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Agrochemical major UPL Ltd. will hold a board meeting on Wednesday, November 20, to determine further details for its proposed rights issue, it said in an exchange filing on Thursday.
The board will meet on November 20 to determine the rights issue price and related payment mechanism, entitlement ratio of the rights issue, the record date and timing of the rights issue as well.
UPL's board had approved raising ₹4,200 crore through a rights issue in December 2023.
UPL also spoke about the rights issue during its recent earnings release, where it said that it has cut down on the size of the rights issue to $400 million from $500 million earlier, but is yet to receive feedback from the regulator on the same.
Market Regulator SEBI recently approved norms for faster rights issue process, allowing the process to be completed within 23 days of the board meeting approving the rights issue, compared to a current average timeline of 317 days.
UPL reported another net loss during the September quarter but the stock recovered the post-earnings losses after the management maintained its full-year guidance despite the challenges faced by the company.
UPL's management said that it has maintained its 50% growth guidance in its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) and revenue growth to be between 4% and 8% for the year.
The company reported a net loss of ₹443 crore for the September quarter, higher than the loss of ₹189 crore it had reported in the same quarter last year.
For financial year 2026, the company expects volume growth of nearly 5% and growth in every segment, even as pricing pressures continue due to overcapacities in China.
The board will meet on November 20 to determine the rights issue price and related payment mechanism, entitlement ratio of the rights issue, the record date and timing of the rights issue as well.
UPL's board had approved raising ₹4,200 crore through a rights issue in December 2023.
UPL also spoke about the rights issue during its recent earnings release, where it said that it has cut down on the size of the rights issue to $400 million from $500 million earlier, but is yet to receive feedback from the regulator on the same.
Market Regulator SEBI recently approved norms for faster rights issue process, allowing the process to be completed within 23 days of the board meeting approving the rights issue, compared to a current average timeline of 317 days.
UPL reported another net loss during the September quarter but the stock recovered the post-earnings losses after the management maintained its full-year guidance despite the challenges faced by the company.
UPL's management said that it has maintained its 50% growth guidance in its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) and revenue growth to be between 4% and 8% for the year.
The company reported a net loss of ₹443 crore for the September quarter, higher than the loss of ₹189 crore it had reported in the same quarter last year.
For financial year 2026, the company expects volume growth of nearly 5% and growth in every segment, even as pricing pressures continue due to overcapacities in China.
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