India cheer for UPL as scrip at all-time high on BSE, LatAm worries remain

LatAm is the largest geography by sales for UPL and accounts for 32% of its top lin

The UPL stock hit an all-time high of Rs 892 on the BSE on Tuesday, on expectations that a normal monsoon will improve its volumes and boost revenue growth. India accounts for 20 per cent of its consolidated revenues.

Analysts at Emkay Research said a favourable monsoon should see a buoyant demand for agrochemicals in the coming Kharif season. Also, a shift in crop pattern towards cotton, rice and maize will benefit the sector. The management expects the growth to continue in FY18, with revenues growing at 12-15 per cent and margins expanding 50-75 basis points (bps), on the back