Q4 recovery, debt reduction likely to drive gains for UPL: Analysts

December quarter was impacted by currency headwinds, dry weather in the key LatAm market

Strong agrochemical demand aided by higher commodity prices, and sustained balance sheet deleveraging are the key factor which may help sustain gains for India’s largest agrochemical company, UPL. 

The company sounded confident of healthy growth in the ongoing January-March quarter, supported by firm commodity prices. “When prices are low, farmers tend to save money or down trade. However, that is not the case right now. Crop prices across the board —whether soybean, corn, or wheat — are strong. So, the sentiment is positive and farmers are going to use as much technology as possible to increase the yield. Additionally, our order