UPL Ltd. share price target

UPL Ltd (UPLL) posted a strong 1Q operating performance, with EBITDA growing 23% YoY to INR16.1b, driven by price increases and a better product mix.

We expect UPL Ltd. to report revenue of INR 101,274 Mn, registering a 9.9% YoY growth in Q1 FY27. Growth is expected to be driven primarily by the domestic business, which is likely to deliver double-digit growth, supported by healthy demand across key crop protection products.

UPL saw a healthy growth momentum in Q4FY26, supported by improved execution and sharper capital allocation across key business verticals. The management highlighted broad-based traction across the global crop protection business, seeds platform, India business and the specialty chemicals segment. The company also continued to focus on differentiated and sustainable product offerings to improve the quality of growth. The management said specialty chemicals, biologicals and...

We expect the company to grow its Revenue/EBITDA/PAT at a CAGR of 6.9% / 17.2% / 65.8% for the period of FY26-FY28. Currently trading at 10x FY28E, we value the company at 11x FY28E EPS 62.6, implying a target price of INR 688 with the upside of 8%.

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UPL has unveiled a strategic three-phase restructuring of its operations to establish a pure-play listed crop protection company by consolidating its global and domestic franchises.

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UPL's strong Q2FY26 performance was characterised by broad-based operational improvement and margin accretion. With volume driving growth in both Global Protection and Advanta, the company enters H2FY26 with a healthier demand backdrop, normalised channel inventories and improved cost competitiveness. Management highlighted sustained traction in herbicidies and fungicidies, Advanta's integration with the post-harvest business continues to accelerate synergy benefits, and Superform's rising share of speciality chemicals strengthens diversification....

UPL is well-positioned to deliver a stronger H2FY26, supported by normalization in LATAM demand, robust growth momentum in North America, and margin tailwinds from low-cost inventory and improved product mix.

Beating Consensus estimates and ARe, UPL’s revenue/EBITDA rose 8/40% y/y to Rs120.2/22bn in Q2. It posted Rs4.4bn PAT vs. Rs4.3bn loss in Q1 FY25.

UPL Limited has announced an internal realignment involving the integration of its Post Harvest Business (Decco) with the Advanta seed business.

UPL Ltd (UPLL) made a decent start to FY26, with EBITDA growing 14% YoY to INR13b, led by a better product mix (EBITDA margin up 150bp YoY), higher capacity utilization, and lower COGS (gross margins up 460bp YoY), despite revenue growth of 2% to INR92b.

UPL Limited announced that its Rights Issue Committee has approved the second and final call of INR 180 per partly paid-up equity share (INR 1 face value + INR 179 premium), representing 50.0% of the issue price of INR 360.

*over or under performance to benchmark index UPL Ltd is a global agriculture solutions company engaged in the agrochemicals and industrial chemicals business, with manufacturing sites globally. Through...

The quarter’s revenue reached Rs. 11,090 crore, marking a 9% increase y-o-y and a 22% q-o-q rise.

UPLL reported a weak quarter as revenue grew marginally (1% YoY), led by strong volume growth (up 16%) offset by lower agrochemical prices.

UPLL reported a weak quarter as revenue declined 15% YoY, primarily due to
lower agrochemical prices (down 15% YoY) and volume decline of 2% YoY.
EBITDA margins contracted 450bp YoY largely due to higher rebates (~5%
price impact) and liquidation of high-cost inventory, partly offset by an
improved product mix and a lower cost of goods sold.