UPL Q4 net up 29% at ₹1,379 crore on robust growth in India, N America

BL Bengaluru Bureau | | Updated on: May 09, 2022
Jai Shroff, Global CEO, UPL

Jai Shroff, Global CEO, UPL | Photo Credit: ASHISH BALLAL

FY 22 net up 26% at ₹3,626 crore

Agrochem giant UPL Ltd reported a 29 per cent rise in net profits for the quarter-ended March 2022 at ₹1,379 crore over same period last year’s ₹1065 crore on robust growth in geographies such as India and North America. Revenue for the March quarter grew 24 per cent at ₹15860 crore (₹12797 crore in Q4 FY21)

For the full financial year 2021-22, UPL reported 26 per cent growth in profits at ₹3,626 crore( ₹2,872 crore in FY21) . Revenues for the year grew 19 per cent at ₹46,240 crore( ₹38,694 crore) . The revenue growth during the year was driven by a mix of 8 per cent volume growth, 10 per cent pricing and 1 per cent foreign exchange

“FY22 was a year of challenging macro-environment, input cost inflationary pressures and supply chain disruptions and we chose to prudently invest towards ensuring reliable growth going forward. As we look ahead into the new year, we feel very well-positioned to further power our growth trajectory as the demand outlook continues to be constructive supported by strong agri-commodity prices,” said Jai Shroff, Global CEO – UPL. Better pricing coupled with efficient supply chain management and benefit of backward integration helped the company deliver robust growth, he added

To pay dividend of ₹10/share

The UPL board declared a dividend of 500 per cent for FY22, that is, ₹10 per share on equity share of face value of ₹2 each. The UPL scrip ended lower at ₹775.55 on the BSE in a weak market.

In March quarter, revenues from India grew 63 per cent ₹1,384 crore registering the highest growth among all geographies, followed by North America at 38 per cent. Revenue increase in India was driven by herbicides and new product launches. The overall favourable commodity prices for cash crops, oilseeds and pulses aided the growth trend. For FY22, the Indian revenues were up 22 per cent, while North America registered a higher growth of 37 per cent.

For the current financial year 2022-23, UPL is eyeing a revenue growth of over 10 per cent. Shroff said the company expects to benefit from the strong commodity prices. Also the higher cost of fertilisers and reduced availability of nutrients is seen favouring the use of bio-solutions and conventional crop protection, from which the company expects to benefit.

Published on May 09, 2022
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