UPL Limited
UPL Limited operates in Pesticides & Agrochemicals, part of the Chemicals sector. It booked ₹10,181 cr of revenue in its latest quarter (Q1 FY27) and kept 0.1% of sales as profit. It is the largest of 9 Pesticides & Agrochemicals companies we track, by market value.
| Segment | FY24 | FY25 | FY26 | Share |
|---|---|---|---|---|
| Crop protection | 36,888 | 39,796 | 42,399 | 85% → 81% |
| Seeds | — | 4,678 | — | — |
| Non agro | 2,305 | 2,383 | 2,803 | 5% → 5% |
| Seeds business | 4,224 | — | — | — |
| Seeds & Post harvest | — | — | 6,830 | 13% |
| Total | 43,417 | 46,857 | 52,032 |
From the company's consolidated segment filings (Ind AS 108). Margin is segment operating profit (before interest & tax) over segment revenue; reconciliation rows like inter-segment eliminations are excluded from the mix.
“UPL is a leading global provider of sustainable agricultural and chemical markets: UPL Corporation handles the products and solutions, serving growers in more than international crop protection business, focusing on high- 140 countries with an annual revenue of $6 billion.”
“is to be a global icon for spanning advanced seeds and post-harvest treatments, pioneered high-impact agri-solutions conventional crop protection, BioSolutions, specialty technology growth and innovation globally, consistently navigating chemistries and high-tech agronomic services.”
“is to change the game, tailored approaches.”
Healthier than 35% of companies in Chemicals, on all six measures of filed financials. Each measure is ranked against the 35–44 companies that reported it.
Measures financial condition, not whether to buy. Learn what this score means · How this is calculated
- RSI (14)
- 37
At close. Not part of the score.
How much profit it earns on the money it employs
How much it owes, and whether earnings cover the interest
Whether reported profit actually arrives as cash
Whether sales and profit have grown, and how steadily
What today's price implies, against our models or its peers
How much of the promoters' stake is pledged, and how much they hold
What if I invest in UPL?
Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.
The slider starts at 12%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.
P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.
An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.
| Revenue from Operations | ₹10,181 cr |
| Other Income | ₹217 cr |
| Total Income | ₹10,398 cr |
| Cost of Materials | ₹5,621 cr |
| Purchases of Stock-in-Trade | ₹1,472 cr |
| Inventory Change (±) | ₹-2,778 cr |
| Employee Benefit Expense | ₹1,527 cr |
| Finance Costs | ₹852 cr |
| Depreciation & Amortisation | ₹832 cr |
| Other Expenses | ₹2,889 cr |
| Total Expenses | ₹10,415 cr |
| Exceptional Items | ₹-9 cr |
| Profit before Tax | ₹-26 cr |
| Tax Expense | ₹-36 cr |
| Share of JV / Associates | ₹-83 cr |
| Net Profit | ₹-73 cr |
| Net margin on total income | -0.7% |
The company made a net loss of ₹73 cr this quarter — income covered only ₹100 of every ₹100 it spent on costs and tax.
| Metric | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|
| Revenue | 12,269 cr | 18,335 cr | 10,181 cr |
| Total income | 12,361 cr | 18,513 cr | 10,398 cr |
| Expenses | 11,553 cr | 16,528 cr | 10,415 cr |
| Profit before tax | 752 cr | 1,969 cr | -26 cr |
| Tax | 181 cr | 598 cr | -36 cr |
| Net profit (owners' share) | 396 cr | 1,061 cr | 10 cr |
| Net margin (owners' share, on revenue) | 3.2% | 5.8% | 0.1% |
| EPS (₹) | 4.69 | 12.57 | 0.12 |
| Company | Price | Market cap | P/E | ROE | Net margin | 1-yr return |
|---|---|---|---|---|---|---|
| UPL Limitedthis company | ₹555 | ₹3.37 L cr | 1,155.7 | 0.1% | 0.1% | — |
| PI Industries Limited | ₹2,307 | ₹35,066 cr | 35.8 | 9.8% | 16.2% | — |
| Sumitomo Chemical India Limited | ₹455 | ₹22,734 cr | 26.5 | 25.4% | 20.2% | — |
| Sharda Cropchem Limited | ₹742 | ₹6,692 cr | 19.0 | 11.2% | 8.2% | — |
| Dhanuka Agritech Limited | ₹982 | ₹4,428 cr | 14.7 | 21.5% | 17.1% | — |
| Rallis India Limited | ₹204 | ₹3,971 cr | — | — | -2.8% | — |
| NACL Industries Limited | ₹149 | ₹3,488 cr | 41.8 | 12.2% | 5.4% | — |
| Bhagiradha Chemicals & Industries Limited | ₹248 | ₹3,215 cr | 60.2 | 7.6% | 6.8% | — |
| GSP Crop Science Limited | ₹484 | ₹2,252 cr | 21.3 | 13.7% | 6.8% | — |
| Action | Detail | Ex-date |
|---|---|---|
| Dividend | ₹6 / share | 17 Jul 2026 |
| Dividend | ₹6 / share | 11 Jul 2025 |
| Rights issue | 8:1 | 26 Nov 2024 |
| Dividend | ₹1 / share | 12 Aug 2024 |
| Dividend | ₹10 / share | 3 Aug 2023 |
| Dividend | ₹10 / share | 27 Jul 2022 |
A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.
Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.
Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.
The company also transacted with 21 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.
Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.
When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.
As of Dec 2025, the company says it has spent 99% of what it set aside, leaving ₹33 cr still to be spent. Care Ratings Limited watches the spending on the exchange’s behalf.
Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing