Godrej Agrovet Limited (GODREJAGRO.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+279.2%

₹2,205.80

vs ₹581.65 price

Levered DCF

₹5,525.89

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	21.75×	33.65×	26.83×	26.27×	21.09×	32.08×	23.07×	30.47×
P/B	5.06×	6.07×	3.83×	3.39×	3.75×	4.91×	3.84×	6.08×
P/S	1.01×	1.54×	1.01×	0.85×	1.02×	1.61×	1.03×	1.69×
EV / EBITDA	11.8×	18.93×	15.5×	17.8×	14.83×	19.54×	19.9×	22.1×
Gross margin	17.5%	25.3%	23.7%	20.7%	23.7%	25.9%	21.1%	22.4%
Operating margin	6.2%	19.0%	17.6%	15.1%	18.0%	19.4%	15.6%	16.8%
Net margin	4.6%	4.6%	3.8%	3.2%	4.8%	5.0%	4.5%	5.6%
Current ratio	0.95×	1×	1.04×	0.97×	1.06×	1.08×	0.96×	0.99×
Debt / equity	0.77×	0.59×	0.56×	0.61×	0.7×	0.5×	0.37×	0.24×
Interest coverage	4.59×	13.38×	15.6×	14.22×	23.76×	26.14×	25.72×	29.34×
Dividend yield	2.1%	1.3%	1.9%	2.3%	1.9%	1.0%	1.5%	0.9%
Payout ratio	44.8%	44.7%	51.0%	60.8%	39.5%	33.7%	35.1%	27.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	23.3%	18.0%	14.3%	12.9%	17.7%	15.3%	16.7%	20.0%
Return on invested capital	11.8%	31.2%	28.1%	25.1%	25.9%	25.3%	29.8%	27.4%
Return on assets	7.7%	7.8%	6.3%	5.5%	7.2%	6.5%	6.5%	7.8%
Free cash flow yield	9.1%	5.2%	3.0%	6.5%	-4.6%	-2.6%	-0.3%	1.7%
Earnings yield	4.6%	3.0%	3.7%	3.8%	4.7%	3.1%	4.3%	3.3%
Enterprise value	₹115.6B	₹158.1B	₹110.1B	₹93.4B	₹100.6B	₹110.4B	₹76.9B	₹103.9B
Net debt / EBITDA	1.3×	1.62×	1.92×	2.68×	2.31×	1.73×	1.62×	0.79×
Cash conversion cycle (days)	15	47	64	61	93	75	22	24