Mumbai, November 2, 2026: UPL Limited reported a 5% year-on-year increase in EBITDA to ₹2,312 crore for the second quarter of FY27, with margins expanding by 120 basis points, as operational discipline and reduced SG&A expenses helped offset higher input costs.
Operational PATMI (profit after tax and minority interest, excluding exceptional items) for Q2 stood at ₹422 crore, an increase of ₹11 crore compared to the previous year, driven by higher EBITDA and other income. Net working capital at the end of the quarter was 145 days, up from 118 days last year, amounting to $2.2 billion, primarily due to higher inventory levels. The company said it would focus on improving inventory conversion and cash generation in the second half of the year.
H1 performance and segment growth
For the first half of FY27, UPL Limited posted a 4% rise in revenue to ₹22,041 crore, led by 18% growth in the Advanta segment and a 21% increase in SUPERFORM. Operational PATMI for H1 reached ₹441 crore, up 33% year-on-year, supported by higher EBITDA and other income.
Margin expansion and profitability
The company reported that contribution and EBITDA margins for H1 expanded by 140 basis points and 80 basis points respectively, resulting in absolute growth of 7% and 9% for the period.
Focus on cash generation
UPL Limited stated that it would prioritise improving inventory conversion and enhancing cash generation in the second half of the financial year.
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