UPL Ltd's 2QFY21 earnings were ahead of our estimates, Sales/EBITDA grew by 14.4/15.2% YoY to Rs 89.3/16.6bn (D.est: Rs 83.8/15.7bn). APAT grew by 55% YoY to Rs 6.47bn. Sales growth was driven by a 19% volume growth across geographies....