Logo


Latin America performance steadies the ship for UPL, say analysts

India, European biz underperformed, but the firm has maintained its FY20 revenue guidance

stocks, markets, dividends
Representative Image

UPL’s moderate 7 per cent growth and below-expectation profit in the June quarter have affected the Street’s sentiments. The stock has corrected about a fifth over the past month, given the underperformance in key markets, one-offs, and higher taxes. India sales, which constitute about 15 per cent of the total, were down 8 per cent year-on-year due to the delays in crop sowing because of a deficient monsoon. Even European sales (about a fifth of overall) were affected due to the unprecedented heat wave, which led to uncertainty among farmers. Sales in Europe declined 3 ...