UPL Shares Soar 7% As Net Profits Jump 72%

Shares in UPL jumped almost 7%, after Q4FY21 net rose 72% to Rs 1,065crores. The full year net profits jumped 62% to Rs 2,872 crores.

The shares were last seen trading at Rs 738, up 6.75 in trade. Q4 Revenue of the company from operations increased 15%, to Rs. 12,797 crores on a volume growth 18% and price increase of 1%.

Commenting on the results Mr. Jai Shroff, CEO - UPL Ltd., said "2020 was certainly a challenging year for each one of us, and the world as a whole. Despite being an incredibly tough year, UPL delivered growth through continuously innovating and transforming, and adapting to the constantly changing situation as best it can. Our financial performance in FY2021 has demonstrated the resilience of our model in COVID times. Despite the situation, we have delivered on our stated commitments of Revenue and EBITDA" Mr. Shroff further added, "UPL is focused on driving sustainable agriculture and achieving transformational growth through innovat ive technology, as we tap new growth markets and opportunities. We aim to lead theagri- solutions space through differentiated products, bio-solutions, digitization and collaborations across the food value chain.

During the year, the company continued to deliver on its commitment to deleverage the company's balance sheet and reduced the Gross Debt by 5,039 cr. and Net Debt by Rs 3,140 cr. The Gross Debt and Net Debt as at 31st March 2021 was Rs 23,774 cr. and Rs 18,922 cr., respectively.