UPL Limited Net Assets

Latest as of March 2026: Rs412.69 Billion INR ≈ $4.46 Billion USD

UPL Limited net assets. Based on the latest financial reports, UPL Limited (UPL) has net assets worth Rs412.69 Billion INR (≈ $4.46 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs952.05 Billion ≈ $10.30 Billion USD) and total liabilities (Rs539.36 Billion ≈ $5.83 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore UPL year-over-year net asset growth to track the company's year-over-year net asset growth rate.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs412.69 Billion
% of Total Assets	43.35%
Annual Growth Rate	20.71%
5-Year Change	40.81%
10-Year Change	455.44%
Growth Volatility	21.64

Net Assets of UPL Limited (2005–2026)

Net assets of UPL Limited from 2005 to 2026. This chart illustrates how UPL Limited's net assets have evolved over time, based on quarterly financial data. See UPL Limited net asset quality index to measure how much of total assets are equity-financed.

Annual Net Assets for UPL Limited (2005–2026)

The table below shows the annual net assets of UPL Limited from 2005 to 2026. For live market cap and overall valuation, see how much is UPL Limited worth.

Year	Net Assets	Change
2026-03-31	Rs412.69 Billion ≈ $4.46 Billion	+9.10%
2025-03-31	Rs378.26 Billion ≈ $4.09 Billion	+15.65%
2024-03-31	Rs327.06 Billion ≈ $3.54 Billion	-7.69%
2023-03-31	Rs354.29 Billion ≈ $3.83 Billion	+20.89%
2022-03-31	Rs293.08 Billion ≈ $3.17 Billion	+19.24%
2021-03-31	Rs245.80 Billion ≈ $2.66 Billion	+8.79%
2020-03-31	Rs225.93 Billion ≈ $2.44 Billion	+25.50%
2019-03-31	Rs180.03 Billion ≈ $1.95 Billion	+95.94%
2018-03-31	Rs91.88 Billion ≈ $993.65 Million	+23.66%
2017-03-31	Rs74.30 Billion ≈ $803.53 Million	+8.74%
2016-03-31	Rs68.33 Billion ≈ $738.97 Million	+15.72%
2015-03-31	Rs59.05 Billion ≈ $638.57 Million	+8.95%
2014-03-31	Rs54.19 Billion ≈ $586.10 Million	+11.07%
2013-03-31	Rs48.79 Billion ≈ $527.69 Million	+10.32%
2012-03-31	Rs44.23 Billion ≈ $478.33 Million	+18.14%
2011-03-31	Rs37.44 Billion ≈ $404.90 Million	+24.56%
2010-03-31	Rs30.06 Billion ≈ $325.07 Million	+12.05%
2009-03-31	Rs26.82 Billion ≈ $290.10 Million	+19.54%
2008-03-31	Rs22.44 Billion ≈ $242.67 Million	+49.57%
2007-03-31	Rs15.00 Billion ≈ $162.25 Million	+17.44%
2006-03-31	Rs12.78 Billion ≈ $138.16 Million	+61.12%
2005-03-31	Rs7.93 Billion ≈ $85.75 Million	--

Equity Component Analysis

This analysis shows how different components contribute to UPL Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 22246000000000.0% over the analyzed period, indicating profitable operations and earnings retention.

UPL Limited Net Assets Breakdown (March 2026)

UPL Limited net assets breakdown by equity component as of March 2026.

Component	Amount	Percentage
Retained Earnings	Rs222.46 Billion	64.12%
Common Stock	Rs1.69 Billion	0.49%
Other Components	Rs122.81 Billion	35.40%
Total Equity	Rs346.96 Billion	100.00%

UPL Limited Competitors by Market Cap

The table below lists competitors of UPL Limited ranked by their market capitalization.

Company	Market Cap
FORM.DE C.Y C.ADR 1/5/EO1 F:FCC0	$4.73 Billion
Shan Dong Dong-E E-Jiao Co Ltd SHE:000423	$4.73 Billion
Navin Fluorine International Limited NSE:NAVINFLUOR	$4.73 Billion
Angel Yeast Co Ltd SHG:600298	$4.73 Billion
Shanghai RAAS Blood Products Co Ltd Class A SHE:002252	$4.73 Billion
Meritage Corporation NYSE:MTH	$4.72 Billion
Shanghai Electric Power Co Ltd SHG:600021	$4.72 Billion
Charoen Pokphand Foods Public Company Limited BK:CPF	$4.72 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in UPL Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2025 to 2026, total equity changed from 321,990,000,000 to 346,960,000,000, a change of 24,970,000,000 (7.8%).
Net income of 19,220,000,000 contributed positively to equity growth.
Dividend payments of 4,780,000,000 reduced retained earnings.
New share issuances of 17,000,000,000 increased equity.
Other factors decreased equity by 6,470,000,000.

Equity Change Factors (2025 to 2026)

Factor	Impact	Contribution
Net Income	Rs19.22 Billion	+5.54%
Dividends Paid	Rs4.78 Billion	-1.38%
Share Issuances	Rs17.00 Billion	+4.9%
Other Changes	Rs-6.47 Billion	-1.86%
Total Change	Rs-	7.75%

Book Value vs Market Value Analysis

This analysis compares UPL Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 1.29x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 30.70x to 1.29x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2005-03-31	Rs16.87	Rs517.85	x
2006-03-31	Rs24.53	Rs517.85	x
2007-03-31	Rs24.81	Rs517.85	x
2008-03-31	Rs33.62	Rs517.85	x
2009-03-31	Rs38.51	Rs517.85	x
2010-03-31	Rs43.13	Rs517.85	x
2011-03-31	Rs55.48	Rs517.85	x
2012-03-31	Rs60.24	Rs517.85	x
2013-03-31	Rs68.46	Rs517.85	x
2014-03-31	Rs79.51	Rs517.85	x
2015-03-31	Rs91.15	Rs517.85	x
2016-03-31	Rs89.03	Rs517.85	x
2017-03-31	Rs96.82	Rs517.85	x
2018-03-31	Rs120.26	Rs517.85	x
2019-03-31	Rs191.66	Rs517.85	x
2020-03-31	Rs252.36	Rs517.85	x
2021-03-31	Rs273.36	Rs517.85	x
2022-03-31	Rs322.77	Rs517.85	x
2023-03-31	Rs391.28	Rs517.85	x
2024-03-31	Rs330.49	Rs517.85	x
2025-03-31	Rs377.21	Rs517.85	x
2026-03-31	Rs402.92	Rs517.85	x

Capital Efficiency Dashboard

This dashboard shows how efficiently UPL Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 5.54%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 3.71%
• Asset Turnover: 0.54x
• Equity Multiplier: 2.74x
Recent ROE (5.54%) is below the historical average (13.93%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2005	19.98%	11.16%	0.71x	2.53x	Rs785.24 Million
2006	17.06%	12.23%	0.53x	2.65x	Rs901.84 Million
2007	17.25%	11.16%	0.48x	3.20x	Rs1.08 Billion
2008	11.57%	7.36%	0.67x	2.36x	Rs350.94 Million
2009	17.40%	9.69%	0.74x	2.42x	Rs1.98 Billion
2010	17.16%	9.70%	0.76x	2.33x	Rs2.14 Billion
2011	15.59%	10.20%	0.69x	2.22x	Rs2.08 Billion
2012	14.27%	7.85%	0.73x	2.48x	Rs1.78 Billion
2013	15.98%	8.19%	0.73x	2.68x	Rs2.78 Billion
2014	18.10%	8.92%	0.83x	2.45x	Rs4.25 Billion
2015	19.52%	9.55%	0.84x	2.44x	Rs5.58 Billion
2016	13.84%	6.78%	0.82x	2.51x	Rs2.61 Billion
2017	23.35%	10.71%	0.79x	2.76x	Rs9.87 Billion
2018	22.05%	11.80%	0.74x	2.51x	Rs11.05 Billion
2019	10.18%	6.90%	0.34x	4.31x	Rs265.00 Million
2020	9.21%	5.01%	0.51x	3.63x	Rs-1.52 Billion
2021	13.75%	7.47%	0.55x	3.37x	Rs7.82 Billion
2022	14.70%	7.89%	0.56x	3.35x	Rs11.60 Billion
2023	11.96%	6.72%	0.60x	2.97x	Rs5.86 Billion
2024	-4.84%	-2.82%	0.49x	3.53x	Rs-36.81 Billion
2025	2.79%	1.94%	0.53x	2.73x	Rs-23.23 Billion
2026	5.54%	3.71%	0.54x	2.74x	Rs-15.48 Billion

Industry Comparison

This section compares UPL Limited's net assets metrics with peer companies in the Agricultural Inputs industry.

Industry Context

Industry: Agricultural Inputs
Average net assets among peers: $6,070,236,391
Average return on equity (ROE) among peers: 2.95%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
UPL Limited (UPL)	Rs412.69 Billion	19.98%	1.31x	$4.73 Billion
Agro Phos India Limited (AGROPHOS)	$520.47 Million	9.61%	1.50x	$4.74 Million
Astec LifeSciences Limited (ASTEC)	$970.25 Million	5.05%	0.85x	$133.97 Million
Bayer Cropscience Limited (BAYERCROP)	$4.51 Billion	20.95%	1.08x	$1.59 Billion
Best Agrolife Limited (BESTAGRO)	$7.58 Billion	9.23%	1.57x	$54.62 Million
Bhagiradha Chemicals & Industries Limited (BHAGCHEM)	$6.98 Billion	2.60%	0.60x	$262.50 Million
Bharat Rasayan Limited (BHARATRAS)	$12.75 Billion	11.43%	0.12x	$170.93 Million
Bohra Industries Limited (BOHRAIND)	$399.71 Million	-100.78%	2.57x	$1.48 Million
Bombay Super Hybrid Seeds Limited (BSHSL)	$289.37 Million	20.04%	1.51x	$96.77 Million
Chambal Fertilizers & Chemicals Limited (CHAMBLFERT)	$11.69 Billion	20.21%	2.28x	$1.65 Billion
Coromandel International Limited (COROMANDEL)	$15.02 Billion	31.15%	2.09x	$5.77 Billion

About UPL Limited

NSE:UPL India Agricultural Inputs

Market Cap

$4.73 Billion

Rs437.15 Billion INR

Market Cap Rank

#3590 Global

#156 in India

Share Price

Rs517.85

Change (1 day)

+0.34%

52-Week Range

Rs481.05 - Rs805.35

All Time High

Rs816.77