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Godrej Agrovet Ltd.

BSE: 540743 Sector: Agri and agri inputs
NSE: GODREJAGRO ISIN Code: INE850D01014
BSE 00:00 | 24 Jan 503.55 -16.85
(-3.24%)
OPEN

523.00

HIGH

523.15

LOW

500.00

NSE 00:00 | 24 Jan 502.20 -18.45
(-3.54%)
OPEN

527.45

HIGH

527.45

LOW

497.75

OPEN 523.00
PREVIOUS CLOSE 520.40
VOLUME 10705
52-Week high 746.80
52-Week low 469.70
P/E 31.75
Mkt Cap.(Rs cr) 9,674
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 523.00
CLOSE 520.40
VOLUME 10705
52-Week high 746.80
52-Week low 469.70
P/E 31.75
Mkt Cap.(Rs cr) 9,674
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Godrej Agrovet Ltd. (GODREJAGRO) - Company History

Godrej Agrovet Limited (GAVL) is a diversified Research & Development focused agri-business company dedicated to improving the productivity of Indian farmers by innovating products and services that sustainably increase crop and livestock yields. The Company holds leading market positions in the different businesses in which it operates - Animal Feed Crop Protection Oil Palm Dairy and Poultry and Processed Foods.GAVL has a pan India presence with sales of over a million tonnes annually of high quality feed and cutting-edge nutrition products for cattle poultry aqua feed and specialty feed. Apart from these businesses the company has two joint ventures - one with Tyson Foods Inc. USA in the processed poultry segment and other one with the ACI group of Bangladesh for animal feed business in Bangladesh.Godrej Agrovet Limited was incorporated as a private limited company with the name 'Godrej Agrovet Private Limited' on November 25 1991 in the state of Gujarat. The company became a deemed public limited company and the word 'private' was struck off from the name of the Company with effect from April 27 1992.In 1992 the company acquired the agrovet division of Godrej Soaps Limited. In 1997 the company acquired the oil palm business from Godrej Soaps Limited. In 1999 the company acquired poultry business from IPF Breeders Private Limited.The company was converted into a public limited company and the name of the company was changed to Godrej Agrovet Limited' on February 19 2002. In 2004 the company entered into a joint venture with the Advanced Chemical Industries Limited (ACI) Group from Bangladesh to manufacture and sell Compound Feed. The ACI-Godrej Agrovet joint venture ranks among the top three feed companies across all categories in Bangladesh.The company entered the dairy business with acquisition of 26% equity interest in Creamline Dairy Products Limited in 2005. Creamline Dairy Products has significant presence in Andhra Pradesh Telangana Tamil Nadu Karnataka and Maharashtra under the 'Jersey' Brand name. It also has a very interesting value-added product portfolio like Curd Flavored Yogurt and Ice Cream among others. During the year under review the company acquired 26% stake in Polchem Hygiene Laboratories Private Limited. During the year under the company acquired shrimp feed business from Higashimaru Feeds (India) Limited.In 2012 V-Sciences made investment in Godrej Agrovet Limited by acquiring 19.99% equity stake. In 2015 Godrej Agrovet acquired promoter holding in Astec Life Sciences Limited. Astec is a business to-business tech bulk manufacturer of fungicides in India. It also has a contract manufacturing presence and counts multinational agro chemical companies like Sumitomo and Nufarm among its clients. It has established a successful track record in nurturing stable and long term relationships with highly reputed companies in U.S.A. Europe West Asia South East Asia and Latin America.During the year under review Godrej Agrovet increased its stake from 26% to 52% in Creamline Dairy.In 2016 Godrej Agrovet sold its 26% stake in Polchem Hygiene Laboratories Private Limited.The company came out with an initial public offer (IPO) during the period from 4 October 2017 to 6 October 2017. The IPO comprised of fresh issue of Rs 291.51 crore. The IPO also comprised of offer for sale of 1.23 crore shares by V-Sciences Investments Pte Ltd (an indirect wholly owned subsidiary of Temasek Holdings (Private) Limited) and offer for sale of Rs 300 crore by pomoters Godrej Industries. The stock debuted at Rs 621 on BSE on 16 October 2017 a premium of 35% compared to the IPO price of Rs 460 per share. On 23 January 2018 Godrej Agrovet announced that Maxximilk Private Limited had also allotted 2.16 % of the Equity Share Capital to Anamudi Real Estates LLP on Preferential basis. Consequently the shareholding of Godrej Agrovet Limited in Maxximilk Private Limited on 18 January 2018 was less than 50% instead of 51% as informed earlier vide letter dated 18 January 2018. Hence Maxximilk Private Limited is not a subsidiary of Godrej Agrovet Limited.On 11 May 2018 Godrej Agrovet announced that it has increased its total shareholding from 49% to 49.9% in Godrej Tyson Foods Limited (GTFL) by way of purchase of additional 0.9% of the total Paid-up Equity Share Capital from GTFL's existing member viz. Tyson India Holdings Limited with effect from 10 May 2018.On 17 May 2018 Godrej Agrovet's subsidiary Creamline Dairy Products Limited (CDPL) announced that as a part of its expansion plans it intends to invest Rs 400 crore in 3 greenfield milk processing plants in Tamil Nadu North Karnataka and Maharashtra over the period of next three years. Further CDPL may plan to raise funds through debt or by way of public issue if required subject to necessary approvals. The Board of Directors (Board) of Godrej Agrovet at its Meeting held on 14 September 2018 considered and approved the amalgamation of Astec LifeSciences Limited (Astec) with Godrej Agrovet Limited (GAVL) in consideration for Equity Shares of GAVL. The proposed amalgamation would be carried out vide a Scheme of Amalgamation of Astec LifeSciences Limited with Godrej Agrovet Limited and their respective Shareholders (the Scheme) under Sections 230 to 232 of the Companies Act 2013 and other applicable provisions if any of the Companies Act 2013. In consideration for the amalgamation of Astec with GAVL GAVL will issue and allot 11 (Eleven) fully paid up equity shares of Rs. 10 /- each to the Equity Shareholders of Astec as on Record Date for every 10 (Ten) fully paid up equity shares of Rs. 10/- each held by them in Astec.

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