UPL Ltd Stock Analysis

BSE: 512070 | NSE: UPL | Pesticides & Agrochemicals | Large Cap

BSE Share Price 23-Sep-2022 18:01
702.75 -18.30 (-2.54%)

DeciZen - Make an Informed Decision on UPL

Overall Rating

1. Quality

2. Valuation

Fair

3. Price Trend

UPL Price Chart

P/E Ratio (CD) :
13.79
Market Cap :
52,749 Cr.
52-wk low :
607.8
52-wk high :
848
Bole Toh?

1. Is UPL Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that UPL Ltd is a good quality company.

2. Is UPL Ltd undervalued or overvalued?

The key valuation ratios of UPL Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is UPL Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of UPL Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of UPL:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
UPL Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 12.4%14.3%17.1%15.6%19.6%17.6%8.3%6.8%8.8%11%-
Value Creation Index -0.10.10.30.20.70.6-0.3-0.4-0.2-0.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 9,18610,77112,09114,04816,31217,37821,83735,75638,69446,24048,546
YoY Gr. Rt. %-17.3%12.3%16.2%16.1%6.5%25.7%63.7%8.2%19.5%-
Adj EPS 11.21418.31724.926.925.328.538.653.651
YoY Gr. Rt. %-24.6%30.6%-7%46.6%8.1%-6.2%13%35.1%39.1%-
BVPS (₹) 7081.691.232.496.5119.9192.4213234283.1286.9
Adj Net Profit 7458991,1741,0931,8942,0571,9292,1802,9454,0963,826
Cash Flow from Ops. 1,6991,4411,4091,3962,5852,8392,3568,7397,2126,496-
Debt/CF from Ops. 2.52.32.33.82.52.312.43.33.34-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 19.7%23.2%28.4%19.5%
Adj EPS 19%16.6%28.5%39.1%
BVPS 16.82413.821
Share Price 23.8% 6.2% 6.4% -2.3%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 16.918.221.118.628.524.816.212.814.71817.9
Op. Profit Mgn % 17.818.619.518.619.720.218.619.922.12221.9
Net Profit Mgn % 7.78.29.98.511.811.99.27.29.110.37.9
Debt to Equity 0.90.60.62.50.90.721.51.11.1-
Working Cap Days 2212172242352432092672112012010
Cash Conv. Cycle 917777868134824431260

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 17.90%

Sales growth is growing at healthy rate in last 3 years 28.41%

Net Profit is growing at healthy rate in last 3 years 28.53%

Sales growth is good in last 4 quarters at 23.26%

Debt to equity has increased versus last 3 years average to 1.05

Latest Financials - UPL Ltd.

Standalone Consolidated
TTM EPS (₹) 18.5 51
TTM Sales (₹ Cr.) 17,496 48,546
BVPS (₹.) 101.1 286.9
Reserves (₹ Cr.) 7,436 21,386
P/BV 6.95 2.45
PE 38.09 13.79
From the Market
52 Week Low / High (₹) 607.80 / 848.00
All Time Low / High (₹) 0.05 / 864.75
Market Cap (₹ Cr.) 52,749
Equity (₹ Cr.) 150.1
Face Value (₹) 2
Industry PE 33.7

Management X-Ray of UPL :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *7.961.921.920.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of UPL

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

About UPL Ltd

UPL is global leader in global food systems as one of the top five agricultural solutions companies worldwide. It is the 5th agrochemical company in the world, after the acquisition of Arysta LifeScience. The company is present in many countries. The company has market access of the world’s food basket and is focused on ushering growth and progress for the complete agricultural value chain including growers, distributors, suppliers and innovation partners. As a new company, the company offer an integrated portfolio of both patented and post-patent agricultural solutions for various arable and specialty crops, including biological, crop protection, seed treatment and post-harvest solutions covering the entire crop value chain.

Business area of the company

The Company is engaged into manufacturing of agrochemicals, industrial chemicals and production and sale of vegetable and field crops.

Technologies

  • Seeds
  • Crop Protection
  • Plant Stress and Stimulation
  • Post Harvest
  • Soil & Water Technologies
  • Aquatics

Services

  • ProNutiva
  • Farmer Engagement

Awards

  • 2008: Rolta Corporate Award 2008
  • 2009: Lifetime Achievement Award from CHEMXCIL
  • 2010: Finalist Nomination Award of Ernst & Young Entrepreneur of the Year
  • 2012: ‘Agriculture Leadership’ award for Rajju Shroff and Vikram Shrof
  • 2013: Ernst & Young ‘Entrepreneur of the Year’ award
  • 2014: ESR Award for UPL Mexico.
  • 2016: Piyush Goyal, Minister of States for Power felicitates UPL Jhagadia site, the winner of Golden Peacock awards 2016.
  • 2017: UPL Jhagadia won the silver ‘EKDKN Exceed Award 2017’.
  • 2018: Frost & Sullivan - TERI Sustainability 4.0 Awards 2018 - 1st Runner-up, Challengers category
  • 2018: Frost & Sullivan and TERI Sustainability 4.0 Awards 2018 - Challengers Award - Large Business, Process Sector
  • 2018: Gold Award ‘Brands for Environment’ for year 2018 - Top 10 Environment Friendly Factories in the country
  • 2018: Gold Award ‘Friendly Green Factory’ for Year 2018 - ‘TOP 20 Clean and Green Factory’ in Country
  • 2018: Gold Award ‘Sustainable development’ for Year 2018 - ‘Top 20 Factory for sustainable development, innovation and Systems’ in the country
  • 2018: Outstanding business award, India Manufacturing Excellence Award (IMEA) 2018 by Frost & Sullivan - Gold Certificate of Merit
  • 2018: India Green Manufacturing Challenge (IGMC) by Frost & Sullivan - Silver Award
  • 2018: National Awards for Manufacturing Competitiveness, (NAMC 2017- 2018) - Gold medal.
  • 2019: Frost and Sullivan Gold Award for Excellence in Manufacturing Practices in the category of Process Sector, Mega Large Business 
  • 2019: Frost & Sullivan-TERI Sustainability 4.0 Awards 
  • 2019: National Awards for Manufacturing Competitiveness (NAMC) ‘Gold’ Medal
  • 2019: Quality Circle Forums of India Awards: Won Golds and Silvers across India operations
  • 2019: The South Gujarat Chamber of Commerce & Industry (SGCCI) Gold Award
  • 2019: Platinum Award in Occupational Health & Safety Management by Apex India Foundation
  • 2019: Gold Peacock Occupational Health and Safety Awards
  • 2019: Best Health Care Institution of the year award to Sandra Shroff ROFEL College of Nursing
  • 2020: Awarded an Agrow Award in the category of 'Best Company From an Emerging Region' during the 2020 Crop Science Forum & Awards.

Milestones

  • 1969: Started manufacturing Red Phosphorus.
  • 1972: President’s Gold seal for Research and Development.
  • 1976: Entry into Agchem.
  • 1976: Started exporting products.
  • 1980: Started production of yellow Phosphorus, Ankleshwar.
  • 1984: Listed on India’s stock exchanges.
  • 1994: acquisition of MTM Agrochemical, UK-First international acquisition operation commenced in Jhagada.
  • 1996: Started Caustic Chlorine Plant.
  • 1997: Dervrinol- ROW.
  • 2000: Product acquisition of Dervrinol Japan by UPL.
  • 2004: Product acquisition of Surflan USA, by UPL.
  • 2004: Product acquisition of Ultra Blazer, Worldwide, by UPL.
  • 2004: Product acquisition of Lenacil, Chloridazon, Europe, by UPL.
  • 2005: Cequisa, Europe.
  • 2005: SWAL acquisition.
  • 2005: Reposa, Argentina.
  • 2005: First EMR registered (SAAF).
  • 2006: Cerexagri.
  • 2006: Advanta.
  • 2006: CropServe.
  • 2007: EvoFarm, Colombia.
  • 2007: Icona.
  • 2008: Evofarm, Group.
  • 2010: Acquired RiceCo for leveraging the global sales and marketing network for the rice segment.
  • 2010: Acquired Manzate brand, strengthening its fungicide portfolio.
  • 2011: DVA Agro, with 51% stake.
  • 2012: Acquired DVA Agro and SIB for gaining entry into Brazil
  • 2013: Neo-Fog, SA & JPB Courtage, France.
  • 2014: Increase stake in UPL Brazil (73%).
  • 2014: Crossed Rs 100 billion mark in revenues.
  • 2014: Optima Farm Solution Ltd, India.
  • 2015: Increase stake in UPL Brazil (100%).
  • 2015: Sinagro Stake- 40%.
  • 2015: Close to $2 billion in revenue.
  • 2016: Crossed $2 billion in revenues.
  • 2016: Crossed 5000 mark in registration.
  • 2016: Merger with former associate, Advanta Seeds.
  • 2017: $2.5 billion in revenue.
  • 2018: UPL announces acquisition of Costa Rica’s Bioquim Group.
  • 2019-20: Acquisition of Laoting Yoloo Bio-technology Co. Ltd.
  • 2019-20: Launched an initiative for using drones, Unmanned Aerial Vehicles (UAVs) and other aerial/vision technologies to make recommendation to growers.
  • 2019-20: Launched Adarsh Farm Service (AFS) in India, which uses state-of-the-art spraying machines specially adapted to small farms.
  • 2019-20: Acquired Arysta LifeScience in an all-cash $4.2 billion deal.
  • 2020-21: FIFA Foundation and UPL sign memorandum of understanding to promote sustainable development and education through football.
  • 2020-21: UPL joins The Heart Fund’s One Billion Hearts Platform to provide cardiovascular health for 1 billion people by 2030.
  • 2020-21: UPL joins The Heart Fund’s One Billion Hearts Platform to provide cardiovascular health for 1 billion people by 2030.
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