Mumbai, January 31, 2025 – UPL Limited (NSE: UPL, BSE: 512070), a global leader in sustainable agriculture solutions, has announced its unaudited financial results for the quarter and nine months ended December 31, 2024.
Key Financial Highlights (₹ in Crore)
| Metric | Q3 FY25 | Q2 FY25 | Q3 FY24 | 9M FY25 | 9M FY24 |
|---|---|---|---|---|---|
| Revenue from Operations | 10,907 | 11,090 | 9,887 | 31,064 | 29,020 |
| EBITDA (Excl. Exceptional Items) | 1,608 | 969 | (332) | 3,308 | 1,560 |
| Net Profit / (Loss) | 853 | (585) | (1,607) | (259) | (1,798) |
| EPS (₹ per share) | 9.98 | (5.84) | (16.91) | (1.79) | (18.11) |
- Crop Protection: ₹9,434 crore (YoY increase of 11%)
- Seeds: ₹1,009 crore (YoY increase of 8%)
- Non-Agro: ₹505 crore (YoY increase of 5%)
Operational and Strategic Updates
- Rights Issue:
The company successfully raised ₹3,375 crore through a rights issue of 9.38 crore partly paid-up equity shares at ₹360 per share. The proceeds have been partly utilized for debt reduction and working capital needs. - Investment in Advanta Enterprises:
Alpha Wave Global II, LP committed to investing $350 million for a 12.5% stake in Advanta Enterprises, UPL’s seed subsidiary. - Restructuring & Exceptional Items:
- ₹73 crore incurred towards restructuring costs (including severance expenses).
- ₹592 crore tax provision reversal following a favorable appellate order.
Management Commentary
Raj Kumar Tiwari, Whole-time Director, stated:"Our robust performance this quarter is a testament to our strong operational execution and strategic realignment. The successful rights issue and investment in Advanta strengthen our balance sheet and provide growth capital for future expansions."
Outlook & Conclusion
UPL remains focused on improving its financial metrics through cost rationalization, optimizing debt, and enhancing profitability in key markets. The company anticipates stronger demand for its crop protection and seed segments, driven by global agricultural trends.The Board remains committed to delivering long-term value to shareholders and maintaining its leadership position in the sustainable agriculture sector.