Motilal Oswal's research report on Godrej Agrovet
GOAGRO reported a healthy operating performance (EBITDA up 34% YoY), driven by improved profitability across businesses. Animal Feed/Crop protection business witnessed improved margins (EBIT up 16%/10% YoY), while Poultry/Dairy business turned profitable (EBIT of INR149m/INR29m vs. operating loss of INR103m/INR118m in 2QFY23). Palm oil business (EBIT up 5% YoY) is still under pressure, with revenue growth offsetting the decline in margins.
Outlook
We largely maintain our EBITDA estimates for FY24/FY25. We retain our Neutral rating on the stock with an SoTP-based TP of INR480.
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
