Agriculture is a very seasonal activity and that has an impact on companies in this sector.
Specifically for UPL Pls see last few years trend between March and June quarters. There has been a 33% variance in sales, this year has been exceptional due to excess inventory from China and hence it’s been a 50% variance.
Main thing to monitor is how they are in the middle of reorganizing their business into the 4 pillars and their debt reduction effort. Promoter interest is another variable.
It’s a reasonably global company and looks attractive from an entry price standpoint. Offers decent dividends Would make sense to take a broader longer duration view and not one quarter result
Disclosure: not invested. My comment is not a recommendation to buy or sell. It’s on my radar
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