UPL Limited (UPL) — Tangible Net Worth Ratio
UPL Limited (UPL) has a Tangible Net Worth Ratio of 72.3% as of March 2026. This metric is calculated by deducting intangible assets (Rs114.33 Billion) from net assets (Rs412.69 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. Also explore UPL Limited equity growth rate to track the company's year-over-year net asset growth rate.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
UPL Limited Tangible Net Worth Ratio (2005–2026)
This chart shows how UPL Limited's Tangible Net Worth Ratio has changed across 22 annual periods from 2005 to 2026. As of March 2026, the ratio stands at 72.3%, reflecting net assets of Rs412.69 Billion with intangible assets of Rs114.33 Billion INR. For live market cap and overall valuation, see UPL Limited market capitalisation.
Annual Tangible Net Worth Ratio for UPL Limited (2005–2026)
The table below presents the year-by-year Tangible Net Worth Ratio for UPL Limited from 2005 to 2026, covering 22 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. Explore UPL Limited (UPL) reinvestment ratio to see what proportion of operating cash flow is directed to capital expenditures.
| Year | Tangible NW Ratio | Net Assets (INR) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2026 | 72.3% | Rs412.69 Billion | Rs114.33 Billion | Rs952.05 Billion | ▲ +1.1 pp |
| 2025 | 71.2% | Rs378.26 Billion | Rs109.09 Billion | Rs880.02 Billion | ▲ +4.9 pp |
| 2024 | 66.3% | Rs327.06 Billion | Rs110.23 Billion | Rs875.46 Billion | ▼ -1.6 pp |
| 2023 | 67.9% | Rs354.29 Billion | Rs113.66 Billion | Rs885.77 Billion | ▲ +5.7 pp |
| 2022 | 62.2% | Rs293.08 Billion | Rs110.66 Billion | Rs826.79 Billion | ▲ +7.6 pp |
| 2021 | 54.6% | Rs245.80 Billion | Rs111.48 Billion | Rs704.31 Billion | ▲ +7.1 pp |
| 2020 | 47.5% | Rs225.93 Billion | Rs118.57 Billion | Rs700.83 Billion | ▲ +18.7 pp |
| 2019 | 28.8% | Rs180.03 Billion | Rs128.13 Billion | Rs630.48 Billion | ▼ -56.4 pp |
| 2018 | 85.2% | Rs91.88 Billion | Rs13.60 Billion | Rs230.43 Billion | ▲ +3.1 pp |
| 2017 | 82.1% | Rs74.30 Billion | Rs13.28 Billion | Rs203.81 Billion | ▼ -1.2 pp |
| 2016 | 83.3% | Rs68.33 Billion | Rs11.42 Billion | Rs170.12 Billion | ▼ -6.0 pp |
| 2015 | 89.3% | Rs59.05 Billion | Rs6.30 Billion | Rs143.05 Billion | ▲ +9.0 pp |
| 2014 | 80.3% | Rs54.19 Billion | Rs10.67 Billion | Rs128.58 Billion | ▲ +1.3 pp |
| 2013 | 79.0% | Rs48.79 Billion | Rs10.23 Billion | Rs124.53 Billion | ▲ +1.5 pp |
| 2012 | 77.6% | Rs44.23 Billion | Rs9.92 Billion | Rs103.53 Billion | ▼ -1.3 pp |
| 2011 | 78.8% | Rs37.44 Billion | Rs7.93 Billion | Rs82.82 Billion | ▼ -11.0 pp |
| 2010 | 89.9% | Rs30.06 Billion | Rs3.04 Billion | Rs69.65 Billion | ▲ +2.6 pp |
| 2009 | 87.3% | Rs26.82 Billion | Rs3.42 Billion | Rs64.76 Billion | ▲ +1.5 pp |
| 2008 | 85.8% | Rs22.44 Billion | Rs3.20 Billion | Rs52.71 Billion | ▲ +37.9 pp |
| 2007 | 47.9% | Rs15.00 Billion | Rs7.82 Billion | Rs47.84 Billion | ▼ -18.0 pp |
| 2006 | 65.9% | Rs12.78 Billion | Rs4.35 Billion | Rs33.83 Billion | ▲ +18.2 pp |
| 2005 | 47.8% | Rs7.93 Billion | Rs4.14 Billion | Rs19.89 Billion | — |