Earnings Review
UPL consol PAT up 22.4 times Jan-Mar 2024; misses mkt view
This story was originally published at 17:04 IST on 12 May 2025
Register to read our real-time news.Informist, Monday, May 12, 2025
Please click here to read all liners published on this story
--UPL Jan-Mar consol net profit INR 8.96 bln
--Analysts saw UPL Jan-Mar consol net profit INR 11.14 bln
--UPL Jan-Mar consol net profit INR 8.96 bln vs INR 400 mln year ago
--UPL Jan-Mar consol revenue INR 155.73 bln vs INR 140.78 bln year ago
--UPL FY25 consol net profit INR 8.97 bln vs INR 12.00 bln loss year ago
--UPL FY25 consol revenue INR 466.37 bln vs INR 430.98 bln year ago
--UPL Jan-Mar consol EBITDA INR 32.4 bln vs INR 19.3 bln year ago
--UPL Jan-Mar consol EBITDA margin 20.8% vs 13.7% year ago
--UPL: Net debt INR 138.6 bln as on Mar 31
--UPL Jan-Mar crop protection sales INR 133.74 bln vs INR 124.05 bln yr ago
--UPL Jan-Mar seeds business revenue INR 15.45 bln vs INR 11.30 bln yr ago
--UPL to pay INR 6 per share dividend
--UPL Jan-Mar one-time cost INR 2.75 bln
--UPL Jan-Mar Latin America revenue INR 50.8 bln vs INR 49.7 bln year agO
--UPL Jan-Mar Europe revenue INR 31.1 bln vs INR 30.8 bln year ago
--UPL Jan-Mar India revenue INR 14.0 bln vs INR 12.0 bln year ago
--UPL Jan-Mar North America revenue INR 27.0 bln vs INR 15.3 bln year ago
--UPL FY25 consol EBITDA INR 81.2 bln vs INR 55.2 bln year ago
--UPL FY25 consol EBITDA margin 17.4% vs 12.8% year ago
--UPL appoints Bikash Prasad as group CFO effective Jun 1
By Afra Abubacker
NEW DELHI – Agrochemicals maker UPL Ltd. reported a sharp jump in its consolidated net profit for the March quarter because of a low base, growth in sales volume, and robust performance across segments. The company, however, missed the Street's estimate.
The company posted a consolidated net profit of INR 8.96 billion for the March quarter, up 22.4 times the net profit of INR 400 million reported for the corresponding quarter of the previous year. Analysts expected the company to post a net profit of INR 11.14 billion. Sequentially, the net profit was up 8.2%.
The company's consolidated revenue rose 10.6% on year to INR 155.73 billion in Jan-Mar. Analysts saw the consolidated revenue at INR 152.24 billion. Sequentially, it was up 42.8%. Other income for the quarter fell 15.1% on year to INR 1.1 billion.
For the financial year 2024-25 (Apr-Mar), the company reported a consolidated net profit of almost INR 9.0 billion against a loss of INR 12.00 billion for the previous year. The consolidated revenue for FY25 was INR 466.4 billion, up 8% from the previous year.
The company's consolidated earnings before interest, tax, depreciation, and amortisation for the March quarter surged to INR 32.4 billion, up 68% from INR 19.3 billion in the year-ago period. The EBITDA margin was 20.8%, up 710 basis points from the year-ago quarter. Growth in sales volume of crop protection, seeds, and the specialty chemical segment led to the sharp improvement in the company's margin.
For FY25, the company reported a consolidated EBITDA of INR 81.2 billion, up 47% from INR 55.2 billion the previous year. The company reported an EBITDA margin of 17.4% for FY25, up 460 basis points from last year.
"Strong free cash generation and tighter working capital management have further strengthened our balance sheet," Mike Frank, chief executive officer of UPL Corp., said in the company's press release.
The agrochemicals company's cost of materials consumed fell 5% on a year-on-year basis during the March quarter. The cost of materials consumed was INR 85.5 billion. Finance cost for the March quarter fell nearly 16.2% to INR 9.1 billion from the year-ago quarter. Consequently, the company's total expenses fell 1% on year to INR 140.01 billion. The company reported an exceptional cost of INR 2.75 billion for the quarter.
UPL's net debt as of Mar. 31 was lower by INR 83.2 billion at INR 138.6 billion compared with a year ago. This reduction is attributed to higher operating free cash flows and gross proceeds from the rights issue and Advanta stake sale.
UPL has announced a dividend of INR 6 per equity share of INR 2 each fully paid-up and partly paid-up equity shares in proportion to their share in the paid-up share capital, the release said.
Revenue from the company's crop protection business rose to INR 133.74 billion during the March quarter from INR 124.05 billion a year ago. Revenue from the seeds business rose to INR 15.45 billion from INR 11.30 billion in the same quarter last year.
The company reported the highest revenue growth in Latin America compared with that of other regions. The company's Europe and India revenues were INR 31.1 billion and INR 14.0 billion, respectively. Revenue from Europe was up 1% on year and that from India up 17% on year. UPL's North America revenue grew 77% on year to INR 27.0 billion.
UPL has appointed Bikash Prasad as GROUP CHIEF FINANCIAL OFFICER with effect from Jun. 1, replacing Anand Vora, the release said. On Monday, shares of UPL closed at INR 676.85 on the National Stock Exchange, up 0.3% from Friday. Intraday, the shares rose to a two-year high of INR 699.45, after the company announced its earnings. End
US$1 = INR 85.37
Edited by Ashish Shirke
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
