Godrej Agrovet shares rise 4% as company to acquire 48% stake in Creamline Dairy Products for ₹930 crore

The Mumbai-based Godrej Agrovet's board decided to acquire the stake to make the Creamline, which is also into manufacturing and selling milk and its products under the 'Godrej Jersey' brand, into a wholly owned subsidiary against cash, as per an exchange filing.

Godrej Agrovet already owns 51.94% of Creamline, and the new deal involves the signing of a share purchase agreement to acquire a 47.38% equity stake from the original promoters of Creamline, it said.

The company had a turnover of ₹1,540 crore for the financial year ended March 31, 2024.

The transaction will be completed by the end of September this year, it said.

Godrej Agrovet operates across five business verticals: animal feed, crop protection, oil palm, dairy and poultry, and processed foods, aiming to improve farmer productivity.

For the quarter ended December 31, 2024 (Q3 FY25), Godrej Agrovet reported a strong performance for Q3 FY25, with its net profit increasing by 32.4% year-on-year to ₹109.9 crore, up from ₹83 crore logged in the same quarter last year.

The company’s revenue rose 4.5% to ₹2,449.6 crore, compared to ₹2,345.2 crore in Q3 FY24, per news reports.

Besides, the company said that the board of directors has approved the appointment of and remuneration payable to Y V Sathish as “Head—Manufacturing & Supply Chain Excellence” of the company effective from March 24, 2025, as per the Nomination and Remuneration Policy of the company.

Godrej Agrovet share price trend

Shares of the company have rallied 52% in the past 12 months. The stock is a part of the BSE500 universe.