On a consolidated basis, UPL's net profit surged 73.6% to Rs 1,361 crore on 14.86% jump in revenue from operations to Rs 12,796 crore in Q4 FY21 over Q4 FY20.
The Q4 FY21 revenues rose on the back of 18% Y-o-Y (year-on-year) volume growth and price increase of 1%. Profit before tax soared 69.14% to Rs 1,683 crore in Q4 March 2021 as against Rs 995 crore in Q4 March 2020.
EBITDA spurted 31% to Rs 2,839 crore in Q4 FY21 as against Rs 2,169 crore in Q4 FY20. EBITDA margin improved to 22.2% in Q4 FY21 compared with 19.5% in Q4 FY20 due to strong margins and cost synergies.
On an annual basis, the company's net profit climbed 60.46% to Rs 3,495 crore on 8.21% rise in revenue from operations to Rs 38,694 crore in FY21 over FY20.
Commenting on the Q4 results, Jai Shroff, the chief executive officer (CEO) of UPL, said: "2020 was certainly a challenging year for each one of us, and the world as a whole. Despite being an incredibly tough year, UPL delivered growth through continuously innovating and transforming, and adapting to the constantly changing situation as best it can. Our financial performance in FY2021 has demonstrated the resilience of our model in COVID times. Despite the situation, we have delivered on our stated commitments of Revenue and EBITDA."
"UPL is focused on driving sustainable agriculture and achieving transformational growth through innovative technology, as we tap new growth markets and opportunities. We aim to lead the agri- solutions space through differentiated products, bio-solutions, digitization and collaborations across the food value chain," he added.
Revenues in India rose 23% to Rs 851 crore in Q4 March 2021 over Q4 March 2020. Revenue growth in Latin America jumped 40%, supported by the catch-up of a delayed season in Brazil. However,the depreciation in the Brazilian Real more than off-set the volume and price increases.
Europe continued to maintain strong volume growth. Revenue in the region grew 17% YoY in Q4 FY21.
The sales from North America was impacted due to supply constraints. Asia registered a strong growth while the AMEANZ region was flat over last year.
During the year, the company reduced the gross debt by Rs 5,039 crore and net debt by Rs 3,140 crore. The gross debt and net debt as at 31 March 2021 was Rs 23,774 crore and Rs 18,922 crore, respectively.
The board has recommended a dividend of Rs 10 per equity share.
UPL is a global provider of sustainable agriculture products & solutions. Through OpenAg, UPL is focused on facilitating progress for the entire agricultural value chain.
Shares of UPL gained 1.10% to close at Rs 691.60 on BSE. The scrip traded between Rs 680.75 to Rs 702.15 so far during the day.
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