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UPL Ltd. announces financial results for the fourth quarter of FY22 (Jan-Mar 2022)




Record Net Profit of Rs 3,626 crore in FY22, up 26% YOY

Robust Q4 with 24% higher revenues and 29% higher Net Profit

MUMBAI, INDIA, May 9, 2022 – UPL Ltd. (NSE: UPL & BSE: 512070, LSE: UPLL), today reported financial results for the fourth quarter of FY22 (Jan-Mar 2022).

Financial Performance Update

INR crore

(Unless otherwise stated)

Q4 FY22 Q4 FY21 YoY FY22 FY21 YoY
Revenue 15,860 12,797 24% 46,240 38,694 19%
EBITDA 3,591 2,839 26% 10,165 8,559 19%
EBITDA Margin (%) 22.6% 22.2% 46 bps 22.0% 22.1% (14 bps)
Net Profit 1,379 1,065 29% 3,626 2,872 26%
  • Q4 FY22 Revenue witnessed robust growth of 24% YoY to reach INR 15,860 crore, led by better product realizations (+19%), higher volumes (+3%) and currency impact (+2%)
  • Q4 FY22 EBITDA grew by 26% YoY to INR 3,591 crore as against INR 2,839 crore in Q4 FY21. Improved realizations, backward integration linkages for key products and effective supply chain management aided in delivering higher EBITDA margins (+46 bps)

Commenting on the performance, Mr. Jai Shroff, CEO – UPL Ltd., said “We are delighted to share a strong set of results for Q4 2022, and another record year for UPL. Thanks to the dedication, agility and tenacity of our team, we have been able to significantly outperform the guidance given at the start of the year, with nearly every region seeing double-digit growth. FY22 was a year of challenging macro-environment, input cost inflationary pressures and supply chain disruptions and we chose to prudently invest towards ensuring reliable growth going forward.

Guided by our OpenAg purpose to create sustainable growth for all, we achieved important milestones in our mission to build a network that Reimagines Sustainability for the entire agricultural industry. In a significant achievement for this mission, our digital platform became the first company to successfully forward sell agricultural-related carbon credits in India.

As we look ahead into the new year, we feel very well-positioned to further power our growth trajectory as the demand outlook continues to be constructive supported by strong agri commodity prices. The positive traction in our differentiated & sustainable solutions business is expected to continue, led by new launches and a strong go-to market strategy. Further, we will continue to improve our leverage ratios and ROCE profile.”

Regional Performance Update

Region (INR crore) Q4 FY22 Q4 FY21 YoY % Chg. FY22 FY21 YoY % Chg.
Latin America 5,761 4,767 21% 18,039 14,863 21%
Europe 2,629 2,577 2% 6,893 6,422 7%
North America 3,512 2,539 38% 7,808 5,691 37%
India 1,384 851 63% 5,687 4,677 22%
Rest of the World 2,575 2,063 25% 7,812 7,042 11%
Total 15,861 12,797 24% 46,240 38,694 19%


Other Developments for the Quarter

  • ‘UPL’ was included in the ‘S&P Global Sustainability Yearbook 2022’ for the second year running in recognition of its strong performance in environmental, social and governance risk management and its achievements in Reimagining Sustainability within the global food industry
  • ‘’, UPL’s digital platform for sustainable agriculture, became the first company to successfully generate and forward sell agricultural-related carbon credits in India with its Alternate Wetting and Drying & Dry Seeded Rice (AWD-DSR) project covered 22,000 acres of rice paddy fields and involved over 2,500 smallholder farmers. The project helped save 15-30%  in water consumption and generated 20,000 carbon credits (final verification and credit generation is currently in progress).


Capital Markets Day Presentation and Webcast Details:

The results will be followed by a Capital Markets Day presentation at 4.00 PM IST on 9th May 2022.

The event will be webcast at Live Click Here and the presentation will be available at Click Here.


Webcast Registration link:

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