UPL: Steady outlook after transient hiccups

Earnings driving stock price higher, any big acquisition may stretch firm's balance sheet: Analysts

UPL’s performance for the June quarter may have been impacted by multiple factors, but a 10 per cent volume growth was still encouraging. On revenues, there was a disappointment as despite launch of three new products domestic growth came at just four per cent year-on-year, impacted by goods and services tax (GST)-led destocking.

Latin American business grew six per cent and was hit by poor commodity prices, high channel inventories and drought in Mexico. The European growth of four per cent too was impacted by hot weather in South Europe despite beet acreage improving. UPL's overall revenue growth of