UPL Ltd
NSE:UPL
UPL Ltd
UPL Ltd., originally founded in 1969 as United Phosphorus Limited, has grown from its humble beginnings as a small Indian chemical manufacturer into one of the largest global players in the agricultural solutions industry. Positioned as a true advocate for sustainable agriculture, the company’s operations span the entire value chain, encompassing research and development, production, and distribution of agrochemicals and crop protection products. With a portfolio ranging from seeds to post-harvest solutions, UPL addresses the diverse needs of farmers across over 130 countries, offering innovative solutions that enhance agricultural productivity.
Central to UPL's business model is its ability to integrate advanced technologies and sustainable practices with a keen understanding of regional agricultural challenges. This approach allows the company to develop tailored products like herbicides, fungicides, and insecticides that maximize crop yield while minimizing environmental impact. Revenue flows primarily from the sale of these products, but UPL also focuses on strategic collaborations and acquisitions to broaden its intellectual property portfolio and market reach. By emphasizing partnerships with key stakeholders in the agriculture sector, UPL not only boosts its financial performance but also reinforces its commitment to transforming global agriculture through integrated, sustainable practices.
UPL Ltd., originally founded in 1969 as United Phosphorus Limited, has grown from its humble beginnings as a small Indian chemical manufacturer into one of the largest global players in the agricultural solutions industry. Positioned as a true advocate for sustainable agriculture, the company’s operations span the entire value chain, encompassing research and development, production, and distribution of agrochemicals and crop protection products. With a portfolio ranging from seeds to post-harvest solutions, UPL addresses the diverse needs of farmers across over 130 countries, offering innovative solutions that enhance agricultural productivity.
Central to UPL's business model is its ability to integrate advanced technologies and sustainable practices with a keen understanding of regional agricultural challenges. This approach allows the company to develop tailored products like herbicides, fungicides, and insecticides that maximize crop yield while minimizing environmental impact. Revenue flows primarily from the sale of these products, but UPL also focuses on strategic collaborations and acquisitions to broaden its intellectual property portfolio and market reach. By emphasizing partnerships with key stakeholders in the agriculture sector, UPL not only boosts its financial performance but also reinforces its commitment to transforming global agriculture through integrated, sustainable practices.
Record Quarter: UPL delivered another record quarter, with strong revenue and earnings growth over a tough prior-year comparison.
Revenue Growth: Revenue reached INR 12,269 crores, up 12% YoY, driven by 8% volume growth despite pricing pressures.
Margin Expansion: Contribution and EBITDA margins improved, with group EBITDA up 13% to INR 2,434 crores and margin holding steady at 20%.
Profit Surge: Profit before tax jumped 90% YoY to INR 671 crores; operating PATMI rose 45%.
Regional Momentum: All regions saw growth; Europe and Rest of World delivered especially strong results, while US was impacted by tariff-related sales delays.
Deleveraging: Net debt reduced by over $400 million YoY, with improved gearing ratios; further deleveraging expected via Advanta IPO proceeds.
Full-Year Guidance: Management reaffirmed FY26 guidance of 4–8% revenue growth and 12–16% EBITDA growth, expressing confidence in Q4 delivery.
