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United Breweries Ltd

₹ 1,575-0.94%
07 Jan – close price
🔗unitedbreweries.com•BSE: 532478•NSE: UBL
Market Cap₹ 41,622 Cr.
Current Price₹ 1,575
High / Low₹ 2,300
Stock P/E110
Book Value₹ 164
Dividend Yield0.63 %
ROCE13.9 %
ROE10.8 %
Face Value₹ 1.00
Sales₹ 9,233 Cr.
OPM8.32 %
Mar Cap₹ 41,622 Cr.

ABOUT

United Breweries Limited (UBL) is engaged in the business of manufacture and sale of beer and non-alcoholic beverages.[1]

KEY POINTS

Brand PortfolioThe Co markets its products under the flagship brands Kingfisher and Heineken.Some of the most popular brands in its portfolio include Kingfisher Premium, Kingfisher Ultra, Kingfisher Strong, Kingfisher Ultra Max, UB Export Lager, London Pilsner etc.[1]

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsRevenue GuidanceAsset Base ExpansionCapacity Expansion And ProductsRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.United Spirits1377.8058.45100207.120.87464.0042.563173.0011.5726.5012658.0018.341714.40486.1211.9212.340.05
2.Radico Khaitan3207.3092.2442821.850.12138.9669.071493.9333.8316.245598.2914.85464.24138.9614.727.980.21
3.United Breweries1575.30109.5241621.640.6346.95-64.502051.08-3.0113.879233.228.32380.0446.959.606.020.18
4.Allied Blenders531.9057.9014879.130.6862.9235.22990.0614.1121.083807.5112.86256.9864.319.556.290.68
5.Tilaknagar Inds.452.3041.0211175.840.2252.68-9.53398.226.2328.191553.6018.89272.4752.684.7320.260.02
6.India Glycols1001.7025.876704.690.5065.0630.881092.2013.6312.353971.0814.53259.1465.062.594.040.86
7.Piccadily Agro604.1054.225950.250.0026.728.32212.2114.7622.68863.6422.86109.7526.697.3910.870.40
–Median: 23 Co.292.338.691770.110.1219.50.0212.213.5713.25863.648.5555.6519.53.086.290.43

Quarterly Results

Standalone figures in ₹ crores

Dec 2022Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2022Sep 2023Sep 2024Sep 2025
Sales
1,6111,8231,9982,2732,4732,8621,7642,1322,3211,6801,8882,1152,051
Expenses
1,5341,6771,8572,0502,1882,5521,7111,9902,1351,4601,7031,8881,921
Operating Profit
7714614122328531153142186219185227130
Other Income
-2024-16107111226814121115
Profit before tax
5116611802332471310913218014517867
Tax %
145%27%37%24%26%26%26%26%26%26%26%26%29%
Net Profit
-2853813617318410819713410813247
EPS in Rs
-0.083.211.455.156.556.950.373.063.685.084.075.001.78

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
4,2364,6924,8394,7345,6296,4726,5054,2415,8327,4928,1158,9079,233
Expenses
3,6394,0714,1094,0934,7275,3355,6303,8615,1376,8777,4208,0688,465
Operating Profit
5976217306419021,138874380695614695839768
Other Income
1537485212329433016731018
Interest
807381594831312315571335
Depreciation
198207244287260260285232217210212233245
Profit before tax
334378453347607878567168493415549603506
Net Profit
226260298229394563427113365303409441366
EPS in Rs
8.539.8211.278.6714.9021.2816.164.2713.8011.4815.4816.6913.86
Dividend Payout %
11%10%10%13%13%12%15%12%76%65%65%60%–

Compounded Profit Growth

10 Years:6%
5 Years:1%
3 Years:8%
TTM:-19%

Compounded Sales Growth

10 Years:7%
5 Years:6%
3 Years:15%
TTM:8%

Return on Equity

10 Years:11%
5 Years:9%
3 Years:10%
Last Year:11%

Stock Price CAGR

10 Years:6%
5 Years:5%
3 Years:-2%
1 Year:-24%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
26262626262626262626262626
Reserves
1,6051,8232,1192,3062,6623,1553,4923,5533,9063,9354,1484,3334,312
Borrowings
1,3068368065943122112522621016102620777
Other Liabilities
9581,1951,4101,5471,7191,9851,7742,0031,9992,2942,7673,2323,041
Total Liabilities
3,8963,8814,3624,4744,7195,3795,5445,8455,9416,2717,0438,2128,157
Fixed Assets
1,6071,8111,7971,7261,7051,7521,9011,9421,9051,8431,7681,7401,791
Gross Block
2,807.583,217.613,440.363,648.383,865.214,072.244,500.124,762.174,924.375,090.735,206.885,406.64–
Accumulated Depreciation
1,200.661,406.771,643.001,922.832,160.162,320.052,599.372,820.133,019.613,247.613,439.203,666.38–
CWIP
8290611377219019912811077173251433
Investments
25252526262626141616161615
Other Assets
2,1811,9542,4782,5862,9163,4113,4183,7613,9104,3355,0876,2055,917
Total Assets
3,8963,8814,3624,4744,7195,3795,5445,8455,9416,2717,0438,2128,157

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
290839539544562644507619899-12177234
Cash from Investing Activity
-157-327-245-234-196-430-402-151-160-120-148-238
Cash from Financing Activity
-173-572-297-301-363-198-95-88-286-292-130217
Net Cash Flow
-40-60-3931710380453-533-201212

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
8375841009785761207969104117
Inventory Days
293276322326265323310555300318296325
Days Payable
113170196200172185154308204160206231
Cash Conversion Cycle
262182211226190223231368174227195211
Working Capital Days
242321345348506231496250
ROCE %
14%16%19%14%22%28%17%5%13%11%13%14%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
72.72%72.72%72.72%71.00%70.84%70.84%70.84%70.84%70.84%70.84%70.84%70.84%
FIIs
6.94%6.43%6.31%6.70%6.71%6.63%6.43%6.26%6.43%6.92%6.73%6.26%
DIIs
13.91%14.41%14.65%15.97%16.06%16.12%16.38%16.62%16.52%16.17%16.37%16.68%
Public
5.28%5.27%5.16%5.19%5.22%5.25%5.19%5.13%5.06%4.93%4.92%5.07%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

United Breweries files SEBI 74(5) certificate for Q4FY26 dematerialization compliance

8th April 2026, 5:09 pm

United Breweries Board Meeting on May 5 to Approve FY26 Financials, Dividend Recommendation

6th April 2026, 9:01 pm

United Breweries Senior Executive Resigns, Effective April 30, 2026

2nd April 2026, 6:32 pm

United Breweries Receives ₹22.5 Cr Tax Demand Order; Company Confident of No Major Financial Impact

2nd April 2026, 6:08 pm

United Breweries Launches New 'Kingfisher Smooth' Beer in Maharashtra

31st March 2026, 5:05 pm

Published by Other Websites

External media mentions & references

India Consumption Splits: Premium Alcobev, Beauty Boom; QSR Faces Slow Recovery

6th April 2026, 8:39 pm

Indian Beverages Face Price Hikes as Costs Bite, Rules Split Sector

6th April 2026, 5:12 pm

FMCG Giants Eye 3-4% Price Hike in Q1 FY27 on Soaring Input Costs

2nd April 2026, 2:37 pm

FY Starts: IndiGo CEO Change, UBL Launch, Adani Subs Drive Focus

31st March 2026, 6:26 pm

Beer Industry Braces for Margin Squeeze as Input Costs Skyrocket

27th March 2026, 5:25 pm

News Articles

Editorial & research coverage

India Equities: Large Caps Lift Market Amidst Midcap Weakness and Sector Shift
India Equities: Large Caps Lift Market Amidst Midcap Weakness and Sector Shift

6th February 2026, 4:07 pm

Goa Beer Industry Seeks DRS Delay Amid Revenue & Supply Fears
Goa Beer Industry Seeks DRS Delay Amid Revenue & Supply Fears

31st January 2026, 10:26 pm

UBL Launches New Beer Amid 11% YTD Stock Decline
UBL Launches New Beer Amid 11% YTD Stock Decline

28th January 2026, 6:52 pm

India-EU FTA Sparks Auto Sector Slump, Boosts Textiles
India-EU FTA Sparks Auto Sector Slump, Boosts Textiles

27th January 2026, 9:40 pm

India Postpones Can Quality Norms, Averting Summer Supply Crisis
India Postpones Can Quality Norms, Averting Summer Supply Crisis

25th January 2026, 3:07 pm

Documents

Announcements

Announcement under Regulation 30 (LODR)-Press Release / Media Release

6h - Kingfisher Smooth Strong Premium Beer launched in Rajasthan on Jan 7, 2026; prices INR100/330ml, INR145/500ml, INR185/650ml.

Closure of Trading Window

24 Dec - Trading window closed Jan 1, 2026 until 48 hours after results for quarter/year ended Dec 31, 2025.

Announcement under Regulation 30 (LODR)-Press Release / Media Release

25 Nov 2025 - Heineken Silver launched in New Delhi on Nov 25, 2025; prices INR155/330ml, INR180/500ml, INR305/650ml.

Announcement under Regulation 30 (LODR)-Press Release / Media Release

21 Nov 2025 - Lease registered for Unnao greenfield brewery; production (cans/bottles) including Heineken; operational by Q2 FY27.

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome

4 Nov 2025 - Transcript link for Q2 FY2025-26 earnings call held October 30, 2025.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from nse)

Financial Year 2013

(from bse)

Financial Year 2012

(from nse)

Credit Ratings

Rating update

3 Dec 2025 from icra

Rating update

31 Oct 2025 from icra

Rating update

17 Jan 2025 from icra

Rating update

31 Oct 2023 from icra

Rating update

31 Oct 2022 from icra

Rating update

29 Oct 2021 from icra

Concalls

Oct 2025

TranscriptRecording

Jul 2025

PPTRecording

May 2025

TranscriptPPTRecording

Feb 2025

TranscriptPPT

Oct 2024

TranscriptPPT

Sep 2024

Recording

Jul 2024

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May 2024

TranscriptPPTRecording

Feb 2024

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Oct 2023

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Aug 2023

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May 2023

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Feb 2023

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Oct 2022

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Aug 2022

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May 2022

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Feb 2022

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Aug 2021

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Jun 2021

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May 2021

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Nov 2020

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Aug 2020

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Jun 2020

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Stock Analysis

Description

  1. United Breweries Limited (UBL) is engaged in the business of manufacture and sale of beer and non-alcoholic beverages.

Key Growth Triggers

  1. Currently no data available for Key Growth Triggers.

Order Book

  1. Currently no data available for Order Book.

Key Red Flags

  1. Currently no data available for Key Red Flags.

Key Dates To Watch

  1. Currently no data available for Key Dates To Watch.

Corporate Announcements

8th Apr 26
Impact Rating: 4
United Breweries Limited submitted its SEBI Regulation 74(5) certificate for the quarter ended March 31, 2026. The registrar confirmed dematerialization of securities and cancellation of physical certificates.
6th Apr 26
Impact Rating: 8
United Breweries' Board of Directors will meet on May 5, 2026, to approve audited standalone/consolidated financial results for FY ended March 31, 2026, and recommend dividends. Trading window closes May 7.
2nd Apr 26
Impact Rating: 6
Ms. Kavita Singh, Chief Human Resources Officer and Director - People at United Breweries, has tendered her resignation, which will be effective from April 30, 2026.
2nd Apr 26
Impact Rating: 7
United Breweries has been ordered by Maharashtra VAT to pay ₹22.50 crore for FY 2021-22, covering tax, interest, and penalty. The demand relates to non-submission of tax declaration forms. The company is confident in its defense.
31st Mar 26
Impact Rating: 6
United Breweries Limited is launching 'Kingfisher Smooth Strong Premium Beer' in Maharashtra on March 31, 2026, to cater to growing demand in the strong beer market.