The Economic Times daily newspaper is available online now.

    Add UPL, target price Rs 860: ICICI Securities

    Synopsis

    UPL Ltd., incorporated in the year 1985, is a Large Cap company (having a market cap of Rs 55372.33 Crore) operating in Pesticides/Agro Chemicals sector.

    UPLAgencies
    Promoters held 28.96 per cent stake in the company as of 30-Jun-2022, while FIIs owned 36.45 per cent, DIIs 16.46 per cent.
    ICICI Securities has add call on UPL with a target price of Rs 860. The current market price of UPL is Rs 738.6.
    Time period given by analyst is one year when UPL Ltd. price can reach defined target.

    UPL Ltd., incorporated in the year 1985, is a Large Cap company (having a market cap of Rs 55372.33 Crore) operating in Pesticides/Agro Chemicals sector.

    UPL Ltd. key Products/Revenue Segments include Agrochemicals, Export Incentives, Sale of services, Other Operating Revenue, Royalty Income for the year ending 31-Mar-2022.


    Financials
    For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 10894.00 Crore, down -31.81 % from last quarter Total Income of Rs 15977.00 Crore and up 27.22 % from last year same quarter Total Income of Rs 8563.00 Crore. Company reported net profit after tax of Rs 975.00 Crore in latest quarter.

    Investment Rationale
    The brokerage models UPL to report revenue and PAT CAGR of 12.7% and 22.7%, respectively, over FY22-FY24E, and RoE to move to 19.6% in FY24 from 19.8% in FY22. It remains confident of value creation with RoIC > cost of equity. It maintains ADD rating on the stock with a DCF-based target price of Rs860 (implied P/E 10x of FY24E EPS).

    Promoter/FII Holdings
    Promoters held 28.96 per cent stake in the company as of 30-Jun-2022, while FIIs owned 36.45 per cent, DIIs 16.46 per cent.



    (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in