Indian agrochemicals maker UPL posts higher quarterly profit on strong N.America demand

UPL

12/05/2025 10:12

May 12 (Reuters) - Agrochemicals maker UPL UPLL.NS reported a surge in fourth-quarter profit on Monday on strong demand in the North America market and softer raw material costs.

        The company's consolidated net profit rose to 8.96 billion rupees ($105.7 million) for the three months ended March 31, from 400 million rupees a year ago.

Revenue from operations rose 10.6% to 155.73 billion rupees.

A 5% drop in the cost of raw materials, such as phosphorus and sulphur derivatives, helped ease total expenses marginally.

For further results highlights click nFWN3RK0BM

KEY CONTEXT

Strong volume recovery in herbicides and fungicides in the quarter helped the company register a 77% sales growth in the North America market, while growth in Latin America, its largest market, grew 2%, UPL said.

India's agrochemical companies have seen muted growth over the past few quarters, primarily due to efforts to clear excess inventory built up amid subdued demand.

Analysts expect the sector's fiscal 2026 earnings to be pressured by rising competition in international markets beyond the United States and weakening demand stemming from U.S.-imposed tariffs.

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**
Div yield (%)
UPL
UPLL.NS
17.92
9.43
8.67
148.39
Buy
20
1.01
0.14
Dhanuka Agritech
DHNP.NS
17.39
12.11
14.44
12.97
Buy
10
0.73
1.12
PI Industries
PIIL.NS
30.59
20.75
11.66
7.92
Buy
23
0.90
0.41
Rallis India
RALL.NS
23.12
11.26
10.63
41.83
Sell
12
1.02
1.06

* The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

OCTOBER-DECEMBER STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 84.7480 Indian rupees

UPL JAN-MARCH https://tmsnrt.rs/4jR8gis

 (Reporting by Anuran Sadhu in Bengaluru; Editing by Eileen Soreng)

 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))