UPL Limited, a leading global provider of sustainable agriculture solutions, has announced its unaudited financial results for the second quarter and first half of the fiscal year 2027, ending September 30, 2026. The company has demonstrated resilience amidst global economic headwinds, achieving its eighth consecutive quarter of margin and EBITDA growth.
For the second quarter, UPL reported a slight decline in revenue to ₹11,860 crore, down 1% year-on-year. However, the company managed to increase its EBITDA by 5% to ₹2,312 crore, with a margin expansion of 120 basis points to 19.5%. This growth was primarily driven by operational discipline and a reduction in selling, general, and administrative expenses, which helped offset higher input costs. The company also reported a 1% increase in contribution, with margins improving by 100 basis points to 42.9%.
In the first half of FY27, UPL’s revenue rose by 4% to ₹22,041 crore, supported by strong performances from its Advanta and SUPERFORM segments, which grew by 18% and 21%, respectively. The company recorded a 7% increase in contribution and a 9% rise in EBITDA, with margins expanding by 140 and 80 basis points, respectively. Operational profit after tax and minority interest (PATMI) for H1 increased by 33% to ₹441 crore, driven by higher EBITDA and other income.
Despite the challenging global environment, UPL’s diversified business model has enabled it to maintain growth. The company saw significant regional growth in North America and the Rest of the World, with both regions experiencing a 19% increase in revenue. However, UPL faced volume pressures in Latin America and Europe due to unfavourable weather conditions and phased demand.
UPL’s management remains optimistic about the future, with Chairman and Group CEO Jai Shroff highlighting the company’s focus on building a stronger and future-ready organisation. Group CFO Bikash Prasad emphasised the importance of maintaining capital discipline and converting earnings into cash to strengthen the balance sheet.
Analysts note that UPL’s strategic focus on specialty chemicals and seeds, along with its disciplined approach to cost management, has positioned the company well to navigate the current economic landscape. The company’s proactive refinancing efforts and improved credit outlooks from S&P and CRISIL further underscore its financial resilience.
