India · Delayed Price · Currency is INR UPL Limited Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 saw double-digit revenue, EBITDA, and net income growth, with margin expansion and significant deleveraging. All business segments contributed to improved performance, and the outlook for FY 2027 remains positive despite macro uncertainties, with continued focus on innovation, capital discipline, and sustainable growth.
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Record Q3 and nine-month results driven by 12% revenue and 13% EBITDA growth, with all regions contributing. Improved margins, reduced net debt, and strong segment performance support confidence in meeting FY 2026 guidance. Tariff and market headwinds persist but are being managed.
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Q2 FY 2026 saw strong revenue and EBITDA growth, margin expansion, and a swing to profitability, with robust performance across global and specialty segments. Improved leverage and upgraded guidance reflect operational discipline, despite ongoing market and geopolitical challenges.
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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 with strong volume growth offset by price declines, leading to lower margins and a net loss. Guidance for FY25 remains intact, with expectations of margin recovery and EBITDA growth over 50% in H2 as high-cost inventory is cleared and pricing stabilizes.