Company’s full year profit jumps 62% to Rs 2,872 cr.
UPL Ltd., global provider of sustainable agriculture products and solutions, reported robust financial results for the fourth quarter ended March 31, 2021 and for the full financial year 2020-21. Q4 Revenue from operations increased 15%, to Rs. 12,797 cr. Strong margins and cost synergies has augured well for a strong EBITDA margins at 22%.
Commenting on the results, Jai Shroff, CEO – UPL Ltd., said “2020 was certainly a challenging year for each one of us, and the world as a whole. Despite being an incredibly tough year, UPL delivered growth through continuously innovating and transforming, and adapting to the constantly changing situation as best it can. Our financial performance in FY2021 has demonstrated the resilience of our model in COVID times. Despite the situation, we have delivered on our stated commitments of Revenue and EBITDA”
Shroff further added, “UPL is focused on driving sustainable agriculture and achieving transformational growth through innovative technology, as we tap new growth markets and opportunities. We aim to lead the agri- solutions space through differentiated products, bio-solutions, digitization and collaborations across the food value chain.
During the year, the company continued to deliver on its commitment to deleverage the company’s balance sheet and reduced the Gross Debt by 5,039 cr. and Net Debt by Rs 3,140 cr. The Gross Debt and Net Debt as at 31st March 2021 was Rs 23,774 cr. and Rs 18,922 cr., respectively. We are committed to maintaining an investment grade credit rating.
Regional performance highlights for FY2021:
➢ Strong volume growth in Latin America was helped by the catch-up of a delayed season in Brazil. However, the depreciation in the Brazilian Real more than off-set the volume and price increases.
➢ North America was impacted by supply constraints
➢ Europe and India continued to maintain strong volume growth
➢ In Rest of the World, Asia had a strong growth while the AMEANZ region was flat over last year
➢ Accelerated growth of Sustainable solutions across all regions
