United Phosphorus - Q4FY2013 Result Update - Nirmal Bang

- Company reported good results

- Q4FY13 Sales grew by 32.6% yoy and 22.9% qoq

- EBITDA margins improved to 19% against 18.2% in Q4FY12 and 17.6% qoq on account of management's focus on high margin business

- Adjusted PAT margins (forex adjustment) improved to 11.1% from 10.6% in Q4FY12 and 7.6% in Q3FY13

- Stock is trading at 8x on F13 EPS. We had recommended stock post Q3FY13 results and continue to maintain our positive outlook on the stock. The stock can be accumulated at current levels

Source : Equity Bulls

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