Views on United Phosphorus Ltd 3QFY2017 Results: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research- Pharma, Angel Broking) on United Phosphorus Ltd 3QFY2017 Results:

UPL (CMP: INR 740 / TP: / Upside:)

"UPL posted robust numbers, in sales the company posted revenues of INR 3,987cr V/s INR 3,377cr in 3QFY2016, growth of 18.0% YoY. The growth was driven by volume (18% YoY), while price dip was around 3% and exchange gains added 3% rise to the top line rise. In terms of geography - Latin America (INR 1,736cr, rose by 37% YoY), India (INR 626, rose by 20%), ROW ( INR 636cr,a YoY rise of 2%), Europe (INR 329 cr, posted a YoY growth of 8%), US(INR 660cr) sales were flat. On EBITDA front, the company posted an EBITDA of 19.0% V/s 17.0% in 3QFY2016. Along with this, dip of 15% and 2% in the deprecation & finance cost respectfully aided the PBT, to grow by 57% YoY. Consequently, PAT, came in at INR 459cr V/s INR 281cr in 3QFY2016, growth of 63.0% YoY. We maintain our NEUTRAL rating on the stock."

Shares of UPL Limited was last trading in BSE at Rs.739.8 as compared to the previous close of Rs. 729.5. The total number of shares traded during the day was 222680 in over 7680 trades.

The stock hit an intraday high of Rs. 754.5 and intraday low of 725. The net turnover during the day was Rs. 165225460.

Source : Equity Bulls

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