UPL Limited

UPL Ltd has announced leadership adjustments following the resignation of Mr. Mike Frank as CEO of UPL Corporation Limited, effective August 31, 2026. Group Chairman and CEO, Mr. Jai Shroff, will assume leadership of the Global Crop Protection business. This transition will be supported by senior leadership appointments with expanded global mandates: Mr. Sameer Tandon as President, APAC, Africa, and Europe, and Mr. Ashish Dobhal as President, Americas. This new structure aims to ensure strategic continuity, accelerate decision-making, and strengthen execution across key markets, aligning with the company's objective of becoming a simpler, flatter, and more agile organization. Both Mr. Tandon and Mr. Dobhal bring extensive experience in leadership, business transformation, and driving profitable growth within the crop protection and related industries.

UPL Ltd announced that Mr. Mike Frank, Chief Executive Officer of UPL Corporation Limited and a member of the Senior Management Personnel of the UPL Group, will be relocating to the United States due to personal commitments. His association with the UPL Group will conclude on August 31, 2026, after a tenure of four and a half years. Mr. Frank played a key role in advancing UPL's transformation journey, focusing on innovation, customer centricity, operational excellence, and sustainability. He will work with the senior management to ensure a smooth transition of responsibilities. The company expressed appreciation for his contributions and wished him success in his future endeavors.

UPL Ltd announced the conclusion of its Board meeting held on August 3, 2026, at 03:30 PM IST. The meeting was convened to approve the unaudited consolidated and standalone financial results for the quarter ended June 30, 2026. This filing serves as a follow-up to their previous intimation regarding the board meeting, as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

UPL Ltd announced its unaudited consolidated and standalone financial results for the quarter ended June 30, 2026. The company reported a 10% year-on-year revenue growth to ₹10,181 crore and a 15% year-on-year EBITDA growth to ₹1,497 crore. This marks the seventh consecutive quarter of revenue and EBITDA growth. Net income (PATMI) was the strongest in the past three years. The company highlighted broad-based revenue growth across platforms and regions, with overall pricing up 3%. Management expressed confidence in accelerating profitable growth, supported by a strong balance sheet and improved gearing ratios. CARE Edge upgraded UPL's long-term rating to CARE AA+ (Stable). The company provided full-year guidance of 7-11% revenue growth and 10-14% EBITDA growth.

UPL Ltd announced that its Board of Directors, in a meeting held on August 3, 2026, approved the unaudited consolidated and standalone financial results for the quarter ended June 30, 2026. The financial results were reviewed by the Audit Committee prior to the Board's approval. The company has enclosed the financial results along with limited review reports from statutory auditors BSR & Co. LLP. The Board meeting commenced at 1:30 PM and the results were taken on record at 3:00 PM.

UPL's consolidated Q1 FY27 revenue rose 10.5% YoY to ₹10,181 Cr (from ₹9,216 Cr), but the Group still posted a net loss of ₹73 Cr for the period — roughly half the ₹176 Cr loss a year ago. The composition matters: profit attributable to owners of the parent swung positive to ₹10 Cr from an ₹88 Cr loss, while the ₹83 Cr loss now sits with non-controlling interests. Basic EPS was ₹0.12. Sequentially revenue fell 44.5% from ₹18,335 Cr, but that is agrochemical seasonality (the Jan–Mar Rabi quarter is the year's strongest, Apr–Jun the weakest), not a slowdown; QoQ should not be read as the story here. The swing to a narrower loss is led by deleveraging: finance costs dropped to ₹852 Cr from ₹1,007 Cr YoY (−15%), the clearest evidence the debt-reduction campaign we flagged pre-result is feeding through. Crop protection revenue grew 5.7% to ₹7,659 Cr and Seeds & Post-harvest 24.6% to ₹1,750 Cr; total segment EBIT was ₹1,110 Cr vs ₹985 Cr. One caveat on the loss-narrowing: other income carries a one-off ₹55 Cr Bombay High Court insurance arbitral award — strip it (the year-ago period had no equivalent) and the underlying loss is closer to ₹128 Cr, so the ~58% reported loss-narrowing overstates; the adjusted narrowing is nearer ~27%. Net margin improved (−0.7% vs −1.9% YoY) while operating margin held around 16%. Against the bar we set in our preview — ₹11,700–12,100 Cr revenue and +14–18% EBITDA — the print missed: revenue landed 13–16% below and EBITDA was broadly flat, so management's own 14–18% EBITDA guidance was not met this quarter, though the 10–14% revenue-growth guide was met at its low end. Street had built the FY27 thesis on ~72% consolidated profit growth; a still-loss-making Q1 is a soft (if seasonally weakest) start. On the corporate front, the Composite Scheme of Arrangement (UPL SAS amalgamation, appointed date April 1, 2026) received BSE/NSE observation letters on July 29 but has no P&L effect yet, pending NCLT and shareholder approvals; the $1 Sustainable Tech acquisition and the Bioplanta stake divestment are immaterial. Standalone, revenue fell 15.8% YoY to ₹1,397 Cr with PAT of ₹89 Cr (vs ₹122 Cr) — the standalone entity is a small slice of the Group, so the consolidated picture governs.

UPL Ltd has announced the completion of its Swap Transaction and ESOP Swap Transaction as of July 31, 2026. These are key conditions precedent for the effectiveness of a Composite Scheme of Arrangement involving UPL Ltd and its subsidiaries. The company had previously received CCI approval on June 3, 2026. The completion of these transactions leads to significant changes in the shareholding of its subsidiaries, UPL Cayman 1 and UPL Cayman 2, consolidating the India and Global Crop Protection businesses. The effectiveness of the overall Scheme is still subject to other conditions precedent.

UPL Limited has received observation letters from BSE Limited and the National Stock Exchange of India Limited regarding its Composite Scheme of Arrangement. This follows an earlier board approval and subsequent application to the exchanges. The letters indicate "no adverse observations" from BSE and "No Objection" from NSE, dated July 29, 2026. The scheme involves UPL Sustainable Agri Solutions Limited, UPL Limited, UPL Global Sustainable Agri Solutions Limited, and UPL Crop Protection Holdings Limited. While these are significant steps, the scheme is still subject to other applicable regulatory approvals. The company has also been advised by SEBI on various disclosure requirements related to the scheme, including ongoing proceedings, financial information, and valuation reports, to be shared with shareholders.

UPL Ltd announced that its subsidiary, UPL do Brasil Indústria e Comércio de Insumos Agropecuários S.A. ("UPL Brasil"), has secured all necessary approvals to divest its entire stake in Bioplanta Nutrição Vegetal Indústria e Comércio S.A. The divestment is part of UPL Brasil's strategy to focus on profitable growth and sharpen its portfolio. Bioplanta, an associate of UPL, is engaged in the manufacture and sale of fertilizers and agrochemicals. For FY 2025, Bioplanta reported a revenue of USD 7.1 Mn, a net worth of (USD 8.2) Mn, and a loss of (USD 3.1) Mn. The transaction involves a nominal consideration of USD 20, as Bioplanta has a negative net worth. The buyers are Marino José Franz and Miguel Vaz Ribeiro, who are not related to UPL's promoter group. The sale is expected to be completed by July 31, 2026, and is not considered a related party transaction.

UPL Ltd announced that its step-down subsidiary, UPL NA Inc., USA, has acquired 100% shares of Sustainable Tech Inc., USA, for a cash consideration of US $1. The acquisition, completed on July 27, 2026, positions Sustainable Tech Inc. to focus on the Aquatics business, specializing in water treatment and environmental solutions. This move is not considered a related party transaction, and no regulatory approvals were required. Sustainable Tech Inc. was incorporated on July 14, 2026.