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• UPL Limited has published a notice regarding the transfer of shares for which dividend has not been claimed for seven consecutive years to the Investor Education and Protection Fund (IEPF).
• This action is pursuant to the Companies Act, 2013 and IEPF rules.
• The notice pertains to shares for which dividends have not been encashed or claimed since the year 2017-18.
• Shareholders are requested to claim their dividend amounts by 31st August 2025.
• To claim, shareholders need to apply to the Company's Registrar, MUFG Intime India Pvt. Ltd., providing necessary details and KYC documents.
• If the claim is not received by the specified date, the shares will be transferred to IEPF, and any subsequent claims must be made directly to IEPF.

• Nerka Chemicals Private Limited, a promoter of UPL Limited, has declared its shareholding along with the promoter group and persons acting in concert, as per Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
• As on 31st March 2025, they collectively held 28,29,09,708 equity shares of UPL Limited.
• This total includes 1,47,71,012 Global Depository Receipts (GDRs), which represent 2,95,42,024 underlying equity shares of the company.
• It was further declared that no equity shares were encumbered (pledged) as of 31st March 2025.

UPL Limited announced the cessation of Serra Bonita Sementes S.A., an associate company in Brazil, due to liquidation.

• UPL holds a 33% stake in Serra Bonita through its step-down subsidiary Advanta Comércio de Sementes Ltda, Brazil.
• Serra Bonita, which produces high-quality seeds, entered into an agreement on June 5, 2025, to sell its entire assets.
• The total consideration from this asset sale is USD 125 million (approximately ₹1,041.25 crore), which will be distributed to its shareholders, including Advanta Brazil.
• Following the distribution of these proceeds, Serra Bonita will be liquidated and will cease to be an associate company of UPL.
• Serra Bonita's Revenue from Operations for the financial year ended December 31, 2024, was ₹441 crore.
• Its net worth as of December 31, 2024, was ₹197 crore, constituting 0.67% of UPL's consolidated net worth as of March 31, 2025.
• The transaction related to the distribution of proceeds is expected to be completed on or before December 31, 2025.
• The buyers of the assets are JOSÉ PAULO ROCHETO and TRÊS MARIAS AGRO LTDA, neither of whom belong to UPL's promoter/promoter group. The transaction is not a related party transaction.

On June 04, 2025, Fitch Ratings revised the Long-Term Issuer Default Rating (IDR) outlook on UPL Corporation Limited ("UPL Corp"), a wholly-owned subsidiary of UPL Limited, from “Negative” to “Stable”. Fitch also affirmed UPL Corp's IDR at 'BB' and its senior unsecured rating and notes at 'BB'.

This outlook revision is attributed to an improvement in UPL Limited's financial profile.

Key factors contributing to the improved financial profile and future expectations include:

• Significant deleveraging in the financial year ended March 2025 (FY25), supported by healthy EBITDA recovery, a shorter working-capital cycle, USD350 million (₹2,923.2 crore) from the sale of a stake in the seeds business, and around USD200 million (₹1,670.4 crore) from rights issue proceeds.
• Fitch estimates UPL's FY26 EBITDA leverage will improve to 4.1x (from 5.2x in FY25) and EBITDA interest coverage will rise to 2.8x (from 2.1x in FY25).
• UPL is expected to utilize a portion of its cash balance from end-FY25 to repay debt.
• Further equity proceeds of USD200 million (₹1,670.4 crore) are incorporated for FY26 from the ongoing rights issue.
• Fitch forecasts UPL's FY26 adjusted EBITDA to grow by 13% to approximately ₹8,200 crore, with the margin expanding to 16%-17% during FY26-27 (from 15.5% in FY25).
• The FY25 EBITDA margin increased by 5 percentage points to 15.5%, driven by an improved product mix and reduced production and purchase costs.

Despite these improvements, Fitch believes UPL's revenue growth and margin rebound in the next three years will be constrained by slow product price recovery due to prevailing manufacturing overcapacity in China. The EBITDA margin is unlikely to return to pre-FY24 levels of 19-20% within this period.

UPL maintains a robust market position as the world's largest company focused on the post-patent crop-protection market segment, boasting a well-diversified product portfolio, extensive geographical presence, and significant backward integration.

The company exhibits adequate liquidity, with estimated readily available cash of ₹8,900 crore at FYE25, undrawn short-term bank facilities of ₹15,900 crore, and over ₹1,600 crore from rights issue proceeds expected in FY26.

UPL redeemed USD400 million (₹3,340.8 crore) of subordinated perpetual capital securities in May 2025 and is expected to be able to repay the ₹4,300 crore term loan due in March 2026.