UPL Q2 FY26 Earnings Results

UPL is principally engaged in the business of agrochemicals, industrial chemicals, chemical intermediates, speciality chemicals and production and sale of field crops and vegetable seeds.

 

Q2 FY26 Earnings Results

• Revenue from Operations: ₹12,019 crore, up 31.1% QoQ from ₹9,359 crore in Q1 FY26, and up 9.5% YoY from ₹11,201 crore in Q2 FY25.

• EBITDA: ₹2,205 crore, up 40% YoY, with EBITDA margin expanding 410 basis points to 18.3%.

• Profit Before Tax (PBT): ₹838 crore, a strong turnaround from losses of ₹208 crore in Q1 FY26 and ₹312 crore in Q2 FY25.

• Profit After Tax (PAT): ₹612 crore, versus losses of ₹176 crore in Q1 FY26 and ₹585 crore in Q2 FY25.

• Earnings Per Share (EPS): Not directly stated, roughly estimated growth in line with PAT.

• Net debt reduced by ₹3,729 crore to ₹23,802 crore, reflecting strong cash flow and capital management.

• Contribution margin surged 21% YoY to ₹5,041 crore with 420 basis points expansion to 41.9%.

• Strong performance across platforms including UPL SAS and Advanta; UPL Corp faced challenges in Latin America.

• Management upgraded FY26 EBITDA growth guidance to 12-16% and maintained revenue guidance of 4-8%.

• Improved operational efficiency, financial discipline, and strategic capital management highlighted by management as key drivers for turnaround and growth.

 

Management Commentary & Strategic Decisions

• Jai Shroff, Chairman & Group CEO, emphasized strong first half with sustainable growth driven by market diversification, innovation, and manufacturing integration.

• Bikash Prasad, CFO, highlighted operational excellence, financial discipline, debt reduction, and improved gearing as foundations for long-term value creation.

• The company’s post-harvest business DECCO was integrated with Advanta to create synergies.

• Ratings outlook upgrade from ‘negative’ to ‘stable’ by S&P, Fitch, and Moody’s underscores financial resilience.

• Continued focus on capex for innovation, cost efficiencies, and portfolio expansion to support future growth.

• Strategic initiatives include rights issue capital infusion and active evaluation of strategic fund-raising, restructuring, and liquidity events.

 

 

Q1 FY26 Earnings Results

• Revenue: ₹9,359 crore, up 2% YoY.

• EBITDA: ₹1,303 crore, up 14% YoY; EBITDA margin of 14.1%.

• Profit After Tax: Loss of ₹176 crore, improved from ₹384 crore loss in Q1 FY25.

• Net debt reduced significantly by ₹6,129 crore compared to June 2024.

• Contribution margin improved by 390 basis points YoY to 43.4%.

• Continued improvement in working capital and balance sheet strength.

 

To view the company’s previous earnings and latest concall transcripts, click here  to visit the Alphastreet India news channel.