Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

High Yield Experts

Senior Credit Analyst, Lucror Analytics

Trung Nguyen

Senior Credit Analyst

Credit

<p><br>UPL Limited’s Q2/22-23 results were mixed. The company continued to beat estimates and guidance in terms of revenues and earnings. That said, negative developments included the large increase in working capital and operating cash outflows, a major share buyback and a substantial net debt increase. Overall, the pace of deleveraging fell far short of expectations and guidance. We highlight that the rating agencies are expecting debt reduction in FY 2022-23. Failure to achieve this could result in UPL becoming a fallen angel.</p>

 UPL Limited’s Q2/22-23 results were mixed. The company continued to beat estimates and guidance in terms of revenues and earnings. That said, negative developments included the large increase in working capital and operating cash outflows, a major share buyback and a substantial net debt increase. Overall, the pace of deleveraging fell far short of expectations and guidance. We highlight that the rating agencies are expecting debt reduction in FY 2022-23. Failure to achieve this could result in UPL becoming a fallen angel.

UPL Limited - Earnings Flash - Q2 FY 2022-23 Results - Lucror Analytics

UPL Ltd

UPL Limited - Earnings Flash - Q2 FY 2022-23 Results - Lucror Analytics