Arysta LifeScience Corporation is an agrochemicals and pharmaceuticals company that produces a range of insecticides, fungicides and herbicides as well as a number of products for the healthcare and veterinary medicine markets. With a tradition of independence, analytical rigour and innovation, CRISIL sets the standards in the credit rating business. CRISILs Bank Loan Ratings - process, scale and default recognition, Rating criteria for manufaturing and service sector companies, CRISILs Criteria for rating short term debt, https://www.crisil.com/en/home/our-businesses/ratings/regulatory-disclosures/highlighted-policies.html. We pioneered the concept of credit rating in India in 1987. The agro business is the company's primary source of revenue and includes the manufacture and marketing of conventional agrochemical products, seeds and other agricultural related products. UPL is a US$5 billion global company, with a presence in 130 countries, and over 11,000employees. However, CRISIL alone has the sole right of distribution (whether directly or indirectly) of its rationales for consideration or otherwise through any media including websites, portals etc. Note for Media:This rating rationale is transmitted to you for the sole purpose of dissemination through your newspaper / magazine / agency. Subscribe to the IRAC eConnection to receive our latest news in your inbox. Over 1,10,000 MSMEs have been rated by us. The non-agro segment includes the manufacture and marketing of industrial chemical and other non agricultural related products such as fungicides, herbicides, insecticides, plant growth and regulators, rodenticides, industrial and specialty chemicals, and nutrifeeds. Function: Bioenhancer, Growth Stimulant, Abiotic Stress Mitigator. DINAMIC is Patented, flexible herbicide for sugarcane that effectively provides broad-spectrum weed control with a residual effect, even in dry growing conditions. For details please refer to: https://www.crisil.com/en/home/our-businesses/ratings/regulatory-disclosures/highlighted-policies.htmlCRISILs rating criteria are generally available without charge to the public on the CRISIL public web site, www.crisil.com. Over time, UPL has made several acquisitions, and entered into strategic alliances to diversify its product profile and increase its geographical reach. As the inventory adjustment is non-recurring in nature, further adverse impact on profitability from FY21 is not expected. The new registration includes. CRISIL has reaffirmed its 'CRISIL AA+/Negative/CRISIL A1+' ratings on the bank facilities and debt instruments of UPL Limited (UPL). PILATUS is Combination of plant extracts, fulvic acid, zinc, amino acids and inositol to stimulate seed germination and root development. We may use your contact information, such as your name, address, and email id to fulfil your request and service your account and to provide you with additional information from CRISIL.For further information on CRISILs privacy policy please visit www.crisil.com.DISCLAIMERThis disclaimer forms part of and applies to each credit rating report and/or credit rating rationale that we provide (each a Report). The group has manufacturing units in India, France, the Netherlands, Argentina, the UK, Vietnam, Turkey, Brazil, USA, China, Thailand, Italy, Australia and Columbia.About ArystaArysta is an agrochemical company with almost entire production process outsourced from third parties in various geographies, such as China, Eastern Europe, and India. For latest rating information on any instrument of any company rated by CRISIL you may contact CRISIL RATING DESK at CRISILratingdesk@crisil.com, or at (0091) 1800 267 1301.This Report should not be reproduced or redistributed to any other person or in any form without a prior written consent of CRISIL.All rights reserved @ CRISIL, Rs.1350 Crore Commercial Paper (Enhanced from Rs.1000 Crore), Refer to annexure for Details of Instruments & Bank Facilities. The operating profitability declined to 18.5% in fiscal 2019 from 20.1% in fiscal 2018 mainly due purchase price allocation impact on inventory acquired from Arysta. Carrots are added. This is Arysta LifeSciences 1st transaction in India. [6] The company changed its name to UPL Limited in October 2013. We also pioneered a globally unique rating service for Micro, Small and Medium Enterprises (MSMEs) and significantly extended the accessibility to rating services to a wider market. Mitsui Chemicals Agro, Inc. was established on April 1, 2009, when the Agrochemicals Division of Mitsui Chemicals Inc. (MCI) and Sankyo Agro, Inc. were integrated to enhance corporate value. This includes novel go-to-market models, building in particular on the success in reaching new customers in emerging markets. We have delivered independent opinions, actionable insights, and efficient solutions to over 1,00,000 customers. You can help Wikipedia by expanding it. This article about an Indian company is a stub. As a result, certain business units of CRISIL may have information that is not available to other CRISIL business units. Apart from UPL Ltd, the other key operating companies in the group are United Phosphorus Inc (US), United Phosphorus Ltd (UK), Cerexagri SAS, Icona SA (Argentina), Decco US Post Harvest Inc, and UPL do Brasil Industria e Comercio de SA (Brazil). EVEREST is Patented, selective, post-emergent herbicide for control of green foxtail, wild oats and certain broadleaf weeds in spring wheat, durum and winter wheat. Consequently, reported profit after tax, net worth and ratio computations are adjusted.Please refer Annexure - List of Entities Consolidated, which captures the list of entities considered and their analytical treatment of consolidation. Resistance management for sustainable agriculture and improved public health. Better scale and business synergies are expected to also help improve operating profitability to ~21% over the medium term, benefitting cash generation. Reports with more detail and additional information may be available for subscription at a fee more details about CRISIL ratings are available here: www.crisilratings.com.CRISIL and its affiliates do not act as a fiduciary. The recipients of the Report should rely on their own judgment and take their own professional advice before acting on the Report in any way.CRISIL or its associates may have other commercial transactions with the company/entity.Neither CRISIL nor its affiliates, third party providers, as well as their directors, officers, shareholders, employees or agents (collectively, CRISIL Parties) guarantee the accuracy, completeness or adequacy of the Report, and no CRISIL Party shall have any liability for any errors, omissions, or interruptions therein, regardless of the cause, or for the results obtained from the use of any part of the Report. CRISIL has also instituted several innovations in India in the rating business, including rating municipal bonds, partially guaranteed instruments and microfinance institutions. UPL's financial risk profile is expected to remain adequate over the medium term, despite temporary moderation in credit metrics owing to debt funded acquisition of Arysta. CRISIL follows a moderate integration approach for investment in associates and joint ventures in which UPL has significant influence but not a controlling interest - specifically, CRISIL factors in UPL's share in the profit of these entities and any incremental investment required. SELECT is World-leading, post-emergent graminicide for use in broadleaf crops providing excellent crop safety and consistent control and a key tool in volunteer control and weed resistance management. Arysta LifeScience North America launched Zolera FX Fungicide, a systemic fungicide that delivers broad-spectrum disease control and offersplant health benefits, Arysta LifeScience North America announces the addition of Rico Christensen, Business Unit Head, North America. CRISIL has combined the business and financial risk profiles of UPL and its subsidiaries, as all the companies, collectively referred to as the UPL group, are under a common management and have close operational linkages and fungible cash flows. [5][6], United Phosphorus Limited was established on 29 May 1969. CRISIL is registered in India as a credit rating agency with the Securities and Exchange Board of India (SEBI). As a company that protects food and foliage , they are dedicated to technological innovation in the core business of the research, development, and distribution of agricultural chemicals. Plant Impact was founded in 2003 and is based in Harpenden, United Kingdom. CRISIL PRIVACYCRISIL respects your privacy. A strong track record of growth, culture of innovation and global footprint sets us apart. We have rated over 24,500 large and mid-scale corporates and financial institutions. Christensen will have responsibility for, Canadas Pest Management Regulatory Agency has approved label updatesfor Arysta LifeScience North Americas EVEREST 2.0 Herbicide. We use anonymous data in cookies to understand website usage. Tic A.S. Arysta LifeScience America Inc. ANESA S.A. Arysta LifeScience Management Company, LLC, USA, Arysta LifeScience SPC, LLC, USA Arysta LifeScience India Limited, India, Arysta LifeScience Agriservice Private Limited, India, Arysta LifeScience do Brasil Industria Quimica e Agropecuaria SA, Brasil, Volcano Agrociencia Industria e Comercio de Defensivos Agricolas Ltda, Brasil, Arysta LifeScience Canada BC Inc., Canada, Arysta LifeScience North America, LLC, USA, Arysta LifeScience Benelux SPRL, Belgium, Arysta LifeScience (Mauritius) Ltd, Mauritius, Arysta LifeScience South Africa (Pty) Ltd, South Africa, Arysta Health and Nutrition Sciences Corporation, Japan, Arysta LifeScience Mexico, S.A.de C.V, Mexico, Grupo Bioquimico Mexicano, S.A. de C.V. Mexico, MacDermid Agricultural Solutions Netherlands Cooperatief UA, Netherlands, MacDermid Agricultural Solutions Italy Srl, Netherlands, Dutch Agricultural Investment Partners LLC, USA, Netherlands Agricultural Investment Partners LLC, USA, Arysta LifeScience Bulgaria EOOD, Bulgaria, Arysta LifeScience Technology BY, Netherlands, Arysta LifeScience Netherlands BY, Netherlands, Netherlands Agricultural Technologies CV, Netherlands, Dutch Agricultural Formations CV, Netherlands, Arysta LifeScience Turkey Tarim Urunleri Limited Sirketi, Turkey, Arysta LifeScience Australia Pty Ltd., Australia, MacDermid (Shanghai) Chemical Ltd., China, Arysta LifeScience Ougree Production Sprl, Belgium, Arysta LifeScience Hellas S.A. Plant Protection, Nutrition and Other Related Products and Services,Greece, Arysta LifeScience Switzerland Sarl, Switzerland. UPL Limited, formerly United Phosphorus Limited, is an Indian multinational company that manufactures and markets agrochemicals, industrial chemicals, chemical intermediates, and specialty chemicals, and also offers crop protection solutions. Syngenta AG is a large global Swiss specialized chemicals company which markets seeds and crop protection products. Plant Impact Plc develops and formulates products that realize and enhance crop capacity, enabling growers to improve quality and deliver consistently higher marketable yields. Arysta owns about 800 domestic and foreign patents, and approximately 6,800 product registrations. The Report is not an offer to sell or an offer to purchase or subscribe for any investment in any securities, instruments, facilities or solicitation of any kind or otherwise enter into any deal or transaction with the entity to which the Report pertains. Decca Worldwide Post-Harvest Holdings B.V. United Phosphorus Holding, Brazil B.V UPL, UPL NA Inc. (formerly known as United Phosphorus Inc.). We pioneered the concept of credit rating in India in 1987. Chemical Family: Fulvic Acids, Zinc & Zinc Compounds. BASF is striving to deliver innovative solutions to growers. FOLTRON is Foliar added-value nutrient based on the original association of folcystein and of macro/micro nutrients that helps plants manage abiotic stress. The Report is intended for the jurisdiction of India only. CRISIL has in place a ratings code of conduct and policies for analytical firewalls and for managing conflict of interest. By providing these products, they aim to contribute to a stable supply of crops, help increase food production in response to an increase in the world population, prevent the spread of infectious diseases, and achieve hygienic and healthy lives. United Phosphorus Holdings Cooperatief U.A. These strengths are offset by large working capital requirements and susceptibility to risks inherent in the agrochemical sector. ATONIK is Phenolate-based product that stimulates natural plant processes, allowing the full expression of the plants genetic potential, especially under stress conditions. We rate the entire range of debt instruments, such as, bank loans, certificates of deposit, commercial paper, non-convertible / convertible / partially convertible bonds and debentures, perpetual bonds, bank hybrid capital instruments, asset-backed and mortgage-backed securities, partial guarantees and other structured debt instruments. The UPL group now includes 96 entities. CRISIL is registered in India as a credit rating agency with the Securities and Exchange Board of India (SEBI). February and March 2019) revenue numbers from Arysta acquisition that was not there in corresponding period previous year. CRISIL expects UPL to post a steady revenue growth and maintain margins at 19-20% in the near term.The rating continues to reflect UPL's strong business risk profile supported by solid market position, diverse geographical contribution of revenues, and healthy profitability supported by sound operating efficiencies, leading to sizeable annual cash generation. CRISIL believes the UPL group's business risk profile has improved by the acquisition of Arysta, propelling it to the 5th largest player in the global agrochemical space and 4th largest seed manufacturer. Together with farmers, BASF is helping to safeguard food supplies for a growing world population. The Report should not be the sole or primary basis for any investment decision within the meaning of any law or regulation (including the laws and regulations applicable in the US).Ratings from CRISIL Rating are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities / instruments or to make any investment decisions. FMC Corporation is a diversified chemical company serving agricultural, industrial and consumer markets globally for more than a century with innovative solutions, applications and quality products. CRISIL follows a moderate integration approach for investment in associates and joint ventures in which UPL has significant influence but not a controlling interest - specifically, CRISIL factors in UPL's share in the profit of these entities and any incremental investment required.Goodwill on the acquisition of Arysta is being amortized over a period of 15 years, commencing from fiscal 2019. [7], On 20 July 2018, UPL signed a US$4.2 billion agreement with Platform Specialty Products Corporation (now Element Solutions Inc.) to acquire control of Arysta LifeScience Inc. LTD., Pakistan, Arysta LifeScience Philippines Inc., Phillipines, Arysta LifeScience Asia Pte., Ltd., Singapore, Arysta LifeScience (Thailand) Co., Ltd., Thailand, Arysta LifeScience Vietnam Co., Ltd., Vietnam, Arysta LifeScience Holdings France SAS, France, Natural Plant Protection S.A.S., France, Arysta LifeScience Czech s.r.o., Czechrepublic, Arysta LifeScience Germany GmbH, Germany, Arysta LifeScience Magyarorszag Kft., Hungary, Arysta LifeScience Polska Sp. Albeit, UPL's financial risk profile and credit metrics, will be impacted over the medium term, due to sizeable acquisition related debt, and recover gradually thereafter.Rating Sensitivity FactorsUpwardFactor* Significant growth in revenues with operating margins in excess of ~21%* Gross Debt/EBITDA reducing to below 3.7 times in fiscal 2020 (net debt to EBITDA below 3.2 times) and below 3 times in fiscal 2021, due to better than anticipated cash generation and lower debt levels due to prudent working capital or equity infusion.Downward Factor* Sharp decline in revenue growth and fall in operating profitability to below 17%, impacting cash generation* Further increase in gross debt/EBITDA levels beyond 4 times in fiscal 2020 and above 3.5 times in fiscal 2021, due to lower cash generation or higher debt levels, due to more than anticipated capex and elongation in working capital cycle.About the UPL groupIncorporated in 1969 and promoted by Mr Rajnikant Shroff, UPL manufactures, markets, and distributes crop protection products, intermediates, specialty chemicals, and other industrial chemicals, and undertakes research in these segments. Function: Micronutrient, Abiotic Stress Mitigator, Fertilizers. They bring a global presence, deep knowledge and diverse resources so that farms can flourish, moving the world forward. FES Group is a distributor of agro chemical products. Access or use of this Report does not create a client relationship between CRISIL and the user.We are not aware that any user intends to rely on the Report or of the manner in which a user intends to use the Report. EVITO is Patented broad-spectrum strobilurin fungicide with plant health effects in a variety of crops. UPL Do Brasil - Industria e Comercio de Insumos Agropecuarios S.A. Anning Decco Fine Chemical Co. Limited, UPL Ziraat Ve Kimya Sanayi Ve Ticaret Limited Sirketi, Safepack Products Limited Citrashine (Pty) Ltd, UPL Limited (formerly known as UPL Agro Limited), Decco Gida Tanm ve Zirai Urimler San. For the avoidance of doubt, the term Report includes the information, ratings and other content forming part of the Report. 7-Day Free Trial. Over 1,10,000 MSMEs have been rated by us. CRISIL has established policies and procedures to maintain the confidentiality of certain non-public information received in connection with each analytical process. In July 2018, UPL acquired Arysta LifeScience. Devidayal Industries Ltd. is a manufacturer and distributor of agrochemicals/pesticides. The impact was of Rs 442 cr in Q4-FY19 and Rs 412 cr in Q1-FY20. CRISIL has reaffirmed its 'CRISIL AA+/Negative/CRISIL A1+' ratings on the bank facilities and debt instruments of UPL Limited (UPL).The revenue growth of 26% in FY19 was driven by strong performance in Latin America and due to addition of two months (i.e. The Sumitomo Health & Crop Sciences Sector is engaged in the manufacture and sale of crop protection chemicals, fertilizers, feed additives, household and public hygiene insecticides, and active pharmaceutical ingredients and intermediates. Corteva Agriscience is the only major agriscience company completely dedicated to agriculture. Arysta LifeScience Tirta Indonesia, Indonesia, Arysta LifeScience Pakistan (Pvt.) MCI will continue concentrating resources on the agrochemicals and professional pest management (PPM) businesses, contributing to sustainable agriculture and improved quality of life by providing safe, efficient, and eco-friendly products and services, always adopting the customer perspective. We rate the entire range of debt instruments, such as, bank loans, certificates of deposit, commercial paper, non-convertible / convertible / partially convertible bonds and debentures, perpetual bonds, bank hybrid capital instruments, asset-backed and mortgage-backed securities, partial guarantees and other structured debt instruments. CRISIL assumes no obligation to update its opinions following publication in any form or format although CRISIL may disseminate its opinions and analysis. Arysta LifeScience Global Services Limited, Ireland Arysta LifeScience European Investments Limited, UK, Arysta Lifescience U.K. Holdings Limited, UK, Arysta LifeScience Japan Holdings Goudou Kaisha, Japan, Arysta LifeScience Cameroun SA, Cameroun, Mali Protection Des Cultures (M.P.C.) For more information, visitwww.crisil.com Connect with us: TWITTER | LINKEDIN | YOUTUBE | FACEBOOKAbout CRISIL RatingsCRISIL Ratings is part of CRISIL Limited (CRISIL). You consent to our cookies if you continue to use this website. Arysta LifeScience North America has launchedRancona V RTU seed protectant developed to enhance germination, stimulate growth and improve crop vitality. CRISILs public ratings and analysis as are required to be disclosed under the regulations of the Securities and Exchange Board of India (and other applicable regulations, if any) are made available on its web sites, www.crisil.com (free of charge). Uniphos Industria e Comercio de Produtos Quimicos Ltda. With over six decades of field-proven experience and a reputation for quality, value, attentive service and environmental responsibility, they offer one of the most complete portfolios of crop and non-crop protection products. In no event shall any CRISIL Party be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of any part of the Report even if advised of the possibility of such damages.CRISIL Ratings may receive compensation for its ratings and certain credit-related analyses, normally from issuers or underwriters of the instruments, facilities, securities or from obligors. Plant Health, Nutrients & Soil Management. The new UPL offers an integrated portfolio of both patented and post-patentagricultural solutions for various arable and specialty crops, including biological, cropprotection, seed treatment and post-harvest solutions covering the entire crop valuechain. Try For Free The company has presence in over 100 countries globally. Syngenta, through world-class science, aims to transform the way crops are grown and look beyond yield. Arysta specializes in the development, formulation, registration, marketing and distribution of differentiated crop Protection solutions, including BioSolutions and Seed treatments, for a variety of crops and applications. The rating rationale may be used by you in full or in part without changing the meaning or context thereof but with due credit to CRISIL. We are Indias foremost provider of ratings, data, research, analytics and solutions. This Report does not constitute an offer of services. Albeit, UPL's financial risk profile and credit metrics, will be impacted over the medium term, due to sizeable acquisition related debt, and recover gradually thereafter. BIOZYME is Plant biostimulant obtained from exclusive vegetal sources that increase crop yield and marketable quality with application at flowering and fruiting stage. Arysta LifeScience North America announced Jeff Wheeler has joined the companys North American business unit leadership team in the role, Arysta LifeScience North America plans to launch two new fungicide products for use on corn and soybean crops for the, Best Crop Science, a division ofBest Agro Group,purchasedan agrichemicals manufacturing facility from Chemtura Chemicals India Private Limited, a subsidiary of, Vive Crop Protection and Arysta LifeScience North America willpartner to bring to market Vives patented technology with Arysta LifeScience active, Arysta LifeScience North America recently announced a label addition for PH-D Fungicide: chemigation on carrots in California.
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