Global AgricultureCrop Protection

UPL Ltd Q1FY22 Net Profit rises 23% to Rs. 678 crore

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30 July 2021, New Delhi: UPL Ltd. (NSE: UPL & BSE: 512070), a world leader in sustainable agriculture products and solutions, today reported robust financial results for the first quarter ended June 30, 2021.

Financial Performance

Particulars (Rs. Cr)Q1FY22Q1FY21YoY % Chg
EBITDA Margin (%)21.9%21.7%
Net Profit67855023%

Q1 Revenue from operations increased 9%, to Rs. 8,515 cr.

Volume growth 6%, price increase of 2% and currency impact of 1%

EBITDA rose 9% to Rs. 1,862 cr.

Supported by favorable product mix and realisations partly offset by cost pressures

Net Profit jumped 23% to Rs. 678 cr.

Commenting on the performance of the first quarter results Mr. Jai Shroff, CEO – UPL Ltd., said, “We have delivered strong and robust performance owing to our differentiated offerings, digitization, and collaborations across the food value chain. We continue to drive sustainable agriculture, launching our new global business unit

NPP’ – Natural Plant Protection, dedicated to natural and biologically derived agricultural inputs and technologies. We also launched, a digital platform that advances resilience for farmers and the food system. In alignment to our OpenAg purpose, we are confident that these businesses will enable us to shape and scale sustainable agriculture. We remain committed to innovation and transformation in the food system, thereby delivering value to our stakeholders.

Business Performance

Region (Rs. Cr)Q1FY22Q1FY21YoY % Chg
Latin America2,5072,01524%
North America1,2211,02719%
Rest of the World1,3501,578(14%)
  • Higher volumes and strong realisations in India drove growth despite delayed monsoons and second wave of Covid, market grew by 6-7% during the quarter
  • Strong growth across LATAM with Brazil leading at 40% increase vs Q1 last year
  • Higher volumes, strong realisations and increase in acreages in major row crops in North America
  • Supply constraints and unfavorable weather conditions in Europe
  • Unfavorable weather, reduced volumes and supply constraints offsets the growth from some ROW regions

Other Developments

  • UPL announced the launch of ‘’ – a digital platform which fosters resilient farmers, making agriculture simple, profitable and sustainable for generations to come through technology-led solutions
  • UPL announced the launch of ‘NPP’ – Natural Plant Protection – a new global business unit housing UPL’s comprehensive portfolio of natural and biologically derived agricultural inputs and technologies. NPP will act as a stand-alone brand, consolidating UPL’s existing biosolutions portfolio, network of R&D laboratories and facilities worldwide, which currently accounts for 7% of UPL’s total revenues. NPP’s global offering will continue to benefit from UPL’s extensive global distribution footprint, drawing on innovation, research, and development capabilities, and will be supported by UPL’s proven ability to bring products to market on a global scale
  • Fitch Ratings and S&P Global Ratings retained the Investment Grade credit rating for UPL; Fitch upgraded its Credit outlook to “Stable”
  • The company received the prestigious Asian Sustainability Leadership Award for Excellence in Sustainability Performance Management for displaying commendable commitment to sustainability
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