United Breweries Limited UBL NIFTY_MIDNSE

Consumer Defensive · Beverages - Brewers · India

https://www.unitedbreweries.com

United Breweries Limited engages in manufacture, purchase, and sale of beer and non-alcoholic beverages in India and internationally. The company offers beer products under the Heineken Original, Heineken Silver, Kingfisher Premium, Kingfisher Strong, Kingfisher Ultra, Kingfisher Ultra Max, Kingfisher Ultra Witbier, Amstel Bier, Amstel Grande, Bullet, Bullet Super Strong, Cannon 10000, Zingaro, Kingfisher Storm, Kingfisher Blue, Kingfisher Flavour Mango and lemon, Kalyani Black Label, UB Export Lager, UB Export Strong, London Pilsner Premium, London Pilsner Premium Strong, and Queenfisher brands; and non-alcoholic products under the Kingfisher Premium Packaged Drinking Water, Kingfisher Strong Power Soda, Kingfisher Ultra-Premium Soda, and Heineken 0.0. It also licenses its brands; and offers contract manufacturing services. In addition, the company is involved in scrap sales. The company was founded in 1915 and is based in Bengaluru, India. United Breweries Limited operates as a subsidiary of Heineken N.V.

Market & Price

Market Cap

₹34,901.48 Cr

Current Price

₹1,320.00

High / Low (52W)

₹2,076.40 / ₹1,315.20

Beta

0.05

Valuation

Stock P/E

84.72

Industry PE

23.47

Forward P/E

45.12

PEG Ratio

Book Value

₹164.32

Price to Book

8.03

P/S

3.78

EV/EBITDA

44.25

Dividend Yield

0.76%

Profitability & Returns

ROCE

13.61%

ROE

9.29%

ROA

3.72%

Profit Margin

4.47%

Op Margin

2.81%

EPS (Latest Qtr)

₹3.85

EPS (TTM)

₹15.58

Balance Sheet & Liquidity

Debt/Equity

0.29

Quick Ratio

0.70

Current Ratio

1.24

Debt

₹1,316.53 Cr

Total Assets

₹9,692.57 Cr

Current Assets

₹6,226.16 Cr

Working Capital

₹1,193.01 Cr

Ownership

Promoter Holding

72.83%

Chg in Prom Hold

FII / Inst Holding

20.30%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹35,646.71 Cr

Total Revenue (TTM)

₹9,239.94 Cr

EBITDA

₹805.52 Cr

Free Cash Flow

₹122.66 Cr

Operating Cash Flow

₹434.95 Cr

Shares Outstanding

₹26.44 Cr

Gross Margin

44.05%

Payout Ratio

63.98%

Growth (CAGR)

Revenue 5Y

8.02%

Profit 5Y

10.77%

Revenue (YoY)

-3.10%

Earnings (YoY)

4.30%

PROS

Profit CAGR of 10.8% over 5 years.
Generates positive free cash flow.

CONS

Trading at a high P/E of 84.7.
Trading 36.4% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Consumer Defensive).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	UBL United Breweries Limited NIFTY_MIDNSE	1,320.00	84.72	₹34,901.48 Cr	0.76%	13.61%	9.29%	8.02%	10.77%
2	HINDUNILVR Hindustan Unilever Limited NIFTY50NSE	2,153.50	47.62	₹5.06 L Cr	2.04%	22.15%	21.60%	2.31%	14.12%
3	ITC ITC Limited NIFTY50NSE	286.90	17.39	₹3.59 L Cr	5.58%	36.47%	29.34%	3.65%	2.54%
4	NESTLEIND Nestlé India Limited NIFTY50NSE	1,421.50	78.10	₹2.74 L Cr	0.84%	59.30%	76.34%	17.01%	23.05%
5	DMART Avenue Supermarts Limited NSE	4,054.50	88.49	₹2.64 L Cr	-	16.41%	12.94%	17.21%	7.69%
6	VBL Varun Beverages Limited NSE	528.00	56.17	₹1.79 L Cr	0.38%	19.44%	-	17.26%	26.57%
7	TATACONSUM Tata Consumer Products Limited NIFTY50NSE	1,178.40	75.78	₹1.17 L Cr	0.85%	8.29%	6.94%	13.87%	8.61%
8	MARICO Marico Limited NIFTY_MIDNSE	821.70	60.60	₹1.06 L Cr	0.49%	39.00%	41.39%	12.00%	10.61%
9	GODREJCP Godrej Consumer Products Limited NSE	1,029.30	56.49	₹1.05 L Cr	1.94%	21.44%	15.10%	4.59%	3.02%

Quarterly Results

Figures in INR.

Metric	Dec 2024	Mar 2025	Jun 2025	Dec 2025	Mar 2026
Revenue	2,000.26 Cr	2,322.98 Cr	2,864.32 Cr	2,072.72 Cr	2,250.07 Cr
Cost of Revenue	1,134.65 Cr	1,341.73 Cr	1,642.88 Cr	1,129.45 Cr	1,225.72 Cr
Gross Profit	865.61 Cr	981.25 Cr	1,221.44 Cr	943.27 Cr	1,024.35 Cr
Operating Expenses	785.47 Cr	851.31 Cr	973.46 Cr	786.48 Cr	961.18 Cr
Operating Income	80.14 Cr	129.94 Cr	247.98 Cr	156.79 Cr	63.17 Cr
EBITDA	125.86 Cr	194.72 Cr	321.98 Cr	218.11 Cr	221.37 Cr
Interest Expense	3.20 Cr	5.88 Cr	11.17 Cr	16.86 Cr	29.04 Cr
Pretax Income	61.32 Cr	132.07 Cr	247.88 Cr	132.29 Cr	116.32 Cr
Tax Provision	22.80 Cr	34.31 Cr	63.85 Cr	51.14 Cr	14.45 Cr
Net Income	38.40 Cr	97.57 Cr	183.87 Cr	81.00 Cr	101.78 Cr
Diluted EPS	1.45	3.69	6.95	3.06	3.85

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	7,330.60 Cr	7,876.49 Cr	8,915.09 Cr	9,239.94 Cr
Cost of Revenue	-	4,429.22 Cr	4,834.67 Cr	5,068.51 Cr	5,169.56 Cr
Gross Profit	-	2,901.38 Cr	3,041.82 Cr	3,846.58 Cr	4,070.38 Cr
Operating Expenses	-	2,495.70 Cr	2,556.97 Cr	3,238.75 Cr	3,536.85 Cr
Operating Income	-	405.68 Cr	484.85 Cr	607.83 Cr	533.53 Cr
EBITDA	-	632.33 Cr	769.74 Cr	850.95 Cr	906.00 Cr
Interest Expense	-	4.43 Cr	6.70 Cr	12.86 Cr	71.72 Cr
Pretax Income	-	417.31 Cr	551.14 Cr	605.11 Cr	562.29 Cr
Tax Provision	-	112.63 Cr	140.28 Cr	162.70 Cr	148.90 Cr
Net Income	-	303.98 Cr	410.03 Cr	441.69 Cr	413.17 Cr
Diluted EPS	13.82	11.50	15.51	16.71	-

Compounded Sales Growth

5 Years:	8.02%
1 Year:	-3.10%

Compounded Profit Growth

5 Years:	10.77%
1 Year:	4.30%

Stock Price Performance

1 Year:	-33.81%
6 Months:	-22.58%
3 Months:	-19.19%
1 Month:	-10.18%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	6,280.39 Cr	7,053.37 Cr	8,222.79 Cr	9,692.57 Cr
Current Assets	-	3,686.45 Cr	4,415.47 Cr	5,452.92 Cr	6,226.16 Cr
Cash & Equivalents	-	329.86 Cr	129.15 Cr	341.92 Cr	460.08 Cr
Inventory	-	1,427.81 Cr	1,368.74 Cr	1,616.43 Cr	2,150.28 Cr
Receivables	-	1,407.32 Cr	2,313.84 Cr	2,860.63 Cr	2,943.98 Cr
Total Liabilities	-	2,310.89 Cr	2,869.81 Cr	3,853.15 Cr	5,164.73 Cr
Current Liabilities	-	2,277.46 Cr	2,829.13 Cr	3,783.01 Cr	5,033.15 Cr
Long Term Debt	0	-	-	-	-
Total Debt	-	15.62 Cr	102.03 Cr	619.98 Cr	1,316.53 Cr
Total Equity	-	3,964.89 Cr	4,178.34 Cr	4,363.92 Cr	4,522.10 Cr
Shares Outstanding	-	26.44 Cr	26.44 Cr	26.44 Cr	26.44 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	-119.57 Cr	69.50 Cr	213.54 Cr	434.95 Cr
Investing Cash Flow	-	-120.83 Cr	-147.81 Cr	-237.76 Cr	-409.05 Cr
Financing Cash Flow	-	-292.34 Cr	-122.40 Cr	236.99 Cr	91.51 Cr
Capital Expenditure	-	-156.28 Cr	-191.50 Cr	-258.30 Cr	-511.72 Cr
Free Cash Flow	-	-275.85 Cr	-122.00 Cr	-44.76 Cr	-76.77 Cr
Net Change in Cash	-	-532.74 Cr	-200.71 Cr	212.77 Cr	117.41 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	39.6%	38.6%	43.1%	44.1%
Operating Margin %	-	5.5%	6.2%	6.8%	5.8%
Net Margin %	-	4.1%	5.2%	5.0%	4.5%
ROE %	-	7.7%	9.8%	10.1%	9.1%
ROCE %	-	10.1%	11.5%	13.7%	11.5%

Shareholding Pattern

Insiders

72.83%

Institutions

20.30%

Public Float

74.73%

Analyst View

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UBL · Consumer Defensive