Moneycontrol PRO
Live Now |Traders Carnival 15th Edition - 3 days 12 sessions Virtual Event brought to you by Moneycontrol Pro

Buy Godrej Agrovet; target of Rs 760: Motilal Oswal

Motilal Oswal is bullish on Godrej Agrovet recommended buy rating on the stock with a target price of Rs 760 in its research report dated August 11, 2021.

August 19, 2021 / 02:13 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Motilal Oswal's research report on Godrej Agrovet


GOAGRO registered robust revenue growth due to a recovery in demand across segments. The Animal Feed and Palm Oil business drove performance on the back of a demand uptick and price hike. EBITDA margin contracted by 220bp YoY due to a surge in commodity prices, thereby affecting gross margin.



Outlook


We largely maintain over earnings estimate for FY22E/FY23E, as its 1Q performance was broadly in line with our estimates and the continued demand recovery across segments. We value the stock on a SoTP basis to arrive at our TP of INR760. 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.

Broker Research
first published: Aug 19, 2021 02:13 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark