NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Godrej Agrovet Ltd. reported a healthy operating performance (Ebitda up 17% YoY) in Q3 FY24, driven by improved profitability in crop protection (Ebit up 2.9 times YoY) and dairy (Ebit of ~Rs 102 million versus operating loss of ~Rs 136 million in Q3 FY23).
The animal feed/palm oil businesses posted a muted performance, with Ebit down ~10%/15% YoY. The poultry and processed food business witnessed an operating loss of ~Rs 73 million (versus Ebit of ~Rs 132 million in Q3 FY23).
We largely maintain our Ebitda estimates for FY24/FY25/FY26. We retain our 'Neutral' rating on the stock with our sum-of-the-parts-based target price of Rs 525.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
Strides Pharma Q2 Results Review - U.S. Scaling To New Highs: ICICI Securities
Oct 25, 2024
Godrej Properties To Use Rs 6,000-Crore Fundraise To Boost Growth, Not To Drive Sales
Oct 25, 2024
Godrej Properties Q2 Results Review - Strong Show; Motilal Oswal Maintains 'Buy', Sees 26% Potential Upside
Oct 24, 2024
Financials I Non-Lending Sector Check - Rate Cuts To Boost Flows In Longer-Duration Funds: Motilal Oswal
Sep 30, 2024
POPULAR