United Breweries Ltd.

NSE: UBL · Fast Moving Consumer Goods

₹1,189.70-0.60%06 Nov 2026

Ask the data

Instant answers about United Breweries Ltd. — computed from its filings, no language model

Market cap₹31,456 cr

Current price₹1,189.70

High / Low₹1,815 / ₹1,136

P/E64.9

P/B6.90

Book value₹172.5

ROE10.6%

ROCE13.6%

Debt / equity0.22

Dividend yield0.79%

EPS (TTM)₹18.32

Face value₹1

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

	FY20	FY21	FY22	FY23	FY24	FY26
Revenue	14,651	10,186	131	16,651	18,380	17,463
EBITDA	876	381	7	616	696	806
Operating margin	6.0%	3.7%	5.3%	3.7%	3.8%	4.6%
Interest	31	23	0	5	7	72
Depreciation	285	232	2	211	212	272
Profit before tax	569	169	5	417	551	562
Tax	141	56	1	113	140	149
Net profit	428	113	4	304	410	413
EPS ₹	16.18	4.28	13.82	11.50	15.51	15.63
Operating cash flow	—	—	9	-120	77	435
Capex	—	—	2	156	192	512
Dividend paid	—	—	0	278	199	249
Total assets	5,551	5,852	5,949	6,280	7,053	9,693
Equity	3,520	3,582	3,935	3,965	4,178	4,522

Quarterly performance

last 27 quarters · ₹ crore

showing latest 8 of 27 periods

	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	3,589	3,254	3,100	1,263	2,239	3,066	3,618	2,653	3,295	3,512	37	3,674	3,700	4,081	5,243	4,193	4,155	4,789	5,811	4,744	4,427	5,381	3,737	3,937	4,408	5,919	4,623
Operating profit	192	222	133	-96	40	174	262	96	165	174	3	219	77	54	223	184	146	143	285	227	141	311	130	226	139	283	259
Operating margin	5.4%	6.8%	4.3%	-7.6%	1.8%	5.7%	7.2%	3.6%	5.0%	5.0%	7.1%	6.0%	2.1%	1.3%	4.3%	4.4%	3.5%	3.0%	4.9%	4.8%	3.2%	5.8%	3.5%	5.7%	3.2%	4.8%	5.6%
Other income	2	4	1	1	32	5	12	6	4	6	0	14	13	12	10	12	25	26	7	10	10	11	15	11	8	51	41
Interest	9	10	5	7	6	5	4	4	5	4	0	1	2	1	2	1	2	2	2	2	3	11	15	17	29	23	28
Depreciation	69	74	73	51	61	58	62	55	56	53	1	52	50	51	51	51	52	58	58	57	61	63	64	69	76	86	89
Profit before tax	116	142	56	-152	5	171	145	43	109	124	2	181	5	13	180	144	117	110	233	178	61	248	66	132	116	224	183
Tax	2	35	14	-38	2	44	48	12	29	33	1	46	7	4	44	37	31	28	60	46	23	64	19	51	14	58	48
Net profit	0	107	42	-114	0	127	97	31	80	91	2	134	-2	10	0	107	85	81	174	132	38	184	47	81	102	166	135
EPS ₹	4.34	4.05	1.56	-4.33	0.14	4.80	3.67	1.17	3.04	3.43	6.18	5.07	-0.07	0.37	5.15	4.06	3.23	3.07	6.56	5.00	1.45	6.95	1.76	3.06	3.85	6.29	5.12
Revenue YoY	—	—	—	—	-37.6%	-5.8%	16.7%	110.1%	47.2%	14.5%	-99.0%	11.5%	5.4%	11035.1%	—	14.1%	12.3%	17.3%	10.8%	13.1%	6.5%	-7.4%	-21.2%	-11.1%	—	10.0%	23.7%
Profit YoY	—	—	—	—	—	18.8%	133.6%	—	—	-28.4%	-98.3%	66.8%	-102.2%	501.8%	—	-20.0%	—	727.7%	—	23.4%	-55.0%	5.9%	-64.8%	110.9%	—	-9.5%	190.9%

Earlier results (standalone, Sep '07 – Jun '19)

₹ crore · from BSE, before the NSE XBRL filings begin

United Breweries Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 11 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†	FY18†	FY19†
Revenue	1,675	1,988	2,792	3,593	3,942	4,236	4,692	5,081	8,552	12,427	14,137
Operating profit	220	219	358	377	477	587	621	723	640	901	1,138
Operating margin	13.2%	11.0%	12.8%	10.5%	12.1%	13.9%	13.2%	14.2%	7.5%	7.3%	8.0%
Other income	46	78	73	108	39	24	38	45	52	13	32
Interest	64	62	61	95	80	80	73	76	59	48	31
Depreciation	76	89	104	149	170	198	207	244	287	260	260
Profit before tax	101	153	263	218	265	334	378	448	347	607	878
Tax	39	58	95	91	93	109	118	154	118	213	316
Net profit	62	95	168	126	172	226	260	295	229	394	563

Quarters

showing latest 8 of 48 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†	MAR '18†	JUN '18†	SEP '18†	DEC '18†	MAR '19†	JUN '19†
Revenue	281	301	383	475	363	373	464	556	412	447	573	776	567	610	840	944	733	961	955	1,226	874	839	1,004	1,359	845	953	1,078	1,445	1,086	1,000	1,162	1,500	1,133	1,158	1,291	1,562	2,201	2,231	2,558	3,810	2,738	2,608	3,271	4,158	3,332	3,188	3,459	4,707
Operating profit	24	22	51	64	35	35	86	71	37	46	65	137	51	66	104	134	55	75	113	189	110	84	93	250	38	149	150	253	125	122	122	264	150	183	125	290	121	128	101	318	222	153	208	400	318	248	171	329
Operating margin	8.6%	7.4%	13.3%	13.5%	9.7%	9.4%	18.6%	12.8%	9.0%	10.3%	11.4%	17.6%	9.0%	10.8%	12.4%	14.2%	7.6%	7.8%	11.8%	15.4%	12.6%	10.1%	9.2%	18.4%	4.5%	15.6%	13.9%	17.5%	11.5%	12.1%	10.5%	17.6%	13.3%	15.8%	9.7%	18.6%	5.5%	5.7%	4.0%	8.4%	8.1%	5.9%	6.4%	9.6%	9.6%	7.8%	5.0%	7.0%
Other income	9	5	7	6	9	15	17	19	16	21	22	18	17	17	21	19	18	51	20	15	1	3	20	3	3	4	14	12	7	12	6	2	3	12	28	15	1	33	4	6	1	1	5	15	4	2	11	3
Interest	10	9	15	17	18	16	14	17	16	15	14	13	12	13	22	24	18	27	26	19	17	21	23	23	20	18	19	22	18	18	15	20	20	18	17	15	14	15	14	14	13	9	11	9	4	6	12	8
Depreciation	13	17	19	17	18	20	21	20	21	22	26	24	24	24	33	23	24	53	48	38	43	42	47	47	48	51	52	50	49	55	53	58	60	62	64	64	70	70	83	65	65	65	65	64	66	67	64	69
Profit before tax	10	1	25	36	8	3	53	56	15	32	50	118	31	45	69	106	29	43	39	148	51	24	43	184	-27	84	93	194	65	60	60	188	73	115	72	226	38	76	8	246	145	79	137	343	252	177	106	255
Tax	-0	1	5	14	3	2	20	21	4	10	23	42	9	15	29	35	10	14	32	49	17	-9	37	63	-8	28	26	65	22	20	12	65	25	43	21	79	11	27	1	84	52	32	46	121	89	68	38	91
Net profit	11	1	20	23	5	1	33	36	12	21	26	76	22	30	40	71	20	29	7	99	34	34	6	121	-19	56	68	129	43	40	48	123	48	72	51	147	27	48	7	162	94	47	91	222	164	109	68	165
EPS ₹	0.39	-0.07	0.91	0.87	0.13	-0.03	1.03	1.39	0.40	0.80	1.00	3.08	0.82	1.15	1.49	2.76	0.73	1.05	0.25	3.71	1.27	1.24	0.19	4.55	-0.73	2.08	2.53	4.85	1.59	1.48	1.79	4.64	1.83	2.73	1.94	5.56	1.02	1.84	0.25	6.12	3.55	1.79	3.44	8.39	6.20	4.13	2.57	6.22
Revenue YoY	—	—	—	—	29.4%	23.9%	20.9%	17.2%	13.5%	19.6%	23.6%	39.4%	37.5%	36.5%	46.5%	21.7%	29.3%	57.6%	13.7%	29.9%	19.2%	-12.7%	5.1%	10.9%	-3.2%	13.6%	7.4%	6.3%	28.4%	5.0%	7.8%	3.8%	4.3%	15.7%	11.1%	4.1%	94.4%	92.7%	98.1%	143.9%	24.4%	16.9%	27.9%	9.1%	21.7%	22.3%	5.7%	13.2%
Profit YoY	—	—	—	—	-51.0%	113.0%	68.0%	57.1%	126.9%	1346.3%	-20.5%	114.5%	87.1%	40.3%	53.3%	-6.7%	-10.9%	-4.0%	-81.8%	38.9%	75.2%	17.1%	-19.6%	22.6%	-154.3%	65.6%	1057.4%	6.5%	—	-28.0%	-28.9%	-4.7%	13.1%	80.6%	6.9%	19.7%	-43.9%	-32.8%	-86.9%	10.1%	246.9%	-2.3%	1250.4%	37.1%	74.5%	130.4%	-25.3%	-25.9%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 18 periods

	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '26	JUN '26	SEP '26
ROE	1.0%	1.0%	1.5%	3.1%	7.1%	9.4%	8.4%	5.2%	3.6%	2.9%	5.0%	6.6%	10.7%	11.2%	10.1%	9.1%	8.7%	10.6%
ROCE	5.2%	2.1%	2.8%	5.0%	10.0%	12.7%	11.4%	7.4%	9.7%	8.7%	11.5%	13.1%	14.4%	14.9%	13.7%	11.1%	10.9%	13.6%
Net margin	0.3%	0.3%	0.6%	1.1%	2.2%	2.7%	2.3%	2.1%	0.8%	0.7%	1.1%	1.5%	2.4%	2.4%	2.2%	2.4%	2.2%	2.6%
EBITDA margin	4.0%	3.0%	2.6%	3.7%	4.9%	5.5%	5.3%	4.6%	3.4%	3.1%	3.4%	3.8%	4.0%	4.1%	4.0%	4.6%	4.3%	4.8%
Debt / equity	0.05	0.05	0.05	0.07	0.07	0.07	0.07	0.00	0.00	0.00	0.00	0.02	0.02	0.02	0.02	0.26	0.26	0.22
Interest coverage	6.28	2.82	4.44	8.47	19.79	26.79	26.51	23.57	70.40	59.06	72.52	80.99	89.58	85.22	67.76	8.84	7.45	7.74
Asset turnover	2.02	1.78	1.74	1.74	1.98	2.16	2.23	1.60	2.66	2.70	2.77	2.61	2.69	2.76	2.80	1.80	1.86	1.99

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 17 periods

	MAR '14‡	MAR '15‡	MAR '16‡	MAR '17‡	MAR '18‡	MAR '19‡	MAR '20‡	MAR '21‡	MAR '22‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	SEP '25	MAR '26	SEP '26
Share capital	101	26	26	26	26	26	26	26	26	26	26	26	26	26	26	26	26
Other equity / reserves	1,606	1,824	2,121	2,308	2,664	3,157	3,494	3,556	3,909	3,928	3,938	3,988	4,152	4,199	4,317	4,496	4,534
Total equity	1,707	1,851	2,147	2,334	2,690	3,184	3,520	3,582	3,935	3,954	3,965	4,014	4,178	4,226	4,343	4,522	4,561
Borrowings	1,016	699	471	396	258	81	169	250	0	0	0	0	77	105	637	1,175	990
Current liabilities	1,576	1,449	1,886	1,903	1,797	2,100	1,990	2,138	1,975	1,992	2,277	2,327	2,829	2,801	3,683	5,033	4,328
Non-current liabilities	613	583	330	239	233	98	37	128	35	35	33	27	41	37	136	132	581
Total assets	3,898	3,885	4,366	4,479	4,723	5,384	5,551	5,852	5,949	5,986	6,280	6,372	7,053	7,069	8,168	9,693	9,474
Property, plant & equipment	1,586	1,771	1,763	1,697	1,680	1,726	1,878	1,922	1,890	1,864	1,832	1,782	1,760	1,732	1,787	2,038	2,131
Capital work-in-progress	82	90	61	137	72	190	199	129	110	108	77	134	173	182	436	512	520
Investments	0	0	0	0	0	0	0	6	8	8	8	8	8	8	8	8	8
Inventories	544	559	688	751	808	1,032	1,094	1,137	936	1,166	1,428	1,464	1,369	1,569	1,798	2,150	1,988
Receivables	959	964	1,119	1,295	1,499	1,511	1,350	1,395	1,255	1,258	1,407	1,428	2,314	2,434	2,423	2,944	2,756
Cash & equivalents	143	13	3	13	15	19	29	410	863	713	330	573	129	49	169	460	489

Cash flow

annual · ₹ crore · line = free cash flow

showing latest 5 of 12 periods

	FY14‡	FY15‡	FY16‡	FY17‡	FY18‡	FY19‡	FY20‡	FY21‡	FY22	FY23	FY24	FY26
Cash from operations	290	841	539	544	563	643	508	620	9	-120	77	435
Cash from investing	-158	-329	-245	-234	-197	-430	-402	-152	-2	-121	-148	-409
Cash from financing	-172	-572	-297	-301	-364	-196	-95	-88	-3	-292	-130	92
Capex	212	407	244	236	202	438	404	201	2	156	192	512
Free cash flow	77	433	296	308	362	205	104	420	7	-276	-114	-77
Dividends paid	24	30	26	24	25	53	66	66	0	278	199	249

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹2,131 cr22%

CWIP

₹520 cr5%

Investments

₹8 cr0%

Inventories

₹1,988 cr21%

Receivables

₹2,756 cr29%

Cash & equivalents

₹489 cr5%

Other assets

₹1,582 cr17%

Peer comparison

largest in Fast Moving Consumer Goods · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Hindustan Unilever Ltd.	4,69,624	1,998.40	31.2	9.62	30.8%
ITC Ltd.	3,54,801	283.15	18.8	4.97	26.4%
Nestle India Ltd.	2,47,229	1,282.10	244.9	42.80	17.5%
Varun Beverages Ltd.	1,48,153	438.00	42.7	6.81	16.0%
Marico Ltd.	1,16,708	897.75	57.8	24.65	42.6%
Britannia Industries Ltd.	1,15,271	4,785.00	43.2	27.13	62.9%
Tata Consumer Products Ltd.	1,07,511	1,086.30	63.2	4.86	7.7%
United Spirits Ltd.	1,02,805	1,418.00	55.6	11.34	20.4%
Godrej Consumer Products Ltd.	87,083	851.00	41.2	6.90	16.8%
Dabur India Ltd.	67,474	380.35	33.3	5.87	17.6%
United Breweries Ltd.	31,456	1,189.70	64.9	6.90	10.6%

StoxGud checklist: Bearish setup · 3/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month+0.3%

6 months-16.7%

1 year-35.4%

3Y CAGR-9.2%

5Y CAGR-7.2%

10Y CAGR+2.9%

50-day avg₹1,222.25

200-day avg₹1,392.86

RSI (14)47

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FAQs

What is the share price of United Breweries Ltd.?

United Breweries Ltd. (UBL) closed at ₹1,189.70 on NSE on 06 Nov 2026.

What is the market cap of United Breweries Ltd.?

₹31,456 crore at the latest close.

What is the P/E ratio of United Breweries Ltd.?

64.9, on trailing-twelve-month earnings from its filings.

How fast is United Breweries Ltd. growing?

United Breweries Ltd.: revenue has compounded at 410.5% a year over three years; net profit at 383.7% a year. Latest-quarter revenue is up 23.7% year on year, profit up 190.9%.

How profitable is United Breweries Ltd.?

On a trailing-twelve-month basis return on equity is 10.6%, return on capital employed 13.6%, operating margin 4.8%, net margin 2.6%.

How much debt does United Breweries Ltd. have?

United Breweries Ltd. is lightly geared: debt to equity is 0.22 with borrowings of ₹990 cr against cash of ₹489 cr (balance sheet of 2026-09-30). Operating profit covers interest 7.7 times.

Financials parsed from United Breweries Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from SEP '19, annual from FY20, balance sheet from Mar '14. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.