UPL Ltd

About [ edit ]

UPL is principally engaged in the business of agrochemicals, industrial chemicals, chemical intermediates, speciality chemicals and production and sale of field crops and vegetable seeds.

Key Points [ edit ]
  • Market Cap 56,792 Cr.
  • Current Price 743
  • High / Low 764 / 336
  • Stock P/E 250
  • Book Value 102
  • Dividend Yield 0.81 %
  • ROCE 8.36 %
  • ROE 2.88 %
  • Face Value 2.00

Pros

  • Company has been maintaining a healthy dividend payout of 182.68%

Cons

  • Stock is trading at 7.29 times its book value
  • Company has a low return on equity of 4.47% for last 3 years.
  • Company's cost of borrowing seems high
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
2,305 2,275 2,216 1,864 2,337 2,771 2,502 2,031 2,651 3,162 2,921 2,611
1,952 2,019 2,036 1,814 2,075 2,435 2,024 1,902 2,107 2,695 2,458 2,465
Operating Profit 353 256 180 50 262 336 478 129 544 467 463 146
OPM % 15% 11% 8% 3% 11% 12% 19% 6% 21% 15% 16% 6%
Other Income 74 433 15 34 21 491 2 -18 40 22 32 4
Interest 66 68 1 50 62 74 64 72 83 76 75 73
Depreciation 174 176 181 193 204 219 228 240 234 237 245 261
Profit before tax 187 445 13 -159 17 534 188 -201 267 176 175 -184
Tax % 29% 22% 23% 46% 24% 20% 23% 37% 44% 41% 43% 28%
Net Profit 133 348 10 -86 13 429 145 -126 149 104 99 -132
EPS in Rs 1.74 4.55 0.13 -1.13 0.17 5.62 1.90 -1.65 1.95 1.36 1.30 -1.73

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
2,453 2,911 3,316 3,939 4,968 5,335 5,981 6,939 7,263 8,660 9,641 11,345
2,178 2,446 2,845 3,513 4,307 4,793 5,143 6,011 6,314 7,825 8,436 9,725
Operating Profit 275 465 471 427 661 542 838 928 949 835 1,205 1,620
OPM % 11% 16% 14% 11% 13% 10% 14% 13% 13% 10% 12% 14%
Other Income 174 154 144 130 302 260 481 294 428 560 496 98
Interest 93 294 164 101 242 35 192 149 135 185 272 307
Depreciation 108 115 143 158 169 187 619 655 666 724 891 977
Profit before tax 248 210 307 297 552 581 508 418 576 486 538 434
Tax % 27% 25% 26% 30% 25% 20% 24% 41% 5% 17% 14% 49%
Net Profit 181 158 227 208 416 463 385 245 548 405 461 220
EPS in Rs 2.75 2.27 3.28 3.13 6.47 7.21 5.99 3.22 7.19 5.30 6.03 2.88
Dividend Payout % 48% 59% 51% 53% 41% 46% 56% 144% 74% 101% 100% 348%
Compounded Sales Growth
10 Years:15%
5 Years:14%
3 Years:16%
TTM:18%
Compounded Profit Growth
10 Years:5%
5 Years:-10%
3 Years:-26%
TTM:-52%
Stock Price CAGR
10 Years:21%
5 Years:14%
3 Years:16%
1 Year:96%
Return on Equity
10 Years:7%
5 Years:5%
3 Years:4%
Last Year:3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
88 92 92 89 86 86 86 183 102 102 153 153
Reserves 1,834 2,166 3,414 3,269 3,222 3,438 3,864 7,567 7,867 7,870 7,871 7,633
Borrowings 2,154 2,613 1,594 2,038 1,420 1,377 1,650 848 1,122 1,638 1,112 1,173
866 981 1,164 1,620 2,355 2,739 6,159 2,831 2,959 4,293 4,692 6,324
Total Liabilities 4,942 5,852 6,264 7,016 7,083 7,639 11,759 11,347 12,050 13,903 13,828 15,283
973 938 1,375 1,350 1,572 1,649 5,397 5,116 4,902 4,981 5,354 5,682
CWIP 29 43 114 236 118 370 209 272 663 889 886 638
Investments 688 1,012 782 904 671 873 588 593 594 1,441 1,406 1,441
3,252 3,859 3,993 4,525 4,721 4,747 5,565 5,366 5,891 6,592 6,182 7,522
Total Assets 4,942 5,852 6,264 7,016 7,083 7,639 11,759 11,347 12,050 13,903 13,828 15,283

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
452 266 20 190 1,139 497 -63 1,021 497 664 1,773 1,820
-54 -566 1,066 -63 -84 -131 364 268 -305 -439 -435 -1,175
-45 269 -1,256 -21 -1,199 -459 -322 -1,295 -158 -241 -1,277 -502
Net Cash Flow 353 -31 -170 105 -144 -93 -21 -6 34 -16 61 143

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 9% 11% 9% 7% 16% 13% 13% 8% 8% 7% 9% 8%
Debtor Days 111 129 153 167 104 97 114 103 101 115 120 130
Inventory Turnover 3.68 4.89 4.19 4.19 4.09 3.14 2.70 2.96 2.96 3.28 3.74 3.84

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
27.75 27.91 27.92 27.89 27.89 27.89 27.89 27.89 27.88 27.88 27.85 27.96
40.70 42.37 41.94 42.80 42.95 43.86 43.51 41.92 40.57 37.16 35.36 37.83
9.26 8.62 9.55 9.10 9.56 10.62 11.13 12.27 12.85 15.92 16.33 15.83
0.24 0.35 0.35 0.35 0.35 0.31 0.31 0.31 0.31 0.31 0.31 0.10
22.05 20.75 20.24 19.86 19.25 17.32 17.16 17.61 18.39 18.73 20.15 18.28

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