UPL reports 24% yoy growth in Q3 revenue at Rs11,297cr, EBITDA up by 21%; Stock gains 1.5%

31 Jan 2022 , 11:37 AM

UPL Ltd. announced its results for the quarter ending December 2021 and reported a satisfactory performance for the quarter. It has reported growth in all avenues.

The company reported a revenue of Rs 11,297 crore for the quarter ending December 2021, as against Rs 9,125 crore for the quarter ending December 2020, reflecting a growth of 24% YoY on the back of healthy growth in volumes (+11%) and better product realizations (+13%).

UPL reported an EBITDA of Rs 2,666 crore for Q3 FY’22 against Rs 2,209 crore for Q3 FY’21, registering a growth of 15% YoY. While its EBITDA margin for the quarter stood at 23.6% against 24.2% for the previous corresponding quarter, shedding 61 bps. Inhouse manufacturing with backward integration linkages supported by effective raw material sourcing and overall cost management helped in keeping the EBITDA margins largely intact, despite the higher input costs and a sharp rise in freight charges.

UPL reported a PAT of Rs 937 crores for Q3 FY’22 against Rs 793 crores for Q3 FY’21, registering a growth of 18% YoY. While PAT for the 9M period ending December 2021 stood at Rs 2,247 crores against Rs 1,807 for the previous corresponding period, up by 24% YoY.

“UPL delivered another quarter of strong business performance in a challenging environment with growth across all regions except India. We are confident of continuing this business momentum and ending the fiscal year 2022 on a strong note,” stated Mr. Jai Shroff, CEO — UPL Ltd.

UPL Ltd is currently trading at Rs802.35 up by Rs11.8 or 1.49% from its previous closing of Rs790.55 on the BSE. The scrip opened at Rs798 and has touched an intraday high and low of Rs812 and Rs793.85 respectively.