UPL Q4 Results: Profit Rises 34% On Higher Volumes

Workers sprays weed killer on plants at a soya bean farm in Dewas, Madhya Pradesh, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

UPL Q4 Results: Profit Rises 34% On Higher Volumes

UPL Ltd.’s profit rose aided by growth in volumes and price hikes.

The agrochemical maker’s profit rose 34% sequentially to Rs 1,063 crore in the quarter ended March, according to its exchange filing. That compares with the Rs 1,077.9 crore consensus estimate of analysts tracked by Bloomberg.

UPL’s revenue grew 40% quarter-on-quarter to Rs 12,796 crore, against the estimated Rs 12,016.1 crore. That was aided by a strong performance in the company’s key markets of Latin America, India and Europe.

Highlights (QoQ)

  • Operating profit rose 20% to Rs 2,651 crore, compared with the Rs 2,556.8-crore estimate.
  • Ebitda margin contracted to 20.7% from 24.1%.

Revenue Across Geographies (QoQ)

  • Latin America: up 23.85% to Rs 4,767 crore.
  • India: down 6.07% to Rs 851 crore.
  • North America: rose 87.79% to Rs 2,539 crore.
  • Rest of World: increased 8.63% to Rs 2,063 crore.
  • Europe: up 130% to Rs 2,577 crore.

The company pared its gross debt by Rs 5,039 crore and net debt by Rs 3,140 crore in the year ended March. Gross and net debt as of March 31 stood at Rs 23,774 crore and Rs 18,922 crore, respectively.

UPL plans to give a dividend of Rs 10 per share to its shareholders, subject to approval at its ensuing annual general meeting.

Shares of UPL ended 1.07% higher before the results were announced, compared with a 1.04% drop in the benchmark Nifty 50 Index.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.