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Buy Godrej Agrovet; target of Rs 570: Motilal Oswal

Motilal Oswal is bullish on Godrej Agrovet recommended buy rating on the stock with a target price of Rs 570 in its research report dated February 09, 2023.

February 14, 2023 / 22:29 IST
     
     
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    Motilal Oswal's research report on Godrej Agrovet

    GOAGRO reported a muted operating performance, owing to continued volatility in input cost, price erosion in key products, and limited price pass on. Animal Feed (AF) EBIT grew 12% YoY; processed food division turned EBIT positive to INR137m; Crop protection (CP) business witnessed an EBIT decline of 45% YoY, led by adverse product mix, lower demand, and lower realization.

    Outlook

    We largely maintain our FY23/FY24/FY25 earnings estimate and reiterate our Buy rating with an SoTP basis TP of INR570.

    For all recommendations report, click here

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    Godrej Agrovet - 10 -02 - 2023 - moti

    Broker Research
    first published: Feb 14, 2023 10:29 pm

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