UPL Financial Statements

UPL (UPL) reported revenue of ₹471.23B in FY2025 with net income of ₹8.20B. Total assets stood at ₹880.02B and free cash flow was ₹93.38B.

UPL Income Statement

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FY 2021 – FY 2025

Item	Chart	2021	2022	2023	2024	2025
Revenue		389.52B	465.21B	540.53B	435.81B	471.23B
Cost of Rev. Cost of Revenue		-190.96B	-220.72B	-272.81B	-244.94B	-242.23B
Gross Profit		198.56B	244.49B	267.72B	190.87B	229.00B
SGA Sales, General & Admin		-109.59B	-140.18B	-150.12B	-140.65B	-148.14B
Op. Income Operating Income		66.44B	74.51B	81.26B	22.59B	53.36B
PBT Profit Before Tax		41.39B	49.66B	51.50B	-18.45B	8.29B
Net Income		27.66B	44.37B	44.14B	-18.78B	8.20B
Dil. Shares Diluted Shares		764.05M	764.05M	750.61M	750.61M	789.30M
Diluted EPS		36.20	45.87	45.79	-17.80	9.62

Figures in ₹ — millions (M), billions (B), trillions (T). EPS is earnings per share.

Understanding the Income Statement

The income statement shows UPL's revenue and expenses over a period. Revenue minus costs gives gross profit; after operating expenses, interest, and taxes, the remainder is net income. Diluted EPS divides net income by all shares that could exist if options and convertibles were exercised.

UPL Balance Sheet

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FY 2021 – FY 2025

Item	Chart	2021	2022	2023	2024	2025
Curr. assets Total current assets		300.15B	396.80B	419.88B	392.99B	396.17B
Non-curr. assets Total non-current assets		404.16B	429.99B	465.89B	482.47B	483.85B
Total assets		704.31B	826.79B	885.77B	875.46B	880.02B
Curr. liabilities Total current liabilities		196.27B	279.76B	290.37B	268.61B	285.69B
Non-curr. liab. Total non-current liabilities		262.24B	253.95B	241.11B	279.79B	216.07B
Total liabilities		458.51B	533.71B	531.48B	548.40B	501.76B
Total equity		245.80B	293.08B	354.29B	327.06B	378.26B
Total liab. & eq. Total liabilities & equity		704.31B	826.79B	885.77B	875.46B	880.02B

Figures in ₹ — millions (M), billions (B), trillions (T).

Understanding the Balance Sheet

The balance sheet captures UPL's financial position at a point in time — what it owns (assets), what it owes (liabilities), and the residual value to shareholders (equity). Total assets always equals total liabilities plus equity.

UPL Cash Flow Statement

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FY 2021 – FY 2025

Item	Chart	2021	2022	2023	2024	2025
Net Income		41.81B	49.66B	51.50B	-20.87B	8.29B
Operating CF Cash flow Operating Activities		72.12B	64.96B	77.51B	18.22B	101.51B
Capex Investments in PPE		-21.22B	-26.88B	-23.60B	-19.95B	-8.13B
Investing CF Cash flow Investing Activities		-21.01B	-38.19B	-14.90B	-24.78B	-18.40B
Dividend Paid		-4.58B	-9.22B	-7.50B	-7.49B	-770.00M
Financing CF Cash flow Financing Activities		-67.13B	-19.21B	-62.27B	1.64B	-47.93B
Cash (start) Cash at beginning of period		67.24B	47.97B	57.97B	59.67B	59.43B
Cash (end) Cash at end of period		47.97B	57.97B	59.67B	59.43B	94.78B
FCF Free Cash Flow		50.90B	38.08B	53.91B	-1.73B	93.38B

Figures in ₹ — millions (M), billions (B), trillions (T).

Understanding Cash Flow

The cash flow statement tracks how UPL's cash moves through operations, investing, and financing activities. Free cash flow — operating cash minus capital expenditure — shows what is available to return to shareholders.

Data from audited consolidated filings. For educational purposes only — not investment advice. Last update: Mar-2025