FY20 debt reduction, profit target a tough ask for UPL: Analysts

UPL has lost more than 9 per cent in two trading sessions because of a weaker-than-expected September quarter performance. Ebitda growth of 11 per cent year-on-year failed to impress the Street as it would become tough for the company to hit the FY20 target of 16-20 per cent.

The operating profit miss was mainly because of the gross margin contraction led by adverse product mix, geographical challenges, and currency movement. The key disappointment at the net profit level was led by a higher-than-anticipated forex loss and tax rate. Among its key geographies, Europe continued to …

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