UPL logo

UPL share price

NSE: UPLBSE: 512070Fertilizers & AgrochemicalsMid Cap

UPL Limited · Formerly United Phosphorus · Face value ₹2 · Listed Mar 1985 on BSE, Jan 2004 on NSE
Last close ₹541.95up ₹5.55 (1.03%)BSE ₹542.00

Share price at the NSE close on 29 Oct 2026. Previous close ₹536.40.

29 Oct: open ₹535.85, high ₹547.95, low ₹528.85

52-week range of traded prices to 29 Oct 2026
₹476.45Low, 8 Oct 2026₹812.20High, 2 Jan 2026
Market cap
₹45,750 Cr187th largest listed
P/E
22.65
P/B
1.32
Dividend yield
1.11%
ROE
6.3%
ROCE
9.4%
Debt to equity
0.53
Volume, NSE
19,58,83850.1% delivered

UPL share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

−24.7%over a year · Nifty Chemicals −8.8% · Nifty 500 −8.4%

Results20-session average 21,80,681 shares a day, 51.4% delivered

About UPL

UPL Limited is an agricultural company based in India that makes and sells crop protection products, seeds, post-harvest treatments and specialty chemicals.12 Its crop protection range covers herbicides, fungicides, insecticides and biological products, sold in India and abroad, mainly through distributors and in some regions through cooperatives or directly to growers.345 Its specialty chemicals serve industries such as lubricant additives, flame retardants, mining and pharmaceuticals.6

The business runs as 4 platforms: UPL Corporation for crop protection outside India, UPL Sustainable Agri Solutions (UPL SAS) for crop protection in India, Advanta Enterprises for seeds and post-harvest treatment, and SUPERFORM Chemistries for specialty chemicals and contract manufacturing.5 It has 43 manufacturing facilities and 32 seed processing sites, more than 16,000 product registrations and more than 3,200 patents, and reaches more than 140 countries.789 Its plants in India are in Gujarat, Maharashtra, Punjab, West Bengal, Karnataka and Jammu, and it had 12,399 employees at the end of March 2026.1011

It was incorporated in 1985.4 In September 2025, Advanta took over DECCO, a post-harvest treatment business already under the group's control.1213 The promoter group held 33.51% of the shares on 20 Feb 2026, and the Chairman, Jaidev R. Shroff, is a promoter.141516 UPL Limited owns 78.21% of Advanta and 100% of SUPERFORM.1718

UPL key points

Results

  • In the quarter to Jun 2026, revenue rose 10% to ₹10,181 crore (volumes fell 3%, prices rose 3% and exchange rates added 10%), and EBITDA (earnings before interest, tax, depreciation and amortisation) rose 15% to ₹1,500 crore, a margin of 14.7%.1920
  • PATMI (profit after tax belonging to UPL's shareholders) was ₹10 crore in the quarter to Jun 2026, against a loss of ₹88 crore a year earlier.21
  • In the year to Mar 2026, consolidated revenue rose 11% to ₹51,839 crore, EBITDA rose 18% to ₹9,588 crore and profit after tax (before minority holders' share) was ₹2,220 crore. The directors recommended a final dividend of ₹6 a share.222324
  • Net debt (borrowings less cash) was 2.4 times EBITDA at the end of June 2026, against 2.6 times a year earlier.1820

Business segments

  • Revenue by platform, before removing sales between platforms25
    Itemyear to Mar 2026year to Mar 2025
    UPL Corp₹38,277 crore₹34,381 crore
    SUPERFORM₹10,298 crore₹10,181 crore
    Advanta₹6,837 crore₹5,566 crore
    UPL SAS₹3,212 crore₹3,229 crore
  • The company says Advanta was the world's 10th largest seed company by consolidated revenue in the year to Mar 2026.1
  • SUPERFORM has the largest phosphorus and phosphorus derivative handling capacity in India, the company says, and its exports from India crossed ₹1,000 crore in the year to Mar 2026.6
  • In the quarter to Jun 2026, revenue grew 7% at UPL Corp, 26% at Advanta and 14% at SUPERFORM.26

Revenue mix

  • Advanta revenue by crop27
    Itemyear to Mar 2026
    Field corn40%
    Post-harvest treatment17%
    Grain and forage sorghum16%
    Sunflower and canola15%
    Vegetables and fresh corn10%

Where revenue comes from

  • Revenue by region28
    Itemyear to Mar 2026year to Mar 2025
    Latin America₹19,358 crore₹17,600 crore
    Rest of the world₹10,789 crore₹9,832 crore
    Europe₹8,167 crore₹7,189 crore
    North America₹7,182 crore₹6,065 crore
    India₹6,343 crore₹5,951 crore

Research and development

  • In the international crop protection business, products launched in the past 5 years made up 16% of revenue in the year to Mar 2026, against 14% a year earlier.29
  • The company stated in its annual report for the year to Mar 2026 that its crop protection pipeline (including 27 new molecules) has $4.4 billion of peak sales (top yearly sales, net of technical risk) and $1.5 billion expected by the year to Mar 2030.30
  • The company stated in its annual report for the year to Mar 2026 that Advanta has over 8,000 hybrids in development, with over 320 nearing commercialisation (launch) within 12 to 18 months.27

What the company expects

  • On its earnings call of 3 Aug 2026, the company said it expects revenue to grow 7% to 11% and EBITDA 10% to 14% in the year to Mar 2027. Its presentation assumed no further adverse weather and no major escalation in West Asia.313233
  • On its earnings call of 3 Aug 2026, the company said it expects its international crop protection business to generate about $700 million of revenue from its sustainable solutions portfolio and $115 million from new product launches in the year to Mar 2027.3431
  • On its earnings call of 3 Aug 2026, the company said it targets net debt below 1.5 times EBITDA over the medium term.18
  • On its earnings call of 3 Aug 2026, the company said it expects SUPERFORM's revenue mix to move towards about 55% ag (agricultural) chemicals and 45% super specialty chemicals over the next 3 to 4 years.35

Restructuring and listings

  • On 20 Feb 2026, the board approved a scheme to combine the India and international crop protection businesses in UPL Global Sustainable Agri Solutions Limited, to be listed in India.36
  • In its exchange filing of 20 Feb 2026, the company said UPL Limited would stay listed; its annual report for the year to Mar 2026 says shareholders would also get shares in the new company.3728
  • BSE and NSE raised no objection to the scheme on 29 Jul 2026; the company said it still needs other regulatory approvals.38
  • Advanta Enterprises filed for an initial public offering (first sale of shares to the public) on 19 Jan 2026, with UPL Limited proposing to sell up to 28,107,578 shares; SEBI approved it on 3 Jun 2026.272819

Recent events

  • On 2 Sep 2026, CRISIL reaffirmed its CRISIL AA+ credit rating (an opinion on ability to repay debt) on UPL Limited's long-term bank facilities and changed the outlook from Negative to Stable.39
  • On 15 Aug 2026, the company said Advanta was acquiring Misr Hytech Seed International, an Egyptian seed company, for about $110 million in cash, subject to competition approvals, expected to complete by 31 Jan 2027.4041
  • On 3 Aug 2026, the company said Mike Frank had decided to step down as CEO of UPL Corp, its global crop protection business.42

Last updated

All 42 sources, each with its page
  1. 1. Annual report, 15 Jul 2026, page 11
  2. 2. Annual report, 15 Jul 2026, page 1
  3. 3. Annual report, 15 Jul 2026, page 12
  4. 4. Annual report, 15 Jul 2026, page 91
  5. 5. Annual report, 15 Jul 2026, page 62
  6. 6. Annual report, 15 Jul 2026, page 23
  7. 7. Annual report, 15 Jul 2026, page 9
  8. 8. Annual report, 15 Jul 2026, page 5
  9. 9. Annual report, 15 Jul 2026, page 34
  10. 10. Annual report, 15 Jul 2026, page 88
  11. 11. Annual report, 15 Jul 2026, page 66
  12. 12. Annual report, 15 Jul 2026, page 20
  13. 13. Investor presentation, 3 Aug 2026, page 25
  14. 14. Exchange filing, 20 Feb 2026, page 5
  15. 15. Annual report, 15 Jul 2026, page 79
  16. 16. Annual report, 15 Jul 2026, page 73
  17. 17. Annual report, 15 Jul 2026, page 19
  18. 18. Earnings call, 3 Aug 2026, page 5
  19. 19. Earnings call, 3 Aug 2026, page 3
  20. 20. Investor presentation, 3 Aug 2026, page 8
  21. 21. Earnings call, 3 Aug 2026, page 4
  22. 22. Annual report, 15 Jul 2026, page 4
  23. 23. Annual report, 15 Jul 2026, page 26
  24. 24. Annual report, 15 Jul 2026, page 68
  25. 25. Annual report, 15 Jul 2026, page 63
  26. 26. Investor presentation, 3 Aug 2026, page 11
  27. 27. Annual report, 15 Jul 2026, page 21
  28. 28. Annual report, 15 Jul 2026, page 67
  29. 29. Annual report, 15 Jul 2026, page 35
  30. 30. Annual report, 15 Jul 2026, page 15
  31. 31. Earnings call, 3 Aug 2026, page 8
  32. 32. Earnings call, 3 Aug 2026, page 9
  33. 33. Investor presentation, 3 Aug 2026, page 29
  34. 34. Earnings call, 3 Aug 2026, page 7
  35. 35. Earnings call, 3 Aug 2026, page 14
  36. 36. Exchange filing, 20 Feb 2026, page 1
  37. 37. Exchange filing, 20 Feb 2026, page 4
  38. 38. Exchange filing, 29 Jul 2026, page 1
  39. 39. Exchange filing, 2 Sep 2026, page 1
  40. 40. Exchange filing, 15 Aug 2026, page 1
  41. 41. Exchange filing, 15 Aug 2026, page 2
  42. 42. Earnings call, 3 Aug 2026, page 16

Results

Consolidated; ₹ crore.UPL quarterly results

Revenue growth, 12 months
+12.9%
Net profit growth, 12 months
+69.3%

Quarter to Jun 2026, against the quarter before

Revenue
₹10,181 Crdown 44.47%
Net profit
−₹73 CrQuarter to Mar 2026: ₹1,294 Cr
Net margin
−0.7%

Revenue by quarter

₹11,090 CrSep 24₹10,907 CrDec 24₹15,573 CrMar 25₹9,216 CrJun 25₹12,019 CrSep 25₹12,269 CrDec 25₹18,335 CrMar 26₹10,181 CrJun 26
Peak revenue ₹18,335 Cr, quarter to Mar 2026; lowest ₹9,216 Cr, quarter to Jun 2025

Net profit by quarter, a loss in red

  • Net profit
  • Loss
−₹585 CrSep 24₹853 CrDec 24₹1,079 CrMar 25−₹176 CrJun 25₹612 CrSep 25₹490 CrDec 25₹1,294 CrMar 26−₹73 CrJun 26
A loss in the quarter to Jun 2026, −₹73 CrA loss in 3 of the 8 quarters shown
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue11,09010,90715,5739,21612,01912,26918,33510,181
Net profit−5858531,079−1766124901,294−73
Net margin−5.3%7.8%6.9%−1.9%5.1%4.0%7.1%−0.7%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Crop protection₹42,399 Crup 6.54%81.5%
  • Seeds & Post harvest₹6,830 Cr13.1%
  • Non agro₹2,803 Crup 17.62%5.4%
The pill is the change in revenue on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history.UPL PE ratio and valuation

Price to earnings

At or below today's level on 59% of 2,099 trading days over the last 10 years.

LowestHighest
Its median20.73Industry median18.71
Price to book

At or below today's level on 4% of 1,871 trading days since Oct 2018.

LowestHighest
Its median2.06Industry median1.96
Dividend yield

At or below today's level on 57% of 2,395 trading days over the last 10 years.

LowestHighest
Its median1.01%Industry median0.52%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−9.7%+114.1%−58.3%1.1%
3 years−6.8%−21.8%+18.3%0.7%
5 years−1.4%−9.5%+7.9%1.0%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1, 3 and 5 years is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count. Earnings growth over 1 year includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the year to Mar 2025.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.UPL shareholding pattern

Shareholding by group

  • Promoters33.51%
  • Foreign institutions43.67%
  • Indian institutions14.31%
  • Governments0.01%
  • Individuals and others8.50%
Holder
Demuric Holdings Private LimitedPromoter22.03%
Uniphos Enterprises LimitedPromoter4.94%
Life Insurance Corporation of India with Sub AccountsInsurance companies4.33%
Suresight Ventures LimitedPromoter1.74%
Harmonic Ventures LimitedPromoter1.61%
Mfs International Growth FundForeign portfolio investors, category I1.60%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions −0.04 pts, Indian institutions −0.01 pts, mutual funds −0.29 pts.

Mutual fund holdings

165 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 111 of the 124 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 165 funds holding UPL

Bought for the first time
1
Bought again
1
Added
67
Cut
57
Held unchanged
38
Sold out
9
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 30 Oct 2025.UPL insider trading

Bought on the market Sold on the market
  • Others1 purchase, 0 sales₹0.63 CrNo saleNet₹0.63 Cr
  • Promoters and promoter group: no market trade
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

UPL competitors and peers

Pesticides & Agrochemicals, 34 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to UPL in market cap.Chemical companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
PI Industries logoPI IndustriesPIIND32,01327.482.85−16.6%−27.7%10.9%9.9%0.71%
Sumitomo Chemical India logoSumitomo Chemical IndiaSUMICHEM16,56729.644.48−2.6%+3.0%16.2%15.8%0.39%
Bayer Cropscience logoBayer CropscienceBAYERCROP14,78520.204.99−2.8%+23.6%25.2%26.2%4.56%
Sharda Cropchem logoSharda CropchemSHARDACROP6,1569.831.96+18.5%+49.1%22.2%22.3%2.20%
Dhanuka Agritech logoDhanuka AgritechDHANUKA3,90014.552.32−5.6%−11.7%17.4%18.5%0.23%
Rallis India logoRallis IndiaRALLIS3,68618.711.68+6.8%+11.9%9.3%11.3%1.58%
NACL Industries logoNACL IndustriesNACLIND2,710219.093.97+11.9%–2.2%7.4%0.00%
Bhagiradha Chemicals & Industries logoBhagiradha Chemicals & IndustriesBHAGCHEM2,58894.033.71+34.1%+126.9%4.0%5.7%0.08%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.UPL dividend history

Dividend per share, ₹, restated for later splits and bonuses

4.7Mar 175.3Mar 185.3Mar 196Mar 2010Mar 2110Mar 2210Mar 231Mar 246Mar 256Mar 26
Highest ₹10.00 a share, years to Mar 2021, Mar 2022 and Mar 2023.
Ex-dateTypePer share
17 Jul 2026Final₹6.00
11 Jul 2025Final₹6.00
12 Aug 2024Final₹1.00
3 Aug 2023Final₹10.00
27 Jul 2022Final₹10.00
14 Jul 2021Final₹10.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.UPL announcements

UPL share price by year

Each calendar year to 2025.UPL share price history

YearClose at year endChangeHighest closeLowest close
2025795.15+58.7%795.15500.50
2024501.00−14.7%621.20451.90
2023587.25−18.0%770.35532.05
2022716.15−4.1%841.00613.65
2021747.10+60.2%853.55469.30
2020466.35−20.2%604.55254.60
2019584.50+15.6%698.35497.77
2018505.50−0.6%549.50366.40
2017508.47+17.9%596.07436.67
2016431.33+47.7%480.97248.97
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
28 Oct 2026510.55537.95505.30536.40525.6946,48,07947.3%
27 Oct 2026496.25519.00494.05519.00505.1423,36,39754.8%
26 Oct 2026508.00508.65496.45497.70500.268,19,62331.4%
23 Oct 2026514.10516.20501.20508.65505.969,73,84948.8%
22 Oct 2026511.65517.40504.00514.10512.1212,15,81952.1%
21 Oct 2026530.35532.70508.65514.50515.5920,59,06058.5%
19 Oct 2026530.50536.15526.15530.35531.965,98,40547.9%
16 Oct 2026541.05543.90532.55534.65537.4514,34,86156.8%
15 Oct 2026541.65549.65539.00541.05543.2617,00,66549.5%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Bonus share history

Ex-dateEventPrice factorWhat happened
26 Nov 2024Rights issue–Shareholders were offered new shares. Noted, not adjusted for.
2 Jul 2019Bonus0.6667Holders received 1 bonus share for every 2 held.
31 Oct 2008Price move–Between two trading sessions the price moved by a fifth or more. The Nifty 500 moved 5% or more the same way over the same sessions. Not adjusted for.
29 Oct 2008Bonus0.5000Holders received 1 bonus share for every 1 held.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Any other event is noted and not adjusted for.

Company details