Godrej Agrovet Ltd

Godrej Agrovet Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Godrej Agrovet Ltd

₹ 735 2.78%
15 Jan 1:42 p.m.
godrejagrovet.com BSE: 540743 NSE: GODREJAGRO
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

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]

Website BSE NSE
  • Market Cap ₹ 14,134 Cr.
  • Current Price ₹ 735
  • High / Low ₹ 878 / 476
  • Stock P/E 38.5
  • Book Value ₹ 123
  • Dividend Yield 1.36 %
  • ROCE 13.7 %
  • ROE 14.9 %
  • Face Value ₹ 10.0
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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 5.92 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 BSE 400 MidSmallCap Index BSE 500 BSE Fast Moving Consumer Goods Nifty 500

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
2,154 2,078 2,081 2,510 2,445 2,324 2,095 2,510 2,571 2,345 2,134 2,351 2,449
1,964 1,942 1,912 2,348 2,295 2,187 2,020 2,317 2,369 2,186 1,986 2,125 2,225
Operating Profit 190 136 169 162 150 136 75 193 201 159 148 226 223
OPM % 9% 7% 8% 6% 6% 6% 4% 8% 8% 7% 7% 10% 9%
17 5 69 20 13 84 23 32 20 21 20 25 25
Interest 16 16 18 22 26 25 27 29 28 25 25 30 40
Depreciation 42 44 46 45 46 47 48 53 53 53 56 55 58
Profit before tax 150 80 174 116 92 148 23 142 141 102 87 166 150
Tax % 25% 22% 20% 24% 24% 23% -4% 25% 26% 19% 25% 21% 36%
112 62 140 88 70 115 23 107 104 83 65 132 96
EPS in Rs 5.69 3.39 6.37 4.30 3.73 6.06 1.61 5.48 5.48 4.78 2.97 7.03 5.84
Raw PDF

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: 5%
3 Years: 9%
1 Year: 30%
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%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
71.64% 71.64% 73.70% 74.07% 74.07% 74.06% 74.04% 74.05% 74.05% 74.05% 74.03% 74.02%
2.86% 2.43% 1.48% 1.64% 9.73% 9.70% 9.70% 9.55% 9.44% 9.43% 9.48% 7.48%
1.37% 1.61% 2.89% 5.17% 5.19% 5.01% 5.04% 5.09% 5.49% 5.09% 4.34% 5.88%
24.13% 24.33% 21.92% 19.12% 11.01% 11.23% 11.21% 11.31% 11.04% 11.44% 12.14% 12.61%
No. of Shareholders 1,00,7671,03,4761,08,4151,12,1231,11,8721,12,5111,10,0201,08,6411,02,8991,02,65399,6741,26,487

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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