UPL Limited

NSEI:UPL Stock Report

Market Cap: ₹545.6b

UPL Past Earnings Performance

Past criteria checks 2/6

UPL's earnings have been declining at an average annual rate of -31.8%, while the Chemicals industry saw earnings growing at 7.2% annually. Revenues have been growing at an average rate of 2.7% per year. UPL's return on equity is 5.3%, and it has net margins of 3.3%.

Key information

-31.81%

Earnings growth rate

-31.44%

EPS growth rate

Chemicals Industry Growth17.68%
Revenue growth rate2.71%
Return on equity5.32%
Net Margin3.30%
Next Earnings Update11 May 2026

Recent past performance updates

Analysis Article • Nov 19

We Think That There Are Issues Underlying UPL's (NSE:UPL) Earnings

UPL Limited's ( NSE:UPL ) robust earnings report didn't manage to move the market for its stock. Our analysis suggests...

Recent updates

Analysis Article • Feb 05

UPL Limited Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Investors in UPL Limited ( NSE:UPL ) had a good week, as its shares rose 6.1% to close at ₹759 following the release of...
Analysis Article • Jan 23

Investors Met With Slowing Returns on Capital At UPL (NSE:UPL)

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Analysis Article • Dec 22

These 4 Measures Indicate That UPL (NSE:UPL) Is Using Debt Reasonably Well

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article • Nov 19

We Think That There Are Issues Underlying UPL's (NSE:UPL) Earnings

UPL Limited's ( NSE:UPL ) robust earnings report didn't manage to move the market for its stock. Our analysis suggests...
Analysis Article • Nov 09

UPL Limited Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year

UPL Limited ( NSE:UPL ) investors will be delighted, with the company turning in some strong numbers with its latest...
Analysis Article • Nov 01

Estimating The Fair Value Of UPL Limited (NSE:UPL)

Key Insights Using the 2 Stage Free Cash Flow to Equity, UPL fair value estimate is ₹842 UPL's ₹720 share price...
Analysis Article • Sep 23

What UPL Limited's (NSE:UPL) P/S Is Not Telling You

There wouldn't be many who think UPL Limited's ( NSE:UPL ) price-to-sales (or "P/S") ratio of 1.2x is worth a mention...
Analysis Article • Aug 21

Return Trends At UPL (NSE:UPL) Aren't Appealing

NSEI:UPL 1 Year Share Price vs Fair Value Explore UPL's Fair Values from the Community and select yours What are the...
Analysis Article • Aug 05

UPL Limited (NSE:UPL) First-Quarter Results: Here's What Analysts Are Forecasting For This Year

UPL Limited ( NSE:UPL ) shareholders are probably feeling a little disappointed, since its shares fell 2.5% to ₹712 in...
Analysis Article • Jun 26

Is UPL (NSE:UPL) Using Too Much Debt?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...
Analysis Article • May 20

We Think UPL's (NSE:UPL) Profit Is Only A Baseline For What They Can Achieve

Investors were underwhelmed by the solid earnings posted by UPL Limited ( NSE:UPL ) recently. We did some digging and...
Analysis Article • May 15

UPL Limited Just Missed EPS By 29%: Here's What Analysts Think Will Happen Next

UPL Limited ( NSE:UPL ) shareholders are probably feeling a little disappointed, since its shares fell 7.4% to ₹637 in...
Analysis Article • May 14

Slowing Rates Of Return At UPL (NSE:UPL) Leave Little Room For Excitement

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...

Revenue & Expenses Breakdown

How UPL makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NSEI:UPL Revenue, expenses and earnings (INR Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Dec 25490,77016,21067,0600
30 Sep 25477,15020,53064,2700
30 Jun 25467,86010,57063,3600
31 Mar 25466,3707,61062,4600
31 Dec 24451,420-95058,9100
30 Sep 24441,220-21,40058,9500
30 Jun 24432,020-18,86056,9500
31 Mar 24430,980-13,36055,7400
31 Dec 23455,890-5,83061,9400
30 Sep 23493,81017,21063,5400
30 Jun 23517,18027,24063,4800
31 Mar 23535,76034,35063,2200
31 Dec 22528,68040,36060,1200
30 Sep 22504,86038,85058,2400
30 Jun 22485,46037,05056,7800
31 Mar 22462,40035,05053,9400
31 Dec 21431,75032,20047,5200
30 Sep 21410,04030,78046,1100
30 Jun 21393,76029,07044,2900
31 Mar 21386,94027,81043,5700
31 Dec 20370,39024,25044,6500
30 Sep 20368,05023,39041,9300
30 Jun 20356,83020,42034,0000
31 Mar 20357,56017,76040,9100
31 Dec 19331,40013,65036,4400
30 Sep 19291,6909,34034,1700
30 Jun 19256,09011,15025,0200
31 Mar 19218,37014,91026,0500
31 Dec 18190,03019,77022,3900
30 Sep 18182,76020,90021,6000
30 Jun 18177,89020,59021,3900
31 Mar 18173,78020,22020,9700
31 Dec 17170,29020,27021,4700
30 Sep 17167,54019,12021,4500
30 Jun 17165,25018,40020,9800
31 Mar 17163,12017,27020,6100
31 Dec 16146,18015,47317,1970
30 Sep 16140,16313,69216,4770
30 Jun 16135,36613,84015,8840
31 Mar 16140,4809,40018,1700
31 Dec 15125,86111,91323,97737
30 Sep 15125,37011,53823,59537
30 Jun 15123,97811,34723,35737

Quality Earnings: UPL has high quality earnings.

Growing Profit Margin: UPL became profitable in the past.

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: UPL's earnings have declined by 31.8% per year over the past 5 years.

Accelerating Growth: UPL has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: UPL has become profitable in the last year, making it difficult to compare its past year earnings growth to the Chemicals industry (9.5%).

Return on Equity

High ROE: UPL's Return on Equity (5.3%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/09 23:27
End of Day Share Price 2026/05/08 00:00
Earnings2025/12/31
Annual Earnings2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

UPL Limited is covered by 46 analysts. 18 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null null360 ONE Capital Market Private Limited
Himanshu BinaniAnand Rathi Shares and Stock Brokers Limited
null nullAnand Rathi Shares and Stock Brokers Limited