United Phosphorus: Downgrade earnings due to lower sales growth guidance ::Kotak Securities PDF link

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United Phosphorus: Downgrade earnings due to lower sales growth guidance
` UPL cuts FY2012 sales guidance to 25-30% from 35-40%
` UPL to report volume decline in 4QFY12E due to winter in EU/NA and
drought conditions in LA
` Reported 4QFY12E PAT likely to be down 27% yoy
` We cut FY12/13E PAT by 19/15% respectively

http://www.kotaksecurities.com/pdf/indiadaily/indiadaily05032012.pdf