Review

GODREJ AGROVET LTD. 

Ticker : 540743
FV : Rs 10  
52-Week H/L: Rs 568.70/349.15 

We had previously recommended Godrej Agrovet in volume 37, no. 09, dated December 21, 2020, when the scrip was trading at Rs 549.60. It was recommended based on the reasoning that the revival of the company’s agricultural business & advancement in technologies will positively benefit its growth trend. On a consolidated quarterly basis, Godrej Agrovet reported a 14.41 per cent decrease in net sales to be Rs 1,523.44 crore for Q3FY21 as compared to Rs 1,779.90 crore for Q3FY20. PBDT for Q3FY21 was reported at Rs 119.25 crore, expanding by 20.26 per cent from Rs 99.16 crore posted in Q3FY20. Net profit for Q3FY21 rose by 28.59 per cent to Rs 58.20 crore from Rs 45.26 crore gained in Q3FY20. Godrej Agrovet is expected to benefit from various products scheduled to be launched over the next few years. Hence, we recommend HOLD.