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UPL - Fundamental Analysis: Financial Health & Valuation

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Rating: 3.2

Last Updated Time : 19 Mar 26, 07:11 pm

Fundamental Rating: 3.2

Stock Code UPL Market Cap 53,313 Cr. Current Price 632 ₹ High / Low 812 ₹
Stock P/E 106 Book Value 162 ₹ Dividend Yield 0.95 % ROCE 1.26 %
ROE 8.20 % Face Value 2.00 ₹ DMA 50 685 ₹ DMA 200 694 ₹
Chg in FII Hold 3.31 % Chg in DII Hold -1.05 % PAT Qtr 39.1 Cr. PAT Prev Qtr 416 Cr.
RSI 41.2 MACD -26.5 Volume 15,34,268 Avg Vol 1Wk 17,72,595
Low price 580 ₹ High price 812 ₹ PEG Ratio -8.82 Debt to equity 0.07
52w Index 22.3 % Qtr Profit Var -93.7 % EPS 25.6 ₹ Industry PE 22.2

📊 Financials

  • Revenue Growth: Weak, PAT dropped sharply to 39.1 Cr from 416 Cr
  • Profit Margins: EPS at 25.6 ₹, showing profitability but under heavy pressure
  • Debt Ratios: Debt-to-equity at 0.07, very low leverage
  • Cash Flows: Likely strained due to steep profit decline
  • Return Metrics: ROCE 1.26% and ROE 8.20% indicate poor efficiency

💹 Valuation

  • P/E Ratio: 106, extremely high compared to industry average (22.2), suggesting severe overvaluation
  • P/B Ratio: ~3.9 (Current Price / Book Value), moderate
  • PEG Ratio: -8.82, reflecting weak growth prospects
  • Intrinsic Value: Overvalued given declining profitability

🏢 Business Model & Health

  • Business Model: Agrochemicals and crop protection solutions, global presence
  • Competitive Advantage: Diversified product portfolio, but profitability under stress
  • Overall Health: Financially stable with low debt, but efficiency metrics are weak

🎯 Entry Zone Recommendation

  • Entry Zone: Attractive near 600–630 ₹ levels (close to support)
  • Long-Term Holding: Suitable only for patient investors; dividend yield (0.95%) adds minor stability


✅ Positive

  • Low debt-to-equity ratio (0.07), ensuring financial stability
  • Dividend yield of 0.95% provides investor returns
  • FII holdings increased (+3.31%), showing foreign investor confidence

⚠️ Limitation

  • Quarterly PAT dropped drastically (39.1 Cr vs 416 Cr)
  • ROCE (1.26%) and ROE (8.20%) remain weak
  • P/E ratio extremely high compared to industry peers

📉 Company Negative News

  • DII holdings decreased (-1.05%), showing reduced domestic institutional support
  • Technical indicators (RSI 41.2, MACD -26.5) suggest weak momentum

📈 Company Positive News

  • FII holdings increased (+3.31%), showing strong foreign support
  • Dividend yield provides some stability despite weak earnings

🏭 Industry

  • Agrochemicals industry P/E: 22.2, much lower than UPL’s valuation
  • Sector demand driven by global agriculture and crop protection needs

🔎 Conclusion

  • UPL is financially stable with low debt but faces severe profitability challenges
  • Valuation is extremely expensive compared to industry peers, with weak efficiency metrics
  • Entry near 600–630 ₹ may offer value for cautious investors, but long-term holding requires patience and risk tolerance

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