{"id":179341,"date":"2026-02-03T07:40:23","date_gmt":"2026-02-03T12:40:23","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=179341"},"modified":"2026-02-03T07:40:26","modified_gmt":"2026-02-03T12:40:26","slug":"upl-q3-fy26-earnings-results","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/upl-q3-fy26-earnings-results\/","title":{"rendered":"UPL Q3 FY26 Earnings Results"},"content":{"rendered":"\n<p>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.<\/p>\n\n\n\n<div style=\"height:35px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Q3 FY26 Earnings Results <\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Revenue from Operations:<\/strong> \u20b912,269 cr, +12% YoY vs Q3 FY25 (\u20b910,907 cr) driven by volume growth and favourable forex. <\/li>\n\n\n\n<li><strong>EBITDA:<\/strong> \u20b92,434 cr, +13% YoY; EBITDA Margin: 19.8%, reflecting operational improvement.<\/li>\n\n\n\n<li><strong>PAT:<\/strong> \u20b9452 cr (Operational PATMI basis, <em>after excluding prior-year tax reversal comparatives<\/em>), +45% YoY; <em>reported PAT was ~\u20b9490 cr<\/em> with a decline in headline profit due to base effects and higher costs. <\/li>\n\n\n\n<li><strong>EPS:<\/strong> \u20b94.90 (reported diluted basic EPS decline versus prior year base with tax reversal impact).<\/li>\n\n\n\n<li><strong>9M YTD:<\/strong> Revenue \u20b933,504 cr +8% YoY, EBITDA \u20b95,941 cr +22% YoY, Operational PATMI \u20b9784 cr showing consistent growth in first nine months.<\/li>\n<\/ul>\n\n\n\n<div style=\"height:34px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Management Commentary &amp; Strategic Decisions<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Growth drivers:<\/strong> Management highlighted broad-<a href=\"https:\/\/www.bseindia.com\/xml-data\/corpfiling\/AttachLive\/169f0abe-caa2-4e59-abc2-92fd840f6567.pdf\" target=\"_blank\" rel=\"noopener\">based revenue growth<\/a> led by herbicides, fungicides and seeds (Advanta platform) with contribution margin expansion supported by better product mix and capacity utilisation.<\/li>\n\n\n\n<li><strong>Operational excellence:<\/strong> Leadership underscored intelligent cost control and enhanced contribution margins, with balance sheet deleveraging, net debt reduced by \u20b92,553 cr to \u20b923,317 cr; Net Debt\/EBITDA improved to ~2.5x. <\/li>\n\n\n\n<li><strong>Challenges noted:<\/strong> Base-impact effects, finance costs and working capital changes (higher inventory\/receivables) pressed reported profit; operational cash flow remained mixed. <\/li>\n\n\n\n<li><strong>Guidance &amp; strategy:<\/strong> Management reaffirmed full-year guidance of midsingle digit revenue growth and double-digit EBITDA growth, with continued focus on sustainable agrochemical leadership, diversified platform growth and execution discipline. <\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"839\" height=\"1024\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-35-839x1024.png\" alt=\"\" class=\"wp-image-179342\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-35-839x1024.png 839w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-35-246x300.png 246w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-35-768x937.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-35-1259x1536.png 1259w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-35.png 1489w\" sizes=\"auto, (max-width: 839px) 100vw, 839px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Q2 FY26 Earnings Results <\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Revenue from Operations:<\/strong> \u20b912,019 cr, +9.5% YoY and strong +31.1% QoQ from Q1 FY26.<\/li>\n\n\n\n<li><strong>EBITDA:<\/strong> \u20b92,205 cr, +40% YoY; EBITDA Margin: 18.3% with margin expansion.<\/li>\n\n\n\n<li><strong>PAT:<\/strong> \u20b9612 cr, a strong turnaround from PAT losses in prior year (vs \u2013\u20b9585 cr in Q2 FY25).<\/li>\n\n\n\n<li><strong>Other key metrics:<\/strong> PBT \u20b9838 cr vs loss last year; <strong>EPS:<\/strong> \u20b96.74. <\/li>\n<\/ul>\n\n\n\n<div style=\"height:34px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Management Commentary Q2<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Management described a robust earnings turnaround, with revenue growth led by improved crop protection demand and segment performance, driving margin expansion. <\/li>\n\n\n\n<li>Balance sheet improvement and return to profitability after prior-year losses underscored management\u2019s focus on operational leverage and cost optimisation. <\/li>\n\n\n\n<li>Leadership emphasised diversified regional growth, with Advanta and UPL Corp platforms contributing materially to performance. <\/li>\n<\/ul>\n\n\n\n<p>To view the company\u2019s previous earnings and latest concall transcripts,&nbsp;<a href=\"https:\/\/alphastreet.com\/india\/\">click here<\/a>&nbsp; to visit the Alphastreet India news channel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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. Q3 FY26 Earnings Results Management Commentary &amp; Strategic Decisions Q2 FY26 Earnings Results Management Commentary Q2 To view the company\u2019s previous earnings and latest concall transcripts,&nbsp;click here&nbsp; to visit the [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,5753],"tags":[9019],"class_list":["post-179341","post","type-post","status-publish","format-standard","hentry","category-infographics","category-industrials","tag-specialty-chemicals"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":179005,"url":"https:\/\/alphastreet.com\/india\/vinati-organics-q3-fy26-earnings-results\/","url_meta":{"origin":179341,"position":0},"title":"Vinati Organics Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"February 2, 2026","format":false,"excerpt":"Incorporated in 1989, Vinati Organics Ltd manufactures specialty organic intermediaries and Monomers. Q3 FY26 Earnings Results Revenue from Operations: Consolidated \u20b9531 cr, +1.7% YoY vs \u20b9522 cr, +1.5% QoQ vs \u20b9523 cr; standalone \u20b9529 cr (+1.7% YoY); modest growth amid soft demand, stable volumes\/pricing in specialty chemicals. EBITDA: Consolidated \u20b9156\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-16.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-16.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-16.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-16.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-16.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-16.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":179000,"url":"https:\/\/alphastreet.com\/india\/tata-chemicals-q3-fy26-earnings-results\/","url_meta":{"origin":179341,"position":1},"title":"Tata Chemicals Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"February 2, 2026","format":false,"excerpt":"Incorporated in 1939, Tata Chemicals Ltd manufactures and exports basic chemistry and specialty products. Q3 FY26 Earnings Results Revenue from Operations: Consolidated \u20b93,550 cr, \u22121.1% YoY vs \u20b93,590 cr, \u22123% QoQ vs \u20b93,719 cr; subdued pricing, lower volumes in international soda ash, UK reconfiguration impact. EBITDA: \u20b9345 cr, \u221220.5% YoY\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-18.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-18.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-18.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-18.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-18.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-18.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":178506,"url":"https:\/\/alphastreet.com\/india\/laxmi-organic-q3-fy26-earnings-results\/","url_meta":{"origin":179341,"position":2},"title":"Laxmi Organic Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 30, 2026","format":false,"excerpt":"Laxmi Organic Industries Limited was established in 1989 and is in the business of specialty chemicals. The Company primarily manufactures Ethyl Acetate, Acetic Acid and Diketene Derivative Products (DDP). DDP is a specialty chemical group, the technology and business of which has been acquired by the company from Clariant Chemicals\u2026","rel":"","context":"In &quot;LATEST&quot;","block_context":{"text":"LATEST","link":"https:\/\/alphastreet.com\/india\/category\/latest\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-126.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-126.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-126.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-126.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-126.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-126.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":178858,"url":"https:\/\/alphastreet.com\/india\/vishnu-chemicals-q3-fy26-earnings-results\/","url_meta":{"origin":179341,"position":3},"title":"Vishnu Chemicals Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"February 2, 2026","format":false,"excerpt":"Incorporated in 1989, Vishnu Chemicals Limited is in the business of manufacturing, marketing and export of Chromium chemicals and Barium compounds across the world. Located in Hyderabad, the company is serving more than 12 industries across 57 countries globally. Q3 FY26 Earnings Results Revenue from Operations: Consolidated \u20b9411 cr, +10.6%\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":179313,"url":"https:\/\/alphastreet.com\/india\/paradeep-phosphates-q3-fy26-earnings-results\/","url_meta":{"origin":179341,"position":4},"title":"Paradeep Phosphates Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"February 3, 2026","format":false,"excerpt":"Incorporated in 1981, Paradeep Phosphates Limited is a manufacturer of non-urea fertilizers and India\u2019s second largest private sector phosphatic company. The company is engaged in manufacturing, trading, distribution, and sales of a variety of complex fertilizers such as DAP, three grades of Nitrogen-Phosphorus-Potassium (namely NPK-10, NPK-12, and NP-20), Zypmite, Phospho-gypsum,\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":179545,"url":"https:\/\/alphastreet.com\/india\/pidilite-industries-q3-fy26-earnings-results\/","url_meta":{"origin":179341,"position":5},"title":"Pidilite Industries Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"February 4, 2026","format":false,"excerpt":"Pidilite Industries Limited is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY products and polymer emulsions in India. Most of the products have been developed through strong in-house R&D. Our brand name Fevicol has become synonymous with adhesives to millions in India and is ranked amongst\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-44.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-44.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-44.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-44.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-44.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-44.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/179341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1863"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=179341"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/179341\/revisions"}],"predecessor-version":[{"id":179343,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/179341\/revisions\/179343"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=179341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=179341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=179341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}