About the Company:
Godrej Agrovet Limited (GAVL) is an Indian animal feed and agri business company .
company is a diversified, research and development focused agri-business company with operations across five business verticals animal feed, crop protection, oil palm, dairy, and poultry and processed foods.
They are the leading compound animal feed company in India, on the basis of installed capacity for the financial year 2016.
Company also operated dairy business in India & has a Subsidiary, “Creamline Dairy” which sells milk by the brand name “Jersey”.
Company operates a 50:50 joint venture in Bangladesh by the name “ACI Godrej” is the fourth largest feed producer, in terms of sales volume.
Company also operates poultry business in india through joint venture with Tyson India Holding Limited.(subsidiary of Tyson Foods Inc., U.S.A.)
Company owns 56.82% stake in Astec LifeSciences. Astec LifeSciences manufactures agro chemical active ingredients (technical), bulk and formulations as well as intermediate products and sells its products in India as well as exports them to approximately 24 countries.
Company’s Business Verticals:
Animal feed business:
- Products comprises cattle feed, poultry feed (broiler and layer), aqua feed (fish and shrimp) & specialty feed.
- Manufactured at 35 facilities, of which 10 facilities are owned by the company.
- Aggregate production capacity of 2.36 million MT per annum.
- Pan-India distribution network for animal feed products includes approximately 4,000 distributors.
- Operates 50:50 joint venture, ACI Godrej, was incorporated in 2004 and produces cattle, poultry and fish feed in Bangladesh.
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Crop protection business:
- Manufactures a wide range of products that cater to the entire crop lifecycle including plant growth regulators, organic manures, generic agro chemicals and specialized herbicides.
- Distribution network of Company’s crop protection business in India includes approximately 6,000 distributors.
Palm Oil Business:
- Products including crude palm oil, crude palm kernel oil and palm kernel cake.
- Company was recognized as the ‘Highest Crude Palm Oil Producer in the Country’ at the GLOBOIL conference in 2015.
Dairy & Poultry business:
- Company has a subsidiary by the name “Creamline Dairy” which sells a majority of the milk and milk based products under the ‘Jersey’ brand across the states of Telangana, Andhra Pradesh, Tamil Nadu, Karnataka and Maharashtra.
- Dairy distribution network includes approximately 4,000 milk distributors, approximately 3,000 milk product distributors and 50 retail parlors, as well as direct sales to institutional customers.
- Company manufactures and markets processed poultry and vegetarian products through the brands “Real Good Chicken” and “Yummiez”.
- Companies poultry business in india is operated through joint venture with Tyson India Holding Limited.(subsidiary of Tyson Foods Inc., U.S.A.)
- Company has a diversified customer base comprising of retail customers as well as institutional clients such as quick service restaurants, fine dining restaurants, food service companies and hotels.
Management Team:
- Mr.Nadir B. Godrej (Designation: Chairman and Non Executive Director)
- Mr.Adi B. Godrej (Designation: Non Executive Director)
- Mr.Jamshyd N. Godrej (Designation: Non Executive Director)
Objectives of the Issue:
- Repayment or prepayment of working capital facilities availed by the Company.
- Repayment of commercial papers issued by the Company.
- General corporate purposes.
- Listing Benefits.
| Company Contact Info: |
|---|
| Godrej Agrovet Limited Godrej One 3rd Floor, Pirojshanagar Eastern Express Highway Vikhroli (East), Mumbai 400 079 Tel: (91 22) 2519 4416 Fax: (91 22) 2519 5124 Email: gavlinvestors@godrejagrovet.com Website: www.godrejagrovet.com |
| IPO Registrar Info: |
|---|
| Karvy Computershare Private Limited Karvy Selenium, Tower B Plot number 31 & 32 Gachibowli Financial District, Nanakramguda, Hyderabad 500 032 Tel: (91 40) 6716 2222, Fax: (91 40) 2343 1551 E-mail: godrej.agrovet@karvy.com Investor grievance e-mail: einward.ris@karvy.com Website: https://karisma.karvy.com |
| Check IPO Allotment Status: |
|---|
Karvy Websitehttp://kosmic.karvy.com:81/ipotrack/ |
Peer Group Companies:
- Company is engaged in the Business of Animal Feeds, Crop Protection,palm Oil & Dairy and currently there are no listed companies which operates in all these four segments.
Positives for the Company:
- Experienced Promoters and Management Team.
- Pan-India Presence with Extensive Supply and Distribution Network.
- Diversified Businesses with Synergies in Operations.
- Strong Parentage and Established Brands.
- Continuously increasing the Overall Market Share.
Financials of the Company:
| (in Crores) | FY 13 | FY 14 | FY 15 | FY 16 | FY 17 | 30th June 17 |
|---|---|---|---|---|---|---|
| Revenue | 2771.8 | 3117.4 | 3325.5 | 3817.6 | 4983.4 | 1369.4 |
| Net Profit | 96.7 | 156.5 | 210.12 | 261.08 | 274.39 | 74.28 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 4th October 2017 |
| Issue Closes on:. | 6th October 2017 |
| Issue Price Band | Rs.450 – 460 |
| Face Value | Rs.10 |
| Minimum Lot | 32 |
| Minimum Investment | Rs.14,720 |
| Issue Constitutes | 13.12% |
| Issue Size | Rs.1157 cr |
| Market Cap | Rs.8813 cr |
| Listing at | NSE & BSE |
| Equity Shares Offered | 2,51,69,565 |
| Equity Shares Prior | 18,53,23,777 |
| Equity Shares after the issue | 19,16,71,603 |
Important Dates:
| Finalization of Basis of Alottment | on or Before 12th October 2017 |
| Initiation of Refunds | on or Before 13th October 2017 |
| Credit of Equity Shares: | on or Before 13th October 2017 |
| Listing Date: | on or Before 16th October 2017 |
Subscription Details:(will be Updated)
| (Subscription-Category-Wise (no. of times) Till time : 05:15 PM) | Shares Offered | Day-1 | Day-2 | Day-3 |
|---|---|---|---|---|
| QIB | 50,82,882 | 0.2743 | 1.51 | 150.95 |
| NII | 37,50,042 | 0.0933 | 2.066 | 236.04 |
| Retail | 87,50,096 | 0.872 | 2.69 | 7.16 |
| Employee | 4,44,444 | 0.069 | 0.25 | 0.805 |
| TOTAL | 1,80,27,464 | 0.52 | 2.17 | 95.17 |
IPO Valuation parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 10.95 | 42 | 22.71 | 54.54 |
Markets Guruji Opinion:
| IPO View | Apply For: | Expected listing Gain: |
|---|---|---|
| Subscribe | Long Term | 25% |
