Way2wealth has come out with its report on Godrej Agrovet IPO , The research firm has recommended to “ Subscribe ” the IPO in its research report as on October 03, 2017
Godrej Agrovet was incorporated in 1991 in the state of Gujarat. Godrej Agrovet Limited (GAVL), is a diversified, R&D focused agri-business company with operations across five business verticals viz. animal feed, crop protection, oil palm, dairy, and poultry & processed foods. GAVL is the largest crude palm oil producer in India, in terms of market share, & the leader in compound cattle feed in India as of March 2017. The Company made significant investments to enhance R&D capabilities over the years.
At the offer price band of 450-460/- the company is commanding a PE of ~42x its diluted adj. EPS of `10.95/- for FY17 and at m-cap/sales of ~2.0x on its FY17 annualised financials. The company has evolved from cattle feed to an animal protein player. The issue is at a premium valuation but the scope of the company to further build its animal protein business over the years and create a brand Pan India does augur well for the company. We advise investors with a long-term investment horizon to SUBSCRIBE to the issue.
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