UPL Limited — PPTs, 20-02-2026: Investor Presentation

UPL has unveiled a significant strategic group reorganization, aiming to transform into a focused crop protection powerhouse. This move seeks to unlock shareholder value by simplifying its structure and creating distinct, independently valued business platforms.

**Business Performance:** UPL demonstrates robust financial health, with TTM Dec 25 revenue reaching ₹49,077 Cr and EBITDA at ₹9,182 Cr (18.7% margin). The company is aggressively deleveraging, reducing Net-Debt/EBITDA to 2.1x in FY25, targeting 1.2-1.5x in the medium term.

**Growth Drivers:** The new entity, UPL Global, will become a pure-play crop protection leader, leveraging UPL's strong supply chain, innovation in bio-solutions, and customer-centric approach to drive growth, particularly in differentiated and post-patent products.

**Recent Developments:** The core of the reorganization involves consolidating UPL's international and Indian crop protection businesses into UPL Global. This includes specific mergers and demergers. An IPO process for Advanta (Global Seeds and Post Harvest) is also underway.

**Key Financial Metrics (UPL Global Pro-forma):** The pro-forma TTM Dec 25 revenue stands at ₹39,635 Cr, with EBITDA at ₹6,145 Cr (15.5% margin). Its initial Net-Debt/EBITDA is 3.8x, targeting 2.0-2.3x post-listing.

**Outlook:** UPL Global is poised to become a top-tier global and Indian crop protection company. UPL Ltd will evolve into a strategic parent, incubating new ventures in areas like bio-ethanol and green chemicals, supported by stable cash flows from its platforms. The listing of UPL Global is anticipated within 12-15 months.