UPL Strategic Reorganisation: Creation of Global Crop Protection Leader **UPL Limited** has officially approved a composite scheme of arrangement to bifurcate its operations into two distinct, publicly traded entities. This move aims to separate the diversified chemicals business from the core crop protection segment. The cornerstone of this plan is the creation of **UPL Global Sustainable Agri Solutions** (UPL Global). This new entity will consolidate the group’s India and international crop protection businesses into a single, pure-play platform. Market Position and Scale Upon completion, **UPL Global** is projected to become the world's **second-largest** listed pure-play crop protection company. The consolidation integrates research, manufacturing, and a massive global distribution network under a unified management structure. The global agrochemicals market is currently valued at approximately **$251.4 billion** for **2026**. Experts forecast a steady growth rate of **4.7% CAGR** through **2033**, driven by increasing food security needs and the rise of sustainable bio-solutions. Financial Performance and Valuation UPL recently reported a strong third quarter for **2026**, with revenue climbing **12%** to **₹12,269 crore**. Net profit witnessed a significant surge of **45%**, reaching **₹452 crore**. The company has aggressively reduced its financial leverage, cutting net debt by **₹2,553 crore** during the quarter. This deleveraging effort brings the total net debt down to **₹23,317 crore**, improving the group's credit profile and capital flexibility. Shareholder Structure and Timeline As of **February 20, 2026**, UPL shares closed at **₹751.50**. Under the proposed restructuring: * Promoters will hold **33.1%** in the existing UPL Limited. * Promoters will hold a higher **71.6%** stake in the new **UPL Global**. * Public shareholders will own **28.4%** of the new crop protection entity. Promoters have voluntarily committed to an **18-month** shareholding lock-in from the listing date to signal long-term confidence. The first phase of the merger is scheduled for **April 1, 2026**, with the entire process expected to conclude within **12 to 15 months**. Strategic Objectives The separation is designed to provide investors with a choice between a high-growth, focused crop protection platform and a diversified specialty chemicals business. This structure allows each entity to raise capital independently and optimize operations for their specific market dynamics. **UPL Global** will focus on high-demand segments such as herbicides and fungicides, which currently dominate nearly **40%** of the global market share.