UPL Q2 Results: FY26 EBITDA guidance raised, revenue projection unchanged; Stock recovers

Shares of UPL Ltd. recovered from the lows of the day on Thursday, November 6, in response to its quarterly results for the July-September period, during which it raised its operating profit guidance.

UPL now sees its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) growing between 12% to 16%, from the earlier growth projection of 10% to 14% earlier.

The company has maintained its revenue growth guidance for the full year to be between 4% to 8%.

For the September quarter, UPL reported a net profit of ₹553 crore, compared to a net loss of ₹443 crore during the same quarter last year. The profitability was also aided by a one-time gain of ₹142 crore, compared to a loss of ₹8 crore in the base quarter.

Revenue for the quarter grew by 8.4% from last year to ₹12,019 crore from ₹11,090 crore last year.

UPL's EBITDA at the end of the September quarter stood at ₹2,205 crore, which is a growth of 40% from last year's figure of ₹1,575 crore.

EBITDA margin for the quarter increased by 400 basis points to 18.3% from 14.2% last year.

UPL's net working capital days improved to 118 from 123 last year, while its Net-Debt-to-EBITDA improved to 2.7x from 5.4x last year.

Advanta's volumes grew by 14% from last year led by higher volumes in field corn across India, Argentina, and other Latin American countries, along with Sunflower in Argentina.

Shares of UPL are off the lows of the day but are trading 0.7% lower at ₹726.1. The stock is up 45% so far in 2025.