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Hold UPL; target of Rs 584: Sharekhan

Sharekhan recommended Hold rating on UPL with a target price of Rs 584 in its research report dated November 19, 2024.

November 21, 2024 / 11:02 IST
Hold

Sharekhan's research report on UPL

The quarter’s revenue reached Rs. 11,090 crore, marking a 9% increase y-o-y and a 22% q-o-q rise. EBITDA for the quarter was Rs. 1,352 crore, up 2% y-o-y and 23% q-o-q. The company reported a loss of Rs. 585 crore, compared to a loss of Rs. 527 crore in the previous quarter and a loss of Rs. 293 crore during the same period last year.

Outlook

We maintain our HOLD rating on UPL with a revised PT of Rs. 584, given the destocking concerns and high debt. At the CMP, the stock trades at 19x/13x its FY2026E/FY2027 EPS.

For all recommendations report, click here

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UPL - 21112024 - khan

Broker Research
first published: Nov 21, 2024 11:02 am

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