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Godrej Industries Q2 Review - At 63% Discount To Net Asset Value Versus Average Of 50%: ICICI Securities

Godrej Industries Q2 Review - At 63% Discount To Net Asset Value Versus Average Of 50%: ICICI Securities

<div class="paragraphs"><p>Signage for Godrej Group is seen outside an electronics store in New Delhi, India. (Photographer: Prashanth Vishwanathan/Bloomberg)</p></div>
Signage for Godrej Group is seen outside an electronics store in New Delhi, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Godrej Industries Ltd. generates major value from its listed subsidiaries and associates viz. Godrej Consumer Products Ltd., Godrej Properties Ltd. and Godrej Agrovet Ltd.

As per our target prices for Godrej Consumer Products, Godrej Properties and Godrej Agrovet and 50% holdco discount, Godrej Industries’ value works out to Rs 672/share.

We believe the subsidiaries as well as associates of Godrej Industries to be net beneficiaries of revival in economy. We also expect these businesses to benefit with value migration from unorganised to organised sector.

Click on the attachment to read the full report:

ICICI Securities Godrej Industries Q2FY22 Results Update.pdf

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