UPL Q1 FY27 Guidance vs Delivery (UPL Management Mirror)

Q1 FY27 Revenue Grows 10.5% Against 10-14% Prior Guidance; Full-Year FY27 Target Set at 7-11% Growth Amid Volatile Weather

In the Dec'25 Qtr concall, management reaffirmed its full-year FY26 guidance of 4% to 8% YoY revenue growth and 12% to 16% YoY EBITDA growth. In the Mar'26 Qtr concall, FY26 reported revenue grew 11% and EBITDA grew 18% YoY, outperforming the prior identical-period guidance. Concurrently, management initiated Q1 FY27 guidance of 10% to 14% revenue growth and 14% to 18% EBITDA growth. In the Jun'26 Qtr Quarterly Financial Results, Q1 FY27 reported actuals showed revenue of INR 10,181 crore (+10.5% YoY) and EBITDA of INR 1,450 crore (+3.9% YoY). The Jun'26 Qtr concall reported Q1 FY27 revenue growth of 10% and EBITDA growth of 15% (EBITDA of INR 1,500 crore). Management subsequently initiated full-year FY27 guidance for revenue growth of 7% to 11% and EBITDA growth of 10% to 14%, based on constant currency rates and noting caution due to geopolitical uncertainties in West Asia and volatile weather conditions.