UPL shares jump 5% on speciality chemical business prospects
Shares of UPL Ltd rose about 5 per cent to ₹514 on Monday after brokerage reports highlighted the growth potential of Superform, the company's speciality chemicals business subsidiary. The brokerage said Superform is targeting revenue growth of 20-23 per cent annually, with phos
Shares of UPL Ltd rose about 5 per cent to ₹514 on Monday after brokerage reports highlighted the growth potential of Superform, the company's speciality chemicals business subsidiary. The brokerage said Superform is targeting revenue growth of 20-23 per cent annually, with phosphorus and cyanide chemistries emerging as key growth drivers. The Superform business will also expanding into battery chemicals, seeking to capitalise on demand for specialised materials and opportunities to diversify
Shares of UPL Ltd rose about 5 per cent to ₹514 on Monday after brokerage reports highlighted the growth potential of Superform, the company's speciality chemicals business subsidiary.
The brokerage said Superform is targeting revenue growth of 20-23 per cent annually, with phosphorus and cyanide chemistries emerging as key growth drivers.
The Superform business will also expanding into battery chemicals, seeking to capitalise on demand for specialised materials and opportunities to diversify global supply chains beyond China.
"Superform bis looking to re-accelerate speciality-chemicals growth, targeting a 45-50 per cent contribution to total revenue over time, while clocking a 20 per cent revenue CAGR, with the segment likely to outpace overall business growth", said a Motilal Oswal Financial Services report.
It added that Superform plans annual capital expenditure of $100 million to $125 million through FY30 to support its expansion plans.
