New Risk • Aug 04
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Annonce • Jul 27
UPL Limited to Report Q1, 2027 Results on Aug 03, 2026 UPL Limited announced that they will report Q1, 2027 results on Aug 03, 2026 Reported Earnings • Jul 17
Full year 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2026 results: EPS: ₹22.32 (up from ₹9.66 in FY 2025). Revenue: ₹518.4b (up 11% from FY 2025). Net income: ₹18.5b (up 144% from FY 2025). Profit margin: 3.6% (up from 1.6% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) missed analyst estimates by 23%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jul 12
Upcoming dividend of ₹6.00 per share Eligible shareholders must have bought the stock before 17 July 2026. Payment date: 05 September 2026. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.8%). Declared Dividend • Jun 27
Dividend of ₹6.00 announced Dividend of ₹6.00 is the same as last year. Ex-date: 17th July 2026 Payment date: 5th September 2026 Dividend yield will be 1.0%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (9% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 116% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Jun 25
UPL Limited, Annual General Meeting, Aug 06, 2026 UPL Limited, Annual General Meeting, Aug 06, 2026, at 13:30 Indian Standard Time. Reported Earnings • May 12
Full year 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2026 results: EPS: ₹22.32 (up from ₹9.87 in FY 2025). Revenue: ₹518.4b (up 11% from FY 2025). Net income: ₹19.2b (up 153% from FY 2025). Profit margin: 3.7% (up from 1.6% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) missed analyst estimates by 23%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Annonce • May 04
UPL Limited to Report Fiscal Year 2026 Results on May 11, 2026 UPL Limited announced that they will report fiscal year 2026 results on May 11, 2026 Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹626, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 27x in the Chemicals industry in India. Total loss to shareholders of 6.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹854 per share. Buy Or Sell Opportunity • Feb 23
Now 28% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to ₹645. The fair value is estimated to be ₹898, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.7% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 169% in the next 2 years. Reported Earnings • Feb 03
Third quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2026 results: EPS: ₹4.69 (down from ₹9.98 in 3Q 2025). Revenue: ₹122.7b (up 13% from 3Q 2025). Net income: ₹3.96b (down 52% from 3Q 2025). Profit margin: 3.2% (down from 7.6% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 6.0%. Earnings per share (EPS) missed analyst estimates by 37%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Feb 01
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.0% to ₹665. The fair value is estimated to be ₹838, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.9% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 17% in 2 years. Earnings are forecast to grow by 102% in the next 2 years. Annonce • Jan 27
UPL Limited to Report Q3, 2026 Results on Feb 02, 2026 UPL Limited announced that they will report Q3, 2026 results on Feb 02, 2026 Annonce • Nov 24
UPL Limited Announces Cessation of Dr. Vasant Gandhi as an Independent Director, Effective November 22, 2025 UPL Limited announced that Dr. Vasant Gandhi (DIN: 00863653) has completed his second and final term as an Independent Director on November 22, 2025 and consequently ceased to be an Independent Director of the Company with effect from close of business hours from the aforesaid date. Reported Earnings • Nov 07
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: ₹6.75 (up from ₹5.90 loss in 2Q 2025). Revenue: ₹120.2b (up 8.4% from 2Q 2025). Net income: ₹5.53b (up ₹9.96b from 2Q 2025). Profit margin: 4.6% (up from net loss in 2Q 2025). Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Annonce • Oct 29
UPL Limited to Report Q2, 2026 Results on Nov 06, 2025 UPL Limited announced that they will report Q2, 2026 results on Nov 06, 2025 Buy Or Sell Opportunity • Sep 26
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at ₹648. The fair value is estimated to be ₹835, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.2% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 17% in 2 years. Earnings are forecast to grow by 266% in the next 2 years. Reported Earnings • Aug 02
First quarter 2026 earnings released: ₹1.98 loss per share (vs ₹6.02 loss in 1Q 2025) First quarter 2026 results: ₹1.98 loss per share (improved from ₹6.02 loss in 1Q 2025). Revenue: ₹92.2b (up 1.6% from 1Q 2025). Net loss: ₹880.0m (loss narrowed 77% from 1Q 2025). Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Annonce • Jul 24
UPL Limited to Report Q1, 2026 Results on Aug 01, 2025 UPL Limited announced that they will report Q1, 2026 results on Aug 01, 2025 Upcoming Dividend • Jul 04
Upcoming dividend of ₹6.00 per share Eligible shareholders must have bought the stock before 11 July 2025. Payment date: 24 August 2025. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.7%). Annonce • Jun 25
UPL Limited, Annual General Meeting, Jul 25, 2025 UPL Limited, Annual General Meeting, Jul 25, 2025, at 14:00 Indian Standard Time. Reported Earnings • May 13
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: ₹9.85 (up from ₹17.80 loss in FY 2024). Revenue: ₹466.4b (up 8.2% from FY 2024). Net income: ₹8.97b (up ₹22.3b from FY 2024). Profit margin: 1.9% (up from net loss in FY 2024). Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 29%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Annonce • May 12
UPL Limited Recommends Dividend UPL Limited announced that at its board meeting held on May 12, 2025, recommended dividend of 300% that is INR 6 per equity share on equity shares of INR 2 each (on fully paid-up equity shares and partly paid-up equity shares in proportion to their share in the paid-up equity share capital), subject to approval of members at the upcoming Annual General Meeting (AGM). The dividend will be paid /dispatched within 30 days of the AGM. Annonce • May 05
UPL Limited to Report Q4, 2025 Results on May 12, 2025 UPL Limited announced that they will report Q4, 2025 results on May 12, 2025 Board Change • Apr 02
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Santosh Mohanty was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Annonce • Apr 01
UPL Limited Appoints Ms. M V Bhanumathi and Santosh Kumar Mohanty as an Independent Directors UPL Limited approved to appoint Ms. M V Bhanumathi as an Independent Director and Santosh Kumar Mohanty as an Independent Director of the Company, at its EGM held on 31 March, 2025. Price Target Changed • Feb 04
Price target increased by 8.4% to ₹665 Up from ₹613, the current price target is an average from 23 analysts. New target price is approximately in line with last closing price of ₹637. Stock is up 32% over the past year. The company is forecast to post earnings per share of ₹13.21 next year compared to a net loss per share of ₹17.80 last year. Reported Earnings • Feb 01
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: EPS: ₹9.98 (up from ₹17.11 loss in 3Q 2024). Revenue: ₹109.1b (up 10% from 3Q 2024). Net income: ₹8.28b (up ₹20.5b from 3Q 2024). Profit margin: 7.6% (up from net loss in 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Annonce • Jan 31
UPL Limited Announces Early Retirement of Rajendra Darak, Vice Chairman-UPL Group UPL Limited informed that Mr. Rajendra Darak, Vice Chairman-UPL Group (age 59 years) and a Senior Management Personnel, has sought early retirement after more than thirty-three years of service with UPL Group, due to pursue personal priorities. The change takes effect from close of business hours on 31 January, 2025. Mr. Darak provided exceptional leadership to the Finance, Treasury and Strategy functions in various capacities. The Company has a succession plan in place, which is overviewed by Nomination and Remuneration Committee of the Board. Board Change • Jan 31
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive & Independent Director Usha Rao-Monari was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Annonce • Jan 31
UPL Limited Announces Resignation of Carlos Pellicer as a Non-Executive Director UPL Limited announced that its board of directors at its meeting held on January 31, 2025 has approved the following: Resignation of Mr. Carlos Pellicer as a Non-Executive Director of the Company. Mr. Carlos Pellicer vide letter dated 31st January, 2025 has tendered his resignation as a Non-Executive Director of the Company effective from close of business hours of 31st January, 2025 to pursue his passion in the field of sustainable agriculture and social causes in Brazil. Annonce • Jan 27
UPL Limited to Report Q3, 2025 Results on Jan 31, 2025 UPL Limited announced that they will report Q3, 2025 results on Jan 31, 2025 Annonce • Dec 10
UPL Limited(BSE:750928) dropped from FTSE All-World Index (USD) UPL Limited(BSE:750928) dropped from FTSE All-World Index (USD) Annonce • Nov 22
UPL Limited has filed a Follow-on Equity Offering in the amount of INR 33.777344 billion. UPL Limited has filed a Follow-on Equity Offering in the amount of INR 33.777344 billion.
Security Name: Equity Shares
Security Type: Common Stock
Securities Offered: 93,825,955
Price\Range: INR 360
Transaction Features: Rights Offering Annonce • Nov 21
Alpha Wave Ventures II, LP, managed by Alpha Wave Global, LP and Chimera Capital Limited agreed to acquire 8.93% stake in Advanta Enterprises Limited from UPL Limited (BSE:512070) for INR 21.1 billion. Alpha Wave Ventures II, LP, managed by Alpha Wave Global, LP and Chimera Capital Limited agreed to acquire 8.93% stake in Advanta Enterprises Limited from UPL Limited (BSE:512070) for INR 21.1 billion on November 19, 2024. Further, AEL will issue fresh equity shares to Alpha Wave for a cash consideration of INR 8.4 billion which will tantamount to Alpha Wave holding an additional 3.51% shareholding, The acquisition of 8.93% stake in Advanta Enterprises Limited by Alpha Wave Ventures II, LP will be done post primary investment.
The transaction is subject to regulatory approval and approval of Competition Commission of India. The transaction is approved by board of UPL Limited.
For the period ending March 31, 2024, Advanta Enterprises Limited reported total revenue of INR 41.48 billion. As of March 31, 2024, Advanta Enterprises Limited reported total common equity of INR 39.38 billion. Annonce • Nov 06
UPL Limited to Report Q2, 2025 Results on Nov 11, 2024 UPL Limited announced that they will report Q2, 2025 results on Nov 11, 2024 Recent Insider Transactions • Sep 25
Insider recently sold ₹15m worth of stock On the 20th of September, Arun Ashar sold around 25k shares on-market at roughly ₹586 per share. This transaction amounted to 5.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Aug 03
First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2025 results: ₹6.02 loss per share (down from ₹1.33 profit in 1Q 2024). Revenue: ₹90.7b (up 1.2% from 1Q 2024). Net loss: ₹3.84b (down 331% from profit in 1Q 2024). Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Declared Dividend • Aug 02
Dividend reduced to ₹1.00 Dividend of ₹1.00 is 90% lower than last year. Ex-date: 12th August 2024 Payment date: 26th September 2024 Dividend yield will be 0.2%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Annonce • Aug 01
UPL Limited, Annual General Meeting, Aug 27, 2024 UPL Limited, Annual General Meeting, Aug 27, 2024. Annonce • Jul 24
UPL Limited to Report Q1, 2025 Results on Aug 02, 2024 UPL Limited announced that they will report Q1, 2025 results on Aug 02, 2024 Reported Earnings • May 14
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: ₹17.80 loss per share (down from ₹45.76 profit in FY 2023). Revenue: ₹431.0b (down 20% from FY 2023). Net loss: ₹12.0b (down 135% from profit in FY 2023). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 39%. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Annonce • May 05
UPL Limited to Report Q4, 2024 Results on May 13, 2024 UPL Limited announced that they will report Q4, 2024 results on May 13, 2024 Annonce • Mar 30
UPL Limited(NSEI:UPL) dropped from Nifty 50 UPL Limited has been Removed from CNX NIFTY Index . Buy Or Sell Opportunity • Feb 05
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to ₹474. The fair value is estimated to be ₹652, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Feb 03
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: ₹17.11 loss per share (down from ₹13.52 profit in 3Q 2023). Revenue: ₹100.4b (down 27% from 3Q 2023). Net loss: ₹12.2b (down 212% from profit in 3Q 2023). Revenue missed analyst estimates by 7.1%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Buying Opportunity • Dec 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.8%. The fair value is estimated to be ₹753, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 8.8%. Revenue is forecast to grow by 15% in 2 years. Earnings is forecast to grow by 150% in the next 2 years. Reported Earnings • Nov 01
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: ₹2.54 loss per share (down from ₹10.83 profit in 2Q 2023). Revenue: ₹101.7b (down 19% from 2Q 2023). Net loss: ₹1.89b (down 123% from profit in 2Q 2023). Revenue missed analyst estimates by 6.2%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 10% per year. Price Target Changed • Aug 02
Price target decreased by 12% to ₹776 Down from ₹880, the current price target is an average from 24 analysts. New target price is 25% above last closing price of ₹619. Stock is down 15% over the past year. The company is forecast to post earnings per share of ₹47.97 for next year compared to ₹45.76 last year. New Risk • Aug 01
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risk Profit margins are more than 30% lower than last year (5.3% net profit margin). Reported Earnings • Jul 30
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: ₹45.76 (down from ₹45.87 in FY 2022). Revenue: ₹535.8b (up 16% from FY 2022). Net income: ₹34.4b (down 2.0% from FY 2022). Profit margin: 6.4% (down from 7.6% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 27
Upcoming dividend of ₹10.00 per share at 1.6% yield Eligible shareholders must have bought the stock before 03 August 2023. Payment date: 17 September 2023. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 1.6%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.9%). Annonce • Jul 25
UPL Limited to Report Q1, 2024 Results on Jul 31, 2023 UPL Limited announced that they will report Q1, 2024 results on Jul 31, 2023 Annonce • Jul 15
UPL Limited, Annual General Meeting, Aug 18, 2023 UPL Limited, Annual General Meeting, Aug 18, 2023, at 15:00 Indian Standard Time. Agenda: To consider the dividend.