Slide 1: Exchange filing cover letter: Investor presentation
2nd February 2024 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 presen
Slide 2: Q3 FY24 Performance Presentation
Q3 FY24 Performance Presentation February 2024
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: Q3FY24: Market Headwinds Persist, Leading to Underperformance on Guidance
Q3FY24: Market Headwinds Persist, Leading to Underperformance on Guidance ₹ 9,887 Cr ₹ 2,689 Cr ₹ 416 Cr $3,767 Mn Revenue Contribution EBITDA Net Debt (28%) (54%) (86%) Adj. for lower factoring, Volume: -5%, FX +1%, largely in-line with LY Price: -24% Margin: 27.2% 1,540 bps Margin: 4.2% 1,800 bps
Slide 5: UPL Group: Challenging Quarter with Lower Volumes, Pricing Pressure and Higher Rebates
UPL Group: Challenging Quarter with Lower Volumes, Pricing Pressure and Higher Rebates (₹ Crore ) Q3 FY24 Q3 FY23 YoY% 9M FY24 9M FY23 YoY% Q3FY24 vs Q3FY23 Revenue 9,887 13,679 (28%) 29,020 37,007 (22%) EBITDA Variance Revenue Variance Contribution Profit 2,689 5,831 (54%) 10,847 15,889 (32%) Contr
Slide 6: Platform-wise Performance Update – Q3 & 9MFY24
Platform-wise Performance Update – Q3 & 9MFY24 - UPL Corporation - UPL SAS - Advanta Enterprises - UPL Specialty Chemicals
Slide 7: UPL Corporation: Improved Product Mix in 9MFY24, Recovery Expected from Q2FY25
UPL Corporation: Improved Product Mix in 9MFY24, Recovery Expected from Q2FY25 (₹ Crore ) Q3 FY24 Q3 FY23 YoY% 9M FY24 9M FY23 YoY% Revenue Q3FY24 Performance Update 7,413 11,310 (34%) 20,684 28,256 (27%) • Destocking in NAM, EU (low channel demand); ongoing pricing pressure Contribution in post-pat
Slide 8: UPL Corporation: Pricing Pressure, Destocking Impacted Performance in Americas, Europe
UPL Corporation: Pricing Pressure, Destocking Impacted Performance in Americas, Europe Q3FY23 Q3FY24 (₹ crore) Latin America North America Europe Rest of World -30% -67% -46% -5% 5,583 3,890 2,525 2,136 2,035 999 830 535 • Brazil: pricing related challenges in • Continued challenge for post- • Chann
Slide 9: UPL SAS: Sales Realignment Closer to Season, Lower Key Crop Acreage & Glufosinate Demand
UPL SAS: Sales Realignment Closer to Season, Lower Key Crop Acreage & Glufosinate Demand Hit Q3 (₹ Crore ) Q3 FY24 Q3 FY23 YoY% 9M FY24 9M FY23 YoY% Q3FY24 Performance Update Revenue 371 558 (34%) 2,416 3,264 (26%) • Revenue Variance: Volume: -21% YoY, Price: -13% YoY Contribution 43 92 (53%) 522 88
Slide 10: Advanta: Delivered Healthy Growth with Improved Margins in 9MFY24
Advanta: Delivered Healthy Growth with Improved Margins in 9MFY24 (₹ Crore ) Q3 FY24 Q3 FY23 YoY% 9M FY24 9M FY23 YoY% Revenue 898 910 (1%) 3,029 2,724 11% Q3 & 9MFY24 Performance Update • Revenue Variance: Contribution 567 526 8% 1,831 1,539 19% Profit o 9MFY24 up 11% driven by higher prices and vo
Slide 11: UPL Specialty Chemicals: Lower Agchem Demand & Pricing Impacted Revenue; Margins Higher vs LY
UPL Specialty Chemicals: Lower Agchem Demand & Pricing Impacted Revenue; Margins Higher vs LY (₹ Crore ) Q3 FY24 Q3 FY23 YoY% 9M FY24 9M FY23 YoY% Q3 FY24 Performance Update Revenue 2,265 4,139 (45%) 8,934 12,787 (30%) • Agchem Segment Contribution 411 506 (49%) 1,577 1,865 (15%) o Lower demand and
Slide 12: Increase in NWC Primarily due to Reduced Factoring and Lower Payable Days
Increase in NWC Primarily due to Reduced Factoring and Lower Payable Days Dec-22 Dec-23 (No. of days) 155 138 140 133 134 117 118 121 Inventory Days Recievable Days Payable Days Net Working Capital Days Dec 2023: ₹ 17,491 Cr Dec 2023: ₹ 16,629 Cr Dec 2023: ₹ 14,781 Cr Dec 2023: ₹ 19,339 Cr Dec 2022:
Slide 13: Net Debt at $3.77 Bn as of Dec’23; Adj. for Lower Factoring, Net Debt Largely In-line with LY
Net Debt at $3.77 Bn as of Dec’23; Adj. for Lower Factoring, Net Debt Largely In-line with LY Gross & Net Debt Position – Dec 2023 vs Dec 2022 All figures are in US$ Mn and ₹ Crore Particulars Dec’23 Dec’22 Change $4,347 $3,965 $382 Gross Debt ₹ 36,173 ₹ 32,803 ₹ 3,370 $580 $638 ($57) Cash and cash
Slide 14: ANNEXURE
ANNEXURE 13
Slide 15: Breakdown of Net Finance Cost – Q3 FY24 and 9M FY24
Breakdown of Net Finance Cost – Q3 FY24 and 9M FY24 Net Finance Cost Breakdown (₹ crore) Particulars Q3FY24 Q3FY23 Change 9MFY24 9MFY23 Change Interest on Borrowings 594 419 175 1,519 907 612 Interest on Leases & Others 135 188 (53) 603 712 (109) Other Financial Charges 51 43 8 120 118 3 NPV – Inter
Slide 16: Thank You
eo Thank You