The agri-solutions major recorded consolidated revenue of ₹51,839 crore in FY26, registering an 11% year-on-year growth. Contribution increased 17% YoY to ₹21,338 crore, with margins expanding by 220 basis points to 41.2%. EBITDA rose 18% to ₹9,588 crore, taking EBITDA margins to 18.5%.
One of the biggest highlights of the year was the sharp improvement in profitability. UPL’s Profit Before Tax (PBT) grew nearly four times compared to the previous year, while Operational PATMI more than doubled, reflecting improved operational efficiency and tighter financial discipline.
The company also made substantial progress in reducing debt. Net debt stood at USD 1.6 billion at the end of FY26, down by USD 405 million compared to March 2025. UPL said the deleveraging was supported by efficient capital management and proactive refinancing initiatives aimed at improving liquidity and reducing financial risk.
Across businesses, UPL Corp’s Agri Solutions segment reported 11% revenue growth, driven largely by higher volumes, favourable foreign exchange movement, and improved performance across geographies.
Advanta Seeds emerged as one of the strongest performers during the year, delivering 23% revenue growth led by higher field corn volumes and sustained momentum across international markets.
The company’s specialty chemicals platform, Superform Chemistries, recorded 13% contribution growth along with 240 basis points margin expansion. Growth in contract manufacturing, especially in lubricants and cyanide derivatives, supported the segment’s performance.
Meanwhile, UPL Sustainable Agri Solutions reported 19% growth in contribution and a sharp 530 basis point improvement in margins. The company attributed the growth to strong performance of key brands, portfolio rationalisation, and new product launches.
Region-wise, North America led growth with an 18% increase in revenues, followed by Europe at 14%, Latin America at 10%, Rest of the World at 10%, and India at 7%.
Commenting on the performance, Bikash Prasad said FY26 was focused on driving profitable growth while strengthening the company’s financial foundation.
He noted that despite global headwinds including US tariffs, continued farm stress, and weak commodity prices, UPL outperformed its guidance across all major parameters. He further highlighted that the company repaid USD 500 million of debt during March and proactively refinanced upcoming obligations to strengthen liquidity and position the company for long-term financial stability.
Industry observers believe UPL’s FY26 performance reflects improving global demand conditions in crop protection and agri-input businesses, alongside stronger execution and cost optimisation measures. The company’s focus on operational efficiency, portfolio optimisation, and balance sheet correction is expected to support future growth momentum in the global agriculture sector.
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