Agrochemicals company UPL announced Q2FY23 results: Q2FY23 EBITDA grew by 35% YoY to Rs 2,768 crore Growth momentum continued into Q2FY23 with 18% YoY uptick in sales to reach Rs 12,506 crore Net Profit grew by 28% YoY to Rs 813 crore Commenting on the performance, Mr. Jai Shroff, CEO – UPL, said “We continued to see robust growth momentum in Q2 FY23 with 18% YoY. Our focus on quality growth with a better product mix and proactive pricing actions drove a strong 35% YoY growth in EBITDA, with EBITDA margins expanding by ~278 bps. As a group, our top priority is creating value for shareholders. In line with this, we recently announced a strategic corporate realignment initiative, creating distinct pure-play platforms to accelerate growth and unlock value for shareholders. We have brought on-board marquee investorssuch as ADIA, Brookfield, KKR and TPG, who have collectively invested around Rs 4,000 crore (or US$ 500 Mn) for minority stakes in our India Agtech and Global Seeds Business Platforms. Going forward, we are well poised to continue our healthy growth momentum in the 2nd half of the year and we are confident of meeting our FY23 guidance of revenue growth of 12-15%, EBITDA growth of 15- 18% and reducing net debt by $ 650 million" Result PDF
Conference Call with UPL Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.