UPL

May 11 (Reuters) - UPL Ltd UPLL.NS:

• UPL LTD MARCH-QUARTER CONSOL NET PROFIT 10.61 BILLION RUPEES

• UPL LTD MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 183.35 BILLION RUPEES

• UPL LTD - RECOMMENDS DIVIDEND OF 6 RUPEES PER EQUITY SHARE

Further company coverage: UPLL.NS

((Reuters.Briefs@thomsonreuters.com;))

March 16 (Reuters) - Idemitsu Kosan Co Ltd 5019.T:

• IDEMITSU KOSAN: STARTED JOINT STUDY WITH INDIA'S UPL ON SYNTHETIC AND BIOFUELS PROCUREMENT, AND RELATED BUSINESS

Source text: [ID:]

Further company coverage: 5019.T

(Tokyo Newsroom)

** Shares of agrochemicals maker UPL UPLL.NS fall 12% to 661 rupees, their steepest intraday drop since March 25, 2020

** UPL is reorganising its India and overseas crop‑protection businesses into a newly listed unit, UPL Global

** Nuvama says the move may streamline operations but does little to ease UPL’s debt overhang

** Notes total debt stays broadly unchanged, split between UPL Global and the remaining India business

** Kotak says the reorganisation mainly offers an exit to PE investors, not value‑unlocking

** Biggest drawback is likely emergence of sizeable holding‑company discounts on UPL's stakes in UPL Global SAS, Advanta, Kotak says

** Public shareholders to see dilution in their indirect stake in UPL Global, which more than offsets the 11.6% additional direct stake they will receive - Kotak

** 17 analysts have a "buy" rating on UPL on avg; median PT is 833 rupees - data compiled by LSEG

** UPLL down ~5% so far this year

(Reporting by Yagnoseni Das in Bengaluru)

((Yagnoseni.Das@thomsonreuters.com;))

Feb 2 (Reuters) - UPL Ltd UPLL.NS:

• UPL LTD DEC-QUARTER CONSOL NET PROFIT 3.96 BILLION RUPEES

• UPL LTD DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 122.69 BILLION RUPEES

Further company coverage: UPLL.NS

((Reuters.Briefs@thomsonreuters.com;))

Jan 29 (Reuters) - UPL Ltd UPLL.NS:

• LISTING OF GLOBAL DEPOSITORY RECEIPTS OF UPL ON NSE IX

Source text: ID:nBSE9NZF3L

Further company coverage: UPLL.NS

((Reuters.Briefs@thomsonreuters.com;))

Jan 19 (Reuters) -

• INDIA'S ADVANTA ENTERPRISES FILES FOR IPO - DRAFT PROSPECTUS

• ADVANTA ENTERPRISES IPO: EXISTING SHAREHOLDERS SELLING UP TO 36.1 MILLION SHARES

Source text: [Full Story]

Further company coverage: UPLL.NS

((Reuters.Briefs@thomsonreuters.com;;))

** Shares of agrochemicals maker UPL UPLL.NS rise 2.3% to 676.40 rupees

** UPL's unit Superform is in advanced talks with PepsiCo PEP.O for a long-term supply partnership, CNBC TV-18 reports, citing sources

** Both companies did not immediately respond to a Reuters request for comment

** 17 analysts have a "buy" rating on UPL on avg; median PT is 750 rupees - data compiled by LSEG

** UPLL up ~35% YTD

(Reporting by Urvi Dugar)

((UrviManoj.Dugar@thomsonreuters.com;))

Aug 1 (Reuters) - UPL Ltd UPLL.NS:

• Q1 CONSOL NET LOSS 880 MILLION RUPEES

• Q1 CONSOL REVENUE FROM OPERATIONS 92.16 BILLION RUPEES

Source text: [ID:]

Further company coverage: UPLL.NS

((Reuters.Briefs@thomsonreuters.com;;))

July 3 (Reuters) - UPL Ltd UPLL.NS:

• UPL - IN EXPORTS, RECOVERY IS PROJECTED IN THE SECOND HALF OF FY26 - ANNUAL REPORT

Source text: [ID:]

Further company coverage: UPLL.NS

((Reuters.Briefs@thomsonreuters.com;;))

June 6 (Reuters) - UPL Ltd UPLL.NS:

• UPL LTD - ADVANTA SEEDS BRAZIL TO SELL SERRA BONITA ASSETS FOR $125 MILLION

Source text: ID:nBSE87V28R

Further company coverage: UPLL.NS

((Reuters.Briefs@thomsonreuters.com;))

** Shares of Indian agrochemicals manufacturer UPL UPLL.NS fall ~5% to 643.15 rupees

** Shares decline despite a massive jump in Q4 profit to 9 billion rupees ($105.53 million) from a low base of 400 million rupees a year earlier which saw discounts and inventory loss due to Chinese overcapacity

** DAM Capital says pricing improvement in global agrochemical industry remains elusive, translating into depressed margins

** Adds, at current valuations, stock offers limited upside

** Elara Capital says UPL's FY26 revenue growth forecast of 4%-8%, similar to FY25 forecast, is "low"

** Adds, with large agrochemical supplies coming from China at low prices, growth will still be volume-led

** Stock rated "buy" on average by 20 analysts, with median PT at 708.5 rupees, per data compiled by LSEG

(Reporting by Ananta Agarwal in Bengaluru)

((Ananta.Agarwal@thomsonreuters.com))

May 12 (Reuters) - UPL Ltd UPLL.NS:

• NAMES BIKASH PRASAD AS GROUP CHIEF FINANCIAL OFFICER

• ANAND VORA TO STEP DOWN AS CFO EFFECTIVE MAY 31, 2025

Further company coverage: UPLL.NS

((Reuters.Briefs@thomsonreuters.com;;))

** Shares of agrochemicals maker UPL UPLL.NS down 2.7% to 669.6 rupees

** China's commerce ministry says the country would impose anti-dumping duties ranging from 48.4% to 166.2% on cypermethrin from India for five years

** UPL is one of the top Indian producers of cypermethrin, an insecticide used in agriculture, sanitation, and pest control

** Heranba Industries HERN.NS, another cypermethrin maker, is trading flat

** UPLL trims YTD gains to ~34%, while HERN is down ~38%

(Reporting by Anuran Sadhu in Bengaluru)

((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))

** Shares of agrochemicals maker UPL UPLL.NS jump 3.7% to 626.2 rupees, eye their biggest one-day gain in nearly four years, if current trend holds

** At least 10 brokerages have hiked price targets on UPL stock following strong Q3 results on Friday, and three raised ratings - LSEG data

** Investec says UPLL reported Q3 EBITDA margin at 19.8%, beating their estimate of 18% on favourable products mix, normalisation of rebate to dealers, improvement in prices

** Brokerage ups PT by ~56% to 700 rupees - a 16% premium on last close; raises rating to "buy" from "sell"

** Jefferies says business normalisation, recovery of volumes and prices drove Q3 growth

** Raises PT by 10% to 710 rupees; retains "buy"

** Over 7.2 mln shares traded, 3.4x the 30-day avg

** UPLL stock rated "buy" on avg, same as peer Dhanuka Agritech DHNP.NS, while Rallis India RALL.NS rated "sell" - LSEG data

** YTD, UPLL stock up ~25%, while DHNP and RALL down 5.3% and ~20%, respectively

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

Jan 31 (Reuters) - UPL Ltd UPLL.NS:

• Q3 CONSOL NET PROFIT 8.28 BILLION RUPEES; IBES PROFIT EST. 2.13 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 109.07 BILLION RUPEES; IBES EST. 108.81 BILLION RUPEES

Source text: ID:nnAPN2LV0K9

Further company coverage: UPLL.NS

((Reuters.Briefs@thomsonreuters.com;;))

** Shares of UPL UPLL.NS rise as much as 3% to 563.25 rupees

** Agrochemicals maker on Tuesday said Alpha Wave Global will invest $350 mln for ~12.5% stake in unit Advanta Enterprises

** Also, UPL on Wednesday said it plans to raise up to 33.78 bln rupees ($400 mln) via rights issue of 9.4 mln shares at 360 rupees/shr

** More than 7.2 mln shares change hands, 3.3x of 30-day avg

** Stock last up 2.8%, cutting YTD loss to 4.3%

($1 = 84.4420 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

((ashish.chandra@thomsonreuters.com (+91 7982114624))

Nov 20 (Reuters) - UPL Ltd UPLL.NS:

• RIGHTS ISSUE PRICE SET AT 360 RUPEES PER SHARE

Source text: ID:nBSE6cjXpR

Further company coverage: UPLL.NS

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Nov 19 (Reuters) - UPL Ltd UPLL.NS:

• UPL LIMITED - INVESTMENT BY ALPHA WAVE IN ADVANTA

• UPL LTD - APPROVES SALE OF 8.93% STAKE IN AEL FOR $250 MILLION

• UPL LTD - APPROVES AEL'S FUNDRAISING OF $100 MILLION FROM ALPHA WAVE

Source text: ID:nRSS8672Ma

Further company coverage: UPLL.NS

((Reuters.Briefs@thomsonreuters.com;))

** Shares of UPL UPLL.NS rise as much as 7.3% to 524 rupees

** Agrochemicals maker said it maintains positive outlook for FY25 and expects growth in margins in H2FY25 despite wider Q2 consol net loss

** Antique Stock Broking says co will benefit from lower inventory and channel destocking costs in H2FY25

** Adds co expects benefits of low-cost raw materials to start flowing in H2FY25, citing management commentary

** Hikes TP on stock to 740 rupees, a ~44% premium on last close, keeps "buy"

** Motilal Oswal keeps TP of 550 rupees, rating at "neutral"

** At least 5 brokerages raised TP on stock post results, while three slashed targets - LSEG data

** UPLL last up 3.7%, trimming YTD losses to 8.5%

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Shares of agrochemicals company UPL UPLL.NS fell as much as 8.5% to 510 rupees, mark sharpest intraday pct loss since Feb. 5

** Stock hits lowest level since June 5

** UPL reports Q2 consol net loss of 4.43 bln rupees ($52.5 mln) vs loss of 1.89 bln rupees year ago

** Analysts on average estimated profit of 466.3 mln rupees - LSEG data

** Revenue from ops rose 9% Y/Y; however, total expenses jumped ~11%

** More than 9.9 mln shares changed hands before market closed, 6.4x of 30-day avg.

** Avg. rating of 22 analysts equivalent of "buy", median PT is 597 rupees - LSEG data

** Stock down 12.3% YTD

($1 = 84.3875 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

((ashish.chandra@thomsonreuters.com (+91 7982114624))

Sept 4 (Reuters) - UPL Ltd UPLL.NS:

• TO EXPLORE VARIOUS OPTIONS OF UNLOCKING VALUE AT ADVANTA ENTERPRISES

• EXPLORING UNLOCKING VALUE IN ADVANTA BY RAISING FUNDS

Source text for Eikon: ID:nBSE4JjJwG

Further company coverage: UPLL.NS

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Sept 3 (Reuters) - UPL Ltd UPLL.NS:

• ACQUISITION OF ADVANTA HOLDINGS (THAILAND) BY UNIT

Source text for Eikon: ID:nNSE1wrrhW

Further company coverage: UPLL.NS

((Reuters.Briefs@thomsonreuters.com;;))

Aug 7 (Reuters) - UPL Ltd UPLL.NS:

• UPDATE ON CLASS ACTION SUIT FILED AGAINST ADVANTA SEEDS IN AUSTRALIA

• HIGH COURT OF AUSTRALIA DECIDED MATTER IN FAVOUR OF ADVANTA

Source text for Eikon: ID:nBSE6hjVnV

Further company coverage: UPLL.NS

((Reuters.Briefs@thomsonreuters.com;))

Aug 2 (Reuters) - UPL Ltd UPLL.NS:

• UPL Q1 CONSOL NET LOSS 3.84 BILLION RUPEES; IBES LOSS EST. 3.48 BILLION RUPEES

• UPL Q1 CONSOL REVENUE FROM OPERATIONS 90.67 BILLION RUPEES; IBES EST. 88.27 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: UPLL.NS

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May 16 (Reuters) - UPL Ltd UPLL.NS:

• INCORPORATION OF A STEP-DOWN SUBSIDIARY IN DUBAI, UNITED ARAB EMIRATES

Source text for Eikon: ID:nNSE9NX5Hm

Further company coverage: UPLL.NS

((Reuters.Briefs@thomsonreuters.com;))

** Shares of Agrochemicals maker UPL UPLL.NS down 5.3% at 505.60 rupees, its biggest intraday fall since Feb. 5

** UPLL top loser in Nifty mid-cap index .NIFMDCP100, which is up 0.6%

** Co reported a slump in Q4 profit, while net debt surged

** Estimate industry headwinds to persist in FY25, Jefferies said in a note

** Brokerage cuts FY26 EPS by ~8%, see profit below tax loss in Q1FY25

** Stock down ~14% YTD vs 8.3% rise in Nifty mid-cap index

(Reporting by Sethuraman NR in Bengaluru)

((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))

BENGALURU, May 13 (Reuters) - Agrochemicals maker UPL UPLL.NS reported a surprise quarterly profit on Monday as revenue fell less than expected amid inventory destocking, sending its shares up 6.4%.

The herbicide and insecticide maker said revenue from operations fell about 15% to 140.78 billion rupees, marking its fourth straight quarter of decline due to inventory destocking and soft demand, but beat Street expectations of 122.39 billion rupees, according to LSEG data.

Volumes recovered compared to the third quarter, largely led by strong sales of the company's high-margin sustainable agriculture portfolio, which contributed to 36% of its crop protection revenue versus 29% last year, UPL said.

That helped UPL post a net profit of 400 million rupees ($4.8 million) for the quarter ended March 31, compared with analysts' expectations of a loss of 3.33 billion rupees. The company reported a profit of 7.92 billion rupees a year ago.

UPL said it expects 4%-8% growth in revenue in fiscal 2025 and earnings before interest, tax, depreciation and amortization (EBITDA) growth of more than 50% for the period.

Agrochemical and fertilizer companies in India, including Coromandel International CORF.NS and SRF SRFL.NS, faced a lackluster fourth quarter, largely due to destocking of inventory - the process of emptying out excess inventory levels following low demand.

Water shortages in southern India also contributed to the overall lack of demand.

"We expect a return to growth and normalization in margins driven by the agchem market returning to normality in fiscal 2025," said Mike Frank, chief executive of UPL Corporation, UPL's Mauritius-based unit.

Analysts are optimistic about the fiscal 2025 outlook for domestic agri-input firms on expectations of a better monsoon and higher nutrient-based subsidy - a government programme that subsidises fertilisers depending on their nutrient content - in the first half of 2025.

($1 = 83.5061 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru; Editing by Janane Venkatraman and Sonia Cheema )

((Yagnoseni.Das@thomsonreuters.com;))

May 1 (Reuters) - UPL Ltd UPLL.NS:

• MANISH SIROHI APPOINTED AS CHIEF EXECUTIVE OFFICER OF DECCO WW

Source text for Eikon: ID:nPre9HWV3a

Further company coverage: UPLL.NS

(Reuters.Briefs@thomsonreuters.com)

** Brokerage HSBC downgrades Tata Chemicals TTCH.NS to "reduce" from "hold", flags weak fundamentals in soda ash segment and elevated valuations

** TTCH ends session ~4% lower, extending declines from Friday

** Expect volume- and pricing-led pressure to impact Q4 results for UPL UPLL.NS and Rallis India RALL.NS, leading to 6%-25% rev declines, brokerage says

** Retains "buy" on UPL, "reduce" on RALL; avg rating on UPLL, RALL, TTCH are "buy", "hold" and "sell" respectively - LSEG

** Adds domestic agri-chem companies likely fared better, "prefers" PI Industries PIIL.NS and Dhanuka Agritech DHNP.NS

** Sector to revive in H2CY24 after "disrupted" 2023, led by lower inventory, stable prices - HSBC

** UPLL, RALL, PIIL, DHNP close down between 1.12%-2.6%

(Reporting by Hritam Mukherjee in Bengaluru)

((Hritam.Mukherjee@thomsonreuters.com;))