Mumbai: Agrochemicals giant UPL Limited on Thursday informed stock exchanges that it has moved to take full control of its subsidiary, UPL Agro Limited. The transaction, executed through its Hong Kong-based arm, marks the final step in a multi-year consolidation of its Chinese operations.
The acquisition of the balance 25% stake was completed on January 8, 2026, for a total cash consideration of USD 17.86 million. Following this transaction, UPL Agro Limited becomes a wholly owned subsidiary of UPL Limited, Hongkong.
This move also results in 100% indirect ownership of Yoloo (Laoting) Biotechnology Limited, a wholly owned subsidiary of UPL Agro based in China. Yoloo (Laoting) is a key player in UPL’s regional strategy, specializing in the manufacturing, distribution, and commercialization of crop protection products within the Chinese domestic market.
UPL has been progressively strengthening its “OpenAg” network, and the full integration of its Chinese assets is seen as a move to streamline operations in one of the world’s largest food-producing nations.
China Focus: Yoloo (Laoting) provides UPL with a vital formulation facility and a distribution network of over 1,200 contacts in China.
Operational Control: Moving from a 75% to 100% holding allows for smoother decision-making and better integration with UPL’s global supply chain.
Financial Health: UPL Agro Limited has shown consistent performance, with consolidated revenue reaching USD 91.55 million in the fiscal year ending March 2025, up from USD 73.18 million in 2024.