United Breweries Ltd

United Breweries is engaged in the manufacture and sale of beer. The Company has manufacturing facilities in India.

  • Market Cap: 25,528 Cr.
  • Current Price: 965.50
  • 52 weeks High / Low 1403.25 / 749.50
  • Book Value: 133.14
  • Stock P/E: 59.68
  • Dividend Yield: 0.26 %
  • ROCE: 28.46 %
  • ROE: 19.16 %
  • Sales Growth (3Yrs): 10.24 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 1.00
Edit ratios
Pros:
Company has reduced debt.
Company is virtually debt free.
Company has delivered good profit growth of 20.02% CAGR over last 5 years
Cons:
Stock is trading at 7.25 times its book value
The company has delivered a poor growth of 8.89% over past five years.
Promoter holding has decreased over last 3 years: -16.15%

Peer comparison Sector: Alcoholic Beverages // Industry: Breweries & Distilleries

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020
1,867 1,527 1,452 1,630 2,050 1,580 1,455 1,425
1,466 1,209 1,204 1,458 1,721 1,387 1,233 1,292
Operating Profit 401 317 248 172 329 192 222 133
OPM % 21% 21% 17% 11% 16% 12% 15% 9%
Other Income 16 3 2 11 3 2 4 1
Interest 9 4 6 12 8 9 10 5
Depreciation 64 66 67 64 69 69 74 73
Profit before tax 343 251 178 107 255 116 142 56
Tax % 35% 35% 38% 36% 36% 1% 24% 25%
Net Profit 222 163 109 68 165 115 107 42
EPS in Rs 8.41 6.15 4.14 2.59 6.23 4.34 4.05 1.56
Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
1,559 1,929 2,276 3,060 3,559 3,899 4,230 4,688 4,833 4,729 5,619 6,475 6,509
1,373 1,702 2,041 2,669 3,167 3,421 3,632 4,066 4,140 4,087 4,716 5,337 5,633
Operating Profit 186 227 234 390 393 478 597 622 693 642 903 1,138 876
OPM % 12% 12% 10% 13% 11% 12% 14% 13% 14% 14% 16% 18% 13%
Other Income 30 53 83 45 73 38 15 37 86 52 13 32 9
Interest 58 105 67 78 98 80 80 73 81 59 48 31 31
Depreciation 73 90 104 131 149 170 198 208 244 287 260 260 285
Profit before tax 85 86 147 227 218 266 335 379 455 348 608 879 569
Tax % 36% 47% 39% 35% 42% 35% 32% 31% 34% 34% 35% 36%
Net Profit 54 46 90 147 127 172 226 260 298 230 394 563 428
EPS in Rs 0.19 1.49 3.31 5.35 4.57 6.29 8.30 9.52 11.28 8.68 14.91 21.29 16.18
Dividend Payout % 0% 16% 10% 10% 15% 11% 11% 10% 10% 13% 13% 12%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:12.87%
5 Years:8.89%
3 Years:10.24%
TTM:0.52%
Compounded Profit Growth
10 Years:28.54%
5 Years:20.02%
3 Years:27.06%
TTM:-24.02%
Stock Price CAGR
10 Years:11.02%
5 Years:-0.25%
3 Years:7.02%
1 Year:-29.99%
Return on Equity
10 Years:13.64%
5 Years:15.01%
3 Years:15.43%
Last Year:19.16%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
315 318 318 273 101 101 101 26 26 26 26 26 26
Reserves 293 745 816 1,022 1,265 1,411 1,606 1,824 2,121 2,308 2,664 3,157 3,494
Borrowings 690 765 796 778 992 1,301 1,232 836 806 594 312 211 169
614 648 825 980 1,005 1,002 1,033 1,198 1,413 1,550 1,721 1,989 1,862
Total Liabilities 1,619 2,181 2,461 2,805 3,288 3,740 3,898 3,885 4,366 4,479 4,723 5,384 5,551
822 971 1,055 1,135 1,244 1,619 1,632 1,836 1,822 1,750 1,730 1,777 1,926
CWIP 169 97 60 72 207 114 82 90 61 137 72 190 199
Investments 0 90 49 0 0 0 0 0 0 0 0 0 0
628 1,023 1,296 1,599 1,837 2,007 2,183 1,959 2,483 2,591 2,921 3,417 3,425
Total Assets 1,619 2,181 2,461 2,805 3,288 3,740 3,898 3,885 4,366 4,479 4,723 5,384 5,551

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
111 -96 173 571 188 152 290 841 539 544 563 643
-319 -251 -87 -389 -334 -428 -158 -329 -245 -234 -197 -430
82 378 -45 -146 205 211 -172 -572 -297 -301 -364 -188
Net Cash Flow -126 30 42 36 59 -64 -40 -60 -3 9 3 25

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 12% 12% 11% 15% 14% 13% 14% 16% 18% 14% 22% 28%
Debtor Days 83 95 107 62 72 76 83 75 84 100 97 85
Inventory Turnover 3.20 3.42 2.81 2.24 2.05 1.70 1.53 1.58 1.48 1.34 1.59 1.46

Shareholding pattern in percentages

Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
73.87 73.35 73.35 73.35 57.72 57.72 57.72 57.72 57.72 57.72 57.72 57.72
16.38 16.70 16.91 16.84 16.78 16.95 16.40 15.72 14.57 11.85 10.42 10.69
4.31 4.01 3.71 3.75 3.73 3.47 3.83 4.54 5.79 8.19 9.42 8.92
0.09 0.62 0.62 0.62 16.15 16.15 16.15 16.15 16.15 16.15 16.15 16.15
5.35 5.32 5.41 5.45 5.62 5.70 5.90 5.86 5.77 6.08 6.29 6.52