Godrej Agrovet Ltd.

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godrejagrovet.comBSE: 540743NSE: GODREJAGRO

Market Cap₹ 13,002 Cr.

Current Price

High / Low₹ 742 / 506

Stock P/E29.1

Book Value₹ 111

Price to Book5.08

Dividend Yield1.63 %

ROCE20.9 %

ROE20.3 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Animal Feeds: 46.4% • Vegetable Oil: 18.8% • Dairy: 14.9%

AI Sector View

AI GENERATED

Fast Moving Consumer Goods

Hold

Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.

Confidence

62%

View full sector analysis →

PROS

Company has consistently been profitable over the last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.42x)
Company has been maintaining a healthy dividend payout of 44.7%
Working capital cycle has improved - days down from -1 to -6
Company has a consistent dividend-paying track record
Company generates healthy free cash flow

CONS

Promoter holding has decreased over last 2 years: -6.3pp
Company has delivered a poor profit growth of 5.1% over past five years
Stock is trading at 5.1x its book value

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Fast Moving Consumer GoodsFMCGAnimal Feed

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	GODREJAGRO	675.75	29.10	13002.20	1.63	128.31	-13.79	2855.22	9.68	20.95	8.85
2.	AVANTIFEED	799.05	20.50	10886.71	1.25	116.30	-37.36	1899.87	18.27	28.96	5.57
3.	MUKKA	32.07	13.92	962.10	0.00	18.63	1072.69	489.65	196.98	11.93	9.60
4.	KSE	177.40	12.23	567.68	7.05	0.94	-97.55	453.67	9.06	33.62	-0.05
5.	AJOONI	3.47	13.49	62.89	0.00	4.32	453.14	634.91	1930.54	6.53	2.63

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	2,499	2,567	2,342	2,119	2,343	2,443	2,445	2,125	2,603	2,564	2,713	2,323	2,855
	2,317	2,369	2,186	1,986	2,125	2,225	2,230	1,987	2,345	2,354	2,477	2,194	2,701
Operating Profit	182	197	156	132	219	217	215	138	259	210	236	129	154
OPM %	7.28%	7.69%	6.65%	6.24%	9.33%	8.90%	8.80%	6.52%	9.94%	8.18%	8.72%	5.56%	5.38%
	12	11	8	10	9	13	9	13	12	8	-12	68	15
Interest	29	28	25	25	30	40	34	29	35	40	35	29	30
Depreciation	53	53	53	56	55	58	57	56	58	57	56	58	57
Profit before Tax	122	132	89	77	151	138	138	74	188	125	139	120	181
Tax %	28.92%	27.94%	21.31%	28.47%	22.90%	39.25%	30.10%	27.53%	27.45%	40.71%	26.45%	23.05%	29.16%
Net Profit	0	0	0	0	132	96	110	66	149	84	110	102	128
	5.48	5.48	4.78	2.97	7.03	5.84	5.80	3.68	8.35	4.81	5.97	5.45	6.99

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	4,911	5,186	5,918	6,965	6,268	8,306	9,374	9,561	9,383	10,233	10,455
	4,473	4,743	5,462	6,476	5,704	7,641	8,855	8,859	8,572	9,369	9,726
Operating Profit	438	443	456	488	564	665	519	701	811	863	729
OPM %	8.92%	8.54%	7.70%	7.01%	8.99%	8.01%	5.54%	7.34%	8.64%	8.44%	6.97%
	79	44	141	37	40	62	111	41	49	76	78
Interest	86	45	34	42	46	63	99	108	133	138	133
Depreciation	75	86	98	148	154	173	185	214	226	229	228
Profit before Tax	375	372	477	349	453	542	378	473	554	612	565
Tax %	27.14%	32.47%	26.81%	13.78%	23.29%	22.60%	21.80%	23.95%	27.16%	27.26%	29.74%
Net Profit	273	251	349	301	348	419	295	359	403	445	397
EPS	12.01	11.94	17.13	15.94	16.33	20.96	15.71	18.71	22.35	24.58	—
Dividend Payout %	0.00%	37.70%	26.26%	34.50%	48.98%	45.33%	60.47%	53.44%	49.22%	44.75%	—

COMPOUNDED SALES GROWTH

10 Years:: 9%
5 Years:: 10%
3 Years:: 3%

COMPOUNDED PROFIT GROWTH

10 Years:: 10%
5 Years:: 9%
3 Years:: 16%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 0%
3 Years:: 12%
1 Year:: -8%

RETURN ON EQUITY

10 Years:: 20%
5 Years:: 17%
3 Years:: 17%
Last Year:: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	185	192	192	192	192	192	192	192	192	192
Minority Interest	254	269	401	382	410	420	406	404	222	132
	822	1,218	1,454	1,642	1,855	2,071	2,140	2,318	2,182	1,829
	710	417	409	674	979	1,551	1,354	1,382	1,341	1,437
Trade Payables	841	897	1,240	1,289	778	695	704	628	885	1,651
	395	542	534	494	566	627	647	742	683	920
Total Liabilities	3,208	3,535	4,230	4,672	4,779	5,556	5,444	5,667	5,505	6,161
	1,477	1,496	2,070	2,178	2,298	2,407	2,568	2,806	2,912	2,796
Capital Work in Progress	50	190	92	150	137	81	190	173	40	178
	175	195	117	129	124	160	158	177	139	115
	738	763	899	886	980	1,429	1,344	1,383	1,259	1,358
	0	620	735	853	823	951	574	519	572	673
Cash & Bank	62	32	30	51	51	35	30	53	39	302
	704	238	288	424	367	494	580	556	545	739
Total Assets	3,208	3,535	4,230	4,672	4,779	5,556	5,444	5,667	5,505	6,161

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	977	354	448	240	-10	-120	874	678	969	1,281
Cash from Investing	-63	-253	-237	-255	-179	-208	-284	-327	-82	-150
Cash from Financing	-812	-125	-217	36	189	311	-594	-328	-901	-869
	22	-24	-6	21	-0	-17	-5	23	-13	262

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.03	74.03	67.56	67.56	67.53	67.53	67.65	67.74	67.74
	1.71	2.99	2.94	3.78	4.17	4.70	3.78	3.84	4.05
	4.34	5.87	6.25	5.45	4.97	5.18	5.38	5.86	5.28
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	12.14	12.63	19.10	19.46	20.22	20.08	20.68	20.08	20.50

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-02

Appointment

2026-09-02 - Godrej Agrovet Limited has informed the Exchange regarding Appointment of Ms. Anushree Singh as Chief Human Resources Officer of the company w.e.f. September 07, 2026.

2026-09-02

Spurt in Volume

2026-09-02 - Significant increase in volume has been observed in Godrej Agrovet Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Godrej Agrovet Limited has submitted their response.

2026-09-01

Analysts/Institutional Investor Meet/Con. Call Updates