UPL (UPL) Investor presentation summary

Strategic transformation and business focus

• Undertaking a major group reorganization to create a pure-play, listed crop protection company by merging India and international crop protection businesses into UPL Global, enhancing strategic focus and scalability.

• Building on a resilient core with diversified global presence, strong innovation, and leading positions in crop protection, seeds, and biosolutions.

• Focused on value creation through simplification, deleveraging, and unlocking intrinsic shareholder value at the platform level.

• Advancing operational excellence, customer centricity, and leveraging backward-integrated manufacturing for cost leadership.

• UPL Limited will remain the strategic and operating parent, incubating and scaling new businesses with centralized capabilities.

Financial performance and deleveraging

• Delivered strong financial performance despite sector headwinds, with FY24 revenue at ₹49,077 crore and EBITDA margin of 12.8%.

• Net debt to EBITDA ratio reduced from 4.6x in FY24 to a target of 1.6x–1.8x by FY26, supported by internal cash generation and monetization opportunities.

• Pro-forma financials for UPL Global show consistent revenue and EBITDA growth, with further deleveraging expected post-listing.

• Multiple levers identified for further balance sheet strengthening, including proceeds from Advanta OFS, SUPERFORM capital raise, and dividends from platforms.

Market positioning and growth strategy

• Positioned as the world’s #2 and India’s #1 pure-play listed crop protection company by FY25 pro-forma revenue.

• Global crop protection market expected to grow, with post-patent and bio-solutions segments outpacing the overall market.

• Strategy leverages supply chain strengths, innovation, and operational efficiency to capture market share and deliver sustainable growth.

• Focus on quality growth, with superior EBITDA growth compared to global peers.