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Swing Capital

Godrej Agrovet Ltd

NSE: GODREJAGRO BSE: 540743Agri

Godrej Agrovet Limited is a diversified, Research & Development focused agri-business company, dedicated to improving the productivity of Indian farmers by innovating products and services that sustainably increase crop and livestock yields. It holds leading market positions in the different businesses in which it operates - Animal Feed, Crop Protection, Oil Palm, Dairy and Poultry and Processed Foods. [1]

₹564
52W: ₹506 — ₹876
PE 19.2 · Book ₹151 · +274% vs book
Market Cap₹10,853 Cr
Stock P/E19.2Price to Earnings
ROCE23.4%Return on Capital
ROE20.8%Return on Equity
Div. Yield1.95%Face Value ₹10

Strengths

  • +Company has been maintaining a healthy dividend payout of 45.4%

Weaknesses

  • −The company has delivered a poor sales growth of 11.9% over past five years.
  • −Promoter holding has decreased over last 3 years: -6.33%

Shareholding Pattern

Promoters67.75%
FIIs6.32%
DIIs5.86%
Public20.08%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters74.03%74.02%▼0.067.56%▼6.567.56%67.54%▼0.067.54%67.65%▲0.167.75%▲0.1
FIIs9.48%7.48%▼2.07.1%▼0.47.55%▲0.57.27%▼0.37.21%▼0.16.29%▼0.96.32%▲0.0
DIIs4.34%5.88%▲1.56.25%▲0.45.45%▼0.84.97%▼0.55.18%▲0.25.38%▲0.25.86%▲0.5
Public12.14%12.61%▲0.519.1%▲6.519.47%▲0.420.22%▲0.820.08%▼0.120.69%▲0.620.08%▼0.6

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales1,8201,4971,7411,8481,8691,5502,0072,0002,0701,668
Expenses1,6591,4071,5271,6271,6741,4201,7481,8041,8581,562
Operating Profit16190214222195130259196212105
OPM %9%6%12%12%10%8%13%10%10%6%
Net Profit98361361321666816917711665
EPS ₹5.121.97.096.868.643.548.789.216.013.37

AI Insights

Revenue Trend

Mar 2026 revenue at ₹7,744Cr, up 10.5% YoY. OPM at 10%.

Debt Position

Borrowings at ₹862Cr. Debt-to-equity ratio: 0.32x. Healthy balance sheet.

Capex Cycle

CWIP at ₹177Cr (14% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 5.86% (+0.82pp change). FIIs: 6.32% (-3.38pp change). Promoters hold 67.75%.

Margin & Efficiency

ROCE declining from 24% (Mar 2015) to 23% (Mar 2026). Working capital days: -16.

Valuation

PE 19.2x with 23.4% ROCE. Price is 274% above book value of ₹151. Dividend yield: 1.95%.

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