Godrej Agrovet Q4 Review - Dairy Segment Continues To Disappoint: ICICI Securities
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ICICI Securities Report
Three pointers from Godrej Agrovet Ltd.'s Q4 FY21:
Lower demand from hotel-restaurant-cafe sector for milk, eggs and chicken continues to impact overall consumption of these commodities. It also affected the animal feed segment.
Dairy segment continues to report weak numbers in-spite of lower milk procurement prices and re-branding under ‘Godrej Jersey’ brand.
The company shifted from supplier financing to short term borrowings with lower cost of borrowing.
We expect most segments of the company to show recovery in FY22 with favourable base of FY21.
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