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Last Updated : Feb 20, 2019 03:00 PM IST | Source: Moneycontrol.com

Buy UPL; target of Rs 943: Motilal Oswal

Motilal Oswal is bullish on UPL has recommended buy rating on the stock with a target price of Rs 943 in its research report dated February 04, 2019.

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Motilal Oswal's research report on UPL


Revenue increased 17.3% YoY to INR49.2b (our estimate: INR47.7b) in 3QFY19, driven by volume growth of 6% YoY and price growth of 7% YoY. EBITDA increased 22.6% YoY to INR10,160m (our estimate: INR9,633m), with the margin expanding 90bp YoY to 20.6% (our estimate: 20.2%). Adj. PAT was flattish YoY at INR6,340m (our estimate: INR6,669m). For 9MFY19, revenue grew 14% YoY to INR133,120m, EBITDA increased 18% YoY (margin up 60bp YoY to 20.3%) and adj. PAT grew 6% YoY to INR15,510m.


Outlook


We believe the all-round performance will sustain and the set-back in the Indian market is temporary. Our TP of INR943 implies a 22% upside. Buy.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Published on Feb 20, 2019 03:00 pm
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