Morgan Stanley Asia buys 15.8 lakh UPL shares for ₹82.24 crore in block deal

Morgan Stanley Asia on Thursday (July 31) purchased 15.8 lakh shares of agrochemicals major UPL Ltd in a block deal. The shares were acquired at a price of ₹520.54 apiece, taking the total transaction value to ₹82.24 crore.Fourth Quarter Results

For the March quarter, UPL reported 11% growth in its topline to ₹15,573 crore, while its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) grew by 68% from last year. EBITDA margin during the quarter increased to 20.79% from 13.7% during the same quarter last year.
Also Read: UPL shares fall after China imposes anti-dumping duty on imports of Cypermethrin from IndiaRevenue growth during the quarter was led by volume growth and robust performances across businesses, UPL wrote in its post-earnings statement. For the full year, revenue growth was led by volume growth in crop protection, seeds and specialty chemical markets.

UPL also managed to reduce its net debt during the quarter to ₹8,320 crore from ₹13,860 crore during the same quarter last year, aided by strong operating free cash flow of ₹4,450 crore and proceeds from two capital transactions.

Shares of UPL Ltd ended at ₹703.90, down by ₹18.15, or 2.51%, on the BSE.

Also Read: UPL says pricing environment stabilising, inventory position improved