UPL Limited (UPL) Financial Results — Revenue ₹51,839 Cr

Revenue: ₹51,839 CrNet Profit: ₹4

📢 Key Event
UPL reports FY26 record profit, 4x PBT growth, and $850M debt reduction

🔄 What Changed
PBT grew ~4x YoY; operational PATMI >2.5x YoY; gross debt down $850M; net debt/EBITDA improved to 1.6x; revenue up 11% YoY; EBITDA up 18% YoY

🔮 What's Next
Accelerating Profitable Growth through scaled sustainable business streams; focus on market opportunities and long-term value creation

💡 Investor Takeaway
UPL delivered record financial performance and strengthened its balance sheet, positioning it for sustained growth in global agriculture.

UPL reported FY26 revenue of ₹51,839 crores, up 11% YoY, with net profit (PBT) growing ~4x year-on-year and operational PATMI exceeding 2.5x the prior year. EBITDA rose 18% to ₹9,588 crores, while gross debt declined by $850 million to $2.3 billion, improving leverage ratios to 1.6x Net Debt/EBITDA. The company beat guidance across revenue, EBITDA, and gearing metrics, driven by volume growth, favorable FX, and margin expansion from higher capacity utilization and lower input costs. Management highlighted strong performance in UPL Corp (+11% YoY revenue) and Advanta (+23% YoY), with regional growth led by North America and Europe. Despite macroeconomic headwinds including US tariffs and commodity price pressures, UPL repaid $500 million of debt and refinanced short-term obligations to strengthen liquidity. The results underscore a strategic shift toward profitable growth and sustainable agriculture, with leadership expressing confidence in long-term value creation.

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