Please find attached the letter dated 12th May 2025
Awaiting price reaction for this filing.
UPL Limited reported a strong turnaround for FY25 with consolidated revenue from operations rising 8.2% year-on-year to Rs. 46,637 crore (vs Rs. 43,098 crore in FY24). The company swung from a net loss of Rs. 1,878 crore in FY24 to a net profit of Rs. 820 crore in FY25, with Q4 FY25 PAT at Rs. 1,079 crore versus a loss of Rs. 80 crore in Q4 FY24. Q4 revenue grew ~10.6% YoY to Rs. 15,573 crore, driven by the Crop Protection segment. Operating cash flow jumped sharply from Rs. 1,822 crore to Rs. 10,074 crore, while net borrowings were reduced, improving the debt-equity ratio to 0.63x from 0.93x. The Board recommended a 300% dividend (Rs. 6 per share on Rs. 2 face value), and statutory auditors B S R & Co. LLP issued an unmodified (clean) audit opinion.
This is a clearly positive filing — a clean audit, a return to profitability after FY24's heavy losses, strong cash generation, debt reduction, and a healthy dividend signal improved financial health and may support the stock price.