UPL Ltd - Stock Valuation and Financial Performance

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

UPL Share Price

563.50 5.95 1.07%
as on 12-Jul'24 16:01

DeciZen - make an informed investing decision on UPL

Overall Rating
Bole Toh

1. Quality

2. Valuation

Undervalued

3. Price Trend

UPL stock performance -

mw4me loader
P/E Ratio (CD):
0.00
Market Cap:
42,296.7 Cr.
52-wk low:
448
52-wk high:
647

Is UPL Ltd an attractive stock to invest in?

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 Undervalued zone.

3. Is UPL Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of UPL Ltd is likely to Rise 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'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 14.3%18%15.6%19.6%17.6%8.3%6.8%8.8%11%11.2%-
Value Creation
Index
0.10.30.20.70.6-0.3-0.4-0.20.00.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 10,77112,09114,04816,31217,37821,83735,75638,69446,24053,57643,098
Sales YoY Gr.-12.3%16.2%16.1%6.5%25.7%63.7%8.2%19.5%15.9%-
Adj EPS 1418.31724.926.925.328.538.653.656.9-16
YoY Gr.-30.6%-7%46.6%8.1%-6.2%13%35.1%39.1%6.2%-
BVPS (₹) 81.691.232.496.5119.9192.4213234283.1357.8330.5
Adj Net
Profit
8991,1741,0931,8942,0571,9292,1802,9454,0964,274-1,200
Cash Flow from Ops. 1,4411,4091,3962,5852,8392,3568,7397,2126,4967,751-
Debt/CF from Ops. 2.32.33.82.52.312.43.33.34.43.4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 19.5%25.3%14.4%15.9%
Adj EPS 16.9%16.2%25.9%6.2%
BVPS17.9%24.5%18.9%26.4%
Share Price 10.2% -2.2% -12.2% -10.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
18.221.118.628.524.816.212.814.719.317.6-4.7
Op. Profit
Mgn %
18.619.518.619.720.218.619.922.12220.912.8
Net Profit
Mgn %
8.29.97.911.711.99.27.29.210.69.6-2.8
Debt to
Equity
0.60.62.50.90.721.51.11.311
Working Cap
Days
217224235242208267211200201199160
Cash Conv.
Cycle
7778868134824431263048

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 14.43%

Debt to equity has declined versus last 3 years average to 0.97

Return on Equity is Poor

Sales growth is not so good in last 4 quarters at -19.65%

Latest Financials - UPL Ltd.

Standalone Consolidated
TTM EPS (₹) 11.9 -16
TTM Sales (₹ Cr.) 5,398 43,098
BVPS (₹.) 100.3 330.5
Reserves (₹ Cr.) 7,380 24,657
P/BV 5.62 1.70
PE 47.47 0.00
From the Market
52 Week Low / High (₹) 448.00 / 647.00
All Time Low / High (₹) 0.05 / 864.75
Market Cap (₹ Cr.) 42,297
Equity (₹ Cr.) 150.1
Face Value (₹) 2
Industry PE 41.3

Management X-Ray of UPL:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* 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 (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales10,77112,09114,04816,31217,37821,83735,75638,69446,24053,576
Operating Expenses 8,7689,82711,65313,33113,88018,08028,98330,34336,72643,380
Manufacturing Costs1,4571,6521,8682,1342,3952,8643,6674,7046,0945,730
Material Costs5,4416,0166,7807,8168,11210,90418,74319,09622,07227,281
Employee Cost 9481,0431,4341,6271,7132,0953,3913,7124,6225,056
Other Costs 9221,1151,5711,7541,6602,2173,1822,8313,9385,313
Operating Profit 2,0032,2642,3952,9813,4983,7576,7738,3519,51410,196
Operating Profit Margin (%) 18.6%18.7%17.0%18.3%20.1%17.2%18.9%21.6%20.6%19.0%
Other Income 184206316495429332266259296477
Interest 5376327047827919981,6432,0602,2952,963
Depreciation 4074256766726758812,0122,1732,3592,547
Exceptional Items -85-3-129-81-63-451-623-238-324-170
Profit Before Tax 1,1571,4101,1171,9222,3051,7732,7644,1814,9665,150
Tax 222244165189275198586686529736
Profit After Tax 9351,1669521,7332,0301,5752,1783,4954,4374,414
PAT Margin (%) 8.7%9.6%6.8%10.6%11.7%7.2%6.1%9.0%9.6%8.2%
Adjusted EPS (₹)14.817.814.622.826.419.523.237.547.447.6
Dividend Payout Ratio (%)18%19%23%21%20%27%26%27%21%21%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 5,2475,8602,0907,3959,16914,71519,28320,88621,65526,838
Share Capital 8686861831021023,1393,139153150
Reserves 5,1625,7752,0047,2129,06714,61316,14417,74721,50226,688
Minority Interest1724444331934543312369346475585
Debt2,8612,7814,7716,0586,50728,86028,66923,66128,70824,349
Long Term Debt2,2541,6942,2665,3505,87326,38227,37122,14124,59123,130
Short Term Debt6071,0872,5057086342,4781,2981,5204,1171,219
Trade Payables2,6923,2123,9544,8755,6759,84710,23312,75916,55217,614
Others Liabilities 1,7872,3865,6201,3501,1445,5596,9337,7669,04111,530
Total Liabilities 12,75914,28416,47919,71122,51462,43568,43068,76580,60385,916

Fixed Assets

Gross Block7,6777,9849,73210,02511,22041,12345,99947,04050,06355,319
Accumulated Depreciation3,8563,9545,8705,9546,7838,97410,67712,27513,87016,606
Net Fixed Assets3,8214,0313,8624,0714,43732,14935,32234,76536,19338,713
CWIP 2285834847921,3191,8552,0732,1172,5012,818
Investments 7377643353781,0347085586181,9221,624
Inventories2,4802,9383,7874,1564,5389,1337,8509,42213,07813,985
Trade Receivables3,2083,7935,1005,6566,05611,67911,86712,14515,32818,224
Cash Equivalents 1,0231,0101,1892,8952,8942,8516,7524,8536,1206,097
Others Assets1,2621,1661,7221,7632,2364,0604,0084,8455,4614,455
Total Assets 12,75914,28416,47919,71122,51462,43568,43068,76580,60385,916

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 1,4411,4091,3962,5852,8392,3568,7397,2126,4967,751
PBT 1,2571,4181,3312,0222,4612,2102,7644,1814,9665,150
Adjustment 8478761,2729231,0101,5153,7443,9704,3015,232
Changes in Working Capital -397-553-70444-322-5643050-214-1767-1369
Tax Paid -176-278-442-341-249-354-819-725-1,004-1,262
Cash Flow From Investing Activity -418-331-1,719-999-2,093-30,920-2,643-2,101-3,819-1,490
Capex -566-775-1,012-1,203-1,404-1,553-1,935-2,065-2,565-2,289
Net Investments 178102-316-13-752-135-100-30-1,410681
Others -30342-39121763-29,232-608-6156118
Cash Flow From Financing Activity -1,680-991469140-80128,894-2,175-6,713-1,921-6,227
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -346-5503542,90033020,658-1,667-4,364-1,271-1,701
Interest Paid -425-739-586-711-717-1,007-1,646-1,655-1,941-2,345
Dividend Paid -121-183-229-228-369-424-457-458-922-750
Others -788481930-1,821-459,6671,595-2362,213-1,431
Net Cash Flow -657861461,726-553303,921-1,60275634
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)18.92123.9536.8624.6313.1914.0520.4422.4318.2
ROCE (%)19.4223.0317.9521.7120.949.299.613.4715.2615.7
Asset Turnover Ratio0.860.890.930.921.010.610.640.660.730.77
PAT to CFO Conversion(x)1.541.211.471.491.41.54.012.061.461.76
Working Capital Days
Receivable Days100106113118100126102969295
Inventory Days77828687749774697577
Payable Days161179193206237260196220242229

UPL Ltd Stock News

UPL Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of UPL on 12-Jul-2024 16:01 is ₹563.5.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Jul-2024 16:01 the market cap of UPL stood at ₹42,296.7.
The latest P/E ratio of UPL as of 12-Jul-2024 16:01 is 47.47.
The latest P/B ratio of UPL as of 12-Jul-2024 16:01 is 5.62.
The 52-week high of UPL is ₹647.0 and the 52-week low is ₹448.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of UPL is ₹5,398 ( Cr.) .

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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