United Phosphorus Ltd - February, 2012

Date: February 3, 2012
Pages: 5
US$ 200.00
Publisher: Cni Research Ltd
Report type: Company Report
Delivery: E-mail Delivery (Word), CD-ROM Mail Delivery, Online Subscription, Hard Copy Mail Delivery, E-mail Delivery (PDF)

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United Phosphorus Ltd - February, 2012
3QFY12 Result Update
United Phosphorus reported robust Q3FY12 earnings, with net sales up 58% YoY on account of strong growth in North America, Europe, Brazilian acquisition & exchange fluctuation of around 19%. On PAT level, results were largely in line on the back of a higher tax rate (due to a one-off impact) and higher minority interest/lower associate income. Better realisation (+8% YoY), supported by new acquisitions and rupee depreciation helped company report strong numbers. Overall, these are a good set of numbers and we remain positive on the stock. We reiterate our rating ‘Accumulate’ as the stock with price target of Rs 204.
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