Godrej Agrovet makes a strong debut; Share lists at 34% premium on BSE



India based agri-business company Godrej Agrovet's IPO share lists at 35% premium on BSE. The stock got listed at Rs 621, which was 35% premium to its issue price of Rs 460.

The company is present in five business verticals - animal feed, crop protection, oil palm, dairy, and poultry and processed foods.

Godrej Agrovet Ltd is currently trading at Rs 571.7, up by Rs 111.7 or 24.28% from its previous closing of Rs 460 on the BSE. The scrip opened at Rs 621 and has touched a high and low of Rs 629.85 and Rs 571.2 respectively.

As of March 31, 2017, Godrej Agrovet was the largest crude palm oil producer in India in terms of market share (source: Oil Palm Report).

Its strong parentage and established brands strengthen its position in all business segments.

Godrej Agrovet has a capital efficient and asset-light model. Its animal feed, crop protection, and vegetable oil (oil palm) segments generated higher ROCE of 73%, 59%, and 34% respectively in FY17.

The company’s sales and operating profit have grown at a healthy CAGR of 15.5% and 22.6% (over FY13-17), while adjusted net profit after tax grew at ~24% CAGR over the same period.





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