UPL Ltd.

NSE: UPL | BSE: 512070 | ISIN: INE628A01036 |Industry: Agrochemicals
|Expensive Performer
Durability score
70 /100
Valuation score
28 /100
Momentum score
59.6 /100
Market Capitalizati...
39,573.5 Cr.
AVG Broker Target
806.1
PE TTM Price to Ear...
18.6
UPL Ltd.    
10 Jan 2019
775.95
0.72%
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 gained 20.26% in the last 6 Months
UPL Ltd.    
02 Dec 2018
775.95
0.72%
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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UPL Ltd. has gained 22.64% in the last 3 Months
UPL Ltd.    
02 Dec 2018
775.95
0.72%
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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UPL Ltd. is trading above it's 200 day SMA of 693.78
UPL Ltd.    
27 Nov 2018
775.95
0.72%
buy
Buy: UPL Ltd.
Motilal Oswal
In Brazil, UPLL primarily engages in soybean and maize (together account for 63% of the countrys total plantation area) and Arysta in sugarcane and cotton (19% of the countrys total plantation area). Moreover, UPLL has a strong presence in fungicides, while Arysta has a robust platform of bio solutions (#2 globally in bio stimulants) and seed treatment in Brazil. Brazilian farmers are enjoying strong demand for soybean, primarily due to the tense ties between the US and China. According to industry sources, China accounts for more than 60% of the soybean traded worldwide. This apart, Brazils producers are selling soybean at a premium soybean that were to be loaded in August fetched USD2.21/bushel more than Chicago futures as on July first week the widest gap since 2014. Where Unizeb Gold (brand of mancozeb) is sold at ~USD4 per unit in Brazil, Tridium fetches a realization of USD8-10 per unit.
Number of FIIs/FPIs holding stock rose by 34 to 662 in Sep 2018 qtr.
UPL Ltd.    
27 Oct 2018
775.95
0.72%
HDFC Securities
We maintain Buy with a TP of Rs 719 (9x Sept'20 EV/EBITDA). UPL reported Sales/EBITDA/APAT growth of 12.9/16.2/18.4% to Rs 42.57bn/Rs 7.87bn/Rs 2.85bn respectively. PAT was weighed down by a higher tax rate (26.6% against 17.5% in 2QFY18) due to derivation of higher profits from India (attracting a higher tax rate).
Number of FIIs/FPIs holding stock rose by 34 to 662 in Sep 2018 qtr.
UPL Ltd.    
26 Oct 2018
775.95
0.72%
buy
Buy: UPL Ltd.
Motilal Oswal
EBITDA increased 17% YoY expanding 60bp YoY to 19.7% (in-line). PAT increased grew 12% YoY, EBITDA increased 15% YoY (margin up 50bp to 20.1%) and adj. We expect the momentum to continue in 2HFY19, with revenue growth of 12% YoY and margin expansion of 80bp YoY. LATAM is an important geography for UPPL accounting for 41% of overall revenue (v/s 37% in 2QFY18). Management has maintained its growth (10-12%) and margins guidance on account of the holistic growth prospects across geographies. We maintain our revenue/PAT CAGR (FY18-20) estimate of 44%/8%, and continue valuing UPLL at 13x Jun20 EPS (~15% discount to its three-year average trading multiple) on account of (a) highly leveraged balance sheet (due to Arysta acquisition) leading to increased D/E, (b) pressure on return ratios and (c) higher exposure to forex risk. However, with key drivers of growth in place, we maintain our price of INR749 (20% upside).
Geojit BNP Paribas downgraded UPL Ltd. to Hold with a price target of 805.0 on 10 Jan, 2019.
UPL Ltd.    
09 Aug 2018
775.95
0.72%
buy
Results Update: UPL Ltd.
SMC online
UPL's consolidated revenue for Q1FY19 came in at Rs 4134cr, an increase by 7.3% yoy. This was primarily driven by rise in revenue from Agro activities and Non-Agro activities by 7.6 per cent and 7.3 per cent yoy, respectively. The operating profit for the quarter stood at Rs 797 cr, a rise...
UPL Ltd. is trading above it's 200 day SMA of 693.78
UPL Ltd.    
07 Aug 2018
775.95
0.72%
buy
Buy: UPL Ltd.
KRChoksey
UPL reported revenue growth of 11% YoY to INR 41.34bn against our estimates of INR 41.06bn. The growth was led by steady growth from agro activities (+7.6% YoY) supported by higher growth from LATAM (+17% YoY) along with decent growth from India market (+12% YoY) due to low base. OPM expanded by 34bps YoY to 20.5%, which led EBITDA to up by 12.9% YoY to INR 8.5bn against our estimates of INR 8.15bn....
Geojit BNP Paribas downgraded UPL Ltd. to Hold with a price target of 805.0 on 10 Jan, 2019.
UPL Ltd.    
31 Jul 2018
775.95
0.72%
HDFC Securities
We now value UPL at 9.0x Jun'20 EV/EBITDA and maintain Buy with a revised target price of Rs 700 (implied P/E of 12.6x Jun'20 EPS). UPL reported Sales/EBITDA/APAT growth of 11.0/15.3/7.8% to Rs 41.3bn/Rs 7.97bn/Rs 5.15bn respectively. India business reported a growth of 11.0% YoY to Rs 12.4bn on a lower base, while Latam business showed a recovery with a growth of 17.2% YoY to Rs 8.6bn.
UPL Ltd. has gained 22.64% in the last 3 Months
UPL Ltd.    
31 Jul 2018
775.95
0.72%
Motilal Oswal
31 July 2018 increased 11% YoY to INR41.3b (est. of INR41.9b) in 1QFY19, driven by volume growth of 8% YoY and price increase of 1% YoY. EBITDA grew 12.9% YoY to INR8,470m (est. of INR8,638m), with the margin expanding 40bp YoY to 20.5% (est. Higher interest cost of INR1,750m (est. of INR790m) was partly offset by a lower tax rate of 9.2% (est.
Promoters pledge increased to 2.32% of holdings in Sep 2018 qtr.