Please find enclosed letter dated May 11, 2026.

Pat Growth 25pctExceptional ItemResults RestatedNegative Operating CashflowResults View source PDF Explain this filing

UPL · price

Loading chart…

▲ 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

₹659.30

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

+0.0

10m

+1.1

15m

+2.7

30m

+1.4

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 FY2026 consolidated revenue of Rs. 51,839 Crores, up 11.1% from Rs. 46,637 Crores in FY2025. Profit after tax surged 170.7% to Rs. 2,220 Crores from Rs. 820 Crores, driven by improved margins and a one-time tax reversal of Rs. 592 Crores following a favorable appellate order. The company completed its Rs. 1,700 Crores rights issue (second call/final call) and recommended dividend of Rs. 6 per share (300%). Exceptional items included restructuring costs (Rs. 131 Crores), new labour codes impact (Rs. 59 Crores), partially offset by VAT disallowance reversal (Rs. 251 Crores gain from Brazilian Supreme Court ruling). The auditor issued an unmodified (clean) opinion. A composite scheme of arrangement involving UPL SAS amalgamation and demerger is pending regulatory approvals.

Likely market impact

Strong PAT recovery and cash raise position the company well, though the operating cash outflow of Rs. 2,557 Crores warrants monitoring. The pending restructuring scheme may create near-term uncertainty.