UPL Limited (UPL) AI Stock Analysis

• Market Cap: ₹581.81B
• Dividend Yield: 0.87%
• Average Volume (3M): 81.40K
• Price to Earnings (P/E): 49.6
• Beta (1Y): 1.05
• Revenue Growth: 8.30%
• EPS Growth: N/A
• Country: IN
• Employees: 12,000
• Sector: Basic Materials
• Sector Strength: 60
• Industry: Agricultural Inputs
• EPS (TTM): -1.25
• Shares Outstanding: 844,433,600
• 10 Day Avg. Volume: 103,715
• 30 Day Avg. Volume: 81,404
• PEG Ratio: -0.37
• Price to Book (P/B): 1.64
• Price to Sales (P/S): 1.13
• P/FCF Ratio: 6.23
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹714.00
• Price Target Upside: 4.17% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4

• Rating: 68 Neutral
• Price Target: ₹741.00 ▲(8.10% Upside)

The stock score is primarily driven by strong financial performance and technical analysis, showcasing robust recovery and positive momentum. However, the high P/E ratio and low dividend yield indicate overvaluation risks, which temper the overall score.

UPL Limited Business Overview & Revenue Model

Company Description

UPL Limited is a global provider of sustainable agriculture solutions and one of the leading agrochemical companies. Headquartered in India, UPL operates in the sectors of crop protection, seeds, and post-harvest solutions. The company's core products and services include a wide range of agrochemical products such as herbicides, insecticides, fungicides, and seed treatments, as well as innovative solutions for improving crop yield and resilience.

How the Company Makes Money

UPL Limited generates revenue primarily through the sale of its agrochemical products and solutions to farmers, agricultural businesses, and distributors worldwide. The company's key revenue streams include sales of crop protection chemicals, seeds, and specialty products that enhance agricultural productivity. UPL also engages in strategic partnerships and collaborations with research institutions, agricultural companies, and distribution networks to expand its market reach and drive innovation. Additionally, UPL's focus on sustainability and environmental stewardship helps to differentiate its offerings, attracting customers seeking eco-friendly agricultural solutions.

UPL Limited Financial Statement Overview

Summary

UPL Limited exhibits strong financial health with improvements in profitability and cash flow management in 2025. Despite revenue volatility, the overall trend is positive. The balance sheet is stable, and the cash flow indicates robust liquidity and operational efficiency.

Income Statement

UPL Limited exhibits strong gross profit margins with a significant increase from 2024 to 2025, indicating improved cost management. The net profit margin also turned positive in 2025, showcasing a recovery from the negative net income in 2024, which is a positive sign. Revenue growth has been inconsistent, with a notable recovery in 2025 after a decrease in 2024, indicating some volatility but a general upward trend.

Balance Sheet

The company's debt-to-equity ratio remains moderate, showing effective leverage management. Return on equity has improved significantly in 2025, reflecting increased profitability. However, the equity ratio is relatively stable, indicating a balanced asset structure. The balance sheet shows resilience, but there is a need to manage liabilities effectively to maintain growth.

Cash Flow

Free cash flow has shown a substantial recovery from negative figures in 2024 to positive in 2025, indicating improved cash management. The operating cash flow to net income ratio is strong, signifying efficient operations. Overall, cash flow metrics suggest robust liquidity and operational efficiency.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	466.37B	466.37B	425.99B	531.34B	459.71B	384.18B
Gross Profit	204.17B	224.14B	182.43B	255.13B	235.85B	190.33B
EBITDA	72.36B	72.06B	45.28B	100.88B	91.00B	79.14B
Net Income	8.97B	8.97B	-12.00B	35.70B	36.26B	28.71B
Balance Sheet
Total Assets	880.02B	880.02B	875.46B	885.77B	826.79B	704.31B
Cash, Cash Equivalents and Short-Term Investments	106.03B	106.03B	63.56B	61.73B	69.47B	48.67B
Total Debt	250.99B	250.99B	297.54B	239.39B	267.09B	245.11B
Total Liabilities	501.76B	501.76B	548.40B	531.48B	533.71B	458.51B
Stockholders Equity	321.99B	321.99B	248.07B	298.44B	246.61B	208.86B
Cash Flow
Free Cash Flow	0.00	84.56B	-1.73B	53.91B	38.08B	50.90B
Operating Cash Flow	0.00	101.51B	18.22B	77.51B	64.96B	72.12B
Investing Cash Flow	0.00	-18.40B	-24.78B	-14.90B	-38.19B	-21.01B
Financing Cash Flow	0.00	-47.93B	1.64B	-62.27B	-19.21B	-67.13B

UPL Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 685.45
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: 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 685.45 is below the 20-day moving average (MA) of 706.85, above the 50-day MA of 671.27, and above the 200-day MA of 608.48, indicating a neutral trend. The MACD of 4.88 indicates Positive momentum. The RSI at 47.56 is Neutral, neither overbought nor oversold. The STOCH value of 46.44 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GSFC	70 Outperform	₹81.33B	12.66		1.96%	3.26%	19.19%
SUMICHEM	70 Outperform	₹296.42B	53.20		0.20%	13.78%	28.22%
UPL	68 Neutral	₹581.81B	49.61		0.87%	8.30%	―
RALLIS	67 Neutral	₹72.11B	41.92		0.66%	7.10%	29.32%
GNFC	61 Neutral	₹73.87B	13.15		3.28%	-9.97%	9.63%
BAYERCROP	57 Neutral	₹253.12B	42.72		2.22%	15.23%	-11.06%
Sector *	44 Neutral	AU$1.54B	-7.28	-26.52%	4.40%	-3.13%	-36.41%

UPL Limited Corporate Events

UPL Limited Reports Decline in Q2 2025 Financial Results

UPL Limited has released its unaudited consolidated financial results for the quarter ending June 30, 2025, showing a decline in total income and a net loss compared to the previous quarter. The results indicate a challenging period for the company, with implications for its financial health and market positioning, as stakeholders may need to reassess their expectations.

UPL Limited Reports Financial Downturn in Q2 2025

UPL Limited has released its unaudited consolidated financial results for the quarter ending June 30, 2025, showing a decline in performance compared to the previous quarter. The company reported a net loss of 88 crores attributable to shareholders, a significant drop from a profit of 896 crores in the prior quarter. This downturn in financial results could impact UPL’s market positioning and stakeholder confidence, as the company navigates challenges in maintaining profitability.