Godrej Agrovet rises on planning to set up Integrated Palm Oil Complex in Telangana
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Godrej Agrovet is currently trading at Rs. 486.10, up by 5.95 points or 1.24% from its previous closing of Rs. 480.15 on the BSE.
The scrip opened at Rs. 490.10 and has touched a high and low of Rs. 490.10 and Rs. 483.40 respectively. So far 681 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 532.60 on 06-Oct-2022 and a 52 week low of Rs. 391.20 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 490.10 and Rs. 473.00 respectively. The current market cap of the company is Rs. 9229.00 crore.
The promoters holding in the company stood at 74.05%, while Institutions and Non-Institutions held 14.74% and 11.21% respectively.
Godrej Agrovet’s (GAVL) Oil Palm business is planning to set up an Integrated Palm Oil Complex in the state of Telangana. To be set up in the Khammam district, it will consist of a state the of art Crude Palm Oil mill along with the provision of setting up a refinery in the near future. The company will also establish a nursery with a capacity of up to 7 lakh saplings per year in addition to the seed production & research unit. At the complex, GAVL will be setting up first-ever seed garden in India. This seed garden can provide seeds for the planting of around 90,000 acres of area and shall help Telangana state to achieve targets for oil palm plantation.
GAVL will be investing Rs 300 crore over the next 3-4 years in setting up the integrated palm oil complex. Additionally, through its Samadhan Centers - a one stop solution for oil palm farmers, the company would also provide advisory services on best practices / modern technologies, farm inputs (such as fertilizers, drip irrigation, pesticides, seeds, and harvesting tools) and services under one roof. The company’s partnership with the State Bank of India would also support Oil Palm Plantation farmers during the gestation period. With 65,000 hectares of palm oil under cultivation across the country, GAVL plans to increase cultivation to 1.2 lakh hectares by 2027.
Godrej Agrovet is a diversified, research and development focused agribusiness company with operations across five business verticals i.e. animal feed, crop protection, oil palm, dairy, and poultry and processed foods.
