- Reorganisation to unlock shareholder value, sharpen strategic focus and simplify global structure
- New entity UPL Global to house India and international crop protection businesses under one listed platform
- Move expected to enhance capital flexibility, accelerate innovation and strengthen balance sheet resilience
- Scheme subject to regulatory approvals; completion targeted within 12–15 months
NE BUSINESS NEWS
MUMBAI, FEB 21
In a transformative strategic move set to reshape the global agrochemical landscape, UPL Limited has announced a group reorganisation to create the world’s second-largest listed pure-play crop protection platform, consolidating its India and international crop protection businesses into a single unified entity, UPL Global Sustainable Agri Solutions Limited.
Approved by the company’s Board of Directors, the composite scheme of arrangement aims to unlock shareholder value, simplify group structure, and create two focused listed companies—UPL as a diversified agriculture and specialty chemicals platform, and UPL Global as a dedicated global crop protection powerhouse.
The strategic overhaul will integrate UPL’s India crop protection arm, UPL Sustainable Agri Solutions Limited, and its international crop protection subsidiary, UPL Crop Protection Holdings Limited, into the newly listed UPL Global. The unified entity will leverage UPL’s manufacturing strength, advanced R&D, global product portfolio, and independent leadership to accelerate innovation and market expansion.
Strategic restructuring to create focused global leaders
The reorganisation will be executed through three key steps:
- Amalgamation of UPL Sustainable Agri Solutions Limited into UPL Limited
- Demerger of UPL’s India crop protection business into UPL Global
- Amalgamation of UPL Crop Protection Holdings Limited into UPL Global
This consolidation is expected to deliver sharper strategic clarity, operational synergies, and stronger capital allocation discipline.
The move will also enable both UPL and UPL Global to independently raise capital, optimise financial structures, and pursue growth opportunities aligned with their respective strategic priorities.
Reflecting on the milestone, Jai Shroff, Chairman & Group CEO of UPL, said, “This strategic reorganization is an important milestone in UPL’s long-term transformation journey. The reorganized UPL structure strengthens our ability to build and scale diversified businesses across agriculture and specialty chemicals, while also driving the incubation of next-generation sustainable ventures. By unifying our India and international crop protection businesses under UPL Global, we are creating a future-ready platform with the focus, agility and innovation needed to lead in a rapidly evolving market. This move sharpens strategic focus, aligns stakeholder interests and positions both UPL and UPL Global for disciplined, value-accretive growth in the years ahead.”
Global scale and innovation advantage
UPL Global will operate in over 140 countries, positioning itself among the most influential crop protection companies globally. The integrated platform is designed to accelerate innovation delivery to farmers, improve operational efficiency, and capture greater global market share.
Mike Frank, who will serve as CEO of UPL Global, said, “Bringing our crop protection businesses under one platform creates the world’s second largest listed pure-play crop protection platform. With a presence in more than 140 countries, this unified platform will enable us to deliver innovations to farmers faster, more efficiently to gain greater market share. This will position us to strengthen operational synergies and drive long-term value for our stakeholders.”
Stronger financial foundation and shareholder value creation
The reorganisation is also expected to significantly strengthen UPL’s financial resilience by simplifying the corporate structure, enhancing balance sheet strength, and improving return metrics.
Bikash Prasad, Group CFO of UPL, said, “This structural simplification strengthens our financial foundation and accelerates our journey towards a more efficient and resilient UPL. By driving deleveraging, reinforcing balance sheet strength, and improving return metrics, we are creating a sharper, more focused organization designed to deliver sustainable long-term value for all shareholders.”
Regulatory approvals and advisory support
The scheme is subject to approvals from key regulators, including the Securities and Exchange Board of India, Competition Commission of India, Reserve Bank of India, stock exchanges, and the National Company Law Tribunal, as well as shareholders and creditors.
Completion is expected within 12–15 months, subject to regulatory clearances.
The transaction is being supported by leading financial and legal advisors, including JM Financial Limited and Axis Capital Limited as financial advisors, AZB Partners as legal counsel, and valuation and tax advisory support from Ernst & Young LLP, PwC Business Consulting Services LLP, and J.P. Morgan India Private Limited.
Strategic impact
The restructuring marks a defining step in UPL’s evolution, positioning UPL Global as one of the world’s most influential crop protection platforms while enabling UPL to sharpen its focus on diversified agriculture and specialty chemicals.
By aligning strategic priorities, strengthening financial flexibility, and enhancing operational focus, the company aims to deliver sustained growth and long-term value creation for investors, farmers, and stakeholders worldwide.
