UPL
UPL Limited, together with its subsidiaries, manufactures and markets agrochemicals, industrial chemicals, chemical intermediates, and specialty chemicals in India, Europe, North America, Latin America, and internationally. The last earnings update was 1 day ago. More info.
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UPL Share Price and Events
7 Day Returns
1 Year Returns
UPL Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| UPL (UPL) | 1.2% | 3.9% | 18.1% | 36.8% | 68.4% | 215.6% |
| IN Chemicals | -0.1% | -5.5% | 4% | -4.4% | 50.8% | 150.5% |
| IN Market | -0.1% | -5% | 4.7% | -3.7% | 34.5% | 38.6% |
1 Year Return vs Industry and Market
- UPL outperformed the Chemicals industry which returned -4.4% over the past year.
- UPL outperformed the Market in India which returned -3.7% over the past year.
Value
Is UPL undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
UPL
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for UPL.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 22 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 16% |
| Perpetual Growth Rate | 10-Year IN Government Bond Rate | 7.6% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year IN Govt Bond Rate | 7.6% |
| Equity Risk Premium | S&P Global | 8.6% |
| Chemicals Unlevered Beta | Simply Wall St/ S&P Global | 0.87 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.873 (1 + (1- 35%) (16.43%)) |
0.977 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.98 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.977 * 8.6%) |
15.95% |
Discounted Cash Flow Calculation for NSEI:UPL using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for UPL is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (INR, Millions) | Source |
Present Value Discounted (@ 15.95%) |
|
|---|---|---|---|
| 2019 | 11,962.33 | Analyst x9 | 10,316.45 |
| 2020 | -51,768.07 | Analyst x14 | -38,502.63 |
| 2021 | 25,610.00 | Analyst x10 | 16,426.77 |
| 2022 | 59,961.00 | Analyst x1 | 33,168.49 |
| 2023 | 65,755.00 | Analyst x1 | 31,368.94 |
| 2024 | 71,489.89 | Est @ 8.72% | 29,412.37 |
| 2025 | 77,473.68 | Est @ 8.37% | 27,488.67 |
| 2026 | 83,767.71 | Est @ 8.12% | 25,632.47 |
| 2027 | 90,428.80 | Est @ 7.95% | 23,863.54 |
| 2028 | 97,510.55 | Est @ 7.83% | 22,191.87 |
| Present value of next 10 years cash flows | ₹181,366.94 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= ₹97,510.55 × (1 + 7.55%) ÷ (15.95% – 7.55%) |
₹1,247,887.49 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= ₹1,247,887.49 ÷ (1 + 15.95%)10 |
₹283,999.57 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= ₹181,366.94 + ₹283,999.57 |
₹465,366.50 |
| Equity Value per Share (INR) |
= Total value / Shares Outstanding
= ₹465,366.50 / 509.34 |
₹913.66 |
| Calculation | Result | |
|---|---|---|
| Value per share (INR) | From above. | ₹914.08 |
| Current discount | Discount to share price of
₹970.65
= -1 x (₹970.65 - ₹914.08) / ₹914.08 |
-6.2% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of UPL is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for UPL's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
UPL's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in INR | ₹28.42 |
| BSE:512070 Share Price ** | BSE (2019-05-17) in INR | ₹970.2 |
| India Chemicals Industry PE Ratio | Median Figure of 233 Publicly-Listed Chemicals Companies | 14.53x |
| India Market PE Ratio | Median Figure of 2,758 Publicly-Listed Companies | 15.12x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of UPL.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = BSE:512070 Share Price ÷ EPS (both in INR) = 970.2 ÷ 28.42 |
34.14x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- UPL is overvalued based on earnings compared to the IN Chemicals industry average.
- UPL is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does
UPL's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 34.14x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 22 Analysts |
36%per year |
| India Chemicals Industry PEG Ratio | Median Figure of 53 Publicly-Listed Chemicals Companies | 1.26x |
| India Market PEG Ratio | Median Figure of 559 Publicly-Listed Companies | 1.25x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 34.14x ÷ 36% |
0.95x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- UPL is good value based on expected growth next year.
Price based on value of assets
What value do investors place on
UPL's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in INR | ₹177.40 |
| BSE:512070 Share Price * | BSE (2019-05-17) in INR | ₹970.2 |
| India Chemicals Industry PB Ratio | Median Figure of 268 Publicly-Listed Chemicals Companies | 1.37x |
| India Market PB Ratio | Median Figure of 3,638 Publicly-Listed Companies | 1.02x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = BSE:512070 Share Price ÷ Book Value per Share (both in INR) = 970.2 ÷ 177.40 |
5.47x |
* Primary Listing of UPL.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- UPL is overvalued based on assets compared to the IN Chemicals industry average.
Value checks
We assess UPL's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Chemicals industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Chemicals industry average (and greater than 0)? (1 check) UPL has a total score of 1/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
How is UPL expected to perform in the next 1 to 3 years based on estimates from 22 analysts?
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- UPL's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
- UPL's earnings growth is expected to exceed the India market average.
- UPL's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NSEI:UPL Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 22 Analysts | 36% |
| NSEI:UPL Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 22 Analysts | 18.5% |
| India Chemicals Industry Earnings Growth Rate | Market Cap Weighted Average | 17.7% |
| India Chemicals Industry Revenue Growth Rate | Market Cap Weighted Average | 14.3% |
| India Market Earnings Growth Rate | Market Cap Weighted Average | 16.8% |
| India Market Revenue Growth Rate | Market Cap Weighted Average | 10.4% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 22 Analyst Estimates (S&P Global) | See Below |
| Date (Data in INR Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-03-31 | 89,166 | |||
| 2022-03-31 | 81,155 | |||
| 2021-03-31 | 324,617 | 55,825 | 33,285 | 20 |
| 2020-03-31 | 289,528 | 40,748 | 27,455 | 22 |
| Date (Data in INR Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 220,770 | 15,190 | |
| 2018-12-31 | 190,030 | 19,770 | |
| 2018-09-30 | 182,760 | 20,900 | |
| 2018-06-30 | 177,890 | 20,590 | |
| 2018-03-31 | 173,780 | 28,390 | 20,220 |
| 2017-12-31 | 170,290 | 20,270 | |
| 2017-09-30 | 167,540 | 19,120 | |
| 2017-06-30 | 165,250 | 18,400 | |
| 2017-03-31 | 163,120 | 25,850 | 17,270 |
| 2016-12-31 | 146,180 | 15,473 | |
| 2016-09-30 | 140,163 | 13,692 | |
| 2016-06-30 | 135,366 | 13,840 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 22 Analyst Estimates (S&P Global) | See Below |
All data from UPL Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in INR Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-03-31 | ||||
| 2022-03-31 | 95.00 | 95.00 | 95.00 | 1.00 |
| 2021-03-31 | 63.61 | 79.40 | 54.11 | 15.00 |
| 2020-03-31 | 52.72 | 63.00 | 43.09 | 16.00 |
| Date (Data in INR Millions) | EPS * |
|---|---|
| 2019-03-31 | 28.42 |
| 2018-12-31 | 38.84 |
| 2018-09-30 | 41.09 |
| 2018-06-30 | 40.48 |
| 2018-03-31 | 39.79 |
| 2017-12-31 | 39.90 |
| 2017-09-30 | 37.66 |
| 2017-06-30 | 36.30 |
| 2017-03-31 | 34.06 |
| 2016-12-31 | 36.10 |
| 2016-09-30 | 31.95 |
| 2016-06-30 | 32.29 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess UPL's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
UPL has a total score of 5/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has UPL performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- UPL's year on year earnings growth rate has been positive over the past 5 years.
- UPL's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- UPL's 1-year earnings growth is negative, it can't be compared to the IN Chemicals industry average.
Earnings and Revenue History
All data from UPL Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in INR Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 220,770.00 | 15,190.00 | 20,950.00 | |
| 2018-12-31 | 190,030.00 | 19,770.00 | 22,390.00 | |
| 2018-09-30 | 182,760.00 | 20,900.00 | 21,600.00 | |
| 2018-06-30 | 177,890.00 | 20,590.00 | 21,390.00 | |
| 2018-03-31 | 173,780.00 | 20,220.00 | 20,970.00 | |
| 2017-12-31 | 170,290.00 | 20,270.00 | 21,470.00 | |
| 2017-09-30 | 167,540.00 | 19,120.00 | 21,450.00 | |
| 2017-06-30 | 165,250.00 | 18,400.00 | 20,980.00 | |
| 2017-03-31 | 163,120.00 | 17,270.00 | 20,610.00 | |
| 2016-12-31 | 146,180.10 | 15,472.60 | 17,197.10 | |
| 2016-09-30 | 140,162.50 | 13,692.30 | 16,477.00 | |
| 2016-06-30 | 135,365.70 | 13,839.80 | 15,883.60 | |
| 2016-03-31 | 140,480.00 | 9,400.00 | 18,170.00 | |
| 2015-12-31 | 125,861.20 | 11,912.50 | 23,976.60 | 37.40 |
| 2015-09-30 | 125,369.70 | 11,538.00 | 23,595.20 | 37.40 |
| 2015-06-30 | 123,978.30 | 11,346.50 | 23,357.00 | 37.40 |
| 2015-03-31 | 120,905.20 | 11,484.50 | 12,865.60 | |
| 2014-12-31 | 118,353.30 | 10,725.40 | 21,057.80 | 115.90 |
| 2014-09-30 | 114,299.00 | 10,455.00 | 21,037.30 | 115.90 |
| 2014-06-30 | 108,905.00 | 10,340.70 | 9,723.90 | |
| 2014-03-31 | 107,708.80 | 9,580.90 | 20,579.10 | 115.90 |
| 2013-12-31 | 102,404.40 | 8,679.20 | 18,824.80 | 183.20 |
| 2013-09-30 | 98,911.10 | 8,191.70 | 18,433.60 | 183.20 |
| 2013-06-30 | 94,238.90 | 7,843.40 | 18,038.20 | 183.20 |
| 2013-03-31 | 91,857.00 | 7,769.40 | 17,808.90 | 183.20 |
| 2012-12-31 | 84,776.60 | 6,980.70 | 15,439.10 | |
| 2012-09-30 | 80,940.10 | 6,370.00 | 15,090.20 | |
| 2012-06-30 | 80,130.60 | 5,741.50 | 14,615.00 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- UPL has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- UPL used its assets more efficiently than the IN Chemicals industry average last year based on Return on Assets.
- UPL's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess UPL's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Chemicals industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
UPL has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is UPL's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up UPL's finances.
The net worth of a company is the difference between its assets and liabilities.
- UPL is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- UPL's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from UPL Company Filings, last reported 1 month ago.
| Date (Data in INR Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | |||
| 2018-12-31 | 91,170.00 | 81,180.00 | 22,160.00 |
| 2018-09-30 | 91,170.00 | 81,180.00 | 22,160.00 |
| 2018-06-30 | 91,880.00 | 66,380.00 | 29,250.00 |
| 2018-03-31 | 91,880.00 | 66,380.00 | 29,250.00 |
| 2017-12-31 | 79,640.00 | 62,120.00 | 17,040.00 |
| 2017-09-30 | 79,640.00 | 62,120.00 | 17,040.00 |
| 2017-06-30 | 74,300.00 | 63,610.00 | 29,160.00 |
| 2017-03-31 | 74,300.00 | 63,610.00 | 29,150.00 |
| 2016-12-31 | 73,916.90 | 58,234.80 | 12,643.00 |
| 2016-09-30 | 73,916.90 | 58,234.80 | 12,643.00 |
| 2016-06-30 | 68,330.40 | 42,374.00 | 10,678.50 |
| 2016-03-31 | 59,330.00 | 52,580.00 | 12,150.00 |
| 2015-12-31 | |||
| 2015-09-30 | |||
| 2015-06-30 | 59,046.90 | 32,805.90 | 10,098.10 |
| 2015-03-31 | 59,046.90 | 32,805.90 | 10,098.10 |
| 2014-12-31 | |||
| 2014-09-30 | |||
| 2014-06-30 | 54,194.90 | 28,609.60 | 10,227.80 |
| 2014-03-31 | 54,194.90 | 33,495.10 | 10,227.80 |
| 2013-12-31 | |||
| 2013-09-30 | |||
| 2013-06-30 | 48,794.50 | 42,037.50 | 18,319.30 |
| 2013-03-31 | 48,794.50 | 42,037.50 | 18,319.30 |
| 2012-12-31 | |||
| 2012-09-30 | |||
| 2012-06-30 | 44,230.10 | 33,930.20 | 8,251.80 |
- UPL's level of debt (89%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (69.2% vs 89% today).
- Debt is well covered by operating cash flow (35%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 3.5x coverage).
Financial health checks
We assess UPL's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) UPL has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is UPL's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
₹2,000 of
UPL
shares you are expected to receive
₹16
in your first year as a dividend.
Dividend Amount
- UPL's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.55%).
- UPL's dividend is below the markets top 25% of dividend payers in India (2.09%).
Upcoming dividend payment
Purchase UPL before the 'Buy Limit' to receive their next dividend payment.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 22 Analyst Estimates (S&P Global) | See Below |
| India Chemicals Industry Average Dividend Yield | Market Cap Weighted Average of 162 Stocks | 1% |
| India Market Average Dividend Yield | Market Cap Weighted Average of 1398 Stocks | 1.4% |
| India Minimum Threshold Dividend Yield | 10th Percentile | 0.3% |
| India Bottom 25% Dividend Yield | 25th Percentile | 0.6% |
| India Top 25% Dividend Yield | 75th Percentile | 2.1% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in ₹) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-03-31 | ||
| 2022-03-31 | ||
| 2021-03-31 | 11.83 | 13.00 |
| 2020-03-31 | 9.84 | 16.00 |
| Date (Data in ₹) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-05-17 | 8.000 | 0.825 |
| 2018-07-30 | 8.000 | 1.052 |
| 2017-04-28 | 7.000 | 0.928 |
| 2016-06-02 | 5.000 | 0.759 |
| 2016-04-29 | 5.000 | 0.856 |
| 2015-07-02 | 5.000 | 1.089 |
| 2015-04-27 | 5.000 | 0.958 |
| 2014-07-31 | 4.000 | 1.102 |
| 2014-04-25 | 4.000 | 1.307 |
| 2013-06-24 | 2.500 | 1.524 |
| 2013-04-25 | 2.500 | 1.676 |
| 2012-04-30 | 2.500 | 2.052 |
| 2011-10-21 | 4.000 | 2.926 |
| 2011-04-29 | 2.000 | 1.330 |
| 2010-08-02 | 2.000 | 1.204 |
| 2010-04-15 | 2.000 | 1.157 |
| 2009-06-01 | 1.500 | 0.951 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
UPL's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are well covered by earnings (3.6x coverage).
- Dividends after 3 years are expected to be thoroughly covered by earnings (8x coverage).
Income/ dividend checks
We assess UPL's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can UPL afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) UPL has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | ₹0 |
| AGE | 50 |
CEO Bio
Ashutosh Kumar Awasthi, B. Tech., serves as Chief Executive Officer of UPL Limited. Ashutosh Kumar Awasthi served at Piramal Class Ltd. Ashutosh Kumar Awasthi holds B.Tech. Ashutosh Kumar Awasthi earned MBA in Finance and Marketing from Institute of Management Technology, Ghaziabad from 2004 to 2006.
CEO Compensation
- Ashutosh's compensation has been consistent with company performance over the past year.
- Ashutosh's remuneration is lower than average for companies of similar size in India.
Management Team
Rajju Shroff
Executive Chairman & MD
₹101M
85
Ashutosh Awasthi
Chief Executive Officer
50
Anand Vora
Chief Financial Officer
₹29M
54
5.8 yrs
Ajit Premnath
COO & Global Business Head of Crop Protection
59
A. Balaji
Chief Information Officer
50
Mukul Trivedi
Company Secretary & Compliance Officer
₹8M
65
Rohit Kumar
Vice President of Legal
39
Kalyan Mohan Banerjee
Director of Marketing
₹7M
75
Farokh Hilloo
Global Sales Director
56
K. Srivastava
Chief Executive Officer of Specialty Chemicals Division
60
Board of Directors Tenure
Average tenure and age of the UPL board of directors in years:
- The average tenure for the UPL board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors
Sandra Shroff
Non-Executive Vice Chairman
78
Rajju Shroff
Executive Chairman & MD
₹101M
85
Jai Shroff
Global CEO & Executive Director
53
26.6 yrs
Vikram Shroff
Executive Director
44
13.1 yrs
Arun Ashar
Director of Finance & Executive Director
₹26M
69
26.2 yrs
Reena Ramachandran
Independent Non Executive Director
₹1M
77
15.6 yrs
Vinod Sethi
Independent Non-Executive Director
₹960K
56
13.3 yrs
Pradeep Goyal
Non-Executive Independent Director
₹1M
63
17.3 yrs
Hardeep Singh
Additional Independent & Non-Executive Director
₹1M
64
4.3 yrs
Vasant Gandhi
Additional Independent & Non-Executive Director
₹1M
64
3.5 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (₹) | Value (₹) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 25. Mar 19 | Sell | Shilpa Shroff | Individual | 20. Mar 19 | 20. Mar 19 | -2,500 | ₹936.80 | ₹-2,342,000 | ||
| 25. Mar 19 | Sell | Hardeep Singh | Individual | 22. Mar 19 | 22. Mar 19 | -3,500 | ₹933.40 | ₹-3,266,910 | ||
| 26. Feb 19 | Sell | Kalyan Mohan Banerjee | Individual | 25. Feb 19 | 25. Feb 19 | -7,500 | ₹829.12 | ₹-6,218,409 | ||
| 10. Oct 18 | Buy | Rohit Kumar | Individual | 01. Oct 18 | 09. Oct 18 | 2,600 | ₹627.15 | ₹1,630,600 | ||
| 05. Sep 18 | Buy | Demuric Holdings Pvt. Ltd. | Company | 31. Aug 18 | 03. Sep 18 | 126,061 | ₹722.76 | ₹91,014,031 | ||
| 10. Aug 18 | Buy | Hardeep Singh | Individual | 23. Jul 18 | 23. Jul 18 | 2,000 | ₹628.46 | ₹1,256,919 | ||
| 10. Aug 18 | Buy | Hardeep Singh | Individual | 23. Jul 18 | 23. Jul 18 | 2,000 | ₹628.46 | ₹1,256,919 | ||
| 04. Jun 18 | Buy | Demuric Holdings Pvt. Ltd. | Company | 01. Jun 18 | 01. Jun 18 | 100,000 | ₹704.63 | ₹70,462,723 | ||
Management checks
We assess UPL's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) UPL has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
A Close Look At UPL Limited’s (NSE:UPL) 20% ROCE
In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Understanding Return On Capital Employed (ROCE). … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.
Simply Wall St - – Full articleCalculating The Fair Value Of UPL Limited (NSE:UPL)
Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model. … We're using the 2-stage growth model, which simply means we take in account two stages of company's growth … In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate.
Simply Wall St - – Full articleIf You Had Bought UPL (NSE:UPL) Stock Five Years Ago, You Could Pocket A 334% Gain Today
It's also good to see the share price up 24% over the last quarter. … During five years of share price growth, UPL achieved compound earnings per share (EPS) growth of 15% per year. … This EPS growth is slower than the share price growth of 34% per year, over the same period.
Simply Wall St - – Full articleWhat Does UPL Limited's (NSE:UPL) P/E Ratio Tell You?
The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … That corresponds to an earnings yield of approximately 4.2%. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleHave Insiders Been Selling UPL Limited (NSE:UPL) Shares?
Over the last year, we can see that the biggest insider sale was by Shilpa Shroff for ₹29m worth of shares, at about ₹725 per share. … That means that an insider was selling shares at slightly below the current price (₹882). … Over the last year we saw more insider selling of UPL shares, than buying.
Simply Wall St - – Full articleShould We Be Delighted With UPL Limited's (NSE:UPL) ROE Of 22%?
With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … That means that for every ₹1 worth of shareholders' equity, it generated ₹0.22 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleAn Examination Of UPL Limited (NSE:UPL)
Help shape the future of investing tools and you could win a $250 gift card! … As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook.
Simply Wall St - – Full articleUPL Limited's (NSE:UPL) Most Important Factor To Consider
What is left after investment, determines the value of the stock since this cash flow technically belongs to investors of the company. … I’ve analysed below, the health and outlook of UPL’s cash flow, which will help you understand the stock from a cash standpoint. … Free cash flow (FCF) is the amount of cash UPL has left after it pays off its expenses, including its net capital expenditures, which is what the company needs to spend each year to maintain or grow its business operations.
Simply Wall St - – Full articleHow Do Analysts See UPL Limited (NSE:UPL) Performing Over The Next Year?
Since UPL Limited (NSE:UPL) released its earnings in September 2018,. … in-line with its track record, as upcoming earnings growth is expected to be 19% next year, similar to the range of average earnings growth for the past five years of 19% per year
Simply Wall St - – Full articleWant To Invest In UPL Limited (NSE:UPL)? Here's How It Performed Lately
Examining how UPL Limited (NSE:UPL) is performing as a company requires looking at more than just a years' earnings. … UPL's trailing twelve-month earnings (from 30 September 2018) of ₹21b has? … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 19%, indicating the rate at which UPL is growing has slowed down
Simply Wall St - – Full articleCompany Info
Description
UPL Limited, together with its subsidiaries, manufactures and markets agrochemicals, industrial chemicals, chemical intermediates, and specialty chemicals in India, Europe, North America, Latin America, and internationally. The company operates in two segments, Agro Activity and Non-agro Activity. It offers crop protection products, such as herbicides, insecticides, and fungicides; fumigants and fumigation technologies; and specialty post-harvest products, including coatings and phosphine fumigation, as well as sorghum, corn, canola, sunflower, rice, and vegetable seeds. The company also manufactures and markets industrial chemicals and other non-agricultural related products. UPL Limited also exports its products. In addition, it provides farmer advisory and education services, as well as farm services. The company was formerly known as United Phosphorus Limited and changed its name to UPL Limited in October 2013. UPL Limited was founded in 1969 and is headquartered in Mumbai, India.
Details
| Name: | UPL Limited |
| UPL | |
| Exchange: | NSEI |
| Founded: | 1969 |
| ₹494,164,258,434 | |
| 509,342,670 | |
| Website: | http://www.uplonline.com |
| Address: |
UPL Limited UPL House, 610 B/2, Bandra Village, Mumbai, Maharashtra, 400051, India |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| BSE | 512070 | Equity Shares | Mumbai Stock Exchange | IN | INR | 15. May 1996 | |
| NSEI | UPL | Equity Shares | National Stock Exchange of India | IN | INR | 15. May 1996 |
Number of employees
Current staff
Industry
| Fertilizers and Agricultural Chemicals | |
| Materials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/19 12:57 |
| End of day share price update: | 2019/05/17 00:00 |
| Last estimates confirmation: | 2019/05/18 |
| Last earnings filing: | 2019/05/18 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2019/03/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
