Views on United Phosphorus Ltd 1QFY2016 Results: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking) on United Phosphorus Ltd 1QFY2016 Results:

"UPL, for its 1QFY2016 results, posted an 11.0% yoy growth in sales on top line to end the period at INR 3,064cr, driven by the domestic sales (INR 1083cr) which rose by 15% yoy, while exports (INR 1981cr) posted a growth of 9%. The exports were driven by the Latin America, which posted a 21% yoy and ROW which posted a 10% yoy growth. Other key markets i.e. Europe and USA, posted a yoy growth of 1% and 5% respectively. The overall growth was driven by the volumes which rose by 16% yoy, while the exchange rate impact was -5% yoy; while pricing remained constant.

The EBDITA margins came in at 19.0% almost similar to 1QFY2015, while the gross margins saw an expansion, which came in at 39% V/s 38% in 1QFY2015. The PAT came in at INR 275cr V/s INR 289cr in 1QFY2015, a de-growth of 5.0% yoy. We maintain our NEUTRAL rating on the stock."

Shares of UPL Limited was last trading in BSE at Rs.526 as compared to the previous close of Rs. 526.75. The total number of shares traded during the day was 348717 in over 9116 trades.

The stock hit an intraday high of Rs. 538 and intraday low of 516. The net turnover during the day was Rs. 183541134.

Source : Equity Bulls

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