External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

External broker reports(aggregated public sources)

A Relationship Beyond Broking

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

Thematic (Sector/Industry)

<ul>
<li>Potential deflation in input costs is margin accretive for Indian CPC stocks.</li>
<li>FY23 fertilizer subsidy may touch Rs1.75-Rs2trn.</li>
<li>IMD forecast for South West Monsoon an added catalyst.</li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


Potential deflation in input costs is margin accretive for Indian CPC stocks.
FY23 fertilizer subsidy may touch Rs1.75-Rs2trn.
IMD forecast for South West Monsoon an added catalyst.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Chemical Sector- Indian Met Forecast Positive for Kharif Prospects Facing with High Input Costs

<ul>
<li>We see the likely hit on demand as well as margins from the supply disruption across energy, fertilizers and chemicals sectors, aggravated by the Russia-Ukraine conflict, cast a shadow on 4QFY22E for NBIE Chemical stocks.</li>
<li>The buoyancy in freight rates (up more than 100% YoY) is an added worry.</li>
<li>On the brighter side, we see pricing power supporting margins, barring in the case of Coromandel International (CRIN).</li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


We see the likely hit on demand as well as margins from the supply disruption across energy, fertilizers and chemicals sectors, aggravated by the Russia-Ukraine conflict, cast a shadow on 4QFY22E for NBIE Chemical stocks.
The buoyancy in freight rates (up more than 100% YoY) is an added worry.
On the brighter side, we see pricing power supporting margins, barring in the case of Coromandel International (CRIN).

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Chemical Sector: Sector Margins to Hold up Despite Cost Push

External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<div><div><div><div><ul><li>UPLL delivered a stellar Q4 performance, beating consensus topline/EBITDA/Adj.</li><li>UPLL’s healthy double-digit Q4 top-line growth was supported by robust growth across geographies, with YoY growth of 62%/38%/25%/21% in India/North America/ROW/LatAM.</li><li>Management has guided for revenue/EBITDA growth of 10%/12-15% YoY for FY23E, supported by strong commodity prices, a favorable environment for biosolutions and conventional crop protection amid high costs and reduced availability of fertilizers.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p></div></div></div></div>

UPLL delivered a stellar Q4 performance, beating consensus topline/EBITDA/Adj.UPLL’s healthy double-digit Q4 top-line growth was supported by robust growth across geographies, with YoY growth of 62%/38%/25%/21% in India/North America/ROW/LatAM.Management has guided for revenue/EBITDA growth of 10%/12-15% YoY for FY23E, supported by strong commodity prices, a favorable environment for biosolutions and conventional crop protection amid high costs and reduced availability of fertilizers.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Upl - Strong Performance in Q4; Transformation in Action

External broker reports(aggregated public sources), Edelweiss Broking Limited

Edelweiss

Edelweiss Broking Limited

Edelweiss Broking Limited is an Indian Financial services company based in Mumbai, India. The company is a subsidiary of Edelweiss Group. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>UPL, incorporated in 1969, is a global player in the agro-chemicals industry with strong presence in off-patent market of US and Europe</li><li>UPL is a direct proxy for increase in demand for food crops due to rising commodity prices, high population growth and high demand for bio-fuel</li><li>The recent acquisition of Arysta, will further increase UPL’s global scale and make it the 5th largest agrochemical player globally</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

UPL, incorporated in 1969, is a global player in the agro-chemicals industry with strong presence in off-patent market of US and EuropeUPL is a direct proxy for increase in demand for food crops due to rising commodity prices, high population growth and high demand for bio-fuelThe recent acquisition of Arysta, will further increase UPL’s global scale and make it the 5th largest agrochemical player globallyContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

UPL Limited is an Indian multinational agrochemical and specialty chemicals company that manufactures and markets a comprehensive range of sustainable agriculture products and solutions. These include conventional crop protection products like pesticides, fungicides, herbicides, and insecticides, as well as seeds, bio-solutions, and post-harvest solutions. The company is headquartered in Mumbai, India, and was founded on May 29, 1969.

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UPL (UPLL IN)

Chemical Sector- Indian Met Forecast Positive for Kharif Prospects Facing with High Input Costs

The Indian Agrochemicals sector looks better off compared to the prospects for exports in FY23. This is based on potential divergence in volume...

Nirmal Bang

Chemical Sector: Sector Margins to Hold up Despite Cost Push

We see the likely hit on demand as well as margins from the supply disruption across energy, fertilizers and chemicals sectors, aggravated by the...

Nirmal Bang

Upl - Strong Performance in Q4; Transformation in Action

The robust performance was aided by strong double-digit growth across geographies, except for Europe, which registered a modest 2% YoY growth.

Emkay

Pick of the Week: UPL Limited

UPL, incorporated in 1969, is a global player in the agro-chemicals industry with strong presence in off-patent market of US and Europe

Edelweiss

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