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ICICI Securities has add call on UPL with a target price of Rs 852. The current market price of UPL Ltd. is Rs 795. 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 60707.23 Crore) operating in Pesticides/Agro Chemicals sector.
UPL Ltd. key Products/Revenue Segments include Agrochemicals, Other Operating Revenue, Export Incentives, Sale of services, Royalty Income for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 11367.00 Crore, up 7.09 % from last quarter Total Income of Rs 10614.00 Crore and up 23.65 % from last year same quarter Total Income of Rs 9193.00 Crore. Company reported net profit after tax of Rs 1165.00 Crore in latest quarter.
Investment Rationale
The brokerage models UPL to report revenue and PAT CAGR of 11.2% and 16.6%, respectively, over FY21-FY24E, and RoE to move to 17.5% in FY24 from 10.3% in FY21. It remains confident of value creation with RoIC > cost of equity. It maintains ADD rating on the stock with a revised DCF-based target price of Rs852 (implied P/E 12x of FY24E EPS).
Promoter/FII Holdings
Promoters held 28.24 per cent stake in the company as of 31-Dec-2021, while FIIs owned 34.27 per cent, DIIs 18.65 per cent.
UPL Ltd., incorporated in the year 1985, is a Large Cap company (having a market cap of Rs 60707.23 Crore) operating in Pesticides/Agro Chemicals sector.
UPL Ltd. key Products/Revenue Segments include Agrochemicals, Other Operating Revenue, Export Incentives, Sale of services, Royalty Income for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 11367.00 Crore, up 7.09 % from last quarter Total Income of Rs 10614.00 Crore and up 23.65 % from last year same quarter Total Income of Rs 9193.00 Crore. Company reported net profit after tax of Rs 1165.00 Crore in latest quarter.
Investment Rationale
The brokerage models UPL to report revenue and PAT CAGR of 11.2% and 16.6%, respectively, over FY21-FY24E, and RoE to move to 17.5% in FY24 from 10.3% in FY21. It remains confident of value creation with RoIC > cost of equity. It maintains ADD rating on the stock with a revised DCF-based target price of Rs852 (implied P/E 12x of FY24E EPS).
Promoter/FII Holdings
Promoters held 28.24 per cent stake in the company as of 31-Dec-2021, while FIIs owned 34.27 per cent, DIIs 18.65 per cent.
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