Link: https://links.sgx.com/1.0.0/corporate-announcements/AEKFDWJ8CSA4A3IY/218f9e710ca075820f94a7a8469a213fb21458845f3664699277c8f8ee5db93b

Summary:

• Q2 FY2026 revenue rose 8% year-on-year to ₹12,019 crore; EBITDA up 40% to ₹2,205 crore, with EBITDA margin expanded by 410 bps to 18.3%.

• H1 FY2026 revenue climbed 5% to ₹21,235 crore, EBITDA surged 29% to ₹3,508 crore; PATMI (Profit After Tax & Minority Interest) improved by approximately ₹1,000 crore for Q2 and ₹1,300 crore for H1 versus last year.

• Contribution margin hit a record 41.9% in Q2 and 42.6% in H1, driven by higher volumes, favorable FX, better mix, and lower input costs; North America (+63%) and Latin America (+13%) led regional growth.

• Net debt reduced substantially by ₹3,729 crore to ₹23,802 crore, improving net debt/EBITDA ratio from 5.4x to 2.7x and net debt/equity from 0.9x to 0.6x year-on-year.

• Advanta and UPL Corp outperformed, with Advanta revenue up 26% and EBITDA margin rising by 510 bps; seeds, herbicides, and fungicides propelled growth.

• Management upgraded full-year FY2026 EBITDA guidance to 12–16% growth over last year, reflecting continued operational excellence and strong risk management.