Monitoring Agency Report for the quarter ended June 30, 2025
UPL · price
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Awaiting price reaction for this filing.
UPL Limited has submitted the quarterly Monitoring Agency Report for Q1FY26, confirming utilization of proceeds from its December 2024 Rights Issue of ₹3,377.74 crore. CARE Ratings, the appointed Monitoring Agency, reported no deviation from the disclosed objects and no delays in implementation. The company has used ₹1,485.1 crore (about 49%) of the ₹3,008.8 crore earmarked for debt repayment — ₹1,336.1 crore by UPL Limited and ₹149.0 crore by UPL Sustainable Agri Solutions Limited. Additionally, ₹165.5 crore has been deployed for general corporate purposes (₹138.5 crore for vendor payments and ₹27.0 crore for advance tax), and ₹23.1 crore of the ₹31.2 crore allocated for issue expenses has been spent. About ₹8.1 crore remains unutilized in the allotment account, parked as a fixed deposit. All objects are on track for completion by FY27.
This is a routine compliance filing with a clean report — no misuse or diversion of funds, and the company is steadily deleveraging as planned, which is a mildly positive signal for shareholders concerned about UPL's debt levels.