UPL Limited

Chemicals · Fertilizers & Agrochemicals

NSE: UPL BSE: 512070 BSE: 534401

₹539.75

Sept. 30, 2026 · NSE · nse_bhavcopy

Peers in Fertilizers & Agrochemicals

The largest companies in the same industry by market cap. This company ranks #2 of 44. PE, ROE, 1Y return and scores come from the daily/weekly precomputed snapshot.

Company	Market cap (₹ Cr)	PE (TTM)	ROE	1Y return	Div. yield	Quality	Valuation	Momentum
Coromandel International Limited	51,870	27.6	18.3%	-21.9%	—	73	29	9
UPL Limited (this stock)	45,564	60.0	5.4%	-18.4%	1.11%	56	49	12
PI Industries Limited	35,047	27.3	11.8%	-35.5%	—	70	58	47
Sumitomo Chemical India Limited	21,625	37.3	16.0%	-20.4%	0.30%	79	0	26
Chambal Fertilizers & Chemicals Limited	16,397	8.1	—	-19.8%	2.69%	85	100	45
Bayer Cropscience Limited	16,303	22.3	23.2%	-26.2%	4.14%	92	54	6
Paradeep Phosphates Limited	16,017	14.9	13.8%	-21.4%	0.97%	46	58	50
Sharda Cropchem Limited	6,527	9.3	21.7%	-11.3%	2.07%	88	93	11

Valuation multiples

Current only. Market cap is the whole company's; sales/EBITDA are trailing-twelve-month standalone; debt and cash come from the latest filed standalone balance sheet (March 31, 2026). EBITDA = PBT + interest + depreciation.

Enterprise value

₹46,371 Cr

EV / EBITDA

37.2x

EV / Sales

8.45x

Market cap / Sales

8.31x

Earnings yield

1.67%

Quarterly Financials

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Standalone Consolidated

↓ Negative

Quarterly Revenue

Jun 2026 quarterly revenue is Rs 1,520 Cr, down 13.3% YoY.

↓ Negative

Quarterly Net Profit

Jun 2026 quarterly net profit is Rs 89 Cr, down 27.0% YoY.

Period end	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)	Basic EPS
June 30, 2026	1,397	120	89	₹1.0500
March 31, 2026	1,186	465	359	₹4.2500
Dec. 31, 2025	1,390	61	32	₹0.3700
Sept. 30, 2025	1,512	355	272	₹3.3200
June 30, 2025	1,660	132	122	₹1.5300
March 31, 2025	2,011	1,712	1,079	₹22.1600
Dec. 31, 2024	1,427	301	992	₹
Sept. 30, 2024	1,090	31	147	₹0.3700
June 30, 2024	802	-16	61	₹-0.2100
March 31, 2024	1,248	48	-10	₹1.0100
Dec. 31, 2023	2,626	-15	46	₹0.6100
Sept. 30, 2023	3,859	1,042	906	₹12.0700
June 30, 2023	3,594	308	267	₹3.5500

Quarterly income statement (standalone, ₹ Cr)

Indicator	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23
Total income (before exceptional items)	1,520	1,603	1,464	1,833	1,754	2,021	1,203	804	1,261	2,646	4,617	3,624	3,602
Operating revenue	1,397	1,186	1,390	1,512	1,660	2,011	1,090	802	1,248	2,626	3,859	3,594	3,581
Other income	123	417	74	321	94	10	113	2	13	20	758	30	21
Operating expenses	1,350	1,063	1,325	1,403	1,567	2,081	1,064	741	1,136	2,408	3,308	3,054	3,373
Operating profit	47	123	65	109	93	-70	26	61	112	218	551	540	208
Operating profit margin	3.4%	10.4%	4.7%	7.2%	5.6%	-3.5%	2.4%	7.6%	9.0%	8.3%	14.3%	15.0%	5.8%
Depreciation	25	28	32	32	33	34	28	34	28	172	172	164	165
Interest	25	29	32	43	22	51	80	45	49	103	95	98	120
Exceptional items, gain / (loss)	—	-18	-14	—	—	1,857	—	—	—	22	—	—	—
Profit before tax	120	465	61	355	132	1,712	31	-16	48	-15	1,042	308	-56
Tax	31	106	29	83	10	-27	3	—	-28	-61	136	41	107
Net profit	89	359	32	272	122	—	—	—	—	46	906	267	-163
EPS	1.05	4.25	0.37	3.32	1.53	22.16	0.37	-0.21	1.01	0.61	12.07	3.55	-2.17
Net profit (TTM)	752	785	—	—	—	—	—	—	—	1,056	1,333	763	975
EPS (TTM)	8.99	9.47	27.38	27.38	23.85	23.33	1.78	13.48	17.24	14.06	17.75	10.16	12.94

Total income excludes exceptional items, which are shown on their own row. Trendlyne and Screener fold exceptional items into revenue or other income, so their totals differ from this table by exactly that row.

Annual Financials

Year ended	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)
March 31, 2026	51,839	3,351	2,220
March 31, 2025	46,637	1,301	820
March 31, 2024	5,398	931	1,208
March 31, 2023	18,783	1,284	975

Annual income statement (standalone, ₹ Cr; CAGR to the latest year)

Indicator	CAGR 3Y	CAGR 5Y	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Total income (before exceptional items)	39.9%	35.7%	52,745^†	—	6,219^†	19,245^†	17,080^†	11,458^†	10,147^†	9,220^†	7,809^†	7,468^†
Operating revenue	40.3%	35.5%	51,839	46,637	5,398	18,783	16,449^†	11,345^†	9,641^†	8,660^†	7,374^†	7,154^†
Other income	—	—	906^†	—	821^†	462^†	631^†	113^†	506^†	560^†	435^†	314^†
Operating expenses	—	—	5,358^†	—	9,906^†	16,499^†	14,392^†	9,725^†	8,436^†	7,821^†	6,425^†	—
Operating profit	173.0%	95.7%	46,481^†	—	-4,508^†	2,284^†	2,057^†	1,620^†	1,205^†	839^†	949^†	—
Operating profit margin	—	—	89.7%^†	—	-83.5%^†	12.2%^†	12.5%^†	14.3%^†	12.5%^†	9.7%^†	12.9%^†	—
Depreciation	—	—	125^†	—	536^†	951^†	1,044^†	977^†	891^†	724^†	666^†	—
Interest	—	—	126^†	—	345^†	499^†	377^†	307^†	272^†	185^†	135^†	172^†
Exceptional items, gain / (loss)	—	—	-32^†	—	22^†	-12^†	-6^†	-15^†	-10^†	-4^†	-7^†	-46^†
Profit before tax	37.7%	50.5%	3,351	1,301	931	1,284	1,261^†	434^†	538^†	486^†	576^†	377^†
Tax	—	—	228^†	—	88^†	309^†	85^†	214^†	77^†	81^†	28^†	—
Net profit	31.6%	58.8%	2,220	820	1,208	975	1,176^†	220^†	461^†	405^†	548^†	214^†
EPS	-9.9%	26.9%	9.47^†	—	17.24^†	12.94^†	15.39^†	2.88^†	6.03^†	—	—	—

^† Derived: the sum of that fiscal year's four quarterly filings (a real annual filing is used wherever one exists). Checked against filed annual figures, the sum lands within 0.5% for about 94% of company-years.

Annual ratios (standalone)

Ratio	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Operating margin	89.7%^†	—	-83.5%^†	12.2%^†	12.5%^†	14.3%^†	12.5%^†	9.7%^†	12.9%^†	—
EBIT margin	6.7%^†	—	23.6%^†	9.5%^†	10.0%^†	6.5%^†	8.4%^†	7.7%^†	9.6%^†	7.7%^†
PBT margin	6.5%	2.8%	17.2%	6.8%	7.7%^†	3.8%^†	5.6%^†	5.6%^†	7.8%^†	5.3%^†
Net margin	4.3%	1.8%	22.4%	5.2%	7.1%^†	1.9%^†	4.8%^†	4.7%^†	7.4%^†	3.0%^†
Interest coverage	27.60x^†	—	3.70x^†	3.57x^†	4.34x^†	2.41x^†	2.98x^†	3.63x^†	5.27x^†	3.19x^†
Dividend payout	63.4%^†	—	58.0%^†	77.3%^†	65.0%^†	208.3%^†	132.7%^†	—	—	—
Earnings retention	36.6%^†	—	42.0%^†	22.7%^†	35.0%^†	-108.3%^†	-32.7%^†	—	—	—
Current ratio	2.47x	1.62x	—	—	—	—	—	—	—	—
Quick ratio	2.32x	1.52x	—	—	—	—	—	—	—	—
Debt to equity	0.06x	0.05x	—	—	—	—	—	—	—	—
Return on equity	15.8%	6.8%	—	—	—	—	—	—	—	—
Return on assets	12.4%	4.6%	—	—	—	—	—	—	—	—
Return on capital employed	23.6%^†	—	—	—	—	—	—	—	—	—
Asset turnover	2.89x	2.60x	—	—	—	—	—	—	—	—

Margins and asset turnover use operating revenue (interest earned for banks, excluding other income), not total income. Liquidity, leverage and return ratios need a filed standalone balance sheet, which exists only for recent years; returns use year-end equity/assets. Dividend payout is shown only for companies with a dividend record. † = built from a summed fiscal year.

Revenue Mix

Data unavailable.

Cash Flow

Year ended	Operating (₹ Cr)	Investing (₹ Cr)	Financing (₹ Cr)	Capex (₹ Cr)	Free Cash Flow (₹ Cr)
March 31, 2026	-2,243	783	1,385	36	-2,279
March 31, 2025	-923	843	38	255	-1,178
March 31, 2024	-411	-462	325	662	-1,073
March 31, 2023	1,667	-1,053	-426	1,107	560
March 31, 2022	2,349	-1,481	-643	1,070	1,279

Balance Sheet (standalone)

Year ended	Total Assets (₹ Cr)	Total Equity (₹ Cr)	Reserves (₹ Cr)	Borrowings, Current (₹ Cr)	Borrowings, Non-current (₹ Cr)	Current Assets (₹ Cr)	Current Liabilities (₹ Cr)	Cash & Equivalents (₹ Cr)	Net Block (₹ Cr)	Inventory (₹ Cr)
March 31, 2026	17,951	14,036	13,867	836	0	7,921	3,206	29	712	485
March 31, 2025	17,941	12,021	11,862	570	0	7,175	4,429	104	660	440
March 31, 2024	—	—	—	—	—	—	—	—	—	—
March 31, 2023	—	—	—	—	—	—	—	—	—	—
March 31, 2022	—	—	—	—	—	—	—	—	—	—

Financial charts

Trend charts drawn from the standalone income-statement and ratio tables above (oldest year on the left); a gap means that period has no figure. Annual years marked † in the tables are derived from four quarters.