United Breweries Ltd

United Breweries Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

United Breweries Ltd

₹ 1,559 -2.95%
27 Mar - close price
unitedbreweries.com BSE: 532478 NSE: UBL
About

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

Key Points

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]

Website BSE NSE
  • Market Cap ₹ 41,221 Cr.
  • Current Price ₹ 1,559
  • High / Low ₹ 2,295 / 1,401
  • Stock P/E 98.2
  • Book Value ₹ 164
  • Dividend Yield 0.64 %
  • ROCE 13.9 %
  • ROE 10.8 %
  • Face Value ₹ 1.00
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Pros

  • Company has been maintaining a healthy dividend payout of 63.3%

Cons

  • Stock is trading at 9.50 times its book value
  • Company has a low return on equity of 9.73% over last 3 years.
  • Debtor days have increased from 96.6 to 117 days.

* 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

Fast Moving Consumer Goods Fast Moving Consumer Goods Beverages Breweries & Distilleries

Part of BSE 500 BSE Fast Moving Consumer Goods BSE 200 BSE Dollex 200 Nifty 500

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
1,611 1,764 2,273 1,888 1,823 2,132 2,473 2,115 1,998 2,321 2,862 2,051 2,071
1,534 1,711 2,050 1,703 1,677 1,990 2,188 1,888 1,857 2,135 2,552 1,921 1,846
Operating Profit 77 53 223 185 146 142 285 227 141 186 311 130 225
OPM % 5% 3% 10% 10% 8% 7% 12% 11% 7% 8% 11% 6% 11%
-20 12 10 12 24 26 7 11 -16 8 11 15 -8
Interest 2 1 2 1 2 2 2 2 3 6 11 15 17
Depreciation 50 51 51 51 52 58 58 57 61 57 63 64 69
Profit before tax 5 13 180 145 116 109 233 178 61 132 247 67 132
Tax % 145% 26% 24% 26% 27% 26% 26% 26% 37% 26% 26% 29% 39%
-2 10 136 108 85 81 173 132 38 97 184 47 81
EPS in Rs -0.08 0.37 5.15 4.07 3.21 3.06 6.55 5.00 1.45 3.68 6.95 1.78 3.06
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
4,236 4,692 4,839 4,734 5,629 6,472 6,505 4,241 5,832 7,492 8,115 8,907 9,306
3,639 4,071 4,109 4,093 4,727 5,335 5,630 3,861 5,137 6,877 7,420 8,068 8,454
Operating Profit 597 621 730 641 902 1,138 874 380 695 614 695 839 852
OPM % 14% 13% 15% 14% 16% 18% 13% 9% 12% 8% 9% 9% 9%
15 37 48 52 12 32 9 43 30 16 73 10 26
Interest 80 73 81 59 48 31 31 23 15 5 7 13 49
Depreciation 198 207 244 287 260 260 285 232 217 210 212 233 252
Profit before tax 334 378 453 347 607 878 567 168 493 415 549 603 577
Tax % 32% 31% 34% 34% 35% 36% 25% 33% 26% 27% 25% 27%
226 260 298 229 394 563 427 113 365 303 409 441 409
EPS in Rs 8.53 9.82 11.27 8.67 14.90 21.28 16.16 4.27 13.80 11.48 15.48 16.69 15.47
Dividend Payout % 11% 10% 10% 13% 13% 12% 15% 12% 76% 65% 65% 60%
Compounded Sales Growth
10 Years: 7%
5 Years: 6%
3 Years: 15%
TTM: 7%
Compounded Profit Growth
10 Years: 6%
5 Years: 1%
3 Years: 8%
TTM: -4%
Stock Price CAGR
10 Years: 7%
5 Years: 5%
3 Years: 3%
1 Year: -22%
Return on Equity
10 Years: 11%
5 Years: 9%
3 Years: 10%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 26 26 26 26 26 26 26 26 26 26 26 26 26
Reserves 1,605 1,823 2,119 2,306 2,662 3,155 3,492 3,553 3,906 3,935 4,148 4,333 4,312
1,306 836 806 594 312 211 252 262 10 16 102 620 777
958 1,195 1,410 1,547 1,719 1,985 1,774 2,003 1,999 2,294 2,767 3,232 3,041
Total Liabilities 3,896 3,881 4,362 4,474 4,719 5,379 5,544 5,845 5,941 6,271 7,043 8,212 8,157
1,607 1,811 1,797 1,726 1,705 1,752 1,901 1,942 1,905 1,843 1,768 1,740 1,791
CWIP 82 90 61 137 72 190 199 128 110 77 173 251 433
Investments 25 25 25 26 26 26 26 14 16 16 16 16 15
2,181 1,954 2,478 2,586 2,916 3,411 3,418 3,761 3,910 4,335 5,087 6,205 5,917
Total Assets 3,896 3,881 4,362 4,474 4,719 5,379 5,544 5,845 5,941 6,271 7,043 8,212 8,157

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
290 839 539 544 562 644 507 619 899 -121 77 234
-157 -327 -245 -234 -196 -430 -402 -151 -160 -120 -148 -238
-173 -572 -297 -301 -363 -198 -95 -88 -286 -292 -130 217
Net Cash Flow -40 -60 -3 9 3 17 10 380 453 -533 -201 212

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 83 75 84 100 97 85 76 120 79 69 104 117
Inventory Days 293 276 322 326 265 323 310 555 300 318 296 325
Days Payable 113 170 196 200 172 185 154 308 204 160 206 231
Cash Conversion Cycle 262 182 211 226 190 223 231 368 174 227 195 211
Working Capital Days 24 23 21 34 53 48 50 62 31 49 62 50
ROCE % 14% 16% 19% 14% 22% 28% 17% 5% 13% 11% 13% 14%

Insights

In beta
Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Jun 2025
Contract Manufacturing Units
Number

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Owned Breweries
Number
Total Manufacturing Units
Number
Beer Sales Volume
Million Cases
Market Share (Beer)
%
Kingfisher Ultra Sales
Million Cases
Kingfisher Ultra Max Sales
Million Cases
Visi-Cooler Footprint
Number

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
72.72% 72.72% 71.00% 70.84% 70.84% 70.84% 70.84% 70.84% 70.84% 70.84% 70.84% 70.84%
6.43% 6.31% 6.70% 6.71% 6.63% 6.43% 6.26% 6.43% 6.92% 6.73% 6.26% 5.50%
14.41% 14.65% 15.97% 16.06% 16.12% 16.38% 16.62% 16.52% 16.17% 16.37% 16.68% 17.45%
1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16%
5.27% 5.16% 5.19% 5.22% 5.25% 5.19% 5.13% 5.06% 4.93% 4.92% 5.07% 5.07%
No. of Shareholders 63,47569,38467,95465,41866,91467,86866,79468,48368,80271,17778,87781,332

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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