UPL Posts Rs 612 Cr Profit; Upgrades FY26 Guidance

New Delhi, Nov 6 (PTI) Agro-chemicals maker UPL Ltd reported a second-quarter consolidated net profit of Rs 612 crore on Thursday, mainly due to higher volumes and favourable foreign exchange movements.

The company had posted a net loss of Rs 585 crore in the same quarter of the previous fiscal, according to a regulatory filing.

The total income rose 8.37 per cent to Rs 12,019 crore during the July-September quarter from Rs 11,090 crore a year earlier.

Its revenue growth was driven by higher volumes and supported by favourable forex, the company said.

Expenses remained almost flat at Rs 11,573 crore versus Rs 11,505 crore in the year-ago period.

"We are pleased to report a strong first half, with a superior Q2 building on the momentum from the previous quarter," UPL Group CEO and Chairman Jai Shroff said in a statement.

The company's deep relationships in key markets and diversified customer base continue to drive sustainable growth, he added.

UPL's backwards-integrated manufacturing and innovation-led R&D pipeline are strengthening quality and resilience across the business, Shroff said.

"We remain focused on unlocking value through our strategically built platforms and are actively evaluating opportunities, including restructuring, strategic fund-raising, and potential liquidity events," he said.

The company's Group CFO Bikash Prasad called Q2 a "standout quarter, underscoring our operational excellence and financial discipline across platforms".

It delivered broad-based EBITDA growth, reduced net debt, lowered finance costs through effective capital management, and improved gearing, resulting in strong profit after tax and minority interest, he said.

"With a strong H1 behind us and a favourable outlook for H2, we are pleased to upgrade our FY26 EBITDA guidance to 12-16 per cent growth over last year, reaffirming our focus on sustained growth for our shareholders," Prasad added.

Among platforms, UPL Corp grew 12 per cent and Advanta rose 26 per cent, driven by volumes, while UPL SAS declined 10 per cent due to unfavourable weather conditions.

By region, North America led with 63 per cent growth, supported by Latin America's 13 per cent rise.

Net working capital stood at Rs 15,463 crore as of September 2025.

Its net debt fell to Rs 23,802 crore in September 2025, down Rs 3,729 crore from a year earlier. Adjusted for perpetual bonds, debt was lower by around Rs 7,100 crore.

UPL also completed the integration of post-harvest business DECCO with Advanta and received the final Rs 1,685 crore (USD 200 million) from its rights issue in September 2025.