{"id":7652,"date":"2015-06-15T14:57:21","date_gmt":"2015-06-15T09:27:21","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=7652"},"modified":"2015-07-02T17:23:25","modified_gmt":"2015-07-02T11:53:25","slug":"upl-ltd","status":"publish","type":"post","link":"https:\/\/fundsindia.com\/blog\/equities\/upl-ltd\/7652","title":{"rendered":"UPL Ltd."},"content":{"rendered":"<p style=\"text-align: justify;\">Established in 1969, UPL Ltd (UPL) is a crop protection, chemicals and seeds company. The company offers a wide range of products while operating through its two segments, namely, agro activities and non-agro activities. UPL\u2019s product portfolio includes insecticides, fungicides, herbicides, fumigants, plant growth and regulators and \u00a0odenticides. Globally, UPL has presence in North America, Europe, Latin America and Rest of the World (RoW), apart from India<\/p>\n<p><strong>Valuation and view<\/strong><\/p>\n<div class=\"blog-highlight\" style=\"clear: both; background: #2baae2; border: none; width: 60%; text-align: center; box-shadow: 0 5px 5px rgba(0, 0, 0, 0.5);\"><a style=\"text-decoration: none;\" href=\"http:\/\/www.fundsindia.com\/content\/jsp\/LP\/equity\/equities1.do?ref=blog-button\" target=\"_blank\"> <span style=\"color: #fff; font-weight: bold;\">Open<\/span> <span style=\"color: #fff; font-weight: bold; text-decoration: none;\"> a FREE Account Now! <\/span><\/a><\/div>\n<p>UPL is well placed as a global player in agrochemicals space. The company showcased strong performance in Q4FY15 with a growth of 8.6% and 22.1%, respectively, in consolidated top-line and bottom-line. Further, strong product pipe-line coupled with expectations to obtain new registrations makes us positive about the stock. The comfortable level of working capital cycle at 90 days in FY15, Debt\/Equity at 0.30x and interest coverage ratio at 3.74x, makes UPL financially strong, thereby reiterating our stance on the stock.<\/p>\n<p>We initiate BUY rating on UPL. At a current CMP of Rs\u00a0520.8, UPL is currently trading at an EV\/EBITDA of 7.8x FY16E and 6.0x FY17E. Considering the company\u2019s strong fundamentals, we recommend \u2018BUY\u2019 with a target price of Rs\u00a0621.2, which implies potential upside of ~19.3% to the CMP from 1 year perspective.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2015\/06\/Research-Report-UPL-Ltd.pdf\">Research Report UPL Ltd<\/a><\/p>\n<p style=\"text-align: justify;\"><i>Investments in equity shares, debentures, etc., are not obligations of, or guaranteed by Wealth India Financial Services Pvt. Ltd., and are subject to investment risks.\u00a0<a href=\"http:\/\/pages.fundsindia.com\/pages\/disclaimer-equities\/\">Click here<\/a>\u00a0to read our full disclaimer.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Established in 1969, UPL Ltd (UPL) is a crop protection, chemicals and seeds company. The company offers a wide range of products while operating through its two segments, namely, agro activities and non-agro activities. UPL\u2019s product portfolio includes insecticides, fungicides, herbicides, fumigants, plant growth and regulators and \u00a0odenticides. Globally, UPL has presence in North America, [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UPL Ltd.<\/title>\n<meta name=\"description\" content=\"Find the latest research report on UPL Ltd. On FundsIndia MarketPlace\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fundsindia.com\/blog\/equities\/upl-ltd\/7652\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UPL Ltd.\" \/>\n<meta property=\"og:description\" content=\"Find the latest research report on UPL Ltd. 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