UPL Limited (UPL) AI Stock Analysis

• Market Cap: ₹630.71B
• Dividend Yield: 0.8%
• Average Volume (3M): 42.13K
• Price to Earnings (P/E): 28.7
• Beta (1Y): 0.94
• Revenue Growth: 8.14%
• EPS Growth: N/A
• Country: IN
• Employees: 12,000
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Agricultural Inputs
• EPS (TTM): 6.80
• Shares Outstanding: 843,313,200
• 10 Day Avg. Volume: 20,494
• 30 Day Avg. Volume: 42,132
• 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: ₹775.00
• Price Target Upside: 3.62% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: ₹719.00 ▼(-3.86% Downside)

UPL Limited's overall stock score is driven by its strong financial performance, particularly in profitability and cash flow management. However, technical analysis indicates mixed signals with some short-term volatility. The high P/E ratio suggests potential overvaluation, which may deter value investors. The absence of recent earnings call data and notable corporate events limits additional insights.

UPL Limited Business Overview & Revenue Model

Company Description

UPL Limited (UPL) is a global leader in the agricultural sector, specializing in crop protection solutions, post-harvest products, and seeds. The company operates in various segments, including agrochemicals, bio-solutions, and specialty chemicals, serving farmers and agricultural businesses worldwide. UPL is committed to sustainable agriculture and innovation, offering a wide range of products designed to enhance crop yield and quality while minimizing environmental impact.

How the Company Makes Money

UPL generates revenue primarily through the sale of its agrochemical products, which include pesticides, herbicides, fungicides, and insecticides. The company also earns significant income from its bio-solutions and specialty chemicals divisions. Key revenue streams include both direct sales to farmers and partnerships with distributors and retailers across various geographies. UPL's global presence and strategic acquisitions have helped it expand its market share and product portfolio. Additionally, the company benefits from long-term contracts with agricultural businesses and collaborations with research institutions, which enhance its innovation capabilities and product offerings.

UPL Limited Financial Statement Overview

Summary

UPL Limited demonstrates solid financial health with significant improvements in profitability and cash flow management in 2025. While revenue growth has faced fluctuations, the overall upward trajectory is promising. The balance sheet remains stable with manageable leverage. These factors contribute to an optimistic outlook, although attention to liability management is advisable.

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	467.86B	466.37B	425.99B	531.34B	459.71B	384.18B
Gross Profit	229.14B	224.14B	178.32B	255.13B	235.85B	190.33B
EBITDA	74.62B	72.06B	40.09B	100.88B	91.00B	79.14B
Net Income	11.93B	8.97B	-12.00B	35.70B	36.26B	28.71B
Balance Sheet
Total Assets	0.00	880.02B	875.46B	885.77B	826.79B	704.31B
Cash, Cash Equivalents and Short-Term Investments	98.20B	98.20B	63.56B	61.73B	69.47B	48.67B
Total Debt	0.00	250.99B	297.54B	239.39B	267.09B	245.11B
Total Liabilities	-378.26B	501.76B	548.40B	531.48B	533.71B	458.51B
Stockholders Equity	378.26B	321.99B	248.07B	298.44B	246.61B	208.86B
Cash Flow
Free Cash Flow	0.00	84.56B	-23.94B	53.91B	38.08B	50.90B
Operating Cash Flow	0.00	101.51B	-12.35B	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: Positive
• Last Price: 747.90
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:UPL, the sentiment is Positive. The current price of 747.9 is above the 20-day moving average (MA) of 696.45, above the 50-day MA of 692.89, and above the 200-day MA of 656.72, indicating a bullish trend. The MACD of 14.79 indicates Negative momentum. The RSI at 76.11 is Negative, neither overbought nor oversold. The STOCH value of 90.05 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:UPL.

UPL Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GNFC	70 Outperform	₹72.90B	12.97	―	3.67%	-9.97%	9.63%
GSFC	68 Neutral	₹74.48B	11.59	―	2.67%	3.26%	19.18%
UPL	64 Neutral	₹630.71B	28.66	―	0.80%	8.14%	―
BAYERCROP	62 Neutral	₹217.34B	36.68	―	2.72%	15.23%	-11.06%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
SUMICHEM	59 Neutral	₹237.17B	43.71	―	0.25%	8.69%	12.26%
RALLIS	56 Neutral	₹50.89B	28.92	―	1.01%	0.91%	18.12%

UPL Limited Corporate Events

UPL Limited Submits Compliance Certificate for Q3 2025

UPL Limited has submitted a certificate under the SEBI (Depositories and Participants) Regulations, 2018, to the stock exchanges. The certificate, provided by MUFG Intime India Private Limited, confirms the dematerialization of securities for the quarter ending September 30, 2025. This submission ensures compliance with regulatory requirements and maintains transparency in UPL’s securities management, reflecting the company’s commitment to adhering to financial regulations.

UPL Limited Announces EGM to Approve Strategic Investment Transfer

UPL Limited has announced the convening of an Extraordinary General Meeting (EGM) on September 24, 2025, to be held via video conferencing. The primary agenda is to approve a material related party transaction involving the transfer of investment in Decco Holdings UK Limited from UPL Corporation Limited to Advanta Mauritius Limited, valued at $502 million. This strategic move is expected to streamline UPL’s operations and enhance its investment structure, potentially impacting its market positioning and stakeholder interests.

UPL Global Acquires Stake in Thailand’s Grow Chemical for Strategic Partnership

UPL Global Limited, a subsidiary of UPL Limited, has entered into a strategic partnership with Baka Company Ltd. to acquire a 49% stake in Grow Chemical Co. Ltd., a Thailand-based company. This investment aims to strengthen innovation and deliver sustainable agricultural solutions in Thailand, leveraging UPL’s expertise in crop protection and Baka’s local market presence. The collaboration will focus on joint R&D, distribution, and marketing to accelerate growth in Thailand’s agrochemical sector, with a commitment to sustainable farming practices.

UPL Limited Releases Q1 FY 2025-26 Earnings Call Transcript

UPL Limited announced the availability of the transcript for its Q1 FY 2025-26 earnings conference call, which discusses the company’s unaudited financial results for the quarter ending June 30, 2025. The release of this transcript is part of UPL’s commitment to transparency and compliance with regulatory requirements, potentially impacting investor relations and stakeholder engagement.

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.