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| 05 March, 2021, 12:36 AM IST | E-Paper
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UPL Ltd.

  • 615.451.85 (0.30%)
  • Volume: 1,41,24,256
  • Closed
  • Last Updated On: 04 Mar, 2021, 03:59 PM IST
OPEN TRADING A/C
  • Overview
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  • Financials
  • Technicals
  • Peers
  • Shareholdings
  • MF
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Insights

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  • The cash flows are robust enough to take care of the debt taken on due to the take-over of Arysta. The pre-payment of a part of the long term debt, as done in recently, should help in reducing the interest cost.

  • By going global, the company has taken a step toward becoming a agriculture solution provider from being just a producer of agrochemicals. Also there is a de-risking of the business model from uncertainty of weather with its presence in different regions across the globe. In Q3, weather in Northern America pushed demand for one for Glufosinate.

  • Earlier in January 2020, IT raids were conducted on the company. In October 2020, KPMG Mauritius, auditors of its subsidiary UPL Corp, resigned. In December 2020, whistle-blower has alleged that promoters siphoned off funds from company.

  • Some of the key markets of UPL in Latin America have an inherent problem of adverse currency movements against the US dollar. Whether the company would be able to pass on the current headwind, every time the LATAM currencies weaken, is still to be seen. This brings in higher elements of currency risk in the earnings.

InsightsUPL Ltd.

  • Debt reduction

    The cash flows are robust enough to take care of the debt taken on due to the take-over of Arysta. The pre-payment of a part of the long term debt, as done in recently, should help in reducing the interest cost.

  • De-risking weather and climate

    By going global, the company has taken a step toward becoming a agriculture solution provider from being just a producer of agrochemicals. Also there is a de-risking of the business model from uncertainty of weather with its presence in different regions across the globe. In Q3, weather in Northern America pushed demand for one for Glufosinate.

  • Recurring corporate governance issues

    Earlier in January 2020, IT raids were conducted on the company. In October 2020, KPMG Mauritius, auditors of its subsidiary UPL Corp, resigned. In December 2020, whistle-blower has alleged that promoters siphoned off funds from company.

  • Currency risks from Latin America

    Some of the key markets of UPL in Latin America have an inherent problem of adverse currency movements against the US dollar. Whether the company would be able to pass on the current headwind, every time the LATAM currencies weaken, is still to be seen. This brings in higher elements of currency risk in the earnings.

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Key Metrics

  • PE Ratio

    PE Ratio

    This is a ratio arrived at by dividing the current market price of a stock by its latest (annual or annualized) earnings per share. Here we have taken the TTM (trailing twelve months) adjusted earnings per share.

    (x)
    19.39
  • EPS - TTM

    EPS - TTM

    Earnings per share (TTM) tells the profit after tax earned on a per share basis by a stock over the last twelve months or four quarters.

    (₹)
    31.74
  • MCap

    MCap

    MCap or Market capitalization of a stock is calculated by multiplying the total number of shares outstanding of that particular stock with its current market price.

    (₹ Cr.)
    46,851.27
  • Sectoral MCap Rank

    Sectoral MCap Rank

    This is the ranking of a company within its sector based on MCap or Market capitalization. Higher the market capitalization of a company, higher the rank it is assigned.

    1
  • PB Ratio

    PB Ratio

    Price to Book represents the ratio of current market price of a stock to its book value per share. The book value itself is arrived at by dividing the net worth of a company by the total number of shares outstanding of the company at that time.

    (x)
    2.09
  • Div Yield

    Dividend Yield

    Dividend Yield calculates the amount of full year dividend declared by a company as a percentage of the current market price of a stock. All other things being equal, higher the dividend yield of the stock, the better it is for investors.

    (%)
    0.97
  • Face Value

    Face Value

    Face value of a stock is the value ascribed to the stock as per the balance sheet of the company. The dividend declared by a company is usually declared as a percentage of face value.

    (₹)
    2.00
  • Beta

    Beta

    1 Month2.64
    3 Months1.21
    6 Months1.02
    1 Year1.19
    3 Years1.28

    2.64
  • VWAP

    VWAP

    Volume Weighted Average Price represents the average price of a security over a particular time period (example one trading day) weighted by the volume traded at each price point.

    (₹)
    618.85
  • 52W H/L

    52W H/L

    This represents the 52 week high and low price of the security. It is also the 1 year high and low of the security. This represents the highest and lowest price touched by the security during the past 52 weeks or 1 year including today.

    (₹)
    631.45 / 240.15

Returns

  • 1 Day0.3%
  • 1 Week3.79%
  • 1 Month12.3%
  • 3 Months35.06%
  • 1 Year20.3%
  • 3 Years29.25%
  • 5 Years107.55%

Financials

  • Income (P&L)
  • Balance Sheet
  • Cash Flow
  • Ratios
  • MD&A
  • Insights

    • Beating 3 Yr Revenue CAGR

      Company's annual revenue growth of 62.43% outperformed its 3 year CAGR of 28.54%. (Source: Consolidated Financials)
    • Employee & Interest Expense

      Company has spent 4.14% of its operating revenues towards interest expenses and 9.48% towards employee cost in the year ending Mar 31, 2020. (Source: Consolidated Financials)
    Quarterly | AnnualDec 2020Sep 2020Jun 2020Mar 2020Dec 2019
    Total Income9,193.009,014.007,900.0011,162.008,912.00
    Total Income Growth (%)1.9914.10-29.2225.2513.66
    Total Expenses7,388.008,016.006,548.0010,003.007,360.00
    Total Expenses Growth (%)-7.8322.42-34.5435.911.06
    EBIT1,805.00998.001,352.001,159.001,552.00
    EBIT Growth (%)80.86-26.1816.65-25.32178.14
    Profit after Tax (PAT)794.00463.00551.00617.00701.00
    PAT Growth (%)71.49-15.97-10.70-11.98687.64
    EBIT Margin (%)19.6311.0717.1110.3817.41
    Net Profit Margin (%)8.645.146.975.537.87
    Basic EPS (₹)10.386.077.208.089.16
    Quarterly | AnnualDec 2020Sep 2020Jun 2020Mar 2020Dec 2019
    Total Income2,953.003,184.002,691.002,023.002,504.00
    Total Income Growth (%)-7.2618.3233.02-19.21-23.24
    Total Expenses2,703.002,932.002,341.002,152.002,252.00
    Total Expenses Growth (%)-7.8125.258.78-4.44-15.15
    EBIT250.00252.00350.00-129.00252.00
    EBIT Growth (%)-0.79-28.00--151.19-58.55
    Profit after Tax (PAT)99.00104.00149.00-126.00145.00
    PAT Growth (%)-4.81-30.20--186.90-66.20
    EBIT Margin (%)8.477.9113.01-6.3810.06
    Net Profit Margin (%)3.353.275.54-6.235.79
    Basic EPS (₹)1.301.361.95-1.651.89
    Quarterly | Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Total Revenue35,859.0022,077.0017,792.0016,756.0014,364.00
    Total Revenue Growth (%)62.4324.086.1816.6518.83
    Total Expenses32,475.0019,867.0015,331.0014,734.0013,033.00
    Total Expenses Growth (%)63.4629.594.0513.0522.15
    Profit after Tax (PAT)1,776.001,491.002,022.001,727.00940.00
    PAT Growth (%)19.11-26.2617.0883.72-17.83
    Operating Profit Margin (%)13.6014.5318.6616.9014.48
    Net Profit Margin (%)4.966.8211.6310.586.69
    Basic EPS (₹)23.2419.5239.7934.0718.54
    Quarterly | Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Total Revenue10,147.009,220.007,698.007,264.006,441.31
    Total Revenue Growth (%)10.0519.775.9712.7715.53
    Total Expenses9,599.008,730.007,115.006,800.005,595.05
    Total Expenses Growth (%)9.9522.704.6321.5412.02
    Profit after Tax (PAT)461.00405.00548.00245.00705.71
    PAT Growth (%)13.83-26.09123.67-65.2852.31
    Operating Profit Margin (%)8.507.799.888.8317.36
    Net Profit Margin (%)4.784.677.543.5311.79
    Basic EPS (₹)6.037.9610.784.8416.47

    All figures in Rs Cr, unless mentioned otherwise

  • Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Total Assets70,083.0063,166.0023,043.0020,381.0016,988.00
    Total Assets Growth (%)10.95174.1213.0619.9718.76
    Total Liabilities47,489.0044,997.0013,855.0012,951.0011,055.00
    Total Liabilities Growth (%)5.54224.776.9817.1531.61
    Total Equity19,608.0018,169.009,188.007,348.005,933.00
    Total Equity Growth (%)7.9297.7525.0423.850.48
    Current Ratio (x)1.751.641.971.951.37
    Total Debt to Equity (x)1.761.960.710.832.28
    Contingent Liabilities785.00550.00593.00648.00824.00
    Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Total Assets13,828.0013,903.0012,050.0011,347.008,328.24
    Total Assets Growth (%)-0.5415.386.2036.259.02
    Total Liabilities5,804.005,931.004,081.003,597.004,312.51
    Total Liabilities Growth (%)-2.1445.3313.46-16.594.79
    Total Equity8,024.007,972.007,969.007,668.004,015.73
    Total Equity Growth (%)0.650.043.9390.9513.95
    Current Ratio (x)1.121.141.431.561.24
    Total Debt to Equity (x)0.120.170.120.100.34
    Contingent Liabilities685.00573.00403.00690.002,552.39

    All figures in Rs Cr, unless mentioned otherwise

  • Insights

    • Decrease in Cash from Investing

      Company has used Rs 2643.0 cr for investing activities which is an YoY decrease of 91.45%. (Source: Consolidated Financials)
    Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Net Cash flow from Operating Activities8,739.002,356.002,839.002,585.001,396.00
    Net Cash used in Investing Activities-2,643.00-30,920.00-2,093.00-999.00-1,719.00
    Net Cash flow from Financing Activities-2,175.0028,894.00-801.00140.00469.00
    Net Cash Flow3,898.00-32.00-18.001,703.00131.00
    Closing Cash & Cash Equivalent6,724.002,826.002,859.002,880.001,177.00
    Closing Cash & Cash Equivalent Growth (%)137.93-1.15-0.73144.6920.91
    Total Debt/ CFO (x)3.2812.252.292.343.42
    Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Net Cash flow from Operating Activities1,773.00664.00471.001,021.00-47.06
    Net Cash used in Investing Activities-435.00-439.00-279.00268.00351.70
    Net Cash flow from Financing Activities-1,277.00-241.00-158.00-1,295.00-326.70
    Net Cash Flow61.00-16.0034.00-6.00-22.06
    Closing Cash & Cash Equivalent138.0077.0093.0059.0066.71
    Closing Cash & Cash Equivalent Growth (%)79.22-17.2057.63-11.56-24.85
    Total Debt/ CFO (x)0.562.062.110.78-29.28

    All figures in Rs Cr, unless mentioned otherwise

  • Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Return on Equity (%)10.8910.1322.0523.6044.93
    Return on Capital Employed (%)9.116.7621.0620.6423.07
    Return on Assets (%)2.532.368.778.475.53
    Interest Coverage Ratio (x)3.283.294.143.752.89
    Asset Turnover Ratio (x)51.0134.5775.4180.0382.69
    Price to Earnings (x)14.0632.7918.3821.2321.88
    Price to Book (x)1.533.314.055.019.82
    EV/EBITDA (x)7.3019.3010.4011.658.91
    EBITDA Margin (%)19.2318.5622.5521.0219.29
    Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Return on Equity (%)5.745.086.873.1917.57
    Return on Capital Employed (%)9.397.948.106.9720.26
    Return on Assets (%)3.332.914.542.158.47
    Interest Coverage Ratio (x)3.013.655.324.115.39
    Asset Turnover Ratio (x)69.7262.2860.2761.1571.83
    Price to Earnings (x)54.35120.4868.03151.5229.07
    Price to Book (x)3.116.124.664.785.10
    EV/EBITDA (x)15.0835.7527.4629.5516.97
    EBITDA Margin (%)17.7416.1519.0518.2721.44
  • MANAGEMENT DISCUSSION AND ANALYSIS (FY 2019-20)

    • Structurally on growth path

      India’s crop protection industry is expected to be one of the fastest growing markets over the next 5 years. Herbicides and fungicides are expected to grow faster. Low consumption of agrochemicals in India (0.6 kg/ha versus 13 kg/ha and 5 kg/ha in China and the UK, respectively), relatively lower agricultural yields resulting in reduced agricultural exports and high losses due to diseases and pests are expected to structurally drive increasing agrochemical usage.

    • Marginal decline in overall market size

      The global market for conventional crop protection products (excluding herbicide tolerant and insect resistant seed, as well as non-crop agrochemicals) is estimated to have decreased marginally, by 0.8% in CY2019 to US$ 60 billion.

    • Inherent strength - low cost manufacturing and technical manpower

      Indian agrochemical exports (~55% of India’s aggregate sales in FY2020) were estimated to grow at a strong 16% y-o-y in FY2020 and are projected to log ~8% CAGR over next three financial years from an estimated US$ 3.66 billion in FY2020 to US$ 4.6 billion in FY2023. India’s capability in low-cost manufacturing, a strong presence in generic pesticide manufacturing, availability of technically trained manpower, seasonal domestic demand and overcapacity will drive growth in exports, especially to countries with similar crops and/or climatic conditions.

Financial InsightsUPL Ltd.

  • Income (P&L)
  • Cash Flow
    • Beating 3 Yr Revenue CAGR

      Company's annual revenue growth of 62.43% outperformed its 3 year CAGR of 28.54%. (Source: Consolidated Financials)

    • Employee & Interest Expense

      Company has spent 4.14% of its operating revenues towards interest expenses and 9.48% towards employee cost in the year ending Mar 31, 2020. (Source: Consolidated Financials)

    • Decrease in Cash from Investing

      Company has used Rs 2643.0 cr for investing activities which is an YoY decrease of 91.45%. (Source: Consolidated Financials)

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Technicals

  • Buy / Sell Signals
  • Price Analysis
  • Pivot Levels & ATR
  • Chart
  • Bullish / Bearish signals for UPL Ltd. basis selected technical indicators and moving average crossovers.

    Stochastic Crossover

    Bullish signal on weekly chart

    Appeared on: 26 Feb 2021

    Region: Equlibrium

    Last 4 Buy Signals:4 Dec 2020
    Date7 weeks Gain/Loss %
    4 Dec 202011.04%
    31 Jul 202011.87%
    29 May 202015.81%
    3 Apr 202044.03%

    Average price gain of 9.67% within 7 weeks of Bullish signal in last 10 years

  • 46%
    Positive Movement since
    1st Jan 2005 on basis
    53%
    Negative Movement since
    1st Jan 2005 on basis
    Exclude
  • Pivot Levels

    R1R2R3PIVOTS1S2S3
    Classic635.30645.10673.00617.20607.40589.30561.40

    Average True Range

    5 DAYS14 DAYS28 DAYS
    ATR29.6126.1423.27

Peer Comparison

  • Stock Performance
  • Ratio Performance
  • Insights

    • Stock Returns vs Nifty 100

      Stock gave a 3 year return of 28.86% as compared to Nifty 100 which gave a return of 39.2%. (as of last trading session)
    • 1D
    • 1W
    • 1M
    • 3M
    • 6M
    • 1Y
    • 5Y
  • Insights

    • Stock Returns vs Nifty 100

      Stock gave a 3 year return of 28.86% as compared to Nifty 100 which gave a return of 39.2%. (as of last trading session)

    Ratio Performance

    NAMEP/E (x)P/B (x)ROE %ROCE %ROA %Rev CAGR [3Yr]OPMNPMBasic EPSCurrent RatioTotal Debt/ Equity (x)Total Debt/ CFO (x)
    UPL 19.392.0810.899.112.5328.5413.606.0823.241.751.763.28
    PI Industries51.4213.1417.4320.1610.8013.7218.7113.5333.081.840.190.73
    Bayer Cropsc.50.3769.8216.6018.228.308.479.427.0614.031.870.342.97
    Sumitomo Chem46.9512.0716.7523.929.7141.7112.498.444.102.080.000.00
    Rallis India24.423.8313.1115.507.5410.7810.318.159.511.700.040.18
    Add More
    Annual Ratios (%)

    Choose from Peers

    • Bharat Rasayan
    • Dhanuka Agri
    • Sharda Cropchem
    • Meghmani Org
    • Astec Lifesc

    Choose from Stocks

    Peers InsightsUPL Ltd.

    • Stock Returns vs Nifty 100

      Stock gave a 3 year return of 28.86% as compared to Nifty 100 which gave a return of 39.2%. (as of last trading session)

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    Shareholding Pattern

    • QOQ Change
    • Total Shareholdings
    • Showing Shareholding as on 31 Dec 2020
      Category31 Dec 202030 Sep 202030 Jun 202031 Mar 2020
      Promoters27.8527.8827.8827.89
      Pledge0.001.921.927.96
      FII35.3637.1640.5741.92
      DII16.3415.9212.8612.27
      Mutual Funds4.585.204.544.15
      Others20.4519.0418.6917.92
    • Showing Shareholding as on 31 Dec 2020
      CategoryNo. of SharesPercentage% Change QoQ
      Promoters21,27,88,17327.85 %-0.03
      Pledge00.00 %-1.92
      FII27,00,86,60135.36 %-1.80
      DII12,48,45,79216.34 %0.42
      MF3,49,80,7884.58 %-0.62
      Others15,63,24,89020.45 %1.41

    MF Ownership

    MF Ownership as on 31 January 2021

    F&O Quote

    • Futures
    • Options
      • Expiry

      Price

      617.25-0.70 (-0.11%)

      OpenHighLowPrev CloseContracts TradedTurnover (₹ Lakhs)
      605.40634.20603.25617.9515,05484,161.19

    Corporate Actions

    • Board Meeting/AGM
    • Dividends
    • Others
    • Meeting DateAnnounced onPurposeDetails
      Jan 29, 2021Jan 20, 2021Board MeetingQuarterly Results
      Oct 30, 2020Oct 20, 2020Board MeetingQuarterly Results
      Aug 31, 2020Aug 04, 2020AGMBook closure from Aug 21, 2020 to Aug 31, 2020
      Jul 31, 2020Jul 27, 2020Board MeetingQuarterly Results
      May 22, 2020May 18, 2020Board MeetingAudited Results & Dividend
    • TypeDividendDividend per ShareEx-Dividend DateAnnounced on
      Final300%6.0Aug 19, 2020May 22, 2020
      Final400%8.0May 28, 2019May 17, 2019
      Final400%8.0Aug 09, 2018Apr 27, 2018
      Final350%7.0Jun 22, 2017Jun 14, 2017
      Final250%5.0Jun 16, 2016Apr 29, 2016
    • All TypesEx-DateRecord DateAnnounced onDetails
      BonusJul 02, 2019Jul 03, 2019May 17, 2019Bonus Ratio: 1 share(s) for every 2 shares held
      BonusOct 29, 2008Oct 31, 2008Jul 24, 2008Bonus Ratio: 1 share(s) for every 1 shares held
      SplitsSep 27, 2005Oct 05, 2005Jul 22, 2005Split: Old FV10.0| New FV:2.0
      RightsNov 13, 1995Dec 01, 1995Oct 21, 1995Rights ratio: 135 share for every 1 held at a price of Rs 20.0

    About UPL

    UPL Ltd., incorporated in the year 1985, is a Large Cap company (having a market cap of Rs 47,023.18 Crore) operating in Pesticides/Agro Chemicals sector. UPL Ltd. key Products/Revenue Segments include Agrochemicals, Export Incentives, Royalty Income, Sale of services, Other Operating Revenue for the year ending 31-Mar-2020. Show More

    • Executives
    • Auditors
    • AV

      Anand Vora

      Chief Financial Officer
      AA

      Arun Ashar

      Whole Time Director
      CP

      Carlos Pellicer

      Chief Operating Officer
      DL

      Diego Lopez Casanello

      Global Chief Operating Officer
      Show More
    • B S R & Co. LLP

    Key Indices Listed on

    Nifty 50, Nifty 100, Nifty 200, + 22 more

    Address

    3-11, G.I.D.C.,Vapi,Valsad District, Gujarat - 396195

    UPL Share Price Update

    UPL Ltd. share price moved up by 0.30% from its previous close of Rs 613.60. UPL Ltd. stock last traded price is 615.45

    Share PriceValue
    Today/Current/Last615.45
    Previous Day613.60

    Trending in Markets

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