INSUBCONTINENT EXCLUSIVE:
Nirmal Bang has maintained buy rating on UPL in the long term with a target price of Rs 686
shares of UPL ended down 0.8% at Rs 590.65 on Friday while BSE Sensex closed 162.03 points up at 41,464.61.
Company FinancialsFor the
quarter ended 30-09-2019, the company has reported consolidated sales of Rs 7817.00 crore, down -1.13 % from last quarter sales of Rs
7906.00 crore and up 83.63% from last year same quarter sales of Rs 4257.00 crore
The company has reported net profit after tax of Rs 111.00 crore in the latest quarter
The company’s top management includes Dr.Reena Ramachandran, Mr.A C Ashar, Mr.Hardeep Singh, Mr.J R Shroff, Mr.Pradeep Goyal, Mr.R D
Shroff, Mr.V R Shroff, Mr.Vasant P Gandhi, Mrs.S R Shroff, Ms.Usha Rao Monari
As on 30-09-2019, the company has a total of 764,022,956 shares outstanding
Investment RationaleThe brokerage is positive on longer-term prospects on the UPL Arysta combine based on UPL’s robust footprint in Latin
America – especially Brazil; and Arysta’s strong foothold in Eastern Europe and Africa, with a steady outlook for business in the US and
Added positives include the company’s plans to add 2 new products in each market every year to meet its “innovation rate” target of