UPL reports record FY26 performance with ₹51,839 crore revenue and significant debt reduction

Kinjal — Mon, 11 May 2026 07:55:15 +0000

UPL Limited has announced a record performance for the financial year ending March 31, 2026, with significant improvements across various financial metrics. The company reported a revenue of ₹51,839 crore for FY26, marking an 11% year-on-year increase. The contribution for the year stood at ₹21,338 crore, up 17% from the previous year, with a margin expansion of 220 basis points to 41.2%. EBITDA for FY26 was ₹9,588 crore, reflecting an 18% growth year-on-year, with a margin increase of 110 basis points to 18.5%.

The company successfully reduced its gross debt by $850 million compared to the previous year, bringing it down to $2.3 billion. The net debt was also reduced by $405 million, standing at $1.6 billion. UPL’s net debt to EBITDA ratio improved to 1.6x from 2.1x in March 2025, and the net debt to equity ratio improved to 0.4x from 0.5x.

In Q4FY26, UPL achieved a revenue of ₹18,335 crore, an 18% increase year-on-year. The contribution for the quarter was ₹7,069 crore, up 19%, with a margin of 38.6%, a 50 basis points increase. EBITDA for the quarter was ₹3,646 crore, a 13% rise from the previous year, although the margin slightly decreased by 90 basis points to 19.9%.

The company’s growth was driven by increased volumes and favourable foreign exchange impacts, particularly in North America and Europe. Platforms such as UPL Corp, Advanta, and SUPERFORM contributed significantly to the revenue increase, with UPL Corp and Advanta showing 20% and 23% growth, respectively.

Chairman and Group CEO Jai Shroff expressed pride in the company’s record performance, highlighting its ability to outperform guidance across all metrics despite challenging macroeconomic conditions. Group CFO Bikash Prasad emphasised the focus on profitable growth and financial discipline, noting the fourfold increase in profit before tax compared to the previous year.

Looking ahead, UPL aims to accelerate profitable growth with a focus on sustainable business streams and market opportunities.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Bikash Prasad | Business Upturn

UPL reports record FY26 performance with ₹51,839 crore revenue and significant debt reduction