UPL Limited (IN:UPL)
:UPL
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UPL Limited
(UPL)
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Rating:68Neutral
Price Target:
₹681.00
▼(-15.31% Downside)
Action:ReiteratedDate:11/18/25
UPL Limited's overall stock score is driven by strong financial performance, particularly in profitability and cash flow management. Technical analysis indicates bullish momentum, though caution is advised due to overbought signals. Valuation metrics suggest the stock may be overvalued, which could limit upside potential. The absence of earnings call and corporate events data means these factors did not influence the score.
Positive Factors
Cash-flow Recovery
UPL's turnaround to positive free cash flow reflects durable operational improvements and stronger cash conversion. Sustainable FCF enhances the firm's ability to fund capex, buy back stock, or reduce debt, supporting long-term financial flexibility and resilience across agricultural cycles.
Negative Factors
Revenue Volatility
Inconsistent top-line growth points to exposure to cyclical and demand shocks. Persistent revenue volatility can complicate capital planning and margin sustainability, and requires management to continuously adapt pricing, mix, and channel strategies to preserve long-term profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash-flow Recovery
UPL's turnaround to positive free cash flow reflects durable operational improvements and stronger cash conversion. Sustainable FCF enhances the firm's ability to fund capex, buy back stock, or reduce debt, supporting long-term financial flexibility and resilience across agricultural cycles.
Read all positive factors
UPL Limited (UPL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹527.94B
Dividend Yield0.77%
Average Volume (3M)42.13K
Price to Earnings (P/E)42.4
Beta (1Y)1.05
Revenue Growth8.14%
EPS GrowthN/A
CountryIN
Employees12,000
SectorBasic Materials
Sector Strength58
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)5.40
Shares Outstanding844,169,250
10 Day Avg. Volume20,494
30 Day Avg. Volume42,132
Financial Highlights & Ratios
PEG Ratio-0.37
Price to Book (P/B)1.64
Price to Sales (P/S)1.13
P/FCF Ratio6.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹860.00Price Target Upside6.95% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)27.63
Revenue Forecast (FY)₹501.10B
UPL Limited Business Overview & Revenue Model
Company Description
UPL Limited engages in the provision of sustainable agriculture products and solutions in India and internationally. It operates through two segments, Agro Activity and Non-Agro Activity. The company offers sorghum, forages, corn, canola, sunflowe...
How the Company Makes Money
UPL primarily makes money by selling agricultural inputs, with its largest revenue stream coming from crop protection products (such as herbicides, fungicides, and insecticides) sold to distributors, retailers, and other channel partners who suppl...
UPL Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
68
Positive
Cash Flow
81
Very Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 477.15B | 466.37B | 425.99B | 531.34B | 459.71B | 384.18B |
| Gross Profit | 216.76B | 224.14B | 178.32B | 255.13B | 235.85B | 190.33B |
| EBITDA | 83.84B | 72.06B | 40.09B | 106.81B | 91.00B | 79.14B |
| Net Income | 21.89B | 8.97B | -12.00B | 35.70B | 36.26B | 28.71B |
Balance Sheet | ||||||
| Total Assets | 913.91B | 880.02B | 875.46B | 885.77B | 826.79B | 704.31B |
| Cash, Cash Equivalents and Short-Term Investments | 47.60B | 98.20B | 63.56B | 61.73B | 69.47B | 48.67B |
| Total Debt | 300.22B | 250.99B | 297.54B | 239.39B | 267.09B | 245.11B |
| Total Liabilities | 536.81B | 501.76B | 548.40B | 531.48B | 533.71B | 458.51B |
| Stockholders Equity | 318.94B | 321.99B | 248.07B | 298.44B | 246.61B | 208.86B |
Cash Flow | ||||||
| Free Cash Flow | -56.11B | 84.56B | -23.94B | 53.91B | 38.08B | 50.90B |
| Operating Cash Flow | -48.11B | 101.51B | -12.35B | 77.51B | 64.96B | 72.12B |
| Investing Cash Flow | -7.93B | -18.40B | -24.78B | -14.90B | -38.19B | -21.01B |
| Financing Cash Flow | -1.55B | -47.93B | 1.64B | -62.27B | -19.21B | -67.13B |
UPL Limited Technical Analysis
Neutral
804.10
Price Trends
688.81
Negative
724.23
Negative
702.75
Negative
Market Momentum
-21.15
Negative
43.63
Neutral
47.31
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:UPL, the sentiment is Neutral. The current price of 804.1 is above the 20-day moving average (MA) of 622.94, above the 50-day MA of 688.81, and above the 200-day MA of 702.75, indicating a neutral trend. The MACD of -21.15 indicates Negative momentum. The RSI at 43.63 is Neutral, neither overbought nor oversold. The STOCH value of 47.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:UPL.
UPL Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹58.62B | 12.10 | ― | 3.68% | -7.53% | 42.74% | |
68 Neutral | ₹60.27B | 11.49 | ― | 2.80% | 15.25% | 26.49% | |
68 Neutral | ₹527.94B | 42.42 | ― | 0.77% | 8.14% | ― | |
63 Neutral | ₹45.93B | 700.00 | ― | 0.92% | 0.91% | 18.12% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | ₹193.07B | 77.71 | ― | 0.26% | 8.69% | 12.26% | |
60 Neutral | ₹202.35B | 53.52 | ― | 1.57% | 8.92% | 5.06% |
* Basic Materials Sector Average
IN:UPL
UPL Limited
625.40
-24.70
-3.80%
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UPL Limited Corporate Events
UPL calls March 31 EGM to clear high-value related party deals
Mar 9, 2026
UPL Limited has called an Extraordinary General Meeting on 31 March 2026 via video conferencing to seek shareholder approval for a series of material related party transactions for FY 2026-27. The meeting will also leverage electronic voting facil...
UPL Unveils Investor Presentation on Strategic Group Reorganization
Feb 20, 2026
UPL Limited has notified stock exchanges that it has released an investor presentation detailing a strategic group reorganization. The company has circulated this presentation to key domestic and international exchanges, signaling that the reorgan...
UPL Cleans Up Structure, Sets Up New Listed Global Crop Protection Platform
Feb 20, 2026
UPL Limited’s board has approved a composite scheme of arrangement to reorganise its crop protection operations by merging UPL Sustainable Agri Solutions into the listed parent, demerging the India crop protection business into a new entity,...
UPL to Create Unified Global Crop Protection Platform via Major Restructuring
Feb 20, 2026
UPL Limited’s board has approved a composite scheme of arrangement to integrate its India-specific and international crop protection businesses into a single global platform, UPL Global Sustainable Agri Solutions Limited (UPL 2). The restruc...
UPL Posts Strong Turnaround in Q3 FY26 With Higher Revenue and Profitability
Feb 3, 2026
UPL Limited reported unaudited consolidated financial results for the quarter and nine months ended 31 December 2025, showing continued revenue growth and a strong rebound in profitability versus the previous year. Consolidated revenue from operat...
UPL Board Clears Unaudited Q3 and Nine-Month FY26 Results, Auditors Issue Clean Review
Feb 2, 2026
UPL Limited’s board of directors has approved the unaudited consolidated and standalone financial results for the quarter and nine‑month period ended 31 December 2025, following review by the audit committee, and has submitted these to...
UPL Limited Announces Unaudited Q3 and 9M FY26 Financial Results
Feb 2, 2026
UPL Limited has released its unaudited consolidated and standalone financial results for the third quarter and nine‑month period ended December 31, 2025, for FY 2026. The disclosure, made in line with securities listing regulations in India ...
UPL Releases Q3 and Nine-Month FY26 Investor Presentation
Feb 2, 2026
UPL Limited has released an investor presentation detailing its consolidated financial results and business update for the third quarter and nine-month period ended 31 December 2025, in line with regulatory disclosure requirements. The presentatio...
UPL Confirms Rights Issue Proceeds Fully Aligned With Stated Objectives
Feb 2, 2026
UPL Limited has disclosed that the proceeds from its ₹3,377.74 crore rights issue have been utilised in line with stated objectives, with no variation or deviation reported for the quarter and nine-month period ended December 31, 2025. A Mon...
UPL Hong Kong Takes Full Control of UPL Agro with USD 17.86 Million Stake Buyout
Jan 8, 2026
UPL Limited’s step-down subsidiary, UPL Limited, Hong Kong, has acquired the remaining 25% stake in UPL Agro Limited for a cash consideration of USD 17.86 million, making UPL Agro a wholly owned subsidiary. The transaction, completed on Janu...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.