27 February 2025, Brazil: Agrochemicals giant UPL Ltd has strengthened its presence in Brazil by increasing its investment in Origeo Comercio de Produtos Agropecuarios S.A., a joint venture with agribusiness leader Bunge. The additional funding, made through UPL’s step-down subsidiary UPL Global Ltd, UK, aims to support Origeo’s working capital and expansion.
Founded in 2021, Origeo provides integrated agricultural solutions, including farm inputs, financing, and technical support for Brazilian farmers. UPL confirmed in a regulatory filing that the investment aligns with its long-term agribusiness strategy and required no additional approvals.
The move comes as UPL reports a significant turnaround in financial performance. The company posted a net profit of ₹828 crore for the quarter, a sharp recovery from last year’s ₹1,217 crore loss. Revenue climbed 10% to ₹10,907 crore, driven by higher volumes and price increases, despite forex challenges in Brazil. EBITDA surged to ₹2,162 crore, with margins improving to 19.8% from 4.2% in the previous year.
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