Agribusiness firm Godrej Agrovet (GAVL) on Monday said it has formed a strategic partnership with US-based Provivi to introduce sustainable pheromone-based pest control solutions for India's rice and corn farmers. Under the agreement, GAVL will distribute Provivi's YSB Eco-Dispenser for controlling yellow stem borer in rice crops. The company has also secured exclusive commercialisation rights in India for the FAW Eco-Dispenser, which targets fall armyworm in corn. "With changing climatic conditions leading to increased pest challenges, it's more important than ever to empower Indian farmers with innovative, sustainable technologies," GAVL Managing Director Balram Singh Yadav said in a statement. The biodegradable pest control products are expected to be available to Indian farmers by 2029, the companies said. India, a major global rice exporter and significant corn producer, faces ongoing challenges from crop-damaging pests that increase production costs for farmers. "This ...
V-Sciences Investments, an arm of Temasek Holdings, on Friday divested a 1.4 per cent stake in Godrej Agrovet for more than Rs 212 crore through an open market transaction. Temasek Holdings is a state-owned multinational investment firm in Singapore. As of March 31, 2024, the investment company held an SGD 389 billion of portfolio value. According to the bulk deal data available on the National Stock Exchange (NSE), V-Sciences Investments offloaded 27.10 lakh shares, or 1.41 per cent stake, in Godrej Agrovet. The shares were disposed of at an average price of Rs 785.13 apiece, taking the deal value to Rs 212.77 crore. After the stake sale, V-Sciences Investments' holding in Godrej Agrovet has declined to 6.36 per cent from 7.77 per cent. Details of buyers of Godrej Agrovet's shares could not be identified. In May 2022, Temasek trimmed its stake by selling 40 lakh shares of agri firm Godrej Agrovet for Rs 197 crore. Prior to that, the Singaporean global investment company in Febru
The fall in the stock price came after the company's June quarter (Q1FY25) numbers missed the street estimates.
Increases its stake from 51 per cent to 100 per cent
Godrej Agrovet's total revenue from operations fell 6.4 per cent to Rs 2,351 crore while total expenses fell nearly 8 per cent, led by a fall in the cost of materials consumed
Godrej Agrovet (GAVL) on Wednesday said its consolidated net profit jumped to Rs 65.48 crore in the March 2024 quarter from Rs 23.47 crore a year ago. Its total revenue from operations grew 1.87 per cent to Rs 2,134.28 crore during the quarter under review compared to Rs 2,094.99 crore in the year-ago period. "The financial year 2023-34 augured well for Godrej Agrovet in terms of a robust surge in profitability over FY23. This growth in profitability was primarily driven by the exceptional performance of the domestic crop protection business, structural turnaround of the dairy business, market share gains in Animal Feed and robust volume and margin growth in branded products in our poultry business," Godrej Agrovet Managing Director B S Yadav said. Shares of the company on Wednesday closed at Rs 586 apiece, up 4.23 per cent on BSE.
Shares of Godrej Group companies rallied up to 9 per cent in Thursday's trading session after the Group announced a split in the 127-year old family business.
Technical outlook on Godrej group listed stocks: Shares of Godrej family have delivered mind-boggling returns of up to 73 fold in the past years. Here's what to expect in the near term.
Godrej Agrovet has bought 7.37 lakh shares in its subsidiary Godrej Cattle Genetics for Rs 25 crore through the rights issue. Godrej Cattle Genetics Pvt Ltd (GCGPL), the wholly-owned subsidiary of Godrej Agrovert, is engaged in agri-business and its principal business activities includes dairy farming and developing high-breed cattle and cattle embryo. In a regulatory filing on Thursday, the company informed that it has been allotted 7,37,463 fresh equity shares of GCGPL at a face value of Rs 10 per share. "The company has made additional investment aggregating up to Rs 25 crore in the equity share capital of GCGPL by way of subscription to the rights issue," the filing said. Godrej Agrovet had 100 per cent equity in GCGPL. Post acquisition of fresh equity shares, GCGPL will continue to be a wholly-owned subsidiary.
Consolidated net profit fell to Rs 91.84 crore ($11.1 million) for the three months ended Dec. 31 from Rs 116 crore a year earlier, the company said in an exchange filing
The Telangana government on Tuesday said that Godrej Agrovet Company Ltd has expressed interest in setting up an integrated palm oil processing unit in collaboration with Malaysia-based company Sime Darby in Khammam district. A delegation of Godrej Agrovet Company Ltd led by its Managing Director Iram Singh Yadav met Chief Minister Revanth Reddy at the state secretariat here today and held discussions in this regard, an official release said. Reddy promised to extend all kinds of support to expand the existing palm oil and dairy businesses of the company in the state. The chief minister also advised the company to promote skill development as part of its corporate social responsibility. The chief minister suggested that the delegation also explore the state's huge potential in real estate, furniture and consumer goods, the release added. State IT and Industries Minister D Sridhar Babu, Chief Secretary A Santhi Kumari and other officials were also present during the meeting, the ...
Total revenue rose 5% to Rs 2,571 crore, breaking the streak of slowing topline growth since the quarter ended March 2022
Godrej Agrovet, Godrej Industries, Godrej Properties can potentially rally up to 10% from current levels, while Astec Life and Godrej Consumer Products can fall up to 17%, suggest charts.
The company's consolidated net profit rose to 1.05 billion rupees ($12.8 million) in April-June, from 827.1 million rupees a year ago
Godrej Agrovet's Oil Palm Business on Thursday said it has partnered with the State Bank of India (SBI) to offer loans to oil palm farmers for setting up micro irrigation facility and install fencing to protect crops from cattle and improvement of tube well at their oil palm farms. Introduced with an objective of aiding oil palm growth by improving Fresh Fruit Bunches (FFB) productivity, it will act as a catalyst to maintain juvenile gardens during the gestation period of the first 5 years, Godrej Agrovet said in a statement. "The partnership with SBI is a testament of our company's efforts to improve farmer's confidence in sustainable oil palm farming. With no income visibility during the long gestation period, this partnership will aid bridge the gap for their finance needs during the initial years," Godrej Agrovet CEO, Oil Palm Business, Sougata Niyogi said. He further stated that the implementation of National Mission on Edible Oils - Oil Palm (NMEO-OP) has generated a new sense
Godrej Agrovet on Tuesday reported an 83.21 per cent decline in consolidated net profit at Rs 23.47 crore in the quarter ended March 31, 2023. The company's net profit stood at Rs 139.81 crore during the corresponding period of 2021-22, according to a regulatory filing. Revenue from operations of the company during the quarter under review was almost flat at Rs 2,088.80 crore as against Rs 2,075.62 crore in the year-ago period. In FY23, Godrej Agrovet's net profit fell 29.53 per cent to Rs 295.36 crore as compared with Rs 419.15 crore in FY2021-22. Revenue from operations of Godrej Agrovet in FY23 grew 12.78 per cent to Rs 9,352.81 crore from Rs 8,292.93 crore a year ago. Shares of the company on Tuesday settled 0.45 per cent down at Rs 438.05 apiece on the BSE.
Godrej Agrovet Ltd has proposed to invest Rs 100 crore to set up a refining plant for edible oils in Andhra Pradesh. In a statement, the company said it has signed a Memorandum of Understanding (MoU) with the state government on the sidelines of Andhra Pradesh Global Investors Summit (APGIS) 2023. As a part of the MoU, Godrej Agrovet's oil palm business will be making an estimated investment of Rs 100 crore to set up a manufacturing facility for edible oil refinery and solvent extraction plant. The company already has 45,000 hectare area of oil palm plantation area in Andhra Pradesh (AP). The proposed new plant will have a projected refining capacity of 400 tonnes per day and will be set up in Seethanagaram, Eluru District in AP. This is company's first downstream project for value-added products in oil and fats. Balram Singh Yadav, Managing Director of Godrej Agrovet, said, "The MoU is in line with Godrej Agrovet's long-term strategy to be the catalyst in India's oil mission thro
Total revenue from operations grew 13.5% to Rs 2,445 crore
The company's profit stood at Rs 63.38 crore during the corresponding period of the previous fiscal, Godrej Agrovet said in a statement
Agri-business company Godrej Agrovet reported an 8.37 per cent decline in consolidated net profit at Rs 62.39 crore for the quarter ended December 2021.