UPL Limited (UPL) — Working Capital to Net Assets Ratio
UPL Limited (UPL) has a Working Capital to Net Assets ratio of 21.7% as of September 2025. Working capital of Rs81.66 Billion (current assets of Rs412.56 Billion minus current liabilities of Rs330.90 Billion) is measured against net assets of Rs377.10 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See UPL Limited balance sheet quality to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
UPL Limited Working Capital to Net Assets (2005–2025)
This chart shows how UPL Limited's Working Capital to Net Assets ratio has evolved across 21 annual periods from 2005 to 2025. As of September 2025, the ratio stands at 21.7%, reflecting working capital of Rs81.66 Billion against net assets of Rs377.10 Billion INR. Check UPL tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for UPL Limited (2005–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for UPL Limited from 2005 to 2025, covering 21 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see UPL Limited (UPL) market capitalisation.
| Year | WC/NA Ratio | Working Capital (INR) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 29.3% | Rs110.92 Billion | Rs378.26 Billion | Rs396.61 Billion | Rs285.69 Billion | ▼ -8.8 pp |
| 2024 | 38.1% | Rs124.67 Billion | Rs327.06 Billion | Rs393.28 Billion | Rs268.61 Billion | ▲ +1.5 pp |
| 2023 | 36.7% | Rs129.91 Billion | Rs354.29 Billion | Rs420.28 Billion | Rs290.37 Billion | ▼ -3.4 pp |
| 2022 | 40.1% | Rs117.52 Billion | Rs293.08 Billion | Rs397.28 Billion | Rs279.76 Billion | ▼ -2.4 pp |
| 2021 | 42.5% | Rs104.43 Billion | Rs245.80 Billion | Rs300.70 Billion | Rs196.27 Billion | ▼ -13.1 pp |
| 2020 | 55.6% | Rs125.56 Billion | Rs225.93 Billion | Rs292.42 Billion | Rs166.86 Billion | ▼ -7.9 pp |
| 2019 | 63.5% | Rs114.27 Billion | Rs180.03 Billion | Rs269.91 Billion | Rs155.64 Billion | ▼ -16.9 pp |
| 2018 | 80.3% | Rs73.82 Billion | Rs91.88 Billion | Rs150.24 Billion | Rs76.42 Billion | ▼ -9.4 pp |
| 2017 | 89.8% | Rs66.70 Billion | Rs74.30 Billion | Rs136.98 Billion | Rs70.28 Billion | ▲ +48.8 pp |
| 2016 | 41.0% | Rs28.02 Billion | Rs68.33 Billion | Rs100.69 Billion | Rs72.67 Billion | ▼ -1.2 pp |
| 2015 | 42.3% | Rs24.95 Billion | Rs59.05 Billion | Rs83.72 Billion | Rs58.77 Billion | ▼ -11.5 pp |
| 2014 | 53.7% | Rs29.11 Billion | Rs54.19 Billion | Rs75.52 Billion | Rs46.40 Billion | ▼ -12.7 pp |
| 2013 | 66.4% | Rs32.39 Billion | Rs48.79 Billion | Rs74.37 Billion | Rs41.98 Billion | ▲ +7.3 pp |
| 2012 | 59.1% | Rs26.12 Billion | Rs44.23 Billion | Rs57.35 Billion | Rs31.23 Billion | ▲ +16.2 pp |
| 2011 | 42.9% | Rs16.06 Billion | Rs37.44 Billion | Rs49.91 Billion | Rs33.85 Billion | ▼ -21.7 pp |
| 2010 | 64.6% | Rs19.40 Billion | Rs30.06 Billion | Rs43.24 Billion | Rs23.84 Billion | ▼ -28.3 pp |
| 2009 | 92.9% | Rs24.91 Billion | Rs26.82 Billion | Rs41.17 Billion | Rs16.26 Billion | ▲ +25.5 pp |
| 2008 | 67.3% | Rs15.11 Billion | Rs22.44 Billion | Rs28.59 Billion | Rs13.47 Billion | ▼ -5.2 pp |
| 2007 | 72.5% | Rs10.88 Billion | Rs15.00 Billion | Rs25.18 Billion | Rs14.30 Billion | ▼ -10.0 pp |
| 2006 | 82.5% | Rs10.53 Billion | Rs12.78 Billion | Rs20.31 Billion | Rs9.77 Billion | ▲ +31.2 pp |
| 2005 | 51.3% | Rs4.06 Billion | Rs7.93 Billion | Rs9.39 Billion | Rs5.32 Billion | — |