UPLNSE:UPL +0.41%74 Net Margin % is 5.79% as of Mar. 2026, which is 15% below its 10-year median of 6.81. GuruFocus rates NSE:UPL with a GF Score™ of 74/100 and a GF Value™ of ₹615.04 (Fairly Valued). The stock has 4 warning signs investors should review. Among 250 Agriculture companies, UPL ranks worse than 54.8% on this metric.
Net margin is calculated as Net Income divided by its Revenue. UPL's Net Income for the
three
months ended in Mar. 2026 was ₹10,610 Mil. UPL's Revenue for the
three
months ended in Mar. 2026 was ₹183,350 Mil. Therefore, UPL's net margin for the quarter that ended in Mar. 2026 was 5.79%.
The historical rank and industry rank for UPL's Net Margin % or its related term are showing as below:
NSE:UPL'
s Net Margin % Range Over the Past 10 Years
Min: -2.82 Med: 6.81 Max: 11.8
Current: 3.71
NSE:UPL's Net Margin % is ranked worse than 54.8% of 250
companies
in the Agriculture industry
Industry Median: 4.12
vs NSE:UPL: 3.71
UPL (NSE:UPL) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
UPL Net Margin % Related Terms
UPL Net Margin % Historical Data
* Premium members only.
The historical data trend for UPL's Net Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Agricultural Inputs subindustry, UPL's Net Margin %, along with its competitors' market caps and Net Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
UPL Net Margin % vs Agriculture Industry
For the Agriculture industry and Basic Materials sector, UPL's Net Margin % distribution charts can be found below:
* The bar in red indicates where UPL's Net Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
UPL (NSE:UPL) has a Net Margin % of 5.79% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on UPL and its competitors. This is 15% below median its historical median of 6.81. According to the industry distribution chart, UPL ranks #137 out of 250 companies in the Agriculture industry, placing it in the top 54.8%.
Is UPL's Net Margin % too high?
UPL's current Net Margin % of 5.79% is 15% below median its 10-year median of 6.81. The Agriculture industry median Net Margin % is 4.12. UPL's value of 5.79% is 40.5% above this industry median. Based on the distribution chart, UPL ranks #137 out of 250 companies in the Agriculture industry, which is below the industry midpoint. Overall, UPL has a GF Score™ of 74/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does UPL's Net Margin % compare to CTVA and CF?
According to the Agriculture industry distribution chart, UPL ranks #137 out of 250 companies for Net Margin %. This places UPL in the lower half of its industry. The industry median Net Margin % is 4.12. UPL's value of 5.79% is 40.5% above this benchmark. While the company's 10-year median is 6.81 vs. the industry median of 4.12, UPL has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Margin % for an Agriculture company?
The median Net Margin % among Agriculture companies is 4.12, based on 250 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. UPL's current Net Margin % of 5.79% is 40.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on UPL and its competitors. For the Agriculture industry, the median Net Margin % is 4.12 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. UPL's current Net Margin % is 5.79%, which is 15% below median its own 10-year median of 6.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is UPL stock overvalued right now?
Based on GuruFocus' analysis, UPL (NSE:UPL) is currently considered Fairly Valued. The stock's GF Value™ is ₹615.04, compared to a current price of ₹599.25 — trading 2.6% below its estimated fair value. The current Net Margin % is 5.79%, which is 15% below median its 10-year median of 6.81 and 40.5% above the Agriculture industry median of 4.12. UPL's overall GF Score™ is 74/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For UPL (NSE:UPL), the current Net Margin % is 5.79% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is UPL (NSE:UPL) Overvalued in 2026?
Based on GuruFocus' analysis, UPL stock appears to be undervalued.
The current stock price of ₹599.25 is trading 2.6% below its estimated GF Value™ of ₹615.04.
GuruFocus considers UPL to be Fairly Valued.
Key valuation signals for NSE:UPL:
Net Margin %: 5.79% (15% below median its 10-year median of 6.81)
GF Value™: ₹615.04 vs. price of ₹599.25 (2.6% below fair value)
Industry Position: 40.5% above the Agriculture median (#137 of 250)
No single metric tells the full story. See the NSE:UPL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
UPL Ltd is principally engaged in the business of manufacturing and sale of crop protection products. The firm's crop protection portfolio includes fungicides, herbicides, insecticides, plant growth regulators, rodenticides, and specialty crop chemicals. The firm's seed products consist of nutri-feeds, seeds, and seed treatment products. UPL competes on price with the manufacture and sale of generic products. The company generates its revenue globally, with sales in various countries, and derives a majority share of its revenue from its business outside India. The firm sells its products through a distribution network in each region.
74GF Score
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