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    HomeNewsBusinessStocksNeutral UPL; target of Rs 835: Motilal Oswal

    Neutral UPL; target of Rs 835: Motilal Oswal

    Motilal Oswal recommended Neutral rating on UPL with a target price of Rs 835 in its research report dated January 31, 2023.

    Broker Research
    February 02, 2023 / 16:09 IST

    Motilal Oswal's research report on UPL

    UPLL reported healthy revenue growth of 21% YoY, driven primarily by an increase in price realization (up 13% YoY). Volumes inched up 1% YoY. All other key geographies registered a strong double-digit sales growth, except for Europe (up 3% YoY). Gross debt/Net debt increased by INR53.7b/INR37.6b YoY in 3QFY23 to INR328b/INR275b.

    Outlook

    We largely maintain our FY23E/FY24E/FY25E earnings and reiterate our Neutral rating on the stock with a TP of INR835 (premised on 9x Dec’24E P/E).

    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.

    UPL - 01 -01-2023 - moti

    Broker Research
    first published: Feb 2, 2023 04:09 pm

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