UPL

UPL delivered a strong FY26 with revenue up 11%Current reported value: 11%. No comparable prior figure is available in the source record. to ₹52,000 crore and EBITDA up 18%Current reported value: 18%. No comparable prior figure is available in the source record., driven by volume-led growth across all regions and platforms. Contribution margin expanded 220bpsCurrent reported value: 220bps. No comparable prior figure is available in the source record. to 31.5%Current 31.5%. Reported change: +250bps YoY. in crop protection, while net debt/EBITDA fell to 1.6xCurrent 1.6x. Reported change: -0.5x YoY. from 2.1x. The company provided a Q1 FY27 guidance of 10-14% revenue growth and 14-18% EBITDA growth, citing cautious optimism despite Middle East supply disruptions. A key risk is the elevated ECL provision of ₹350 crore in Q4, reflecting credit stress in Latin America. Management also announced a reorganization to unlock value in Advanta and Superform, though some investors raised concerns about shareholder dilution.