Godrej Agrovet Ltd (GOAGRO IN) - DuPont Analysis

In Millions of INR except Per Share FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023
12 Months Ending 03/31/201703/31/201803/31/201903/31/202003/31/202103/31/202203/31/2023
Tax Burden
Net Inc to Comn/Pre-Tax Profit % 66.43 61.66 68.94 87.83 69.24 74.34 79.94
Adjustment Factor
Normlzd Net Inc/Net Inc to Cmn 0.92 1.00 1.00 1.00 1.00 1.00 0.82
Interest Burden
Pre-Tax Profit/EBIT % 81.98 89.58 93.37 89.77 90.93 89.75 79.47
Operating Margin
EBIT/Revenue % 9.30 8.00 8.67 5.70 7.99 7.28 5.08
Asset Turnover
Revenue/Avg Assets 1.55 1.53 1.52 1.53 1.31 1.60 1.69
Leverage Ratio
Avg Assets/Avg Equity 3.54 2.80 2.54 2.56 2.44 2.40 2.40

Adjusted Return on Equity 25.61 18.93 21.50 17.56 16.10 18.71 10.75

5 Year Average Adj ROE — — — 23.75 19.94 18.56 16.93

Payout Ratio 0.00 0.00 0.00 28.22 48.98 45.33 60.47
Sustainable Growth Rate 27.77 18.94 21.50 12.60 8.23 10.19 5.18
Source: Bloomberg

Profitability Ratio (%) 5.066448 4.420181 5.578023 4.49241 5.02819 4.854593 3.227983
Productivity Ratio 1.55 1.53 1.52 1.53 1.31 1.60 1.69
Financial Leverage Ratio 3.54 2.80 2.54 2.56 2.44 2.40 2.40
Return on Equity % 27.77179 18.94181 21.50339 17.56196 16.13336 18.64004 13.10969
COMPANY- Godrej Agrovet Ltd (GOAGRO IN)
year 2017 2018 2019 2020 2021
Profit margin (Net Income/ Revenue) 17.52 17.79 19.29 29.18 31.28
Asset Turnover Revenue/Avg Assets 0.29 0.31 0.35 0.34 0.19
Fin. Leverage Ratio Avg Assets/Avg 2.98 3.31 3.96 4.67 4.57
equity

Net profit 2488.168 2292.09 3290.4 3061.9 3137.4

Total Assets 32144.327 35524.727 42342.3 47000.4 47989.3
Total Equity 12628.481 16806.471 20499.4 22206 24613.6
total liabilities 19515.846 18718.256 21842.9 24794.4 23375.7
ROE 0.150 0.183 0.265 0.470 0.271
financial performance

assets= liabilities + equity Godrej Agrovet Ltd

dupont ananlysis of IRB infrastructure= Net income/ revenue *Revenue/total assets*Avg assets/ total equity 0.5
0.45
0.4
0.35
0.3
0.25
0.2
0.15
0.1
0.05
0
2016 2017 2018 2019 2020
 2022 2023
32.61 11.90
0.24 0.28 Year ROE
4.58 4.79 2017 0.150
2018 0.183
2019 0.265
2020 0.470
2021 0.271
4025.9 3019.1 2022 0.360
55839.9 54859.5 2023 0.157
26886.9 27436
28953 27423.5
0.360 0.157

Godrej Agrovet Ltd (GOAGRO IN

GRAPH

2017 2018 2019 2020 2021 2022 2023 2024

Godrej Agrovet Ltd (GOAGRO IN) - Standardized
In Millions of INR except Per Share FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021
12 Months Ending 03/31/2015 03/31/2016 03/31/2017 03/31/2018 03/31/2019 03/31/2020 03/31/2021
Total Assets
+ Cash, Cash Equivalents & STI #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Cash & Cash Equivalents #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ ST Investments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Accounts & Notes Receiv #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Accounts Receivable, Net #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Notes Receivable, Net #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Inventories #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Raw Materials #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Work In Process #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Finished Goods #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Other Inventory #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Other ST Assets #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Prepaid Expenses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Derivative & Hedging Assets #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Misc ST Assets #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Current Assets #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Property, Plant & Equip, Net #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Property, Plant & Equip #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
- Accumulated Depreciation #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ LT Investments & Receivables #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ LT Investments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ LT Receivables #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Other LT Assets #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Total Intangible Assets #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Goodwill #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Other Intangible Assets #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
 + Prepaid Expense #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Deferred Tax Assets #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Derivative & Hedging Assets #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Investments in Affiliates #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Misc LT Assets #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Noncurrent Assets #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Assets #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

Liabilities & Shareholders' Equity

+ Payables & Accruals #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Accounts Payable #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Accrued Taxes #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Interest & Dividends Payable #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Other Payables & Accruals #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ ST Debt #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ ST Borrowings #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ ST Lease Liabilities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ ST Finance Leases #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Other ST Liabilities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Deferred Revenue #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Derivatives & Hedging #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Misc ST Liabilities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Current Liabilities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ LT Debt #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ LT Borrowings #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ LT Lease Liabilities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ LT Finance Leases #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Other LT Liabilities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Accrued Liabilities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Pension Liabilities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Pensions #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Other Post-Ret Benefits #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
 + Deferred Revenue #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Deferred Tax Liabilities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Derivatives & Hedging #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Misc LT Liabilities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Noncurrent Liabilities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Liabilities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Preferred Equity and Hybrid Capital #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Share Capital & APIC #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Common Stock #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Additional Paid in Capital #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
- Treasury Stock #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Retained Earnings #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Other Equity #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Equity Before Minority Interest #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
+ Minority/Non Controlling Interest #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Equity #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Liabilities & Equity #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

Reference Items
Accounting Standard IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP
Shares Outstanding #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Number of Treasury Shares #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Pension Obligations #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Future Minimum Operating Lease Obligation #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Capital Leases - Total #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Options Granted During Period #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Options Outstanding at Period End #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Net Debt #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Net Debt to Equity #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tangible Common Equity Ratio #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Current Ratio #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash Conversion Cycle #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Number of Employees #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Source: Bloomberg Right click to show data transparency (not supported for all values)
 FY 2022 FY 2023
03/31/2022 03/31/2023

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