UPL posts higher profit on increased demand, volumes
By: ICN Bureau
Last updated : May 09, 2022 9:24 pm
Q4 FY22 EBITDA grew by 26% YoY to INR 3,591 crore as against INR 2,839 crore in Q4 FY21
UPL Ltd. today reported financial results for the fourth quarter of FY22 (Jan-Mar 2022) whereby the company witnessed robust revenue 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).
The company's net profit grew by 47.33% and stood at INR 1379 crores for the period ended March 31, 2022 as against INR 936 crores last year.
Commenting on the performance, 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 nuture.farm 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.”