UPL Ltd Q4 Results Update

On 9th May 2022, UPL Ltd announced its quarterly results for the last quarter of FY2022.

Key Highlights:

Q4FY22:

- Revenue from operations grew by 24% YoY to Rs.15860 crore led by better product realizations up by 19%, higher volumes up by 3%, and currency impact up by 2%.

- EBITDA was reported at Rs.3591 Crore with a growth of 26% YoY 

- EBITDA margin was at 22.6%, improved realizations, backward integration linkages for key products and effective supply chain management aided in delivering higher EBITDA margins (+46 bps) 

- Net Profit at Rs.1379 Crore with a growth of 29% YoY.

FY2022:

- Revenue from operations grew by 19% YoY to Rs.46240 crore.

- EBITDA was reported at Rs.10165 Crore with a growth of 19% YoY

- EBITDA margin was at 22%

- Net Profit at Rs.3626 Crore with a growth of 26% YoY.

Geographical Revenue:

- For Q4FY22, the revenue from geographical presence in the European market grew by 2% on a YoY basis with revenue of Rs.2629 Crore. For FY22, the revenue was reported at Rs.6893 Crore, which grew by 7%.

- For Q4FY22, the revenue from the geographical presence in the Latin American market was reported at Rs.5761 Crore with a growth of 21% YoY. For FY22, the revenue was reported at Rs.18039 Crore with a growth of 21% YoY.

- For Q4FY22, the revenue from the geographical presence in the North American market was reported at Rs.3512 Crore with a growth of 38% YoY. For FY22, the revenue was reported at Rs.7808 Crore with a growth of 37% YoY

- For Q4FY22, the revenue from the geographical presence in the Indian market was reported at Rs.1384 Crore with a growth of 63% YoY. For FY22, the revenue was reported at Rs.5687 Crore with a growth of 22% YoY

- For Q4FY22, the revenue from the geographical presence for the rest of the world was reported at Rs.2575 Crore with a growth of 25% YoY. For FY22, the revenue was reported at Rs.7812 Crore with a growth of 11% YoY.

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 

- ‘Nurture.farm’, 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% water consumption and generated 20,000 carbon credits (final verification and credit generation are currently in progress). 

Commenting on the performance, Mr. Jai Shroff, CEO – of 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.”