Buy Godrej Agrovet: target of Rs 855: ICICI Securities
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓ICICI Securities recommends a buy on Godrej Agrovet with a target price of Rs 855.
- ✓The company reported revenue of INR 30bn in Q2FY27, showing 17% growth.
- ✓While animal feed and vegetable oil segments performed well, dairy and crop protection faced pressure.
Story at a Glance
- Category
- Indian Markets
- Reported By
- MoneyControl
- Reading Speed
- 1 Minute(s)
- Market Focus
- India Economy
ICICI Securities research report on Godrej Agrovet Godrej Agrovet (GOAGRO) reported recurring EBITDA/PAT of INR 2/INR 1.2bn in Q2FY27, down 6%/up 24% YoY. Revenue grew 17% YoY to INR 30bn, driven by animal feed, vegetable oil and B2C foods, while EBITDA margin contracted to 6.7% on weakness in crop protection and dairy. Animal feed EBIT rose 32% YoY, and vegetable oil volumes (FFB +14% YoY) stayed strong, with the PKO derivatives plant commissioned on 1 Sep'26. Management retains double-digit FFB volume growth guidance for FY27/FY28. Crop protection, Astec and dairy are likely to stay under pressure in the near term, while Godrej Foods (B2C +50% YoY) and the ACI Godrej Bangladesh JV are emerging as growth drivers. Outlook We cut FY27E/FY28E EPS by 5%/1.5%, to factor in weaker performance in dairy, poultry and crop protection segments.
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