UPL Ltd Share Price – NSE  /  BSE

Agro Chemicals, Small Cap

UPL has incorporated a new step-down subsidiary viz. UPL Speciality Mauritius effective 27 November 2023. The Company is incorporated to carry out and undertake speciality chemicals and related business, upon infusion of share capital in due course.

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UPL has announced the formation of a new step-down subsidiary called Advanta Seeds, effective November 21, 2023. The company is set to engage in seeds and related business activities in Southern Africa following the infusion of share capital. No additional regulatory approvals are necessary for this investment.

Advanta Holdings BV, based in the Netherlands, is planning to invest around $1 million in cash into Advanta Seeds, adhering to local regulations. The entire acquisition consideration will be in cash, and Advanta Holdings BV will be the sole owner of Advanta Seeds.

Advanta Seeds will be a step-down subsidiary under Advanta Enterprises, India, in which UPL holds 86.67% stake. Upon incorporation, Advanta Seeds will be considered a related party. The promoter, promoter group, or group companies have no direct or indirect interest in this acquisition.

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UPL announced the incorporation of a step-down subsidiary - Advanta Seeds Mexico SA DE CV (“Advanta Seeds Mexico”) effective 26th October 2023.

Advanta Seeds Mexico would be a step-down subsidiary at Advanta Seed structure under Advanta Enterprises, India in which the Company holds 86.67%. It becomes a related party upon incorporation.

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Net loss of UPL reported to Rs 189.00 crore in the quarter ended September 2023 as against net profit of Rs 814.00 crore during the previous quarter ended September 2022. Sales declined 18.69% to Rs 10170.00 crore in the quarter ended September 2023 as against Rs 12507.00 crore during the previous quarter ended September 2022.

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