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HomePosts Tagged "UPL Corporation Ltd"
Agribusiness, Agro chems – Chemicals, Collaborations, Company News, World

UPL Corp and CAC Nantong will jointly develop, register, and commercialize cyproflanilide products within their respective markets.

UPL Corporation Ltd. (UPL Corp), a global provider of holistic and sustainable agricultural solutions, and CAC Nantong Chemical Co. Ltd. (CAC Nantong), a leading agrochemical company in China, jointly announce a new strategic partnership to develop, register, and commercialise cyproflanilide products within their respective markets.

Cyproflanilide is a new, proprietary insecticide specifically designed to combat pest resistance. It is effective across a wide range of chewing pests in multiple crops, including but not limited to rice, corn, cotton, soybeans, fruits, and vegetables. Cyproflanilide offers high efficacy at low use rates against a broad pest spectrum, including lepidoptera pests resistant to the most established active ingredients, through both contact and ingestion. The compound is exceptionally versatile, making it suitable for applications in foliar and soil as well as the public health sector.

Christina Coen, CMO of UPL Corp, said, “We are excited to enter this long-term agreement with CAC Nantong to introduce this revolutionary insecticide to more growers in new markets. This initiative aligns with our value-added portfolio strategy by introducing a proprietary active ingredient with a differentiated mode of action and underscores our commitment to advancing agricultural innovation and setting new standards in pest management. By adding cyproflanilide to our global portfolio, we strengthen our ability to offer farmers differentiated solutions to effectively and safely manage pests, boost crop yields, and enhance food security outcomes worldwide.”

Norman Wu, Global Marketing Head Crop Protection Business Unit of CAC Nantong, said:” We are delighted to have reached such an important collaboration milestone with UPL Corp. This collaboration further solidifies CAC Nantong’s dedication to continuous development in science and technology and demonstrates our long-term commitment in product innovation. Through this collaboration, CAC Nantong will be able to accelerate application of cyproflanilide globally. This advanced technology will allow growers to better protect their crops and achieve high yield, contributing to global food security.”

Cyproflanilide is expected to be classified as a meta-diamide in IRAC’s Group 30 list of compounds. The registration process for cyproflanilide is underway with approval expected in China in the near future. UPL Corp and CAC Nantong expect the first wave of registrations in various countries over the next 3 years.

UPL Corp and CAC Nantong will jointly

Agro chems – Chemicals, Agro chems – Fertilizers, Company News, Finance, India, Seeds

Seeds business faced headwinds on account of weather challenges that impacted production, created inventory shortages and supply constraints, leading to a revenue drop of 7 per cent.

 Agrochemical major, UPL Ltd., reported financial results for the first quarter ended June 30, 2024. Revenue growth for the first quarter was flat at 1 per cent, driven by 16 per cent increase in volumes, 14 per cent decline in price and a negative 1per cent Fx impact.

Seeds business faced headwinds on account of weather challenges that impacted production, created inventory shortages and supply constraints, leading to a revenue drop of 7 per cent and EBITDA drop of 30 per cent YoY.

Net Debt increased by $639 million in Q1FY25 vs year end March 24. The corresponding increase last year was $1,136 million.

Commenting on the Q1FY25 performance, Mike Frank, CEO, UPL Corporation Ltd., said: ″We continue to see strong fundamentals in the global crop protection market, with farmgate demand for our products at or above last year levels in most regions.

Herbicides led the growth in North America, driven by glufosinate and clethodim. Our herbicide performance in Brazil also did well. Fungicides growth was led by higher volumes in Europe and North America.

Revenue growth in our Natural Plant Protection (NPP) business was impressive, up 10 per cent versus last year, driven by a strong performance in Europe, among other regions.

Our contribution margin compressed by 600 bps vs Q1FY24. This was primarily due to price decline, and partially offset with lower cost of goods. Increased freight costs and foreign exchange were also headwinds on margins this quarter.

From an SG&A perspective, we continue to remain disciplined, and the organization is focused on making improvements in the operating model and driving efficiency throughout the enterprise. ″

Commenting on the Q1FY25 performance, Ashish Dobhal, CEO, UPL SAS, said: ″On our India Crop Protection business (UPL SAS), we continued our efforts to restructure the business through strict credit policies and tighter credit terms, which lead to a postponement of sales closer to season, and the consequent impact on Q1FY25 revenues. However, our contribution margins and cash flows have improved and working capital reduced, giving us the confidence that this is the right structural move for us in India”.

Commenting on the Q1FY25 performance, Bhupen Dubey, CEO, Advanta, said: ″On our global seed platform, Advanta, we saw some headwinds in Q1FY25 on account of weather challenges that impacted production, created inventory shortages and supply constraints, leading to the impact on sales and EBITDA margins. ″

Seeds business faced headwinds on account of