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BSE MidCap Select News and Updates

Agrochemicals company UPL announced Q2FY26 results Revenue growth driven by higher volume and supported by favorable Fx: Platforms: strong performance in UPL Corp (+12%) and Advanta (+26%), driven by volumes; SUPERFORM steady vs LY, while UPL SAS declined by 10% due to unfavorable weather Regions: led by North America (+63%), and supported by Latin America (+13%). Contribution margin (+420 bps vs LY) led by improved mix, higher capacity utilization and lower input cost, driving EBITDA margin (+410 bps); EBITDA growth and accroreetion acroreoss all platforms. Profit after Tax and Minority Interest (PATMI) at Rs 553 crore, up by ~Rs 1,000 crore vs LY; Operational PATMI improved by ~Rs 845 crore, up from (Rs 434 crore) in LY to Rs 411 crore. Net working capital: 118 days (vs 123 days LY) at Rs 15,463 crore (Sep‘25). Net debt at Rs 23,802 crore (USD 2,681 million) in Sep‘25, reduced by Rs 3,729 crore (USD 605 million) vs LY (adjusted for perpetual bonds, lower by ~Rs 7,100 crore / ~USD 1.0 billion); significant de-gearing vs LY. Successful integration of post-harvest business (DECCO) with Advanta. USD 200 million (Rs 1,685 crore) balance from final call on Rights Issue received in Sep’25. Rating upgraded from “negative” to “stable” by all three global agencies (S&P;, Fitch, Moody’s). Jai Shroff, Chairman & Group CEO, UPL, said: "We are pleased to report a strong first half, with a superior Q2 building on the momentum from previous quarter. Our deep relationships in key markets and diversified customer base continue to drive sustainable growth. UPL’s backward-integrated manufacturing and innovation-led R&D; pipeline are strengthening quality and resilience acroreoss the business. We remain focused on unlocking value through our strategically built platforms and are actively evaluating opportunities, including restructuring, strategic fund-raising, and potential liquidity events. With disciplined execution and robust new product pipeline, we are optimistic for FY26 and confident in our outlook.” Bikash Prasad, Group CFO, UPL, said: "Q2 has been a standout quarter, underscoring our operational excellence and financial discipline acroreoss platforms. We delivered broad-based EBITDA growth, reduced net debt, lowered finance costs through effective capital management, and improved our gearing, resulting in a strong PATMI, positively reflecting on our commitment to long-term value croreeation. Our Q2 results are a testimony to our relentless efforts on improving the quality of earnings, and efficient risk management. With a strong H1 behind us and a favourable outlook for H2, we are pleased to upgrade our FY26 EBITDA guidance to 12–16% growth over last year, reaffirming our focus on sustained growth for our shareholders.” Mike Frank, Chief Executive Officer, UPL Corp, said: “We delivered a strong quarter, giving us positive momentum as we enter the larger second half of our year. Our performance was driven by both North America and Latin American regions. Product wise, we saw good growth in our herbicide and fungicide portfolios. I am also pleased to share that our contribution and EBITDA margins expanded significantly through our continued focus on improving efficiencies, cost optimisation and innovation. With positive outlook for rest of the year, we remain confident and committed to delivering long-term value for all our stakeholders.” Bhupen Dubey, Chief Executive Officer, Advanta, said: “I am proud to share that Advanta continues to deliver marketleading strong, consistent results quarter after quarter. We are amongst the fastest-growing seeds companies globally and now rank in the top 10 players worldwide by scale. Additionally, our robust margins reflect our unwavering focus on the quality of our business and the strength of our technology.” Result PDF

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