Financials of UPL Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of UPL Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +16,5698,96310,1709,88714,0789,06711,09010,90715,5739,21612,01912,26918,335
Expenses +13,8477,7479,0499,82012,2307,9989,8739,22912,4097,82010,07210,03314,854
Operating Profit2,7221,2161,121671,8481,0691,2171,6783,1641,3961,9472,2363,481
OPM %16%14%11%1%13%12%11%15%20%15%16%18%19%
Other Income +3025818134664910394-16815239236162
Interest9067008711,1911,0909131,0707309141,007784774836
Depreciation727636657676794660697688705731771827915
Profit before tax1,391-62-389-1,66630-455-4473541,377-1907846711,892
Tax %22%-265%-25%-4%367%16%31%-141%22%-7%22%27%32%
Net Profit +1,080102-293-1,607-80-527-5858531,079-1766124901,294
EPS in Rs9.381.97-2.24-14.410.47-4.55-5.259.8110.61-1.046.564.7012.57

Financials of UPL Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +12,09114,04816,31217,37821,83735,75638,69446,24053,57643,09846,63751,839
Expenses +9,72811,70013,34613,96618,02428,98430,34236,71143,38038,80139,50942,761
Operating Profit2,3632,3482,9663,4123,8136,7728,3529,52910,1964,2977,1289,078
OPM %20%17%18%20%17%19%22%21%19%10%15%18%
Other Income +-11149363351-197-515629146423178724
Interest5177047357839631,4812,0602,2952,9633,8523,6273,401
Depreciation4256766726758802,0122,1732,3592,5472,7632,7503,244
Profit before tax1,4101,1171,9222,3051,7732,7644,1814,9665,150-2,0878293,157
Tax %17%15%10%12%11%21%16%11%14%-10%1%30%
Net Profit +1,1879521,7332,0301,5752,1783,4954,4374,414-1,8788202,220
EPS in Rs15.8213.0020.1823.5717.3520.6633.4042.1842.28-14.2110.6222.78
Dividend Payout %19%23%20%20%27%26%27%21%21%-6%53%0%

Financials of UPL Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital8686101102102153153153150150159169
Reserves5,7755,8037,2149,06714,61319,12920,73424,50826,70824,65729,05434,527
Borrowings +3,2815,2586,4436,63829,13929,38824,51926,74623,93929,75425,09923,576
Other Liabilities +5,1435,7226,4547,14818,58119,75823,35929,19635,31830,57931,70036,933
Total Liabilities14,28416,86920,21222,95562,43568,42868,76580,60386,11585,14086,01295,205
Fixed Assets +4,0313,8624,0714,43732,14935,32134,76536,19338,71339,05639,08444,301
CWIP5834847921,3191,8552,0732,1172,5012,8182,9652,546999
Investments7643353781,0347085586181,9221,6152,1542,3282,666
Other Assets +8,90612,18814,97116,16527,72330,47631,26539,98742,96940,96542,05447,239
Total Assets14,28416,86920,21222,95562,43568,42868,76580,60386,11585,14086,01295,205

Financials of UPL Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +1,4091,3962,5852,8392,3568,7397,2126,4967,7512,32110,1510
Cash from Investing Activity +-463-1,734-1,022-2,059-31,282-2,666-2,426-3,575-1,354-2,509-1,8230
Cash from Financing Activity +-991469140-80128,893-2,175-6,713-1,921-6,227164-4,7930
Net Cash Flow-451311,703-21-333,898-1,9271,000170-243,5350
Free Cash Flow8787031,3821,4358036,8045,1473,9315,4623678,8960
CFO/OP71%78%99%90%71%141%95%79%88%81%156%0%

Financials of UPL Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days115133127127195121115121124138121126
Inventory Days178204194204306153180216187198167179
Days Payable195213228255330199244274236196176169
Cash Conversion Cycle98124937617175516476141112135
Working Capital Days45488494127595238465299
ROCE %21%19%22%21%10%10%13%14%14%3%8%10%