UPL Delivers Strong Q3 Performance; EBITDA Up 13%, Debt Reduces Sharply

UPL Limited reported another robust quarter with strong operational and financial improvement for Q3 FY26. Consolidated revenue grew 12% year-on-year to ₹12,269 crore, driven by higher volumes and favorable currency impact. EBITDA rose 13% to ₹2,434 crore, supported by better product mix, lower input costs and improved capacity utilization. Profitability saw a sharp recovery, with Profit Before Tax jumping 90% to ₹671 crore, while operational PAT increased 45% year-on-year. The company delivered broad-based growth across key segments including crop protection, seeds and specialty chemicals. A major highlight was balance sheet strengthening. Net debt reduced significantly to ₹23,317 crore, down by over ₹2,500 crore from last year, improving the Net Debt/EBITDA ratio to 2.5x from 3.8x. The company maintained financial discipline while continuing to invest in growth. Regionally, Europe and Rest of World led performance with revenue growth of 21% and 32% respectively, while India and Americas also posted steady gains. The seeds business under Advanta grew 22%, and specialty chemicals expanded strongly by 42%. Management reaffirmed full-year FY26 guidance, expressing confidence in sustaining momentum. With improved margins, debt reduction and steady demand, UPL appears well positioned for a strong finish to the financial year. Disclaimer: For informational purposes only. Not investment advice.