Nirmal Bang: UPL Q2 Review - Healthy Beat On Estimates
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
UPL Ltd.’s Q2 FY21 result beat our/street estimates with consolidated adjusted profit after tax coming in at Rs 6.74 billion versus our/Bloomberg estimate of Rs 5.31 billion/Rs 5.37 billion.
Revenue was also a marginal beat as all geographies, barring Latin America exceeded our estimates. LatAm was a marginal miss.
Reported Ebitda, including forex loss of Rs 1.41 billion (not included in our estimate), came in below our forecast.
Volume growth of 19% YoY offset the 1%/4% hit on prices/Forex.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.