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.
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.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.