UPL Q1 Results: Profit jumps 29% YoY to Rs 877 crore, beats estimates

New Delhi: Pesticides and agrochemicals manufacturer UPL on Monday reported a 28.54 per cent rise in the consolidated to Rs 877 crore in the quarter ended June 30, 2022, compared with Rs 677 crore in the same quarter last year.

The company had reported a consolidated net profit of Rs 1,379 crore in the preceding quarter (Q4FY22) with a total income from operations at Rs 15,861 crore.

The performance beat Street estimates as analysts in an ET NOW poll had estimated a bottomline of Rs 640 crore during the April-June period of the current fiscal.


The company's revenue from operations jumped over 27 per cent to Rs 10,821 crore in June 2022 quarter as compared to Rs Rs 8,515 crore in the same quarter the previous year.

EBITDA for the quarter stood at Rs 2,343 crore, ahead of ET NOW poll of Rs 2,087 for the period, whereas margins stood at 21.7 per cent, largely in line with the expectations of 21.5 per cent.

In its media release, the company said that the revenues remained strong on the back of better product realizations, favourable exchange rate and higher volumes, whereas EBITDA was supported by efficient supply chain management. After a strong end to FY2022, we continued to see solid growth momentum in Q1 FY23, as the strong agri commodity prices drove significant uptick in price realizations as well as healthy demand from growers, said Jai Shroff, CEO, UPL.

The EBITDA margin remained largely intact despite the significant input cost inflation and a challenging macro-economic environment exacerbated by geopolitical issues, he added.

"This was driven by proactive pricing actions coupled with efficient supply chain management that led to the strong topline growth getting translated into robust operating profitability growth as well."

During the quarter, the company entered into a new supply agreement with Bayer for 'Spirotetramat', an insecticide to develop novel differentiated pest management solutions, whereas UPL also launched Zoatin, a bionutritional to increase crop health and yield in partnership with Christian Hansen.