UPL Ltd for the quarter ended March, reported consolidated net profit of 792 crore, down 42.6% year-on-year (YoY). The company in Q4FY22 posted a consolidated net profit of 1,379 crore. The board of directors declared a dividend of 10 per equity share, representing a 500% payout to its shareholders, on equity shares with a face value of 2. “The dividend will be paid / dispatched within 30 days of the Annual General Meeting," said the company in an exchange filing. The company's consolidated revenue from operations rose by 4.5% to 16,569 crore from 15,861 crore during the same quarter previous fiscal (Q4FY22). According to the company's exchange filing, the quarter was adversely affected by a sharp drop in product pricing and delays in planting season, which created challenges for product placements. Better product realisations, a favourable currency impact, and steady volumes drove a 16% YoY increase in revenue for FY23 to 53,576 crore. The company said that Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) for the quarter ended March, was down 16% on year to 3,033 crore from 3,591 crore. "FY23 EBITDA grew by 10% YoY to INR 11,178 crore as against 10,165 crore in FY22. EBITDA margins were lower mainly due to weaker-than-expected performance in Q4 impacted by headwinds in the post-patent space, which offset the healthy performance delivered during the first nine months," said the company in an exchange filing. The company garnered healthy cash flows throughout the year, which it used to reduce balance sheet leverage and return cash to shareholders. The gross debt was lowered by $617 million and the total debt by US$ 440 million. “We delivered a resilient set of results for FY23 despite facing significant headwinds in the final quarter.In-line with our priority of creating shareholder value, we created distinct pure play platforms during the year to bring in enhanced focus and operational freedom to pursue independent growth strategies thereby unleashing the growth potential of each of our distinct platforms. Going forward, as we look ahead to FY24, we are well-positioned to deal with the market headwinds and deliver better profitability growth. In the longer-term, we remain confident of achieving our growth ambitions and transforming the food value chain with emphasis on sustainability," said Jai Shroff, Chairman and Group CEO of the company in a press release. Following the Q4FY23 earnings, shares of the company fell over 1.5% and eventually recovered. The stock opened at 715.05 apiece on BSE. During Monday's session, the stock hit a intraday high of 724.75 and low of 701 on BSE. “Volumes has spiked up but now major traction in price move, stock remains in a rang somewhere 680 is support whereas 750 resistance," said Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One. At 14:41, the shares of the company trading at 719.25, up 0.64% on BSE.