Upl Limited · NSE:UPL
Upl — Q1 FY24 Earnings Presentation
16 slides from Upl's earnings presentation, Jul 31, 2023
Slide 1: Exchange filing cover letter for investor presentation
31st July 2023 BSE Limited National Stock Exchange of India Ltd Mumbai Mumbai SCRIP CODE: 512070 SYMBOL: UPL Sub: Investor presentation Dear Sir / Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing the investor presentat
Slide 2: Q1 FY24 Performance Presentation
Q1 FY24 Performance Presentation July 2023
Slide 3: Safe Harbor Statement
Safe Harbor Statement This document contains certain forward-looking statements with respect to the financial condition, results of operations and business of UPL Limited (UPL) and certain of the plans and objectives of UPL with respect to these items. Examples of forward- looking statements include
Slide 4: Q1 FY24 – Maintained Market Share Amid Challenging Conditions
Q1 FY24 – Maintained Market Share Amid Challenging Conditions ₹ 8,963 Cr ₹ 4,098 Cr ₹ 1,593 Cr $3,193 Mn Revenue Contribution EBITDA Net Debt (17%) (13%) (32%) Lower by Price -10%, FX +2%, Margin: 45.7% 198 bps Margin: 17.8% 387 bps $160 Mn Vol -9% • Crop protection business was impacted by industry
Slide 5: UPL Group: Agchem Market Headwinds Impacted Q1; Strong Growth in Seeds
UPL Group: Agchem Market Headwinds Impacted Q1; Strong Growth in Seeds (₹ Crore ) Q1 FY 2024 Q1 FY 2023 YoY% Revenue 8,963 10,821 (17%) Revenue Variance – Q1FY24 vs Q1FY23 Contribution Profit 4,098 4,734 (13%) Volume Price Exchange Contribution Margin 45.7% 43.7% 198 bps SG&A Expenses 2,505 2,392 5%
Slide 6: UPL Corporation: Subdued Q1 Performance in-line with Industry; Expect Recovery in H2
UPL Corporation: Subdued Q1 Performance in-line with Industry; Expect Recovery in H2 (₹ Crore ) Q1 FY 2024 Q1 FY 2023 YoY% Q1FY24 Performance Update Revenue 5,855 7,658 (24%) • Revenue Variance: Volume: -17%, Price: -10%, FX: +3% Contribution Profit 2,105 3,044 (31%) • Significant decline in herbici
Slide 7: UPL Corporation: Growth Impacted Across Regions
UPL Corporation: Growth Impacted Across Regions (₹ crore) Latin America North America Europe Rest of World -15% -56% -19% -10% 3,189 2,708 1,551 1,571 1,264 1,207 1,347 675 Q1FY24 Q1FY23 • Brazil: major mkt. degrowth - • Channel inventory led challenges; • Channel inventory continues to be • Growth
Slide 8: UPL SAS: Delayed Sowing and Price Pressure Impacted Results; Q2 to be much better
UPL SAS: Delayed Sowing and Price Pressure Impacted Results; Q2 to be much better vs Q1 (₹ Crore ) Q1 FY 2024 Q1 FY 2023 YoY% Q1FY24 Performance Update Revenue 1,203 1,395 (14%) • Revenue Variance: Volume: -7% YoY, Price: -7% YoY Contribution Profit 334 441 (24%) • Revenue impacted by delayed Kharif
Slide 9: Advanta: Continued to Deliver Robust Growth with Improved Operating Profitability
Advanta: Continued to Deliver Robust Growth with Improved Operating Profitability (₹ Crore ) Q1 FY 2024 Q1 FY 2023 YoY% Q1 FY24 Performance Update Revenue 1,061 842 26% • Volume: +14%, Price: +9%, FX: +3% Contribution Profit 662 482 38% • Revenue Growth driven by robust traction in following portfol
Slide 10: UPL Specialty Chemicals: Revenue Impacted in-line with Crop Protection Biz; Margins Stable
UPL Specialty Chemicals: Revenue Impacted in-line with Crop Protection Biz; Margins Stable (₹ Crore ) Q1 FY 2024 Q1 FY 2023 YoY% Q1 FY24 Performance Update Revenue 3,112 3,877 (20%) • Decline in revenue primarily on account of slowdown in the Contribution Margin 450 501 (10%) agrochemical as well as
Slide 11: Increase in NWC Primarily due to Reduced Factoring and Lower Payable Days
Increase in NWC Primarily due to Reduced Factoring and Lower Payable Days Q1FY24 Q1FY23 (No. of days) 145 125 128 124 125 127 122 108 Inventory Days Recievable Days Payable Days Net Working Capital Days Q1FY24: 17,711 Cr Q1FY24: 17,589 Cr Q1FY24: 18,055 Cr Q1FY24: 17,245 Cr Q1FY23: 16,920 Cr Q1FY23:
Slide 12: Net Debt Stood at $3.19 Bn as of June'23, Down by $160 Mn vs LY
Net Debt Stood at $3.19 Bn as of June’23, Down by $160 Mn vs LY Gross & Net Debt Position – June 2023 vs June 2022 All figures are in US$ Mn and ₹ Crore Particulars June’23 June’22 Change $3,667 $3,814 ($147) Gross Debt 30,083 30,123 (40) $474 $461 $13 Cash and cash equivalent 3,8892 3,643 246 $3,19
Slide 13: UPL Group - FY24 Revised Guidance
UPL Group - FY24 Revised Guidance Revised Guidance + 1 - 5% + 3 - 7% Revenue Growth EBITDA Growth Old Guidance + 6 - 10% + 8 - 12% Revenue Growth EBITDA Growth Presentation for First Quarter ended 30th June 2023 12
Slide 14: Annexure
ANNEXURE 13
Slide 15: Breakdown of Net Finance Cost – Q1 FY24
Breakdown of Net Finance Cost – Q1 FY24 Net Finance Cost Breakdown (₹ crore) Particulars Q1FY24 Q1FY23 Change Interest on Borrowings 368 215 153 Interest on Leases & Others 287 263 24 Other Financial Charges 37 25 12 NPV – Interest & Finance 125 104 21 Interest Income (66) (57) (9) Total Net Finance
Slide 16: Thank You
eo Thank You