Preview: India's UPL marginally higher ahead of Q2 results

Arihant Capital Markets

30/10/2023 04:36

** Shares of agriculture chemicals producer UPL  UPLL.NS  up
0.4% ahead of its Q2 results
    ** Analysts, on avg, expect consolidated profit to fall ~43%
and revenue to fall ~12% - LSEG data
    ** Analysts at Jefferies expect a weak FY24 for UPL due to
competition from Chinese post-patent players and oversupply
    ** Prabhudas Lilladher expects subdued performance in Q2
with growth expected to be in the mid-single to low double
digits YoY, due to delayed monsoon 
    ** Nineteen of 25 analysts have a "buy" or "strong buy"
rating, five "hold" while one rates it "sell" or "strong sell";
median PT is 800 rupees - LSEG data
    ** UPL fell over 10.4% in Sept-qtr, underperforming Nifty 50
index  .NSEI  which gained 2.3%


 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))