UPL stock: Analyst Forecast
UPL.NSFor UPL, analysts expect revenue of $5.95B (up 8.1%) and adjusted earnings per share of $0.38 (up 69.4%) on average for fiscal year 2027. For 2028 they expect revenue of $6.44B (up 8.3%) and adjusted earnings per share of $0.48 (up 26.7%). That is the average of the estimates of 17 analysts.
Daily figure as of 14 Nov 2026
Reported and expected
| Fiscal year | Type | Revenue | Growth | Net income | Net margin | EPS | Analysts |
|---|---|---|---|---|---|---|---|
| 2024 | Reported | $4.52B | −19.8% | −$127.33M | −2.8% | −$0.19 | |
| 2025 | Reported | $4.91B | 8.6% | $95.18M | 1.9% | $0.10 | |
| 2026 | Reported | $5.5B | 12.1% | $203.94M | 3.7% | $0.24 | |
| 2027 | Estimate | $5.95B | 8.1% | $326.2M | 5.5% | $0.38 | 17 |
| 2028 | Estimate | $6.44B | 8.3% | $413.16M | 6.4% | $0.48 | 17 |
Earnings per share in the estimates are usually adjusted, the way analysts calculate them. The reported figure is the statutory one and can therefore differ.
What the Estimates Show
Earnings per share are expected to grow faster than revenue in 2027, by 69.4% against 8.1%. For revenue, UPL beat the analysts' expectation in 3 of 8 quarters and missed it in 1. The expected net margin rises from 5.5% in 2027 to 6.4% in 2028.
The expected revenue growth for 2027 of +8.1% is above the average of fiscal years 2021 to 2026 of +6.2% per year. In the report of 2 Nov 2026, revenue came in line with the expectation (+0.1%).
A reported figure within 2% of the expectation counts as in line.
How UPL Compares
Among the 11 other stocks in the Agricultural Inputs industry with a forward P/E, the median is 10.9. At 13.4, UPL is above it.
Estimates of Industry Peers
Among industry peers, analysts expect the strongest revenue growth at KWS SAAT (+3.1%) and the weakest at Corteva (−53.3%).
| Stock | Expected revenue growth | Forward P/E |
|---|---|---|
| Corteva | −53.3% | 13.6 |
| Scotts Miracle-Gro | +2.5% | 13.2 |
| K+S | +1.3% | 10.9 |
| KWS SAAT | +3.1% | 12.7 |
Revenue growth here means the next fiscal year against the current one, both analyst averages.
Forecast and Fair Value
The forward P/E of UPL is 13.4, below the P/E on statutory earnings of the last twelve months (25). It uses the earnings analysts expect for the next twelve months. MEQIRI's fair value for UPL is $5.71, 3.9% below the share price. Its cash flow part uses the analysts' estimates for the first 3 years.
Why There Is No Price Target Here
MEQIRI deliberately does not show price targets or buy and sell recommendations, because they are opinions about the future share price. Revenue and earnings, by contrast, can be checked against every report.
Data status and sources
- Score
- Daily value of 14 Nov 2026, recalculated nightly
- Price
- Closing price of 13 Nov 2026
- Latest annual report
- Fiscal year 2026, period end 31 Mar 2026
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 13 Nov 2026 ($1 = ₹94.2431)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Weak, published since 7 Nov 2026 (in the score history since 27 Feb 2026)
- Valuation signal Fairly valued since 14 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.