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Godrej Agrovet advanced 1.26% to Rs 744.90 after the company's board approved the acquisition of the remaining 48.06% stake in Creamline Dairy Products (CDPL) for total consideration of Rs 930 crore.

Godrej Agrovet rises after board OKs to acquire remaining stake in CDPL

12-Mar-2025, 10:28
CDPL is one of the leading private dairy companies in southern India and its products are sold under the brand name 'Godrej Jersey'. Its turnover was Rs 1,540.50 crore in FY24.

The rational for the acquisition is to convert CDPL into a wholly owned subsidiary by acquiring remaining 48.06% equity stake from the existing equity shareholders of CDPL, in order to consolidate the company's position in CDPL.

Pre acquisition, the company held 58,81,508 shares (51.94%), whereas post acquisition, it will hold 1,13,24,700 equity shares (100%) in CDPL.

The said transaction is expected to be completed on or before 30 September 2025.

Meanwhile, the company's board approved the appointment of and remuneration payable to Y. V. Sathish as head ' manufacturing & supply chain excellence effective from March 24, 2025.

Y. V. Sathish brings nearly three decades of extensive experience across geographies and diverse cultures, having worked with renowned FMCG companies like GlaxoSmithKline and Hindustan Unilever.

Godrej Agrovet is an agri-business company in India that focuses on research and development to improve the productivity of Indian farmers. It offers a range of products and services to increase crop and livestock yields sustainably. The company is a leader in various sectors, including animal feed, crop protection, oil palm, dairy, poultry, and processed foods.

The company's consolidated net profit jumped 21.4% to Rs 111.49 crore in Q3 FY25 as compared with Rs 91.84 crore in same quarter last year. Net sales increased 4.4% YoY to Rs 2,444.64 crore during the quarter ended 31st December 2024.