UPL Limited has announced a further investment in its associate entity Sinova Inovacoes Agricolas S.A. through its step-down subsidiary United Phosphorus Holdings Brazil B.V. The company received intimation regarding an agreement for this additional investment, which has been disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Sinova, formerly known as Sinagro Produtos Agropecuarios S.A., is a major reseller of grains and agricultural products with a significant presence in Brazil's Cerrado savanna region. The entity was incorporated and operates exclusively in Brazil. Sinova's audited turnover figures show USD 849.00Mn, USD 417.00Mn, and USD 329.00Mn across recent periods.

Investment Details

The proposed investment involves UPL investing approximately USD 86.70Mn (BRL 450.00Mn) in Sinova. The transaction is classified as a related party transaction since Sinova is an associate company held by UPL Brazil. The promoter, promoter group, and group companies do not have any direct or indirect interest in the acquisition, which is being conducted at arm's length.

Strategic Rationale

The equity infusion is intended to address working capital requirements and reduce debt at Sinova. The associate plays an important role in promoting and reselling UPL products in one of Brazil's main agricultural regions, the Cerrado savanna. Following this investment, Sinova will continue to be classified as an associate under applicable accounting standards, as UPL will not exercise control over the entity.

This strategic investment reinforces UPL's commitment to strengthening its presence in the Brazilian agricultural market through its established distribution network and partnerships in the region.

UPL Limited has submitted its quarterly compliance certificate to stock exchanges, fulfilling regulatory requirements under SEBI's depositories regulations for the quarter ended March 31, 2026.

Regulatory Filing Details

The company filed the certificate under Regulation 74(5) of Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 on April 17, 2026. Company Secretary and Compliance Officer Sandeep Deshmukh submitted the documentation to both BSE Limited and National Stock Exchange of India Ltd.

Registrar Confirmation

MUFG Intime India Private Limited, formerly known as Link Intime India Pvt. Ltd., serves as UPL's Registrar and Share Transfer Agent. The registrar provided confirmation on April 5, 2026, regarding compliance with dematerialisation processes during the quarter.

Ashok Shetty, Sr. Vice President-Corporate Registry at MUFG Intime India, confirmed that:

• Securities received from depository participants for dematerialisation were properly confirmed to depositories
• Security certificates received were mutilated and cancelled after due verification
• Depository names were substituted in the register of members within prescribed timelines
• All securities comprised in certificates have been listed on relevant stock exchanges

Company Information

UPL Limited operates from its registered office at Uniphos House, C.D. Marg, 11th Road, Madhu Park, Khar (West), Mumbai. The company trades on stock exchanges with scrip code 512070 on BSE and symbol UPL on NSE.

Compliance Framework

The quarterly certificate filing ensures adherence to SEBI's regulatory framework governing depositories and participants. This routine compliance demonstrates the company's commitment to maintaining proper securities handling and investor protection standards as mandated by securities market regulations.