UPL shares jump 8%; brokerages view Q1 results as "decent" start to FY26

UPL shares gained 7.6 per cent in trade, logging an intra-day high at ₹715.75 per share on BSE after posting its Q1 results

UPL shares gained 7.6 per cent in trade on Monday, August 4, 2025, logging an intra-day high at ₹715.75 per share on BSE. At 9:43 AM, UPL share price was up 6.89 per cent at ₹710.55 per share. In comparison, BSE Sensex was 0.25 per cent higher at 80,801.35. 

 

UPL released its Q1 results on Friday, during market hours. Post the release, the stock closed 5.4 per cent lower at ₹664.75 per share as the company's financial statement showed that its net debt increased to ₹21,371 crore, as compared to ₹13,858 crore in Q4FY25. 

UPL Q1 results

In Q1, UPL's net loss stood at ₹88 crore, year-on-year (Y-o-Y) from ₹384 crore a year ago. The company's revenue from operations grew 1.6 per cent to ₹9,216 crore from ₹9,067  crore a year ago. 

 

 

The Earnings before interest, tax, depreciation and amortisation (Ebitda) stood at ₹1,303 crore, as compared to ₹1,145 crore a year ago. Its Ebitda margin was at 14.1 per cent, as against 12.6 per cent.   Check List of Q1 results today

UPL management guidance

The company reaffirmed its FY26 targets: Revenue growth 4–8 per cent and Ebitda growth 10–14 per cent. 

 

Full-year effective tax rate is guided at 15–17 per cent, subject to mix and capex ramping toward new molecules ($130 million incremental revenue expected in H2); acquisitions under evaluation, with focus on deleveraging.

UPL Q1 results analysis: Brokerages' view

Brokerages believe the UPL has made a decent start to FY26, even when pricing pressure persisted globally. 

 

Motilal Oswal | Neutral | Target: ₹700

Analysts believe UPL is on track to accelerate growth from H2FY26 onwards, driven by strong prospects in the Super Specialty Chemicals (SSC) segment (within Superform), new product launches, and increased investments by Advanta (for new market entries).

 

Nuvama Institutional Equities | Buy | Target raised to ₹808 from ₹781

The brokerage believes UPL’s reaffirmation of its FY26 guidance is credible, with a better recovery in H2FY26. The worst of the inventory and pricing pressure is behind.

 

Antique Stock Broking | Buy | Target raised to ₹730 from ₹710

The brokerage is upbeat on UPL as the management guidance was intact and it plans to hike prices of key products to aid margin recovery, according to reports.