Please find attached letter dated 12th May 2025
Awaiting price reaction for this filing.
UPL Limited announced audited consolidated and standalone financial results for Q4 and FY ended March 31, 2025, with statutory auditor B S R & Co. LLP issuing an unmodified opinion. Consolidated revenue from operations grew ~8.2% YoY to Rs. 46,637 crores in FY25, while the company swung from a net loss of Rs. 1,878 crores in FY24 to a net profit of Rs. 820 crores in FY25 (EPS Rs. 9.85 vs. loss of Rs. 17.45), aided by exceptional items charge of Rs. 408 crores. Q4 FY25 revenue rose ~10.6% YoY to Rs. 15,573 crores with PAT of Rs. 1,079 crores against a loss of Rs. 80 crores in Q4 FY24. Operating cash flow surged to Rs. 10,151 crores from Rs. 2,321 crores, non-current borrowings fell to Rs. 18,263 crores, and debt-equity improved to 0.63x from 0.87x. The Board recommended a 300% dividend (Rs. 6 per share on Rs. 2 face value), subject to shareholder approval.
The sharp turnaround in profitability, strong operating cash generation, meaningful debt reduction, and a healthy dividend are positive signals for shareholders. Investors should view the clean audit and broad-based margin recovery favourably, though continuing losses from associates/JVs (Rs. 472 cr share) remain a watch point.