UPL shares jump 5% on speciality chemical business prospects
Executive Brief • Key Highlights
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- ✓UPL shares rose 5 per cent to ₹514 on Monday after reports highlighted growth potential for its speciality chemicals business, Superform.
- ✓Motilal Oswal said, "Superform is looking to re-accelerate speciality-chemicals growth." The company plans to expand into battery chemicals and increase cyanide capacity, aiming to capture demand outside of China.
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- BUSINESS
- Reported By
- Business Line
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- 2 Minute(s)
- Market Focus
- India Economy
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.
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