111 3,208 3,535 4,230 4,672 4,749
430 594 693 1,507 1,473 1,492 2,051 2,156 2,276
CWIP 125 149 138 64 50 190 94 153 104
Investments 0 0 37 59 175 195 117 129 133
657 830 873 1,481 1,509 1,657 1,969 2,233 2,236
Total Assets 1,212 1,573 1,742 3,111 3,208 3,535 4,230 4,672 4,749

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
45 210 109 168 897 354 448 240
-167 -190 -131 -428 -63 -253 -233 -255
125 73 -79 278 -812 -125 -217 36
Net Cash Flow 2 93 -101 18 22 -24 -2 21

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 24% 24% 18% 22% 23% 21% 18%
Debtor Days 24 27 30 44 39 44 45 45
Inventory Turnover 8.50 7.51 5.70 5.51 5.40 5.63 6.17

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
68.79 68.79 68.79 68.95 68.95 69.00 69.08 70.08 70.07 70.07 70.26 70.70
2.56 2.57 2.99 3.13 3.25 3.43 3.39 3.46 3.51 15.35 3.14 2.83
16.59 3.38 2.88 2.82 2.73 2.17 3.67 2.17 2.32 1.95 2.24 1.67
12.07 25.26 25.34 25.11 25.07 25.40 23.86 24.29 24.10 12.63 24.37 24.80

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