Q3 2026 UPL Ltd Earnings Call Transcript
Key Points
- UPL Ltd (LSE:UPLL) delivered a record quarter with a 12% revenue growth, driven by an 8% increase in volumes.
- The company reported a strong EBITDA growth of 13%, maintaining impressive margins.
- UPL Ltd's Advanta seeds business achieved a robust 22% growth, fueled by volume expansion.
- The company's ESG rating improved, ranking number one among global agricultural solutions companies with a DJSI score of 77.
- UPL Ltd successfully reduced net debt by INR2,553 crore, improving key gearing ratios significantly.
- The crop production value chain remains under pressure from geopolitical uncertainties and pricing pressures.
- The company's insecticides portfolio in Brazil faced intense competition, resulting in price erosion.
- Higher expected credit loss provisioning impacted results due to liquidity stress on retailers and distributors.
- The SUPERFORM platform saw an 11% decline in revenue due to phasing-related shifts and lower input costs.
- Tariff-related uncertainties in North America led to postponed sales and potential impacts on Q4 results.
Ladies and gentlemen, good day, and welcome to UPL Limited Q3 and 9M FY 2026 earnings conference call. (Operator Instructions) Please note that this call is being recorded.
I now hand the conference over to Mr. Anurag Gupta, Investor Relations. Thank you, and over to you, Mr. Gupta.
Thank you, Ranjan. Good afternoon, everyone. I am Anurag Gupta, Head of Investor Relations at UPL. On behalf of the UPL management team, I thank you for joining us today for discussing the financial performance for Q3 and nine months FY '26. The investor presentation, press release and the financial statements are made available on our website, and we take it that you have read the safe harbor statement.
From the management team today, we have with us Group Chief Financial Officer, Bikash Prasad; CEO of Global Crop Protection Business, Mike Frank; CEO of India Crop Protection Platform, Ravi Cherukuri; CEO of Seeds Business Advanta, Bhupen Dubey; CEO of Specialty Chemistries Platform, SUPERFORM, Raj Tiwari; and
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