UPL Limited - 512070 - Announcement under Regulation 30 (LODR)-Acquisition
Incorporation of a subsidiary in Mexico04-11-2023
04-11-2023
Hold UPL; target of Rs 562: ICICI Securities
ICICI Securities recommended hold rating on UPL with a target price of Rs 562 in its research report dated October 31, 2023.03-11-2023
UPL Limited - 512070 - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
Intimation of Loss of Share Certificate(s)02-11-2023
Morgan downgrades UPL to equalweight, cuts target price to Rs 590
The EBITDA guidance for FY24 was revised to 0 to -5% from the earlier 3-7% projection.01-11-2023
UPL Limited - 512070 - Announcement under Regulation 30 (LODR)-Newspaper Publication
we enclosed herewith Extract of Unaudited consolidated Finaincial Result for the quarter and half year 30th Septemebr, 2023. published in the newpaper today.31-10-2023
UPL Limited - 512070 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Pursuant to Regulation 30 read with Regulation 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Audio Recording of the Earnings Call - Q2 FY2023-24 held in connection with the unaudited standalone and consolidated financial results of the Company for the quarter and half year ended 30th September, 2023, held on 30th October, 2023, is available on the website of the Company .30-10-2023
UPL Ltd. Results Earnings Call for Q2FY24
Conference Call with UPL Ltd. Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.30-10-2023
UPL posts Q2 loss of 189 crore on drop in revenues, elevated pricing pressure
Income affected by global channel destocking, liquidation of high-cost inventory30-10-2023
Q2FY24 Quarterly Result Announced for UPL Ltd.
Agrochemicals company UPL announced Q2FY24 results: Financial Performance: - Revenue for Q2FY24 was Rs 10,170 crore, a decrease of 19% compared to Q2FY23. - Contribution Profit for Q2FY24 was Rs 4,060 crore, a decrease of 24% compared to Q2FY23. - EBITDA for Q2FY24 was Rs 1,573 crore, a decrease of 43% compared to Q2FY23. - The company posted a net loss of Rs 189 crore in Q2FY24, compared to a net profit of Rs 813 crore in Q2FY23. Performance of Differentiated and Sustainable Portfolio: - The share of the Differentiated and Sustainable portfolio in Crop Protection revenue increased significantly to 38% in Q2FY24, compared to 30% in Q2FY23. - Volumes of the Differentiated and Sustainable portfolio increased by 11% YoY. SG&A; Expenses: - SG&A; expenses reduced by 3% YoY to Rs 2,486 crore. Seeds Business: - Revenue of the Seeds business grew by 10% YoY in Q2FY24 to Rs 1,070 crore. - EBITDA of the Seeds business marginally decreased. Commenting on the performance, Mike Frank, CEO, UPL Corporation, said, “The global agrochemical industry continues to go through a difficult phase with prices coming off significantly vis-à-vis the high base of the previous year amid the elevated channel inventory levels and intense price competition. Given this backdrop, the distributors prioritized destocking and focused on purchases at lower prices to bring down their average inventory cost. In particular, destocking had a significant impact on the US and Brazil during the first half. Our revenue and profitability for Q2 were significantly impacted by these factors in line with the rest of the industry. However, contribution margins improved by ~300 bps YoY in H1FY24 adjusted for the short-term impact of high-cost inventory liquidation, higher-than-usual sales returns, and rebates to channel partners. We also saw a pick-up in volumes (+1% YoY) in the crop protection business (ex-India) led by the resilient performance of our differentiated and sustainable portfolio; the revenue share of this portfolio increased to 38% of crop protection revenue vs 30% last year. Our cost reduction drive of USD 100 million over the next two years is under implementation and we are on track to realize the benefit of USD 50 million in FY24, the bulk of which will be realized in H2FY24. Going forward, we are optimistic about progressively improved performance in H2FY24 as key geographies of North America, LATAM, and Europe enter the major cropping season. The elevated inventory levels are expected to gradually subside with the farmgate demand continuing to be robust. In Europe, Asia, and LATAM (ex-Brazil), channel inventory levels have largely normalized; while in North America and Brazil, the scenario continues to gradually improve. On the pricing front, most post-patent molecule prices seem to have bottomed in Q2 and are now stabilizing. Overall, we are executing well in this challenging market and making changes to our operating model that will further improve our business as the cycle normalizes." Result PDF30-10-2023
UPL Limited - 512070 - Announcement under Regulation 30 (LODR)-Investor Presentation
Please find attached Investor Presentation for the quarter and half year ended 30th September 202330-10-2023