UPL Q1 PAT rises 29% YoY; revises FY23 guidance upwards

1 Aug 2022 , 04:04 PM

The growth in revenue was led by better product realizations (+18%), favorable exchange rate (+3%), and higher volumes (+6%). EBITDA improved by 26% to Rs 2,342 crore in Q1 FY23 from Rs 1,862 crore in Q1 FY22.EBITDA margin was 21.6% in Q1 FY23 as against 21.9% in Q1 FY22. A significant uptick in realizations supported by efficient supply chain management aided in maintaining EBITDA margins despite inflationary pressures, the company said. Profit before tax in Q1 FY23 stood at Rs 1,111 crore, up by 67% from Rs 664 crore in Q1 FY22. Jai Shroff, CEO – UPL, said ?After a strong end to FY2022, we continued to see solid growth momentum in Q1 FY23, asthe strong agri commodity prices drove significant uptick in price realizations as well as healthy demand from growers. The EBITDA margin remained largely intact despite the significant input cost inflation and a challenging macro-economic environment exacerbated by geopolitical issues. This was driven by proactive pricing actions coupled with efficient supply chain management that led to the strong topline growth getting translated into robust operating profitability growth as well. Moving on, as we look ahead to the rest of the year, we are well poised to continue our healthy growth momentum, as product realizations continue to remain strong, recent new launches continue to see good traction in the marketplace, and the overall demand outlook continues to be constructive. Considering this positive outlook, we have revised our FY23 guidance upwards, expecting to achieve a revenue growth of 12-15% now versus 10% earlier, and EBITDA growth of 15-18% versus 12-15% earlier.? UPL is a global provider of sustainable agriculture products & solutions. The scrip rose 3.95% to end at Rs 769.50 on the BSE today. Powered by Capital Market – Live News