United Breweries Ltd
United Breweries Limited (UBL) is engaged in the business of manufacture and sale of beer and non-alcoholic beverages. [1]
- Market Cap ₹ 53,914 Cr.
- Current Price ₹ 2,039
- High / Low ₹ 2,107 / 1,373
- Stock P/E 159
- Book Value ₹ 152
- Dividend Yield 0.37 %
- ROCE 11.4 %
- ROE 8.27 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 51.0%
- Debtor days have improved from 89.0 to 68.5 days.
Cons
- Stock is trading at 13.4 times its book value
- The company has delivered a poor sales growth of 5.94% over past five years.
- Company has a low return on equity of 7.19% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Alcoholic Beverages Industry: Breweries & Distilleries
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
3,559 | 3,899 | 4,230 | 4,688 | 4,833 | 4,729 | 5,619 | 6,475 | 6,509 | 4,243 | 5,838 | 7,500 | 7,755 | |
3,167 | 3,421 | 3,632 | 4,066 | 4,136 | 4,087 | 4,716 | 5,337 | 5,633 | 3,862 | 5,142 | 6,884 | 7,148 | |
Operating Profit | 393 | 478 | 597 | 622 | 697 | 642 | 903 | 1,138 | 876 | 381 | 697 | 616 | 607 |
OPM % | 11% | 12% | 14% | 13% | 14% | 14% | 16% | 18% | 13% | 9% | 12% | 8% | 8% |
73 | 38 | 15 | 37 | 82 | 52 | 13 | 32 | 9 | 43 | 30 | 16 | 59 | |
Interest | 98 | 80 | 80 | 73 | 81 | 59 | 48 | 31 | 31 | 23 | 15 | 5 | 6 |
Depreciation | 149 | 170 | 198 | 208 | 244 | 287 | 260 | 260 | 285 | 232 | 217 | 211 | 205 |
Profit before tax | 218 | 266 | 335 | 379 | 455 | 348 | 608 | 879 | 569 | 169 | 494 | 417 | 455 |
Tax % | 42% | 35% | 32% | 31% | 34% | 34% | 35% | 36% | 25% | 33% | 26% | 27% | |
127 | 173 | 226 | 260 | 299 | 230 | 395 | 563 | 428 | 114 | 366 | 305 | 339 | |
EPS in Rs | 4.79 | 6.51 | 8.55 | 9.83 | 11.28 | 8.68 | 14.91 | 21.29 | 16.18 | 4.28 | 13.82 | 11.50 | 12.81 |
Dividend Payout % | 15% | 11% | 11% | 10% | 10% | 13% | 13% | 12% | 15% | 12% | 76% | 65% |
Compounded Sales Growth | |
---|---|
10 Years: | 7% |
5 Years: | 6% |
3 Years: | 5% |
TTM: | 4% |
Compounded Profit Growth | |
---|---|
10 Years: | 7% |
5 Years: | -4% |
3 Years: | -9% |
TTM: | -31% |
Stock Price CAGR | |
---|---|
10 Years: | 10% |
5 Years: | 8% |
3 Years: | 19% |
1 Year: | 46% |
Return on Equity | |
---|---|
10 Years: | 12% |
5 Years: | 10% |
3 Years: | 7% |
Last Year: | 8% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 26 |
Reserves | 1,265 | 1,411 | 1,606 | 1,824 | 2,121 | 2,308 | 2,664 | 3,157 | 3,494 | 3,556 | 3,909 | 3,938 | 3,988 |
Preference Capital | 74 | 74 | 74 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
992 | 1,301 | 1,232 | 836 | 806 | 594 | 312 | 211 | 252 | 262 | 10 | 16 | 15 | |
1,005 | 1,002 | 1,033 | 1,198 | 1,413 | 1,550 | 1,721 | 1,989 | 1,778 | 2,008 | 2,004 | 2,300 | 2,343 | |
Total Liabilities | 3,288 | 3,740 | 3,898 | 3,885 | 4,366 | 4,479 | 4,723 | 5,384 | 5,551 | 5,852 | 5,949 | 6,280 | 6,372 |
1,244 | 1,619 | 1,632 | 1,836 | 1,822 | 1,750 | 1,730 | 1,777 | 1,926 | 1,949 | 1,913 | 1,851 | 1,799 | |
CWIP | 207 | 114 | 82 | 90 | 61 | 137 | 72 | 190 | 199 | 129 | 110 | 77 | 134 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 8 | 8 | 8 |
1,837 | 2,007 | 2,183 | 1,959 | 2,483 | 2,591 | 2,921 | 3,417 | 3,425 | 3,768 | 3,918 | 4,344 | 4,431 | |
Total Assets | 3,288 | 3,740 | 3,898 | 3,885 | 4,366 | 4,479 | 4,723 | 5,384 | 5,551 | 5,852 | 5,949 | 6,280 | 6,372 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
188 | 152 | 290 | 841 | 539 | 544 | 563 | 643 | 508 | 620 | 900 | -120 | |
-334 | -428 | -158 | -329 | -245 | -234 | -197 | -430 | -402 | -152 | -160 | -121 | |
205 | 211 | -172 | -572 | -297 | -301 | -364 | -196 | -95 | -88 | -287 | -292 | |
Net Cash Flow | 59 | -64 | -40 | -60 | -3 | 9 | 3 | 17 | 10 | 380 | 453 | -533 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 72 | 76 | 83 | 75 | 84 | 100 | 97 | 85 | 76 | 120 | 78 | 68 |
Inventory Days | 261 | 304 | 301 | 283 | 330 | 333 | 271 | 326 | 312 | 561 | 302 | 321 |
Days Payable | 250 | 148 | 116 | 173 | 200 | 204 | 175 | 186 | 156 | 311 | 206 | 161 |
Cash Conversion Cycle | 83 | 232 | 268 | 184 | 214 | 229 | 193 | 225 | 232 | 370 | 174 | 228 |
Working Capital Days | 59 | 73 | 67 | 38 | 37 | 50 | 57 | 49 | 59 | 74 | 31 | 50 |
ROCE % | 14% | 13% | 14% | 16% | 18% | 14% | 22% | 28% | 17% | 5% | 13% | 11% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2d - Post announcement of Financial Results of the company for the quarter and year ended March 31, 2024, the company will host an Q4 FY24 Earnings …
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Announcement Under SEBI Listing Regulations
2 May - The Company has appointed Mr. Harsh Vardhan Sharma, Director Transformation and Strategy, who is a member of core management team of the Company with effect …
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 27 Apr
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 27 Apr
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
24 Apr - Listing Regulations, 2015, disclosure is hereby being made with respect to information on United Breweries Limited published in the Media by Heineken N.V. (Promoter Group) …
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Concalls
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Feb 2024Transcript PPT
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Oct 2023Transcript PPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT
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Feb 2023Transcript PPT
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Oct 2022TranscriptPPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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Feb 2022Transcript PPT
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Aug 2021Transcript PPT
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Jun 2021TranscriptPPT
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May 2021Transcript PPT
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Nov 2020Transcript PPT
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Aug 2020TranscriptPPT
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Jun 2020TranscriptPPT
Brand Portfolio
The 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]