Please find enclosed letter dated May 11, 2026.

Pat Growth 25pctNegative Operating CashflowExceptional ItemResults View source PDF Explain this filing

UPL · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+3.8%Reaction day

₹644.50

prior close

₹659.00

announcement price

In-mkt

timing

Nifty Midcap 150market · index membership as recorded later (tracked since Jun 2026)-1.1%+4.9% vs market

Pesticides & Agrochemicals peers, median of 28sector-1.6%+5.4% vs sector

On the reaction day the stock moved 4.9 pts more than Nifty Midcap 150 and 5.4 pts more than its Pesticides & Agrochemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+1.1

10m

+2.8

15m

+2.0

30m

+0.8

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+3.8-1.1+4.9-1.6+5.4

Next day

-2.7-3.6+0.9-3.9+1.2

-1.8-3.0+1.2-3.8+2.0

-1.1-1.8+0.7-4.0+2.9

-1.9-2.3+0.3-5.1+3.2

-0.7-2.5+1.8-6.2+5.5

-1.2-1.4+0.2-5.9+4.7

15d

-0.2-2.0+1.8-8.8+8.5

-7.7-4.6-3.1-8.6+0.9

-8.3+1.7-10.0-5.6-2.7

-11.8+3.0-14.8-2.9-8.9

UpDownMarket · Nifty Midcap 150Sector · Pesticides & Agrochemicals peers, median of 28Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

UPL Limited reported audited consolidated financial results for the year ended March 31, 2026. Revenue from operations grew to Rs. 51,839 crores from Rs. 46,637 crores in the previous year, representing approximately 11% revenue growth. Profit after tax more than doubled to Rs. 2,220 crores from Rs. 820 crores in FY2025, driven by improved operational performance and lower finance costs. The company reported net cash outflows of Rs. 2,557 crores for the year. The Board recommended a dividend of 300% (Rs. 6 per equity share of Rs. 2 face value). Statutory auditors BSR & Co. LLP issued an unmodified (clean) audit report. The Group operates across 169 subsidiaries, 17 associates, and 7 joint ventures globally.

Likely market impact

Strong profitability growth with PAT increasing over 170% year-on-year is positive for shareholders. However, significant net cash outflows of Rs. 2,557 crores despite higher profits raises concerns about cash conversion quality. The clean audit opinion and dividend recommendation provide investor confidence.