Industry Analysis

UPCL - UPML Performance Review

Comparative Analysis: FY 2025-26 vs. FY 2024-25
(Data Period: April - January)

Corporate Strategy & Business Intelligence

February 2026

Executive Summary

Key Performance Indicators & Growth Trajectory

FY 25-26 vs 24-25
+14.2% Growth
Total Revenue (UPCL+UPML)
₹4,285 Cr
12.4% YoY
Operational Efficiency
92.8%
3.1% YoY
Market Share
18.4%
0.5% YoY
Customer Base (Active)
1.2M
8.9% YoY

Monthly Volume Comparison (Apr-Jan)

6.2
5.8
6.8
6.1
7.9
6.5
8.4
7.2
7.1
6.9
9.0
7.4
9.4
7.8
8.2
7.6
8.6
7.9
9.2
8.3
FY 25-26
FY 24-25

UPCL vs. UPML Comparison

Direct entity comparison across critical business parameters

Performance Metric UPCL (FY 25-26) UPML (FY 25-26) Combined YoY Δ Analysis
Production Volume (MT) 452,000 318,500 +18.2% UPCL capacity expansion driving growth
OpEx per Unit ₹42.50 ₹48.20 -4.5% Better cost optimization in UPCL plants
Revenue Contribution 58% 42% -- UPML narrowing the gap via high-value niche
Maintenance Downtime 4.2 Days 6.1 Days +0.8 Days UPML aging infrastructure needs overhaul
Safety Index Score 9.8/10 9.6/10 +0.2 Exceptional safety standards maintained

UPCL Key Insights

Dominates high-volume market segments. Production efficiency reached record highs in Q3 FY 25-26. Digital transformation of supply chain nearly complete.

UPML Key Insights

Transitioning towards premium value-added products. EBITDA margins improved despite lower volumes compared to UPCL. R&D focus increasing.

Industry Market Dynamics

Regional penetration and industry-wide benchmark analysis

Revenue by Zone

North Zone 38%
West Zone 29%
South Zone 22%
East Zone 11%

Strategic Recommendations

  • 1

    Infrastructure Update: Accelerate UPML plant modernization to reduce maintenance downtime by 20% in the coming fiscal year.

  • 2

    Market Expansion: Investigate East Zone low penetration; potential for 15% growth through targeted distribution networks.

  • 3

    Cost Leadership: Leverage UPCL's digital supply chain model to optimize UPML logistics, targeting 3% OpEx reduction.

  • 4

    Sustainability: Implement Green Energy initiatives across both entities to meet upcoming ESG regulatory benchmarks.