India · Delayed Price · Currency is INR UPL Limited Earnings Call Transcripts
Fiscal Year 2026
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Record Q3 and nine-month results driven by strong volume growth, margin expansion, and disciplined execution, with all major regions contributing. Advanta IPO aims to unlock value and support deleveraging, while robust cash flow and improved gearing ratios position the group to meet upcoming debt maturities.
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Q2 FY 2026 saw 8% revenue growth and 40% EBITDA growth, with strong volume gains and margin expansion. Upgraded guidance projects 4-8% revenue and 12-16% EBITDA growth for FY 2026, supported by operational efficiency, deleveraging, and robust performance across all platforms.
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Q1 FY26 delivered 2% revenue growth and double-digit EBITDA gains, with strong India and seed platform performance offsetting Brazil headwinds. Net debt and working capital improved, and FY26 guidance for 4–8% revenue and 10–14% EBITDA growth is maintained.
Fiscal Year 2025
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Strong FY 2025 results with 8% revenue and 47% EBITDA growth, robust cash flow, and significant debt reduction. All business segments delivered growth, driven by innovation, operational discipline, and sustainability focus. FY 2026 guidance targets 4%-8% revenue and 10%-14% EBITDA growth.
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Q3 FY25 saw a strong recovery with 10% revenue growth, a 4x jump in EBITDA, and significant working capital and debt reduction. Full-year guidance for EBITDA growth and free cash flow is reaffirmed, supported by robust segment performance and successful capital raises.
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Q2 FY2025 saw a strong recovery with 9% revenue growth and improved margins, despite ongoing price pressure and higher tax charges. Net debt was reduced by INR 3,165 crores, and guidance for 4–8% revenue growth and 50% EBITDA growth for FY2025 was reaffirmed.
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Q1 FY25 saw flat revenue but strong volume growth offset by price declines, leading to a 28% drop in EBITDA and a net loss. Management remains confident in achieving FY25 guidance for revenue and EBITDA growth, with margin improvement expected in H2 as pricing stabilizes and high-cost inventory is cleared.