GODREJAGRO

Sept 2 (Reuters) - Godrej Agrovet GODE.NS:

• SUNIL KATARIA ASSUMES ROLE AS CEO AND MD

Source text: ID:nBSE7YT3Kx

Further company coverage: GODE.NS

(Reporting by Rudra Singh)

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** Shares of Godrej Agrovet GODE.NS rise 2.6% to 832 rupees

** Co's Q1 consol profit rises 18.8% Y/Y to 1.61 bln rupees ($18.4 mln)

** Q1 consol total revenue jumps 11.2% Y/Y to 26.14 bln rupees

** Stock set to snap three-session losing streak

** GODE up ~12% YTD

($1 = 87.6780 Indian rupees)

(Reporting by Vijay Malkar)

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** India's Godrej Agrovet GODE.NS rises over 4% to 697.25 rupees

** Kotak Institutional Equities upgrades to "buy" from "add", saying steep post-Q4 earnings drop was unwarranted

** GODE tumbled 13.6% on Friday in biggest ever one-day drop

** Kotak says results were subdued but along expected lines and in a seasonally slow quarter

** Over 1.5 mln shares traded, ~6x the 6-month daily avg

** YTD, stock down 6.2%

(Reporting by Vivek Kumar M)

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Godrej Agrovet Ltd GODE.NS:

• GODREJ AGROVET LTD - RECEIVES ORDER FROM INCOME TAX DEPARTMENT

• GODREJ AGROVET LTD - ASSESSING OFFICER RAISES TAX DEMAND OF 240 MILLION RUPEES

Source text: ID:nBSEbgWr4H

Further company coverage: GODE.NS

** Food and agri conglomerate Godrej Agrovet GODE.NS gains 2.4% to 777.2 rupees

** Co unveils FY26 strategy for subsidiary that operates the dairy brand "Godrej Jersey"

** Targets 10 bln rupees ($116.3 mln) in value added portfolio in the states of Telangana and Andhra Pradesh

** Seeks to expand distribution to 20,000 outlets in Telangana

** Says will ramp up marketing to increase household penetration for products such as almond milk and cottage cheese

** GODE adds 54.8% in the last 12 months

($1 = 85.9750 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru)

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** Shares of Godrej Agrovet GODE.NS rise 1.8% to 749.60 rupees

** Co to acquire remaining 48.06% stake in Creamline Dairy Products for 9.3 bln rupees ($106.7 mln)

** Trading vols at 266,941 shares, over 1x the 30-day average

** Stock set to snap three session losing streak

** GODE up ~1% in 2025 vs 33.4% gains in 2024

($1 = 87.2010 Indian rupees)

(Reporting by Vijay Malkar)

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March 11 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• ACQUISITION OF 48.06% STAKE IN CREAMLINE DAIRY PRODUCTS

• DEAL FOR 9.3 BILLION RUPEES

Further company coverage: GODE.NS

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Jan 31 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• GODREJ AGROVET - TO RAISE FUNDS VIA ADDITIONAL BORROWINGS UPTO 10 BILLION RUPEES

Source text: ID:nBSE5BWRpz

Further company coverage: GODE.NS

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By Divya Chowdhury and Praveen Paramasivam

DAVOS, Switzerland, Jan 20 (Reuters) - India's economic slowdown is not expected to show up in the country's housing market, Godrej Industries Group Chairperson Nadir Godrej said in an interview on Monday.

Godrej, an Indian conglomerate which mainly targets the "middle category" of India's housing sector, is keeping a close watch on its debt given the cyclical nature of the business and is hopeful of riding out a potential down cycle, he added.

India forecast its slowest economic growth in four years for the year ending March, weeks after the country's central bank lowered its growth outlook for the next financial year.

Middle class Indians in the country's major cities are already cutting spending due to persistent inflation.

A slowdown is not evident in the housing sector, which struggles during downturns, and nor is one imminent, Godrej told the Reuters Global Markets Forum on the sidelines of the World Economic Forum's annual meeting in Davos, Switzerland.

A Reuters poll published last month forecast house prices in India will rise steadily over the coming years, driven mainly by demand from wealthy individuals. But rising inflation will make owning a property unattainable for most.

Godrej's group, which has annual revenue of more than $6 billion, includes Godrej Properties GODR.NS as well as animal feed and vegetable oil manufacturer Godrej Agrovet GODE.NS and Cinthol soapmaker Godrej Consumer Products GOCP.NS.

Godrej said India's rural economy is improving due to an increase in consumption in villages.

(Join GMF, a chat room hosted on LSEG Messenger, for live interviews: https://lseg.group/4ajdDTy)

(Reporting by Divya Chowdhury in Davos and Praveen Paramasivam in Chennai; Editing by Alexander Smith)

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Oct 29 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• Q2 CONSOL NET PROFIT 1.12 BILLION RUPEES

• Q2 CONSOL TOTAL REVENUE FROM OPERATIONS 24.49 BILLION RUPEES

Source text: ID:nBSE52Q2mp

Further company coverage: GODE.NS

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By Rajendra Jadhav

MUMBAI, Sept 20 (Reuters) - India's palm oil production is likely to triple in six years as the area under oil palm plantations increases and as plantations become mature for harvesting, a senior industry official said on Friday.

The world's biggest edible oil importer relies on Indonesia, Malaysia and Thailand for palm oil supplies. An increase in production will help India slash edible oil imports that account for nearly two-thirds of its total consumption.

India's palm oil production is likely to jump to 1.2 to 1.5 million metric tons by 2030-31 from the current 400,000 tons, as farmers have been expanding the area, said Sougata Niyogi, chief executive officer of the oil palm plantation division at India's biggest palm oil producer, Godrej Agrovet Ltd GODE.NS.

Oil palm trees start yielding fruit 3-4 years after planting, with yields increasing significantly at around 6 years.

The oil palm area has been rising at a rapid pace since New Delhi started providing incentives to farmers from 2021 to curb vegetable oil imports, which cost it $15 billion in the last fiscal year.

The area under oil palm cultivation increased to 375,000 hectares (926,600 acres) by last year, and an additional 80,000 to 100,000 hectares is likely to be added this year, Niyogi told Reuters on the sidelines of the Globoil India conference.

"Government policies are helping farmers expand their planting areas. The new plantations should be ready for harvest by 2030-31, and that's when we'll see a big jump in production," he said.

India currently imports around 16 million tons of vegetable oils per annum, including 9 to 10 million tons of palm oil, mainly from Indonesia, Malaysia and Thailand.

Godrej Agrovet expects its palm oil production to double to 250,000 tons by 2030-31, Niyogi said.

Two years ago, there was a shortage of sprouts, which India imports to produce seedlings, but now enough sprouts are available to accelerate oil palm planting, he said.

(Reporting by Rajendra Jadhav; Editing by Muralikumar Anantharaman)

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Aug 7 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• INTENDS TO ENTER INTO DEFINITIVE AGREEMENT WITH GODREJ PET CARE

Further company coverage: GODE.NS

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BENGALURU, August 1 (Reuters) - India's Godrej Agrovet GODE.NS reported a 28.3% rise in first-quarter profit on Thursday, helped by falling input costs.

Consolidated net profit rose to 1.35 billion rupees ($16.1 million) for the three months ended June 30 from 1.05 billion rupees a year earlier.

During the quarter, which saw parts of the country experiencing heatwaves and floods, prices of food, which account for nearly half of India's retail inflation, rose more than 8% each month, adding pressure on the spending power of the rural consumers.

Godrej Agrovet's total revenue from operations fell 6.4% to 23.51 billion rupees while total expenses fell nearly 8%, led by a fall in the cost of materials consumed.

The animal feed business, which includes cattle and fish feed and forms nearly half of the company's revenue, fell 10%.

Revenue from crop protection and poultry and processed food businesses declined 4.6% and 24.5%, respectively, while dairy and vegetable oil saw a slight uptick.

As part of its expansion plans, Godrej Agrovet will set up a new feed plant in Maharashtra state with an initial investment of 1.10 billion rupees.

Its shares ended 3.9% lower.

($1 = 83.7070 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Mrigank Dhaniwala)

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** Shares of most Godrej group companies fall after conglomerate announces restructuring

** Godrej Properties GODR.NS and Godrej Industries GODI.NS drop 6% and 7.2%, respectively

** GODR top loser in Nifty Realty .NIFTYREAL and among top losers in mid-cap index .NIFMDCP100; GODI among top losers in Nifty 500 .NIFTY500

** Astec Lifesciences ASTE.NS sheds ~3%, while Godrej Consumer Products GOCP.NS and Godrej Agrovet GODE.NS up 0.5% and 3% respectively

** Godrej family has decided to restructure its shareholding in the conglomerate to operate as two entities - Godrej Enterprises Group and Godrej Industries Group

** "Restructuring rules out any potential option value that could have emerged from the Vikhroli land (in Mumbai) for Godrej Properties," says CLSA, reiterating a "sell" recommendation on rich valuations

** Godrej Industries Group operates via listed companies including Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences

(Reporting by Bharath Rajeswaran and Hritam Mukherjee in Bengaluru)

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Corrects to "agrees" from "agree" in headline

BENGALURU, May 1 (Reuters) - India's Godrej family has decided to restructure its shareholding in the conglomerate to operate as two entities, Godrej Enterprises and Godrej Industries, according to a filing late on Tuesday.

The realignment will be implemented after the relevant regulatory approvals have been obtained, after which the two companies will continue to use the Godrej brand, it added.

Godrej Enterprises Group (GEG) will be headed by 75-year-old Jamshyd Godrej as chairperson and managing director and his niece Nyrika Holkar as executive director.

GEG operates across aerospace, aviation, defence and liquid engines among others.

Jamshyd Godrej was earlier serving as managing director and chairman of Godrej & Boyce, the privately held company, founded in 1897.

Nadir Godrej, 73, will serve as chairperson of Godrej Industries Group (GIG), which operates via listed companies including Godrej Industries GODI.NS, Godrej Consumer Products GOCP.NS, Godrej Properties GODR.NS, Godrej Agrovet GODE.NS and Astec Lifesciences ASTE.NS. GIG will be controlled by Nadir's brother Adi Godrej and their immediate family.

82-year-old Adi Godrej stepped down as chairman of Godrej Industries in August 2021, handing over the reign to his brother, Nadir Godrej.

Adi Godrej's son Pirojsha Godrej will be named chairperson of GIG, succeeding Nadir Godrej in August 2026.

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Eileen Soreng)

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** Shares of Godrej Agrovet Ltd GODE.NS fall as much as 5.3% to 506.15 rupees

** Animal feed maker says unit got assessment order from Commercial Taxes Department with penalty of 58.1 mln rupees ($696,387.18)

** Adds, co proposes to challenge the order before the higher courts/authorities

** Stock on track to lose for 4th straight day

** More than 134,000 shares traded as of 1:45 p.m. IST, busiest day yet since April 4

** Mean rating of 7 brokerages rating the stock is "Buy"; median PT is 570 rupees - LSEG data

** GODE last down 2.9%, adding to YTD losses of ~7%

($1 = 83.4306 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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** Shares of agribusines firm Godrej Agrovet GODE.NS fall 3.3% to 547.8 rupees, log steepest drop since Oct.

** Fall in shares after co's Q3 profit shrank 21%, hurt by weak demand and inventory destocking; rev from ops rose marginally by 0.8%

** Co had reported 47% growth in Q2 profit on Nov 3, shares gained ~17% since then until last close

** Despite Friday's losses, shares up 2.4% this week after three straight weeks of losses

** Shares gained ~19% in 2023

** Analysts' avg rating is equivalent of "hold", their median PT is 480 rupees - at 15.3% discount on last close - LSEG data

(Reporting by Manvi Pant in Bengaluru)

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Feb 1 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• DEC-QUARTER CONSOL NET PROFIT 918.4 MILLION RUPEES VERSUS 1.16 BILLION RUPEES

• DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 23.45 BILLION RUPEES VERSUS 23.24 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: GODE.NS

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** Kotak Institutional Equities says exuberance around interest rate cuts, supply issues on chemical stocks could wane as sector still has growth issues in 2024

** Some stocks like Atul ATLP.NS, Aarti Industries ARTI.NS , Rallis India RALL.NS, SRF SRFL.NS, Tata Chemicals TTCH.NS, National Fertilizers NAFT.NS, Godrej Agrovet GODE.NS have rallied between 7%-17% in December

** Current data around chemical demand and pricing remains soft, demand still weak - brokerage

** 2024 outlook for crop commodities is quite mixed with low reservoir levels in India and lower agri commodity prices in U.S., Kotak says

** Import prices into India remain weak, as do export prices out of the U.S. - brokerage

(Reporting by Sethuraman NR in Bengaluru)

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** Shares of India's Godrej Agrovet GODE.NS up as much as 4.37% at 493 rupees, in sharpest intraday pct climb since Oct. 6

** The agribusiness firm posted a near 47% jump in consol Q2 net profit to 717.6 mln rupees ($8.63 mln) while total rev rose 5%

** Stock set to rise for the fourth consecutive session, if gains hold

** More than 103,961 shares changed hands by 9:30 a.m. IST, 0.6x 30-day

** Mean recommendation of 7 analysts tracking stock is "hold", median TP is 482.5 rupees - LSEG data

** Stock last up 3.5%, taking YTD gains to about 3.2%

($1 = 83.1675 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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BENGALURU, Nov 3 (Reuters) - India's Godrej Agrovet GODE.NS reported a near-47% jump in second-quarter profit on Friday as a pickup in rainfall in September uplifted the sale of its farm feed products.

The company's consolidated net profit rose to 1.05 billion rupees ($12.61 million) for the three months ended Sept. 30 from 717.6 million rupees a year earlier.

A late monsoon revival aided sowing and other farm activities, pushing up sales volumes of Godrej Agrovet's products such as cattle, poultry and aqua feed.

Animal feed business forms half of the company's topline. Cattle and aqua feed volumes grew 16% and 15%, respectively, year-on-year, it said in a statement.

Total revenue rose 5% to 25.71 billion rupees, breaking the streak of slowing topline growth since the quarter ended March 2022.

Analysts had earlier flagged fears of a sluggish demand, on the back of the weakest monsoon in five years.

Godrej Agrovet's core profit margins in the quarter expanded to 8.3% from 6.5% a year earlier.

Analysts were betting on a rainfall-led improvement across all segments to drive margin expansion, despite stressed prices due to higher inventories and oversupply from China.

The company, which also operates in vegetable oil, dairy and crop protection businesses, saw its total expenses inch about 3.5%.

Shares of Godrej Agrovet closed 1.43% up on Friday ahead of the results.

($1 = 83.2700 Indian rupees)

(Reporting by Navamya Ganesh Acharya and Hritam Mukherjee in Bengaluru; Editing by Sohini Goswami)

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Sept 28 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• ENTERING INTO A STRATEGIC PARTNERSHIP AGREEMENT WITH SIME DARBY PLANTATION BERHAD

• SDP TO SUPPLY HIGH-QUALITY OIL PALM SEEDS TO CO'S OIL PALM BUSINESS UNIT

• SDP TO LATER SET UP A SEED PRODUCTION UNIT IN INDIA

Further company coverage: GODE.NS

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** Shares of agribusiness co Godrej Agrovet GODE.NS rise as much as 6.59% to 520 rupees

** Co reported 27.3% Y/Y rise in June-qtr consolidated net profit on Tuesday, just before market close

** Share price above 50-day, 100-day and 200-day exponential moving averages, suggesting bullish trend

** More than 1.7 mln shares change hands by 12:36 p.m. IST, 7.4x 30-day avg

** Avg rating of 7 analysts equivalent of "hold", median PT is 462.50 rupees - Refinitiv data

** Stock up 5.1% this year

(Reporting by Ashish Chandra in Bengaluru)

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Aug 1 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• JUNE-QUARTER CONSOL NET PROFIT 1.05 BILLION RUPEES VERSUS 827.1 MILLION RUPEES

• JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 25.10 BILLION RUPEES VERSUS 25.1 BILLION RUPEES

Source text for Eikon: ID:nNSEmQTQS

Further company coverage: GODE.NS

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July 18 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• ALLOTTED POTENTIAL AREA OF 47,000 ACRE IN TELANGANA BY DEPARTMENT OF AGRICULTURE AND COOPERATION, GOVERNMENT OF TELANGANA

• ALLOTTED AREA WILL BE UTILIZED BY CO TO EXPAND CULTIVATION OF OIL PALM AND TO SET UP OIL PALM PROCESSING UNITS

Source text for Eikon: ID:nNSEGlYTt

Further company coverage: GODE.NS

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** Shares of Godrej Agrovet Ltd GODE.NS down 3.7% at 422.60 rupees, set for biggest one-day drop since May 2022

** Agribusiness co reports a 74.6% slump in Q4 profit due to higher costs and weak performance in its vegetable oil and crop protection business

** Shares hit their lowest since April 3; on track for a third consecutive session of loss, if trends hold

** Stock falls below its 50-day moving average; continues to stay below 100- and 200-day moving averages

** Trading vol by 9:33 a.m. IST already 2.5x the 30-day avg

** The avg rating of the 8 analysts covering the stock is "buy" and median PT is 570 rupees - Refinitiv data

** Stock is down ~10% YTD, after falling 9.3% in 2022 and 3.2% in 2021

(Reporting by Dimpal Gulwani in Bengaluru)

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BENGALURU, May 9 (Reuters) - India's Godrej Agrovet Ltd GODE.NS reported a 74.6% fall in quarterly profit on Tuesday, hurt by higher costs and weakness in its vegetable oil and crop protection business.

Consolidated net profit at the company, which competes with Venky's (India) VENK.NS and Kaveri Seed KVRI.NS among others, fell to 310.2 million rupees ($3.79 million) in the seasonally weak fourth quarter ended March 31, from 1.22 billion rupees a year ago.

Companies like Godrej Agrovet, which sell animal-feed to poultry farmers and produce crude palm oil, have seen their profit squeezed due to higher inventory costs. Some analysts have also warned that rising concerns tied to the El-Niño weather pattern could hurt them.

Finance costs at the Godrej Group-owned company rose about 50%, while total revenue from operations rose at a meager 0.7%. It saw a 22.8% sales drop in its vegetable oil arm and 31.4% decline in its crop protection business. Sales at its mainstay animal-feed arm rose 10.2%.

Shares of the Temasek-backed firm have fallen ~6% this year as of today's close.

($1 = 81.7800 Indian rupees)

(Reporting by Biplob Kumar Das in Bengaluru)

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