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HomePosts Tagged "chairman and Group CEO"
Agribusiness, Agro chems – Chemicals, Agro chems – Fertilizers, Agro chems – Pesticides, Company News, Finance, India

Company records overall robust performance in seeds business, driven by grain sorghum, sunflower and corn.

UPL Ltd. reported financial results for the third quarter and nine months ended December 31, 2024. Company’s revenue for the third quarter was up by 10 per cent, driven by 9 per cent increase in volumes, 5 per cent increase in price and 4 per cent decline due to Fx, mainly in Brazil.

Financial Performance Update

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Company’s EBITDA was at Rs 2,163 crores in Q3 FY25 compared to Rs 416 crores in Q3FY24 registering the growth of 420 per cent YoY. Company recorded revenue of Rs 10,907 crore in Q3 FY25 Vs Rs 9,887 in Q3FY24 witnessing 10 per cent growth. Contribution margin increase led by product mix, rebate normalisation and COGS improvement. Strong performance with accretive margins in differentiated and sustainable segment. Overall robust performance in seeds business, driven by grain sorghum, sunflower and corn. Net Debt lower by $745M vs. last year; $363M increase in net debt vs. March ’24, significantly lower than $1.7Bn increase over the same period last year.  

Commenting on the Q3FY25 performance, Jai Shroff, Chairman and Group CEO, said “We are seeing strong bounce back versus last year, with normalisation of business, and recovery of volumes and prices. This has helped in regaining our contribution margins back to our previous higher levels. Through strong focus, the team has done a commendable job in bringing down the working capital, resulting in a significant reduction of our net debt versus September, 2024. With this strong performance, we are confident of delivering our EBITDA and free cash flow guidance for the full year.”  

Mike Frank, CEO, UPL Corporation Ltd., said: “The global crop protection market continues to rebound as farmers and dealer buying patterns are now reset. Our volume growth of 14 per cent in this past quarter demonstrates continued strong demand across regions, and our ability to increase market share. Through our focus on customers, driven by investments in marketing excellence, new launches and differentiated solutions, we have improved our margins, as compared to the last few quarters. We expect benefits from this to continue in Q4 as well as in the next financial year”

Company records overall robust performance in seeds

Agribusiness, Animal Health, Animal Husbandry, Collaborations, Company News, Dairy, India, Live Stock, Sustainability

Under the multi-phase, multi-year agreement, the company and CH4 Global will develop a comprehensive roadmap targeting key livestock markets in India, Brazil, Argentina, Uruguay and Paraguay.

Agricultural solutions provider UPL Limited announced that company has signed a strategic partnership agreement with CH4 Global to distribute a methane-reducing feed supplement for cattle across major livestock markets. The multi-year collaboration will target India, Brazil, Argentina, Uruguay, and Paraguay, which collectively account for over 40 per cent of the global cattle population.

Methane Tamer, CH4 Globals flagship product innovation, is a stable, formulated cattle feed supplement based on whole Asparagopsis seaweed that has been shown in studies to reduce enteric methane emissions from cattle by up to 90 per cent when used as recommended.

Under the multi-phase, multi-year agreement, the company and CH4 Global will develop a comprehensive roadmap targeting key livestock markets in India, Brazil, Argentina, Uruguay and Paraguay. The collaboration will establish specific business models to distribute CH4 Globals Methane Tamer cattle feed additive in each of these markets.

Jai Shroff, chairman and Group CEO, UPL, said, “Our OpenAg purpose places collaboration at the heart of progress, and through this partnership we aim to mark an important step in showing how agriculture can deliver on overall efforts to reduce greenhouse gasses. Methane is almost thirty times as harmful for global warming than CO2 and recent reports show the highest levels in 800,000 years, so its reduction must be our top priority. This initiative will present a new model for sustainable livestock which can be scaled globally, helping the industry reach net-zero for greenhouse gasses by adopting methane mitigation technologies, and demonstrating agricultures positive impact on the environment.”

Steve Meller, President and CEO of CH4 Global, said, “We are thrilled to join forces with a market leader like UPL to accelerate the global adoption of Methane Tamer. UPLs vast footprint across the key markets and its trusted relationships with farmers make them an ideal partner as we scale up to meet the massive need for enteric methane reduction solutions.”

Under the multi-phase, multi-year agreement, the company