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
Period Ending	Dec '25 Dec 31, 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
Revenue	490,770	466,370	430,980	535,760	462,400	386,940
Revenue Growth (YoY)	8.72%	8.21%	-19.56%	15.87%	19.50%	8.22%
Cost of Revenue	246,660	245,700	248,550	276,710	224,040	193,850
Gross Profit	244,110	220,670	182,430	259,050	238,360	193,090
Selling, General & Admin	63,150	60,060	54,830	61,990	54,090	42,770
Other Operating Expenses	85,170	76,910	71,490	84,090	82,660	63,870
Operating Expenses	182,570	166,870	154,860	172,780	160,190	129,170
Operating Income	61,540	53,800	27,570	86,270	78,170	63,920
Interest Expense	-32,320	-32,320	-33,780	-29,840	-17,750	-15,600
Interest & Investment Income	3,470	3,470	4,490	3,410	1,590	2,150
Earnings From Equity Investments	-1,440	-4,720	-2,420	1,570	1,340	420
Currency Exchange Gain (Loss)	-6,880	-7,110	-12,900	-7,770	-9,850	-3,230
Other Non Operating Income (Expenses)	3,520	-1,260	-1,410	-510	-910	-3,490
EBT Excluding Unusual Items	27,890	11,860	-18,450	53,130	52,590	44,170
Merger & Restructuring Charges	-1,360	-1,000	-1,600	-490	-600	-2,600
Gain (Loss) on Sale of Investments	-	-	-	-80	-	-
Gain (Loss) on Sale of Assets	610	610	150	210	420	80
Asset Writedown	-100	-410	-470	-60	-110	-60
Legal Settlements	140	-	-	-	-780	930
Other Unusual Items	-760	-2,770	-500	-1,210	-1,860	-710
Pretax Income	26,420	8,290	-20,870	51,500	49,660	41,810
Income Tax Expense	6,370	90	-2,090	7,360	5,290	6,860
Earnings From Continuing Operations	20,050	8,200	-18,780	44,140	44,370	34,950
Net Income to Company	20,050	8,200	-18,780	44,140	44,370	34,950
Minority Interest in Earnings	-2,480	770	6,780	-8,440	-8,110	-6,240
Net Income	17,570	8,970	-12,000	35,700	36,260	28,710
Preferred Dividends & Other Adjustments	1,360	1,360	1,360	1,350	1,210	900
Net Income to Common	16,210	7,610	-13,360	34,350	35,050	27,810
Net Income Growth	4185.37%	-	-	-1.54%	26.30%	61.66%
Shares Outstanding (Basic)	804	771	766	751	764	764
Shares Outstanding (Diluted)	823	789	766	751	764	764
Shares Change (YoY)	4.01%	3.11%	1.99%	-1.76%	-	0.00%
EPS (Basic)	20.16	9.87	-17.45	45.76	45.87	36.40
EPS (Diluted)	19.67	9.62	-17.45	45.76	45.87	36.40
EPS Growth	-	-	-	-0.23%	26.02%	56.62%
Free Cash Flow	-	92,610	6,630	60,790	44,740	55,930
Free Cash Flow Per Share	-	117.33	8.66	80.99	58.56	73.20
Dividend Per Share	-	6.000	1.000	10.000	10.000	10.000
Dividend Growth	-	500.00%	-90.00%	-	-	66.67%
Gross Margin	49.74%	47.32%	42.33%	48.35%	51.55%	49.90%
Operating Margin	12.54%	11.54%	6.40%	16.10%	16.91%	16.52%
Profit Margin	3.30%	1.63%	-3.10%	6.41%	7.58%	7.19%
Free Cash Flow Margin	-	19.86%	1.54%	11.35%	9.68%	14.45%
EBITDA	72,713	66,120	41,420	99,110	90,080	76,950
EBITDA Margin	14.82%	14.18%	9.61%	18.50%	19.48%	19.89%
D&A For EBITDA	11,173	12,320	13,850	12,840	11,910	13,030
EBIT	61,540	53,800	27,570	86,270	78,170	63,920
EBIT Margin	12.54%	11.54%	6.40%	16.10%	16.91%	16.52%
Effective Tax Rate	24.11%	1.09%	-	14.29%	10.65%	16.41%
Revenue as Reported	496,690	471,230	435,810	540,530	465,210	389,520
Advertising Expenses	-	5,670	6,580	10,020	6,510	4,760

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