1. India Stocks

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    Basic Materials

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    Agricultural Inputs
UPL Limited

UPL Limited

UPL.NS
UPL LimitedIN flagNational Stock Exchange of India
646.05
INR
+4.40
- -
545.38BMarket Cap
UPL Limited
UPL.NS
(National Stock Exchange of India)

Recent

price

646.05

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
81.31
104.98
128.1
154.8
178.81
174.99
203.37
215.69
271.46
445.43
482.33
577.16
679.03
556.48
502.24
602
570.91
Revenue per Share
8.3
8.24
10.49
13.81
17.07
11.86
21.78
25.44
18.72
22.3
36.04
45.52
45.62
-15.68
9.66
22.32
14.56
Basic EPS, GAAP
1.49
-5.63
24.02
12.55
8.44
4.82
16.72
17.94
9.81
84.86
63.9
47.81
68.89
4.26
91.06
63.28
- -
Free Cash Flow per Basic Share
1.25
1.27
1.62
1.6
2.55
2.69
2.67
4.49
5.11
5.11
5.75
9.59
9.58
9.78
0.83
5.55
- -
Dividend per Share
24.89
14.4
23.23
33.4
31.81
36.14
55.55
75.87
156.34
178.57
160.97
195.2
261.87
239.57
226.44
1.96
- -
Book Value per Share
34.32
31.71
36.47
45.64
53.44
52.82
70.64
93.07
-125.29
-94.23
-53.45
-1.53
53.23
19.58
67.22
79.92
- -
Tangible Book Value per Share
700
722
707
688
670
793
793
795
796
796
797
797
782
766
929
861
819
Basic Weighted Avg Shares
56,934
75,808
90,614
106,502
119,845
138,710
161,240
171,410
216,210
354,780
384,180
459,710
531,340
425,990
466,370
518,390
467,860
Sales/Revenue/Turnover
15.26
14.6
14.53
15.81
16.17
14.17
15.95
16.73
14.77
14.56
16.84
16.97
16.47
6.69
12.03
13.68
12.4
Operating Margin (%)
2,138
2,924
3,537
4,069
4,245
6,760
6,720
6,750
8,800
20,120
21,730
23,590
25,470
27,630
27,500
32,440
28,210
Depreciation Expense
5,810
5,953
7,423
9,498
11,440
9,400
17,270
20,220
14,910
17,760
28,710
36,260
35,700
-12,000
8,970
19,220
11,930
Net Income, GAAP
11
17.57
21.52
19.17
17.3
14.77
9.83
11.93
11.17
21.2
16.41
10.65
14.29
- -
1.09
29.68
21.64
Effective Tax Rate (%)
10.2
7.85
8.19
8.92
9.55
6.78
10.71
11.8
6.9
5.01
7.47
7.89
6.72
-2.82
1.92
3.71
2.55
Profit Margin (%)
17,466
26,270
32,392
29,114
29,260
30,390
66,700
73,820
104,610
125,560
104,430
117,520
129,910
124,670
110,920
75,470
- -
Working Capital
10,023
23,772
28,123
22,543
17,930
22,660
53,500
58,730
263,820
279,570
227,260
222,310
208,190
249,680
192,560
165,560
- -
LT Debt
37,440
44,230
48,794
54,195
54,050
59,330
74,300
91,880
181,710
225,930
245,800
293,080
354,290
327,060
378,260
412,690
- -
Total Equity
13.13
12.92
12.42
15.63
18.15
16.73
19.01
17.41
9.12
8.3
10.82
13.39
13.11
- -
8.93
7.79
- -
Return on Invested Capital (%)
17.79
17.27
17.68
19.89
22.56
19.27
23.63
21.49
7.63
5.63
8.08
10.01
10.9
- -
8.71
9.79
9.4
Return on Capital (%)
37.88
42.79
55.33
48.2
51.65
37.62
47.52
38.76
16.14
13.32
21.23
25.56
19.81
-6.18
4.56
18.14
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
ST Debt
- -
58,430
- -
LT Borrowings
- -
182,630
- -
LT Finance Leases
- -
9,930
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
844
- -
Market Capitalization
381,492
490,610
541,890

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
Total Current Assets
- -
396,610
- -
Cash, Cash Equivalents & STI
- -
99,230
- -
Accounts Receivable, Net
- -
159,940
- -
Inventories
- -
103,160
- -
Total Current Liabilities
- -
285,690
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
58,430
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
23.7%
11.44%
9.1%
Free Cash Flow
333.09%
476.15%
-35.56%
Net Income, GAAP
-1.4%
-33.87%
114.27%
Sales/Revenue/Turnover
15.71%
7.21%
11.15%
Total Cash Common Dividend
- -
99.18%
520.78%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
89,630
101,700
98,870
135,790
425,990
2025
90,670
110,900
109,070
155,730
466,370
2026
92,160
122,690
183,350
- -
518,390

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.12
-2.44
-16.91
- -
-15.68
2025
-5.9
-5.68
9.7
11.2
9.66
2026
-1.04
4.69
12.57
- -
22.32

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
9.78
2025
- -
- -
- -
- -
0.83
2026
- -
- -
- -
- -
5.55
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Business
UPL Limited, an Indian multinational agrochemical company founded in 1969 and headquartered in Mumbai, Maharashtra, manufactures and markets a broad portfolio of crop protection products, seeds, biosolutions, and related agricultural offerings; its core products encompass herbicides, fungicides, insecticides, seed treatments, plant growth regulators, rodenticides, adjuvants, innovative nutrition solutions, fumigants, public health products, water conservation technologies, and post-harvest solutions including Decco brands. The company operates across the entire agrifood value chain, serving smallholder farmers, industrial operations, and cooperatives in nearly 140 countries with access to 90% of the world's food basket; key subsidiaries include Advanta Seeds for high-performance seeds and UPL Sustainable Agri Solutions. UPL ranks as the fifth-largest generics agrochemical provider globally, generating annual revenue exceeding US$6 billion through backward-integrated manufacturing and an R&D pipeline supported by multiple facilities. In recent developments, UPL's UK-based subsidiary UPL Global Limited enters a strategic partnership by acquiring a 49% stake in Thailand's Grow Chemical for $760,000 to enhance sustainable solutions for local farmers, with completion targeted by December 31, 2025. Through step-down subsidiary Advanta Seeds International Mauritius, UPL acquires 100% of Wuhan Advanta Seeds in China for $4,200, bolstering its Asian seeds footprint and set for closure by September 30, 2025. The company reports robust Q2 FY26 results with revenue up 8% to Rs 12,019 crore and profit at Rs 553 crore, alongside ongoing efforts to reduce debt, unlock seeds business value via potential Advanta IPO, and advance high-margin sustainable products aiming for over 50% of revenues by FY27.