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.
Outlook
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.
Read More