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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

Company’s revenue from operations declined 15.03 per cent YoY to Rs 14,078 crore in the quarter ended 31 March 2024, primarily due to lower prices in the post-patent market.

Agrochemical major UPL Ltd has reported 94.95 per cent decline in consolidated net profit to Rs 40 crore in Q4 FY24 as against a net profit of Rs 792 crore recorded in Q4 FY23.

 Company’s revenue from operations declined 15.03 per cent YoY to Rs 14,078 crore in the quarter ended 31 March 2024, primarily due to lower prices in the post-patent market (prices came off against last years [LY] higher base). However, volumes were largely in line with last year.

Company reported that Profit before exceptional items and tax slumped to Rs 135 crore as compared to Rs 1,420 crore reported in the same quarter a year ago. Exceptional items stood at Rs 105 crore in Q4 FY24 as compared to Rs 29 crore recorded in Q4 FY23.

Company’s EBITDA slipped 36 per cent to Rs 1,933 crore in the March 2024 quarter from Rs 3,033 crore reported in Q4 FY23. EBITDA margin dropped by 458 bps YoY to 13.7 per cent during the period under review.

The company’s revenue from crop protection was at Rs 15,080 crore (down 17.75 per cent YoY) and non agro stood at Rs 621 crore (down 9.21 per cent YoY). However, income from seeds business was at Rs 1,130 crore (up 30.33 per cent YoY).

UPL’s revenue from Europe rose by 10 per cent YoY. Income from North America declined 49 per cent YoY followed by India, down 24 per cent YoY and Latin America shed 23 per cent YoY during the period under review. Income from rest of the world increased 21 per cent YoY during the quarter.

During the quarter, net debt increased by $602 million vs previous year to $2.66 billion at the end of FY24 due to reduced factoring, and cash flow impact of decline in profitability.

Mike Frank, CEO, UPL Corporation, said, “We delivered significantly improved financial results in Q4 versus the two preceding quarters, in spite of the prevailing volatile and challenging market conditions. As compared to Q3, volumes recovered well and were in-line with LY, largely led by the strong performance of our high-margin differentiated and sustainable portfolio, which contributed 36 per cent of crop protection revenue vs 29 per cent LY. Our recent launches of Evolution, Feroce and Shenzi did exceedingly well, growing volumes by more than 50 per cent.

Furthermore, Advanta, our global seeds platform continued to see robust traction delivering revenue growth of 34 per cent and 38 per cent respectively for the quarter.

Company’s revenue from operations declined 15.03 per

This prestigious acknowledgment reinforces UPL’s position as one of India’s leading agrochemical companies in the market.

UPL Ltd., a global provider of sustainable agricultural solutions, has been recognised as a ‘Well-Known Trademark’ by the Indian Trademark Registry. This prestigious acknowledgment reinforces UPL’s position as one of India’s leading agrochemical companies in the market, thereby fostering trust and credibility among customers.

In 2021, UPL filed its first “well-known” trademark application under the new regulations. The petition included comprehensive details about their brand evolution, extensive evidence of public recognition, and information on their various initiatives. After a detailed analysis and procedure, the company received the esteemed ‘Well-known trademark’ title.

In addition to strengthening UPL’s brand positioning, this recognition also provides enhanced legal protection, a competitive advantage, simplified marketing efforts, and increased company value. Speaking about the achievement, Ashish Dobhal, CEO, UPL SAS, said, “We are honoured to have been recognized as the ‘Well-Known Trademark’. This achievement underscores our relentless pursuit of excellence and commitment to delivering innovative solutions to empower farmers with the best[1]quality products for enhanced agricultural productivity. This acknowledgment validates our brand’s prominence in providing best-in-class agricultural solutions to farmers worldwide.”

A “well-known” trademark denotes a high level of recognition among the public, associating the brand with specific goods or services. This recognition is so strong that using a similar mark for different offerings could mislead consumers and create confusion about the source or origin. The 2017 Rules established a streamlined process for seeking “well-known” status. Companies can submit detailed applications to the IP Office, outlining their brand history, evidence of recognition, and supporting documentation.

UPL remains steadfast in its commitment to innovation, sustainability, and customer-centricity as it continues to pave the way for a more resilient and prosperous agricultural future.

This prestigious acknowledgment reinforces UPL’s position as

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