Godrej Agrovet up 4% as board nods acquisition of 48.06% stake in Creamline

Godrej Agrovet shares gained 4.2 per cent on BSE, logging an intraday high at Rs 766.75 per share in trade on Wednesday. The buying interest sparked after the Board approved the acquisition of the remaining 48.06 per cent stake in Creamline Dairy Products. The cost of acquisition stood at Rs 930 crore.

 

Around 9:40 AM, Godrej Agrovet share price was up 1.92 per cent at Rs 749.75 per share on BSE. In comparison, the BSE Sensex was flat at 74,102.41. The market capitalisation of the company stood at Rs 14,414.8 crore. The 52-week high of the stock was at Rs 877.85 per share and the 52-week low was at Rs 475.7 per share. 

 

 

After the completion of the acquisition, Creamline Dairy Products will become a subsidiary of Godrej Agrovet.

 

"The board of directors has approved the purchase/acquisition of remaining 48.06 per cent Equity Stake in Creamline Dairy Products Limited (CDPL), making CDPL a wholly owned subsidiary of the Company, upon completion of the said acquisition," the filing read. 

 

As per the filing, the board of directors has also approved the execution of a share purchase agreement with the promoter group of Creamline Dairy Products and Creamline Dairy Products for the acquisition of a 47.38 per cent stake.

 

Creamline Dairy Products is engaged in milk procurement, processing of milk, and manufacturing and selling of milk and its products.  

   

Besides, the board also approved the appointment of Y. V. Sathish as head –manufacturing & supply chain excellence” of the company effective from March 24, 2025.

 

"The board of directors has approved the appointment of and remuneration payable to Mr. Y. V. Sathish as “head – manufacturing & supply chain excellence” of the company effective from March 24, 2025, as per the Nomination and Remuneration Policy of the company," the filing read. 

 

Y. V. Sathish has three decades of experience across geographies and diverse cultures, having worked with renowned FMCG companies like GlaxoSmithKline and Hindustan Unilever Limited. Throughout his career, Sathish has led manufacturing units and multiple greenfield projects across India. He has rolled out pioneering initiatives in responsible automation, additive manufacturing, and digital use cases.   ALSO READ: Analysts cautiously optimistic on Tata Motors amid JLR vol concerns in FY26

 

Currently, Sathish heads the operations of Unilever's Sumerpur factory, the largest site in the South Asia cluster. Having been with Unilever for 18 years, he has steadily progressed through various roles, starting as a factory engineer and later taking on management positions in Assam, Kolkata, Goa, Kandla, and Sumerpur.

 

In the past one year, Godrej Agrovet shares have gained 47 per cent against Sensex's rise of 0.58 per cent.