India's UPL posts higher quarterly profit before tax on crop protection strength

UPL

02/02/2026 10:51

Feb 2 (Reuters) - Indian agrochemical maker UPL UPLL.NS posted a 89.5% increase in profit before tax on strong growth in its crop protection business across geographies.

The company's consolidated profit before tax rose to 6.71 billion rupees ($73.33 million) for the three months ended December 31, compared to 3.54 billion rupees ($38.69 million) in the year-before period.

The company notched a one-time tax windfall of 5.92 billion rupees in the December 2024 quarter.

Revenue from operations rose 12.5% to 122.69 billion rupees.

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KEY CONTEXT

Demand for crop protection products, especially herbicides, and demand for seeds, grew in the reporting quarter, according to Elara Capital, as reduced farmer profitability drove customers to seek affordable post-patent solutions.

A healthy product mix and favourable input costs also helped its margins, the company said in its statement.

Indian rating agency Crisil has estimated a 6%-7% rise in revenue for Indian agrochemical makers, driven by global demand resurgence and normalization of inventories.

Shares of the company closed 5.22% higher after the results.

PEER COMPARISON

Valuation (next 12 months)
Estimates (next 12 months)
Analysts' sentiment
RIC
PE
EV/EBITDA
Revenue growth
profit growth
Mean rating
# of analysts
Stock to price target
UPL Ltd
UPLL.NS
15.38
8.26
7.95
45.90
BUY
16
0.82
Dhanuka Agritech Ltd
DHNP.NS
15.15
9.94
13.57
14.20
BUY
9
0.66
PI Industries Ltd
PIIL.NS
27.22
18.38
9.91
8.15
HOLD
23
0.83
Tata Technologies Ltd
TATE.NS
33.49
23.57
14.17
24.31
HOLD
13
1.02

OCTOBER-DECEMBER STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 91.5037 Indian rupees

UPLL.NS chart Q3 https://fingfx.thomsonreuters.com/gfx/mkt/jnvwkngwgvw/UPLL.NS%20cht.png

 (Reporting by Abhirami G in Bengaluru; Editing by Janane Venkatraman)

 ((abhirami.g@thomsonreuters.com))