UPL Limited (UPL) — Working Capital to Net Assets Ratio
UPL Limited (UPL) has a Working Capital to Net Assets ratio of 18.0% as of March 2026. Working capital of Rs74.14 Billion (current assets of Rs421.62 Billion minus current liabilities of Rs347.48 Billion) is measured against net assets of Rs412.69 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See UPL cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
UPL Limited Working Capital to Net Assets (2005–2026)
This chart shows how UPL Limited's Working Capital to Net Assets ratio has evolved across 22 annual periods from 2005 to 2026. As of March 2026, the ratio stands at 18.0%, reflecting working capital of Rs74.14 Billion against net assets of Rs412.69 Billion INR. For the complete balance sheet picture, see balance sheet size of UPL Limited.
Annual Working Capital to Net Assets for UPL Limited (2005–2026)
The table below presents the year-by-year Working Capital to Net Assets ratio for UPL Limited from 2005 to 2026, covering 22 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. Check UPL Limited asset resilience ratio to evaluate the company's liquid asset resilience ratio.
| Year | WC/NA Ratio | Working Capital (INR) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2026 | 18.0% | Rs74.14 Billion | Rs412.69 Billion | Rs421.62 Billion | Rs347.48 Billion | ▼ -11.4 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 | — |