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Buy Godrej Agrovet; target of Rs 695: Motilal Oswal

Motilal Oswal is bullish on Godrej Agrovet recommended buy rating on the stock with a target price of Rs 695 in its research report dated May 10, 2022.

May 12, 2022 / 02:33 PM IST
 
 
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Motilal Oswal's research report on Godrej Agrovet


GOAGRO reported a strong operating performance, with robust EBIT growth (up 6x and 55% YoY) in Palm Oil and Crop Protection segments respectively. EBIT margin saw an expansion across segments, except Animal Feed, which was affected by higher input costs.



Outlook


We largely maintain our FY23/FY24 earnings estimate. We value the stock on a SoTP basis to arrive at our TP of INR695. We maintain our Buy rating.

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first published: May 12, 2022 02:33 pm
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