| Metric | Value (₹ Cr) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 12.3K | 2.1% | 12.5% |
| Total Income | 12.4K | 0.8% | 11.6% |
| Expenditure | 11.6K | 0.2% | 11.4% |
| PBT | 752.00 | 10.3% | 19.0% |
| Net Profit | 490.00 | 19.9% | 42.6% |
| OPM | 18.43% | 0.60pp | 27.20pp |
| NPM | 3.96% | 1.03pp | 6.25pp |
| EPS | 4.69 | 30.5% | 53.0% |
UPL Ltd Delivers Strong Quarter with 13% EBITDA Growth and 45% Operational PATMI Growth
02 Feb 2026 · 2 Feb, 3:04 pm
Summary
UPL Ltd has reported a strong quarter with 13% EBITDA growth and 45% operational PATMI growth. The company's revenue contribution has increased by 417% YoY, with a margin of 42.6%. Net debt has reduced by $427 Mn vs. LY, and net debt/equity is now at 0.6X vs. 0.8X Dec'24. The company's platforms have performed well, with Advanta and the crop protection segment showing significant growth.
Key Highlights
- 1
Revenue Contribution: 12769 ch 25,227 CY 417% YoY 22,434 Cr 413% YoY 7 412% YoY
- 2
Margin: 42.6% | A160bps
- 3
Net Debt: 23,317 cr ($2,594Mn) —2.5X¥ vs. 3.8x Dec'24
- 4
Revenue growth driven by higher volume and supported by favorable Fx
- 5
Platforms: strong performance in Advanta (+22%) and crop protection segment (+8%)
- 6
Regions: led by Europe (+21%), Rest of the World (+32%)
- 7
Profit Before Tax (PBT) up by 90% vs. LY
- 8
Operational PATMI up by 45% vs. LY
- 9
Net working capital: 116 days (vs. 107 days LY) at £15,625 cr (Dec’25)
Management Comments
Jai Shroff
Chairman & Group CEO, UPL Limited
We are proud to deliver yet another record quarter, building on the solid foundation of last year’s strong base. This achievement reflects the strength of UPL'’s diversified business model, driven by our robust intellectual property portfolio, cutting-edge digital and analytics capabilities, and unwavering commitment to innovation and sustainability. Our platforms are on pathways of unlocking significant value. As we continue to transform and scale our business, we remain focused on delivering long-term sustainable growth and creating value for all our stakeholders.
Bikash Prasad
Group CFO, UPL Limited
UPL has delivered a strong performance, surpassing a strong third quarter last year. We have maintained robust momentum throughout the past three quarters, that reflects our operational excellence, and disciplined financial and risk management. We continue to achieve broad-based EBITDA growth for the year, strengthen our balance sheet through reduced net debt, and rigorous capital allocation. With a solid performance so far and a seasonally strong Q4, we remain optimistic and reaffirm our guidance.
Informational and educational content only. Not investment advice.