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Through this acquisition UPL plans to advance its mission to reduce food waste and support food supply chain sustainability.

UPL Ltd. a global provider of sustainable agricultural solutions, announced that its post-harvest business, DECCO, through a subsidiary has acquired the business of TeleSense, the world’s leading provider of remote monitoring solutions for crop storage and transportation, to advance its mission to reduce food waste and support food supply chain sustainability.  TeleSense will join DECCO in the OpenAg® network, a platform pioneered by UPL, committed to Reimagining Sustainability for global agriculture.

TeleSense uses scalable sensor technology on an artificial intelligence (AI) platform to monitor temperature, humidity and carbon dioxide (CO2) levels in stored grain and other crops. It uses fixed and portable sensors to monitor the condition of stored food commodities, automates the early detection of potential issues such as hotspots, excess moisture, and pests and mitigates spoilage, quality degradation, and food waste. The TeleSense app provides users with alerts to effectively manage crop quality, reduce waste, ensure safety, and improve operational efficiency. Adding TeleSense technology to DECCO’s portfolio complements its robust range of gas monitoring, safety and detection devices as well as fumigants.

DECCO is a global leader in providing post-harvest solutions to reduce food waste and enhance the freshness of fruits and vegetables across the food supply chain. The acquisition of TeleSense follows a successful strategic collaboration formalised between UPL and TeleSense in January 2021. It continues DECCO and the wider OpenAg® network’s ongoing commitment to investing in and scaling technologies that improve food security, advance the sustainability of the sector, and reinforce farmers and grower resilience.

Jai Shroff, Global CEO of UPL Ltd., said: “The last six months have seen the challenge of food security attract global attention, but one important aspect has been overlooked: food waste. More than 1.3 billion tonnes of food are wasted every year – as much as a third of all food produced for human consumption – much of it before it reaches consumers. Our acquisition of TeleSense furthers our ability to produce constant innovation of smarter and safer solutions to minimise waste at the heart of the food system.

Naeem Zafar, the co-founder of TeleSense, Inc. said, “TeleSense’s vision was to revolutionise the way that food is stored by bringing the latest digital technologies to solve age-old problems. DECCO shares this vision, and we have seen first-hand the benefits of collaboration and of combining complimentary technological offerings.”

Through this acquisition UPL plans to advance

The recent funding includes investment from Ospraie Ag Sciences (OAS), Bunge Ventures, the for-profit, global investment arm of Bunge and UPL Ltd.

Phospholutions Inc., a leader in sustainable fertilizer technology, has announced additional investment from leading global agricultural companies to support commercialization of RhizoSorb® in the US row crop market. The recent funding includes investment from Ospraie Ag Sciences (OAS), Bunge Ventures, the for-profit, global investment arm of Bunge and UPL Ltd.

“RhizoSorb® is proven to deliver the same amount of phosphorus to the plant with half the amount of applied fertilizer,” said Founder and Chief Executive Officer, Hunter Swisher. “Conventional fertilizers are inefficient as less than 25 per cent of phosphorus is taken up by the crop during the growing season. With recent increases in fertilizer prices and supply constraints in key global markets, farmers urgently need proven solutions to help maximize the return on input costs. This investment helps accelerate our commercial launch by supporting this year’s commercial trial program, strategic development partnerships, and enables product to be delivered to the US row crop market for the 2023 growing season.”

Utilizing its extensive network and 25 years of experience investing in agriculture, OAS is positioned to help farmers achieve a sustainable future. Carl Casale from OAS commented, “RhizoSorb® technology aligns closely to our venture firm’s mission to do more with less. The technology promotes increased grower profitability and reduces environmental impact to contribute to a more sustainable future for farming.”

This new investment series announced follows the Series A totaling $10.3M announced early last year, which allowed Phospholutions to more than triple in size. At the time, the investments were led by Continental Grain Company with participation from Tekfen Ventures, Maumee Ventures, Ag Ventures Alliance, and 1855 Capital. Additionally, Phospholutions recently won a $250K investment during The Radicle Challenge by UPL.

The recent funding includes investment from Ospraie

 Company records Net Profit of Rs 3,626 crore in FY22, up 26% YOY

Agrochemical major, UPL Ltd., today reported financial results for the fourth quarter of FY22 (Jan-Mar 2022). Q4 FY22 Revenue witnessed robust growth of 24% YoY to reach Rs 15,860 crore, led by better product realizations (+19 per cent ), higher volumes (+3 per cent) and currency impact (+2 per cent)

 Q4 FY22 EBITDA grew by 26 per cent YoY to Rs 3,591 crore as against Rs 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)

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.”

 Company records Net Profit of Rs 3,626