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Phillip Capital retains buy on UPL
Mar. 13, 2020
UPL Limited
IndiaFollow
IndiaPhillip Capital has retained a buy rating on UPL in the long term with a target price of Rs 730.
Company Financials
For the quarter ended 31-12-2019, the company has reported consolidated sales of Rs 8892.00 crore, up 13.75% from last quarter sales of Rs 7817.00 crore and up 80.69% from last year same quarter sales of Rs 4921.00 crore. The company has reported net profit after tax of Rs 838.00 crore in the latest quarter.
Investment Rationale
The brokerage met UPL’s management to understand the company’s regional growth outlook for FY21, status of Arysta integration, and impact of supply disruption in China due to coronavirus. The brokerage continues to maintain its optimistic stance after meeting the management, driven by visibly better growth across the regions, multiple synergy benefits by FY22, and limited impact on raw material sourcing from China due to the coronavirus.
Source: The Economic Times
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