UPL Q1FY26 Earnings Results: EBITDA Rises 14%, Leverage Drops Significantly

UPL Limited has announced solid financial results for Q1FY26, showing strong execution, cost control, and better product mix. Revenue rose 2% YoY to ₹9,216 crore, while EBITDA increased by 14% YoY to ₹1,303 crore. EBITDA margin also improved by 150 basis points to 14.1%.

UPL Q1FY26 Earnings: Key Business Highlights

• Platform Growth:
  • UPL Sustainable Agri Solutions (UPL SAS) grew 13%
  • Advanta rose 20%
  • SUPERFORM grew 9%
  • UPL Corp declined 3% due to lower sales in Brazil
• Regional Performance:
  • Strong growth in India (+21%)
  • North America and Europe grew 8% each
  • Latin America and the Rest of the World saw a 10% decline
• Improved Margins:
  Contribution margin increased by 390 basis points to 43.4% due to better pricing, product mix, and lower input costs.

Financial Discipline in Focus

• PAT (Post-Tax Profit)

Loss of ₹88 crore in Q1FY26, a significant improvement from ₹384 crore loss last year

• Working Capital

Reduced to 86 days from 121 days YoY

• Net Debt

Reduced by ₹6,129 crore to ₹21,371 crore

Strategic Updates

• UPL redeemed perpetual bonds worth ₹3,409 crore in May 2025
• Second and final call for $200 million rights issue expected by September-end
• The company is evaluating strategic investments and partnerships to unlock value and reduce debt further

Jai Shroff, Chairman and Group CEO, stated, “We’ve started FY26 on a strong note. Our platforms have improved margins and cash flow, showing resilience. We’re confident in delivering sustainable value and will continue exploring strategic opportunities to reduce debt and enhance shareholder value.”

About UPL

UPL Ltd is one of the world’s largest agricultural solutions providers, serving farmers in over 140 countries. It operates across four focused platforms: UPL Corp, UPL SAS, Advanta, and SUPERFORM, with a focus on sustainability and innovation in the agri sector.

Read More: India and UK Signed FTA: What's Getting Cheaper for Both Nations?

UPL Share Price Movement

As of August 1, 2025, at 3:29 PM IST, UPL share price (NSE: UPL) was trading at ₹658.00, down by ₹45.80 or 6.51% for the day. The stock opened at ₹703.95 and touched a high of ₹713.90 and a low of ₹658.00 during the session. The 52-week high and low for the stock are ₹735.85 and ₹483.72, respectively. The company's Q1 earnings call is scheduled for 4:00 PM IST today.

Conclusion

UPL has delivered a resilient Q1FY26, marked by strong margin growth, lower debt, and solid performance across key platforms and regions. Its focus on sustainability, cost discipline, and strategic investments positions it well for continued long-term value creation.

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