SYNOPSIS:
UPL reported Q2 FY26 revenue of Rs. 12,019 crore, up 30 percent QoQ, with net profit of Rs. 612 crore. EBITDA rose 40 percent YoY to Rs. 2,205 crore, prompting upgraded FY26 EBITDA guidance to 12-16 percent.
During Thursday’s trading session, shares of a global provider of sustainable agricultural products and solutions that cover the entire agrifood value chain surged over 2 percent to hit a new 52-week high at Rs. 747 on BSE, after reporting Q2 FY26 financial results and upgrading FY26 guidance.
With a market cap of Rs. 61,469 crores, shares of UPL Limited closed at Rs. 728.9 on BSE, compared to its previous closing price of Rs. 731.3. The stock has delivered positive returns of around 34 percent in one year, and has gained by nearly 7 percent in the last one month.
What’s the News
UPL Limited announced the financial results for the second quarter of FY26 on Thursday during market hours, as per the latest regulatory filings with the stock exchanges.
For Q2 FY26, the company posted a consolidated revenue from operations of Rs. 12,019 crores, reflecting a significant sequential rise of over 30 percent QoQ compared to Rs. 9,216 crores in Q1 FY26, as well as a year-on-year marginal growth of around 8.4 percent from Rs. 11,090 crores recorded in Q2 FY25.
The revenue growth was driven by higher volumes and supported by favourable forex movements. Within platforms, UPL Corp reported a 12 percent increase, while Advanta grew by 26 percent, both driven by strong volume performance. The SUPERFORM segment remained steady compared to the previous year, whereas UPL SAS recorded a 10 percent decline due to unfavourable weather conditions. Regionally, growth was led by North America, which surged 63 percent, followed by strong contributions from Latin America, up 13 percent during the quarter.
During the quarter, UPL delivered a net profit of Rs. 612 crores, representing a significant turnaround from a loss of Rs. 176 crores in Q1 FY26 and Rs. 585 crores in Q2 FY25.
The company reported a consolidated EBITDA of Rs. 2,205 crore in Q2 FY26, a 40 percent YoY increase from Rs. 1,576 crore in Q2 FY25, while the EBITDA margin expanded by 410 basis points to 18 percent from 14 percent, over the same period.
The contribution margin improved by 420 basis points YoY, supported by a better product mix, higher capacity utilisation, and lower input costs. This led to a 410 basis point increase in the EBITDA margin, reflecting strong EBITDA growth and margin accretion across all platforms.
With a strong performance in the first half of the year and a favourable outlook for the second half, the company has upgraded its FY26 EBITDA growth guidance to 12-16 percent, compared to the earlier projection of 10-14 percent, while maintaining its revenue growth guidance at 4-8 percent.
Written by Shivani Singh
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