UPL Ltd.

NSE: UPL | BSE: 512070 | ISIN: INE628A01036 |Industry: Agrochemicals
|Expensive Rocket
Durability score
45 /100
Valuation score
18.2 /100
Momentum score
60.3 /100
Market Capitalizati...
48,603 Cr.
AVG Broker Target
901.4
PE TTM Price to Ear...
32.3
UPL Ltd.    
21 May 2019
953.00
-4.67%
buy
Buy: UPL Ltd.
Sharekhan
growth of 15% y-o-y to Rs. 6,556 crore during Q4FY2019. This was led by increased volumes (up 7% y-o-y), improved realisations (up 5% y-o-y) coupled with exchanged gain of 3%. Input cost pressures on account of rising crude prices and challenging environment in China in terms of commodity pricing and trade war scenario led to gross margin contraction of 57 BPS to 37.6%...
UPL Ltd.'s price crossed below SMA50 today
UPL Ltd.    
20 May 2019, 12:00AM
953.00
-4.67%
buy
Buy: UPL Ltd.
Dolat Capital
In line performance. Arysta's acquisition A strategic fit. UPL's 4QFY19 performance (excluding Arysta Lifescience's two months results) was largely in line with our estimates. The sales/EBITDA/Adj. PAT grew 15.2/0.9/23.5% YoY to ` 65.5/14.3/9.0bn, respectively. The adj.PAT growth of 23.5% YoY was primarily due to a decline in interest costs (down 59.3% YoY) and a lower tax rate (2.6% in 4QFY19 against 23.1% in 4QFY18). Sales rose 15.2% YoY, driven by a volume/value/exchange rate growth of 7.0/5.0/3.0% YoY, respectively. The 4QFY19 and FY19 results include the...
UPL Ltd.'s price crossed below SMA50 today
UPL Ltd.    
20 May 2019, 12:00AM
953.00
-4.67%
Motilal Oswal
estimate: INR14.4b), with the margin expanding 50bp YoY to 21.9% (our estimate: 22%). Adj. PAT grew 39.5% YoY to INR10.7b in the quarter. Other income came in lower at INR590m (v/s INR1,180m in 4QFY18), but the impact was more than offset by a lower tax rate (2.8% v/s 17.7% in 4QFY18) and a decline in finance cost (INR2.6b v/s INR4.1b in 4QFY18). For FY19, revenue grew 14% to INR198.7b, with the margin expanding 60bp to 20.8%. Adj. PAT increased 17% to INR26.1b. Key highlights of Arysta consolidation: On incorporating Arysta's financials...
UPL Ltd.'s price crossed below SMA50 today
UPL Ltd.    
19 May 2019, 12:00AM
953.00
-4.67%
buy
Buy: UPL Ltd.
Prabhudas Lilladhar
UPLL's revenue and EBITDA numbers (excluding Arysta's acquisition related Change in Estimates | Target | Reco adjustments) were largely in line with our estimates. It reported revenue of INR 85 bn in 4Q'19 vis--vis our estimate of INR 90 bn (UPL Group- INR 66 bn,...
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UPL Ltd.'s price crossed below SMA50 today
UPL Ltd.    
10 Apr 2019
953.00
-4.67%
Nirmal Bang Institutional
4QFY19 results expectations: UPL has announced plans to consolidate Arysta financials for two months in 4QFY19 (February and March 2019). The 4QFY19 numbers, including Arysta, are not comparable to 4QFY18. The company's name remains unchanged as UPL post-Arysta takeover. The results are due on 26 April 2019. UPL pre-Arysta: We expect consolidated 4QFY19 PAT (before one-time integration costs of Rs650mn) at Rs9,485mn vs. Rs7,420mn a year ago (up 27.8%). We expect reported...
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Number of FIIs/FPIs holding stock rose by 25 to 689 in Mar 2019 qtr.
UPL Ltd.    
27 Mar 2019
953.00
-4.67%
Nirmal Bang Institutional
Indian generics agrochemicals company UPL Ltd (UPLL) is set for robust growth after the recent US$4.2bn all-cash buyout of global competitor Arysta LifeScience Inc. The Indian multinational is present across the entire crop protection chemicals (CPC) and seeds chain. UPLL caters to all categories focused on key crops and geographies, including Latin America (LatAm), its largest market. UPLL is present in 133 countries with 79% of its revenues coming from overseas markets. We forecast FY19-21E EPS CAGR of 41% for the UPLL-Arysta combine (including synergies). We initiate coverage on UPLL with a Buy rating and a target...
UPL Ltd.'s price crossed below SMA30 today
UPL Ltd.    
04 Feb 2019
953.00
-4.67%
buy
Buy: UPL Ltd.
Motilal Oswal
PAT grew 6% YoY to INR15,510m. Growth was robust across key geographies (+36.6% YoY in Europe, +26.5% YoY in LATAM, +21.5% YoY in North America and +12.7% YoY in RoW), barring India (-20.8% YoY), where poor Kharif yield and erratic rainfall resulted in stressed cash flow for farmers. UPLL also faced restriction on the sale of organophosphorus products in a few states in India, which impacted the top line (to the tune of INR300-400m on an annualized basis). UPLLs performance in Europe has been a highlight, with the geography growing at 15.4% YoY in 9MFY19 against an estimated industry decline of 10% in CY18. We maintain our estimates (revenue/PAT CAGR of 32%/18% over FY18-21), factoring in the financials of Arysta in FY20E and FY21E. We roll over the target price to FY21E EPS, valuing UPLL at 13x (~15% discount to its three-year average trading multiple, primarily due to the expectedly high leverage in the balance sheet post Arysta acquisition).
UPL Ltd. has gained 46.17% in the last 1 Year
UPL Ltd.    
23 Jan 2019
953.00
-4.67%
Motilal Oswal
The EU has passed a regulation (effective from Jan'19) to minimize the use of copper in crop protection products. The new regulation states that the permissible use of phy to sanitary products (pesticides, nematicides and rodenticides) containing copper compounds should be curbed. In this report, we analyze details of the regulation and its impact from UPLL's point of view.
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UPL Ltd. has gained 46.17% in the last 1 Year
UPL Ltd.    
10 Jan 2019
953.00
-4.67%
buy
Hold: UPL Ltd.
Geojit BNP Paribas
LATAM drives revenue growth; steady volume growth Revenue rose by 13% YoY in Q2FY19 led by strong performance in India and LATAM businesses (contributing around 66% of total sales). LATAM business registered a strong revenue growth of 26% YoY in Q2FY19 led by decent growth across geographies in the region especially Brazil barring Argentina which was impacted by currency depreciation and overall economic situation. LATAM's revenue contribution has increased to 41% during the quarter from 37% in Q2FY18. Management expects strong performance to continue in LATAM in H2FY19 as well led by advance orders received in Brazil. Going ahead, we expect LATAM revenue to grow at a CAGR of 13% over FY18-20E on the back of strong...
UPL Ltd. has an average target of 901.44 from 11 brokers.
UPL Ltd.    
02 Dec 2018
953.00
-4.67%
buy
Hold: UPL Ltd.
Sharekhan
Scales higher in the top five league globally: With Arysta's acquisition, UPL moves ahead in the global agri-chemical ranking and is now among the top five players. The acquisition is expected to provide significant benefits to UPL, as it complements UPL in many areas. Arysta is an asset-light company and a global provider of innovative crop-protection solutions, including...
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Number of FIIs/FPIs holding stock rose by 25 to 689 in Mar 2019 qtr.