UPL Limited Income Statement

Financials in millions INR. Fiscal year is April - March.

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2016 - 2020
Period Ending	Sep '25 Sep 30, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021	2016 - 2020
Revenue	477,150	466,370	430,980	535,760	462,400	386,940	Upgrade
Revenue Growth (YoY)	8.14%	8.21%	-19.56%	15.87%	19.50%	8.22%	Upgrade
Cost of Revenue	241,490	245,700	248,550	276,710	224,040	193,850	Upgrade
Gross Profit	235,660	220,670	182,430	259,050	238,360	193,090	Upgrade
Selling, General & Admin	61,200	60,060	54,830	61,990	54,090	42,770	Upgrade
Other Operating Expenses	82,220	76,910	71,490	84,090	82,660	63,870	Upgrade
Operating Expenses	175,440	166,870	154,860	172,780	160,190	129,170	Upgrade
Operating Income	60,220	53,800	27,570	86,270	78,170	63,920	Upgrade
Interest Expense	-29,880	-32,320	-33,780	-29,840	-17,750	-15,600	Upgrade
Interest & Investment Income	3,470	3,470	4,490	3,410	1,590	2,150	Upgrade
Earnings From Equity Investments	-3,410	-4,720	-2,420	1,570	1,340	420	Upgrade
Currency Exchange Gain (Loss)	-6,060	-7,110	-12,900	-7,770	-9,850	-3,230	Upgrade
Other Non Operating Income (Expenses)	580	-1,260	-1,410	-510	-910	-3,490	Upgrade
EBT Excluding Unusual Items	24,920	11,860	-18,450	53,130	52,590	44,170	Upgrade
Merger & Restructuring Charges	-1,980	-1,000	-1,600	-490	-600	-2,600	Upgrade
Gain (Loss) on Sale of Investments	-	-	-	-80	-	-	Upgrade
Gain (Loss) on Sale of Assets	610	610	150	210	420	80	Upgrade
Asset Writedown	-110	-410	-470	-60	-110	-60	Upgrade
Legal Settlements	90	-	-	-	-780	930	Upgrade
Other Unusual Items	-280	-2,770	-500	-1,210	-1,860	-710	Upgrade
Pretax Income	23,250	8,290	-20,870	51,500	49,660	41,810	Upgrade
Income Tax Expense	-430	90	-2,090	7,360	5,290	6,860	Upgrade
Earnings From Continuing Operations	23,680	8,200	-18,780	44,140	44,370	34,950	Upgrade
Net Income to Company	23,680	8,200	-18,780	44,140	44,370	34,950	Upgrade
Minority Interest in Earnings	-1,790	770	6,780	-8,440	-8,110	-6,240	Upgrade
Net Income	21,890	8,970	-12,000	35,700	36,260	28,710	Upgrade
Preferred Dividends & Other Adjustments	1,360	1,360	1,360	1,350	1,210	900	Upgrade
Net Income to Common	20,530	7,610	-13,360	34,350	35,050	27,810	Upgrade
Net Income Growth	-	-	-	-1.54%	26.30%	61.66%	Upgrade
Shares Outstanding (Basic)	890	771	766	751	764	764	Upgrade
Shares Outstanding (Diluted)	908	789	766	751	764	764	Upgrade
Shares Change (YoY)	-11.91%	3.11%	1.99%	-1.76%	-	0.00%	Upgrade
EPS (Basic)	23.08	9.87	-17.45	45.76	45.87	36.40	Upgrade
EPS (Diluted)	22.59	9.62	-17.45	45.76	45.87	36.40	Upgrade
EPS Growth	-	-	-	-0.23%	26.02%	56.62%	Upgrade
Free Cash Flow	66,700	92,610	6,630	60,790	44,740	55,930	Upgrade
Free Cash Flow Per Share	73.44	117.33	8.66	80.99	58.56	73.20	Upgrade
Dividend Per Share	-	6.000	1.000	10.000	10.000	10.000	Upgrade
Dividend Growth	-	500.00%	-90.00%	-	-	66.67%	Upgrade
Gross Margin	49.39%	47.32%	42.33%	48.35%	51.55%	49.90%	Upgrade
Operating Margin	12.62%	11.54%	6.40%	16.10%	16.91%	16.52%	Upgrade
Profit Margin	4.30%	1.63%	-3.10%	6.41%	7.58%	7.19%	Upgrade
Free Cash Flow Margin	13.98%	19.86%	1.54%	11.35%	9.68%	14.45%	Upgrade
EBITDA	73,990	66,120	41,420	99,110	90,080	76,950	Upgrade
EBITDA Margin	15.51%	14.18%	9.61%	18.50%	19.48%	19.89%	Upgrade
D&A For EBITDA	13,770	12,320	13,850	12,840	11,910	13,030	Upgrade
EBIT	60,220	53,800	27,570	86,270	78,170	63,920	Upgrade
EBIT Margin	12.62%	11.54%	6.40%	16.10%	16.91%	16.52%	Upgrade
Effective Tax Rate	-	1.09%	-	14.29%	10.65%	16.41%	Upgrade
Revenue as Reported	483,850	471,230	435,810	540,530	465,210	389,520	Upgrade
Advertising Expenses	-	5,670	6,580	10,020	6,510	4,760	Upgrade

Source: S&P Global Market Intelligence. Standard template. Financial Sources.