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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.
Company has B S R - Co.
LLP as its auditors.
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 Western Europe.
Added positives include the company’s plans to add 2 new products in each market every year to meet its “innovation rate” target of 15% of revenue.
Stock Market
Nirmal Bang maintains buy on UPL, target price Rs 686
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