Fast Moving Consumer Goods · NIFTY 500

United Breweries Limited

NSEUBL BSE532478 ISININE686F01025 SeriesEQ Listed on NSE · BSE

₹1,218.60 -2.40 (-0.20%) Updated 12 Nov, 7:17 pm IST

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Price, daily close-34.44% in a year

Today

Open: ₹1,220.00
Prev close: ₹1,221.00
Day high: ₹1,235.10
Day low: ₹1,213.20
Volume: 75.8 K
Value traded: ₹9.28 Cr
Upper circuit: ₹1,465.20
Lower circuit: ₹976.80
52W high: ₹1,827.90
52W low: ₹1,128.60
1 month: +2.32%
6 months: -15.76%

52W low52W high

Ratios

Key numbers

Worked out from the latest filings (Consolidated) and today's price. TTM = last four quarters.

Market cap₹32,220 Cr

P/E (TTM)66.52

P/B7.06

Book value / share₹172.50

EPS (TTM)₹18.32

ROE10.6%

Dividend yield0.82%

Dividend (12m)₹10.00 / share

Net margin (TTM)2.6%

Operating margin5.6%

Debt / equity0.22

Current ratio1.37

EV / EBITDA34.02

Sales growth (YoY qtr)+23.70%

Profit growth (YoY qtr)+190.86%

Sales CAGR 3Y+1.60%

Profit CAGR 3Y+10.77%

Shares26.44 Cr

Quarterly results

Results for each quarter

Last 12 quarters, consolidated, ₹ crore. Hover a bar to see the number.

Revenue and net profit

4,15585.3

Dec 23

4,78981.2

Mar 24

5,811174

Jun 24

4,744132

Sep 24

4,42738.4

Dec 24

4,42797.6

Mar 25

5,381184

Jun 25

3,73746.5

Sep 25

3,93781.0

Dec 25

4,408102

Mar 26

5,919166

Jun 26

4,623135

Sep 26

Revenue · QoQ (vs last quarter)

—+15%+21%-18%-6.7%+0.0%+22%-31%+5.3%+12%+34%-22%

Revenue · YoY (vs a year ago)

————+6.5%-7.5%-7.4%-21%-11%-0.4%+10%+24%

Net profit · QoQ (vs last quarter)

—-4.9%+114%-24%-71%+154%+88%-75%+74%+26%+63%-19%

Net profit · YoY (vs a year ago)

————-55%+20%+5.9%-65%+111%+4.3%-9.5%+191%

RevenueNet profitLine = trend

3.23

Dec 23

3.07

Mar 24

6.56

Jun 24

5.00

Sep 24

1.45

Dec 24

3.69

Mar 25

6.95

Jun 25

1.76

Sep 25

3.06

Dec 25

3.85

Mar 26

6.29

Jun 26

5.12

Sep 26

EPS (₹) · YoY (vs a year ago)

————-55%+20%+5.9%-65%+111%+4.3%-9.5%+191%

EPS (₹)Line = trend

₹ Cr	Dec 23	Mar 24	Jun 24	Sep 24	Dec 24	Mar 25	Jun 25	Sep 25	Dec 25	Mar 26	Jun 26	Sep 26
Revenue	4,155	4,789	5,811	4,744	4,427	4,427	5,381	3,737	3,937	4,408	5,919	4,623
Other income	24.8	26.5	7.4	10.4	10.1	8.0	11.1	14.9	11.1	8.2	50.7	41.3
Total income	4,180	4,815	5,819	4,754	4,437	4,435	5,392	3,752	3,948	4,417	5,970	4,664
Raw material	1,008	1,218	1,357	1,189	1,132	1,258	1,543	1,080	1,262	1,113	1,640	1,384
Purchases	33.2	25.6	36.6	53.9	33.2	58.1	80.3	84.6	83.2	56.7	42.8	54.6
Employee cost	110	126	132	175	168	191	199	186	181	195	216	207
Other expenses	2,881	3,281	3,988	3,156	2,982	2,707	3,228	2,250	2,401	2,848	3,614	2,758
Total expenses	4,063	4,705	5,585	4,576	4,350	4,303	5,144	3,686	3,797	4,374	5,746	4,482
Operating profit	146	143	285	227	116	187	311	130	207	213	283	259
OPM %	3.5%	3.0%	4.9%	4.8%	2.6%	4.2%	5.8%	3.5%	5.3%	4.8%	4.8%	5.6%
Finance cost	2.1	1.8	1.6	2.2	3.2	5.9	11.2	14.7	16.9	29.0	23.0	28.3
Depreciation	51.8	57.8	57.7	57.2	61.3	56.8	62.9	64.1	69.0	76.0	85.8	89.3
Exceptional items	—	—	—	—	-25.8	—	—	—	-18.7	74.0	—	—
Profit before tax	117	110	233	178	61.3	132	248	65.8	132	116	224	183
Tax	31.1	28.2	59.6	46.0	22.8	34.3	63.9	19.5	51.1	14.5	58.2	47.9
Net profit	85.8	81.6	174	132	38.5	97.8	184	46.3	81.2	102	166	135
Profit to shareholders	85.3	81.2	174	—	38.4	97.6	184	46.5	81.0	102	166	135
EPS (₹)	3.23	3.07	6.56	5.00	1.45	3.69	6.95	1.76	3.06	3.85	6.29	5.12

Profit & loss

Results for each year

7 financial years (April to March), consolidated, ₹ crore.

Sales, operating profit and net profit

14,651876428

FY20

10,186374113

FY21

1317.03.7

FY22

16,651583304

FY23

18,380696410

FY24

19,409815442

FY25

17,463861413

FY26

Revenue · YoY (vs a year ago)

—-30%-99%+12,588%+10%+5.6%-10%

Net profit · YoY (vs a year ago)

—-74%-97%+8,218%+35%+7.7%-6.5%

RevenueOperating profitNet profitLine = trend

₹ Cr	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	14,651	10,186	131	16,651	18,380	19,409	17,463
Other income	9.3	50.3	0.3	49.4	73.7	35.9	45.2
Total expenses	14,092	10,059	127	16,250	17,902	18,814	17,002
Employee cost	504	485	5.2	412	452	718	762
Operating profit	876	374	7.0	583	696	815	861
OPM %	6.0%	3.7%	5.3%	3.5%	3.8%	4.2%	4.9%
Finance cost	31.1	22.7	0.1	4.6	6.9	12.9	71.7
Depreciation	285	232	2.2	211	212	233	272
Profit before tax	569	169	4.9	417	551	605	562
Tax	141	55.6	1.3	113	140	163	149
Tax rate %	24.7%	32.8%	26.0%	27.0%	25.5%	26.9%	26.5%
Net profit	428	114	3.7	305	411	442	413
Profit to shareholders	428	113	3.7	304	410	442	413
Net margin %	2.9%	1.1%	2.8%	1.8%	2.2%	2.3%	2.4%
EPS (₹)	16.18	4.28	13.82	11.50	15.51	16.71	15.63

Balance sheet

Assets and debt

At each year end (and the latest half year), ₹ crore.

Equity, debt and assets

3,965330

Mar 23

4,17877.4129

Mar 24

4,364620342

Mar 25

4,5221,175460

Mar 26

4,561990489

Sep 26

Shareholders' equity · YoY (vs a year ago)

—+5.4%+4.4%+3.6%—

Shareholders' equityBorrowingsCashLine = trend

₹ Cr	Mar 23	Mar 24	Mar 25	Mar 26	Sep 26
Shareholders' equity	3,965	4,178	4,364	4,522	4,561
Long-term borrowings	0.0	0.0	35.7	0.0	465
Short-term borrowings	0.0	77.4	584	1,175	525
Total borrowings	—	77.4	620	1,175	990
Current liabilities	2,277	2,829	3,783	5,033	4,328
Fixed assets (PPE)	1,832	1,760	1,735	2,038	2,131
Inventories	1,428	1,369	1,616	2,150	1,988
Trade receivables	1,407	2,314	2,861	2,944	2,756
Cash & equivalents	330	129	342	460	489
Current assets	3,682	4,411	5,674	6,226	5,915
Total assets	6,280	7,053	8,223	9,693	9,474
Debt / equity	—	0.02	0.14	0.26	0.22

Cash flow

Cash coming in and going out

For each financial year, ₹ crore. Free cash flow = cash from operations minus spending on fixed assets.

Operating, investing and financing cash

9.0-1.6-2.9

FY22

-120-121-292

FY23

77.3-148-130

FY24

235-239217

FY25

435-40991.5

FY26

Operations · YoY (vs a year ago)

—-1,429%+165%+204%+85%

OperationsInvestingFinancingLine = trend

₹ Cr	FY22	FY23	FY24	FY25	FY26
Cash from operations	9.0	-120	77.3	235	435
Cash from investing	-1.6	-121	-148	-239	-409
Cash from financing	-2.9	-292	-130	217	91.5
Spent on fixed assets	-1.7	-156	-192	-258	-512
Free cash flow	7.3	-276	-114	-23.3	-76.8
Net cash flow	4.5	-533	-201	213	117

Shareholding

Who holds the shares

Promoter and public holding at each quarter end, as filed with NSE.

Holding over time

70.8%Dec 23

70.8%Mar 24

70.8%Jun 24

70.8%Sep 24

70.8%Dec 24

70.8%Mar 25

70.8%Jun 25

70.8%Sep 25

70.8%Dec 25

70.8%Mar 26

70.8%Jun 26

70.8%Sep 26

Promoter & groupPublic

Latest (30 Sep 2026)

70.8%promoter

Promoter & group: 70.83%
Public (FIIs, mutual funds, retail…): 29.17%
Promoter change, last quarter: 0.00 pts

Dividends & news

Latest dividends and announcements

Dividends & corporate actions

Dividend - Rs 10 Per ShareEx 07-Aug-2026
Dividend - Rs 10 Per ShareEx 31-Jul-2025
Dividend - Rs 10 Per ShareEx 25-Jul-2024
Annual General Meeting/Dividend - Rs 7.50 Per ShEx 03-Aug-2023
Annual General Meeting/Dividend - Rs 10.50 Per ShEx 02-Aug-2022
Annual General Meeting/Dividend - Rs 0.50 Per ShareEx 01-Jul-2021
Annual General Meeting/Dividend - Rs 2.50 Per ShareEx 18-Aug-2020
Annual General Meeting/Dividend - Rs 2.50 Per ShareEx 13-Aug-2019

Board meetings

UNITED BREWERIES LIMITED has informed the Exchange about Board Meeting to be held on 27-Oct-2026 to inter-alia consider and approve the Audited Finan…27-Oct-2026
the financial results for the period ended September 30, 202627-Oct-2026
UNITED BREWERIES LIMITED has informed the Exchange about Board Meeting to be held on 04-Aug-2026 to inter-alia consider and approve the Unaudited Fin…04-Aug-2026
the financial results for the period ended Jun 30, 202604-Aug-2026
the Yearly Audited Financial results of the Company for the period ended March 2026 and Dividend.05-May-2026

Filings with NSE

Analysts/Institutional Investor Meet/Con. Call Updates2 Nov
Copy of Newspaper Publication29 Oct
Analysts/Institutional Investor Meet/Con. Call Updates28 Oct
Investor Presentation27 Oct
Outcome of Board Meeting27 Oct
Analysts/Institutional Investor Meet/Con. Call Updates15 Oct
Analysts/Institutional Investor Meet/Con. Call Updates14 Oct

Latest news

United Breweries shares see biggest single-day decline in eight months, fall to 52-week low - CNBC TV18LinkedIn · 8 Sep, 12:30 pm United Breweries shares rise as it announces expansion of Heineken Silver across three statesCNBC TV18 · 26 Aug, 12:30 pm United Breweries up 5% on cost optimisation bid to offset West Asia impactBusiness Standard · 21 Jul, 12:30 pm United Breweries (BSE:532478) Stock Forecast & Analyst PredictionsSimply Wall St · 30 Oct, 12:30 pm United Breweries shares fall nearly 5% after Q4 results. Is it time to buy or sell?Livemint · 6 May, 12:30 pm United Breweries shares tumble to 52-week low as Q4 revenue declines amid Middle East conflict; dividend recommendedUpstox · 5 May, 12:30 pm United Spirits, United Breweries shares rise up to 6.5% as Karnataka govt revamps liquor policyMoneycontrol.com · 6 Mar, 1:30 pm United Breweries Share Price Falls 2.23%: Valuation ViewUnivest · 21 Oct, 12:30 pm

About

About United Breweries Limited

United Breweries Holdings Limited (UBHL), also called UB Group, is the Indian subsidiary of Heineken N.V.. It is headquartered in UB City, Bangalore, Karnataka. Its core business includes beverages and investments in various sectors. The company markets beer under the Kingfisher brand, and owns various other brands of alcoholic beverages. United Breweries is India's largest producer of beer.

From Wikipedia (CC BY-SA 4.0).

BRANDS

Heineken

Company details

Company name: United Breweries Limited
NSE symbol: UBL
BSE scrip code: 532478
ISIN: INE686F01025
Listed on: NSE, BSE
Series: EQ (normal equity)
Listed on NSE since: 28 Jul 2008
Face value: ₹1 per share
Market lot: 1 share
Shares issued: 26.44 crore
Index: NIFTY 500
Sector (NSE): Fast Moving Consumer Goods
Industry: Beverages: Alcoholic
Managing director / CEO: Vivek Gupta
Chair: Anand Kripalu
Headquarters: Bengaluru, Karnataka, India
Registered address: UB TOWER, UB CITY, #24 VITTAL MALLYA ROAD, BENGALURU - 560 001
Founded: 1890
Employees: 2,964
Financial year: April to March
Results basis: Consolidated
Website: unitedbreweries.com

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Prices from NSE via Upstox. Financials from the company's results filed with NSE (XBRL); ratios are our own working. Profile from global-stock-logos (MIT). For information only, not a recommendation to buy or sell.

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United Breweries Limited

Today

Ratios

Quarterly results

Revenue and net profit

Profit & loss

Sales, operating profit and net profit

Balance sheet

Equity, debt and assets

Cash flow

Operating, investing and financing cash

Shareholding

Holding over time

Latest (30 Sep 2026)

Dividends & news

Dividends & corporate actions

Board meetings

Filings with NSE

Latest news

About

Company details

Peers