UPL Q4 Results: Stock jumps 5% after FY26 guidance beat; Q1 outlook disclosed

Shares of UPL Ltd. surged as much as 5% on Monday, May 11, in response to its March quarter results, which were stronger compared to street expectations on the revenue and the operating profitability front. The company also surpassed its projections for financial year 2026 and disclosed its outlook for the ongoing quarter and not for the full financial year.

UPL In Q4 & FY26 Vs Guidance

UPL reported a net profit of ₹1,061 crore, which is higher by 18.4% from the year-ago quarter, but lower than the CNBC-TV18 poll of ₹1,299 crore.

Revenue figure of ₹18,335 crore was well above the CNBC-TV18 poll estimate of ₹16,776 crore, while Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter increased by 12.7% year-on-year to ₹3,647 crore, also higher than the CNBC-TV18 poll of ₹3,501 crore.

EBITDA margin narrowed by 100 basis points from last year to 19.9%, which is also 100 basis points lower than the CNBC-TV18 poll projection of 20.9%.

FY26 Guidance Beat

For the full financial year, UPL achieved revenue growth of 11%, which is higher than the 4% to 8% they guided for, while EBITDA grew by over 18% compared to the company's growth outlook of 12% to 16%.

On the debt front, the net-debt-to-EBITDA ratio stood at less than 1.6x, in-line with the company's projection of 1.6x to 1.8x.

Q1 FY27 Outlook

For the ongoing quarter, which is the first quarter of financial year 2027, UPL has projected revenue to grow between 10% to 14%, and EBITDA to grow between 14% to 18% from the previous year.

To achieve the same, UPL said that it is scaling up contribution-led topline for quality earnings, increasing plant utilization and spend optimization. The company also continues to monitor cash conversion, continues to reduce gearing while strengthening capital structure at the same time.

Shares of UPL are trading 4% higher after the results announcement on Monday at ₹671.7. The stock is still down 17% on a year-to-date basis.