UPL Limited

UPL Ltd announced that CRISIL Ratings Limited (“CRISIL”) has revised the outlook on UPL Limited’s long-term bank facilities from ‘Negative’ to ‘Stable’ and reaffirmed the rating at ‘CRISIL AA+’; CRISIL has also reaffirmed its ‘CRISIL A1+’ rating on the Company’s short-term bank facilities and commercial paper programme, with no enhancements, assignments, or withdrawals reported by the rating agency. The detailed rationale for these ratings can be found at https://www.crisilratings.com/mnt/winshare/Ratings/RatingList/RatingDocs/UPLLimited_September%2002_%202026_RR_390892.html, and no other rating agencies were mentioned in the communication.

UPL Limited announced that its step-down subsidiary, Advanta Holdings B.V., will acquire equity interest in Hytech Egypt USA LLC, which controls Misr Hytech Seed International S.A.E., an Egyptian entity, for a cash consideration of approximately US$110 million. Upon completion of the transaction on or before January 31, 2027, Advanta Holdings B.V. will hold 99.98% of the shareholding in Misr Hytech Seed International S.A.E., which operates in the agricultural seeds industry and reported a turnover of approximately US$34.9 million in fiscal year 2023, US$37.6 million in fiscal year 2024, and US$25.7 million in fiscal year 2025.

UPL Ltd announced that S&P Global Ratings has affirmed the ‘BB’ rating and revised the outlook to Positive for UPL Corporation Limited's Issuer Credit, Senior Unsecured Notes, and related instruments, citing resilient operations; this action also includes affirmations for domestic and global bonds, a US$500 million term loan maturing in December 2026, US$1.5 billion in undrawn committed short-term bank lines, US$1.1 billion in factoring facilities, INR49 billion in cash and cash equivalents, INR47 billion in Funds from Operations, INR102 billion in short-term debt, INR10 billion in working capital, INR4 billion in Capex, and INR5 billion in dividend payments, all as of June 30, 2026; S&P also noted a potential downgrade if the FFO-to-debt ratio weakens below 20%, alongside a US$500 million sustainability-linked term loan and US$500 million in debt, both requiring refinancing, while an unknown agency affirmed senior unsecured notes totaling US$449 million and US$276 million, each with a recovery rating of ‘4’ indicating average (30%-50%) recovery prospects.

UPL Ltd share price ticked higher by 0.41% to Rs 604.4. The Company's net profit tumbled by 105.64% to Rs 73.0 crore, while revenue from operations nosedived 44.47% to Rs 10181.0 crore in Q2FY26 over Q1FY26. The market capitalization of Pesticides & Agrochemicals industry group stocks on BSE stood at Rs 1.93 lakh crore, tanking 28.69%. It has slipped by 3.53% over last one week and softened by 7.52% in last one month while the market capitalization of UPL Ltd has eased by 0.61% and 5.92% in the same period respectively. Profit before tax (PBT) of UPL Ltd stood at Rs 109.0 crore in Q2 FY26, tumbling by 42.63% year-on-year, and crashing by 105.76% quarter-on-quarter. EBITDA came in at Rs 1233 crore, declining 1.60% YoY and nosediving by 63.52% sequentially. Total expenses plunged by 39.06% to Rs 9563.0 crore in Q2FY26 over Q2FY25. During the quarter, cost of materials consumed stood at Rs 5621.0 crore, contracting by 13.11% YoY, while employee benefits expense was at Rs 1527.0 crore, slipping by 6.89% YoY. For the TTM ended FY26, revenue from operations rose 11.15% to Rs 51839.0 crore, while net profit jumped 170.73% to Rs 2220.0 crore, compared to previous TTM. EBITDA witnessed a strong improvement of 760700% to Rs 8609.0 crore, and PBT surged 280.82% to Rs 3157.0 crore compared to previous TTM. The company's consolidated net cash flow from operating activities stood at Rs 0.0 crore in FY26, as against Rs 0.0 crore in FY25. UPL Ltd nosedived by 14.01% in last one year, underperforming the benchmark BSE Sensex which has eased by 3.81% during the same period.

UPL Limited announced that it has received approval from the Competition Commission of India for a scheme of arrangement amongst the company, UPL Sustainable Agri Solutions Limited, UPL Global Sustainable Agri Solutions Limited, UPL Crop Protection Holdings Limited, and their respective shareholders, and that the Swap Transaction contemplated under the scheme has been completed as of July 31, 2026. The completion of the transactions resulted in UPL Cayman 1, previously a wholly owned subsidiary of UPL Corporation Limited, Mauritius, now being 76.42% owned by UPL Mauritius, 21.82% by the Upswing Trust, 0.01% by other individuals, and 1.76% by holders of unvested employee stock options, while UPL Cayman 2 has become a wholly owned subsidiary of UPL Cayman 1.

UPL Limited announced that its subsidiary, UPL do Brasil Indústria e Comércio de Insumos Agropecuários S.A., has secured approvals to divest its entire stake in Bioplanta Nutrição Vegetal Indústria e Comércio S.A., a joint venture, to MARINO JOSÉ FRANZ and MIGUEL VAZ RIBEIRO, Brazilian citizens, for a nominal consideration of USD 20. The transaction, which is expected to be completed on or before July 31, 2026, is part of UPL Brasil’s focus on profitable growth and portfolio optimization, and does not involve any related parties.

UPL announced that its step-down subsidiary, UPL NA Inc., USA has completed the acquisition of Sustainable Tech Inc, USA on 27 July 2026. Sustainable Tech Inc would be a step-down subsidiary under UPL NA Inc which is a part of UPL's international Crop Protection business under Cayman, in which UPL effectively holds 77.78% shareholding. Sustainable Tech Inc will focus on the Aquatics business which operates in a distinct sector of water treatment and environmental solutions (control of aquatic plants and algae in water systems).

UPL will hold a meeting of the Board of Directors of the Company on 3 August 2026.

UPL announced that the 42th Annual General Meeting(AGM) of the company will be held on 6 August 2026.

UPL has fixed 17 July 2026 as record date for determining entitlement of Members to final dividend for the financial year ended 31 March 2026.