UPL Ltd. share price target

Broad geographic reach of UPLL IN is expected to help the company sustain a topline growth of 11.4% and 11.0% in FY16E and FY17E respectively. This can get a possible upward push from North American and Indian operations by virtue of INR depreciation, Mid West expansion in USA and decent Kharif acreage.

UPL's Q1FY16 earnings have been a tad ahead of our estimates largely helped by the surpriseinvolumesandEBITDAmargins.Despiteadverseweather,volatilecurrency,and soft commodity, UPL stepped up its volume growth runrate to 16%, which led to ~11%...

1QFY16 revenues were Rs 30.6bn ( 11% YoY) led by volume growth

12 quarters) which helped the about 9% growth in topline. The global agrochemical market growth has been reeling (CY14/CY13/CY12 4/9/6% in US$ terms) following decline in commodity prices and currency volatility. In this backdrop, a volume led...

United Phosphorus Ltd (UPL) is a global generic crop protection, chemicals and seeds company. The company is engaged in the business of agrochemicals, industrial chemicals and chemical...

United Phosphorous created a number of agro-management products comprising seed, preharvest and post harvest products. The company has 21 manufacturing facilities. Among them, 9 are in India, 4 are in France, 2 in Spain and one each in UK, Argentina, Vietnam, Netherland, Italy and China. UPL has subsidiaries across the world. The Company possesses a rich portfolio of more than 60 products; 20 were launched in the five years leading to 2011-12. FY12 was a landmark year in the history of the Company as it plugged the last major link in its global presence through acquisitions in Brazil, the fastest growing agrochemical market in the world and accounting for 15 percent of the global agricultural output. These acquisitions accounted for 9 percent of its revenues in FY12 and going ahead...