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“…it is hereby informed that UPL Limited (company) has received an intimation on 24th February 2025 from its step down subsidiary viz. UPL Global Limited, UK (UPL Global) about further investment in ORIGEO COMERCIO DE PRODUTOS AGROPECUARIOS S.A (Origeo), Brazil, a joint venture entity of the company,” UPL said in a regulatory filing.
Origeo, established on July 29, 2021, provides integrated agricultural solutions, including inputs, services, financing, and technical support for farmers in Brazil. The joint venture is a collaboration between UPL and Bunge, a global agribusiness leader.
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UPL confirmed that this transaction is a related party investment, given its joint venture nature, and was executed through UPL Global. The acquisition has been completed, requiring no additional regulatory approvals. The investment aligns with UPL’s strategic goals in the agribusiness sector.
UPL returned to profitability compared to net loss during the same quarter last year. UPL reported a net profit of ₹828 crore, compared to a net loss of ₹1,217 crore. The company saw lower finance costs during the quarter, along with lower costs of materials consumed, which also contributed to the boost in the bottom line figure.
Revenue for the quarter went up by 10% to ₹10,907 crore, driven by a 9% volume growth, and 5% price growth. This was offset by forex issues, mainly in Brazil. The company’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at ₹2,162 crore from ₹416 crore last year, while the margin expanded to 19.8% from 4.2% last year.
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Shares of UPL Ltd ended at ₹645.00, down by ₹1.35, or 0.21% on the BSE.
