UPL's turnaround script for FY19: It hasn't been the best of starts, indeed

After last year's miss, it has guided for robust show in the current year on improvement in global prices, better margins and strong India show

It has not been the best of starts for UPL. The company (earlier known as United Phosphorus and in the businesses of agrochemicals, industrial chemicals, and chemical intermediates) failed to hit its annual revenue growth expectation of eight to 10 per cent for 2017-18. This is the first time it happened in the last five years.

This, with concerns on high raw material costs, falling prices in the key markets of Brazil and North America, and currency fluctuations, besides continuous capital expenditure, has led to muted sentiment for the stock. It has shed about eight per cent in a week