United Breweries Limited

Fast Moving Consumer Goods · Beverages

NSE: UBL BSE: 532478

₹1158.10

Sept. 30, 2026 · NSE · nse_bhavcopy

Peers in Beverages

The largest companies in the same industry by market cap. This company ranks #4 of 32. PE, ROE, 1Y return and scores come from the daily/weekly precomputed snapshot.

Company	Market cap (₹ Cr)	PE (TTM)	ROE	1Y return	Div. yield	Quality	Valuation	Momentum
Varun Beverages Limited	146,115	49.5	13.2%	-2.5%	—	87	3	68
United Spirits Limited	98,483	50.2	20.5%	0.5%	1.26%	80	24	28
Radico Khaitan Limited	58,474	84.1	16.8%	49.8%	0.21%	73	31	31
United Breweries Limited (this stock)	30,621	77.3	9.1%	-35.6%	0.86%	55	0	10
Allied Blenders and Distillers Limited	20,108	73.0	13.1%	35.6%	0.75%	49	0	91
Tilaknagar Industries Limited	13,380	67.7	0.7%	19.5%	—	35	30	49
Piccadily Agro Industries Limited	5,839	40.5	12.9%	-12.3%	0.17%	64	26	63
Globus Spirits Limited	2,287	21.9	6.4%	-26.1%	0.83%	42	65	9

Valuation multiples

Current only. Market cap is the whole company's; sales/EBITDA are trailing-twelve-month standalone; debt and cash come from the latest filed standalone balance sheet (March 31, 2026). EBITDA = PBT + interest + depreciation.

Enterprise value

₹31,336 Cr

EV / EBITDA

34.2x

EV / Sales

1.74x

Market cap / Sales

1.70x

Earnings yield

1.29%

Quarterly Financials

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Standalone Consolidated

↑ Positive

Quarterly Revenue

Jun 2026 quarterly revenue is Rs 5,968 Cr, up 10.7% YoY.

↓ Negative

Quarterly Net Profit

Jun 2026 quarterly net profit is Rs 166 Cr, down 9.4% YoY.

Period end	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)	Basic EPS
June 30, 2026	5,917	225	166	₹6.2900
March 31, 2026	4,406	116	102	₹3.8500
Dec. 31, 2025	3,936	132	81	₹3.0600
Sept. 30, 2025	3,736	67	47	₹1.7800
June 30, 2025	5,379	247	184	₹6.9500
March 31, 2025	4,426	132	97	₹3.6900
Dec. 31, 2024	4,425	61	38	₹1.4500
Sept. 30, 2024	4,742	178	132	₹5.0000
June 30, 2024	5,809	233	173	₹6.5500
March 31, 2024	4,787	109	81	₹3.0600
Dec. 31, 2023	4,153	116	85	₹3.2100
Sept. 30, 2023	4,191	145	108	₹4.0700
June 30, 2023	5,241	180	136	₹5.1500

Quarterly income statement (standalone, ₹ Cr)

Indicator	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23
Total income (before exceptional items)	5,968	4,414	3,946	3,751	5,390	4,433	4,435	4,752	5,816	4,813	4,177	4,203	5,252
Operating revenue	5,917	4,406	3,936	3,736	5,379	4,426	4,425	4,742	5,809	4,787	4,153	4,191	5,241
Other income	51	8	11	15	11	8	10	11	7	26	24	12	10
Operating expenses	5,635	4,267	3,710	3,605	5,068	4,239	4,284	4,515	5,524	4,645	4,008	4,006	5,019
Operating profit	283	139	225	130	311	186	141	227	285	142	146	185	223
Operating profit margin	4.8%	3.2%	5.7%	3.5%	5.8%	4.2%	3.2%	4.8%	4.9%	3.0%	3.5%	4.4%	4.3%
Depreciation	86	76	69	64	63	57	61	57	58	58	52	51	51
Interest	23	29	17	15	11	6	3	2	2	2	2	1	2
Exceptional items, gain / (loss)	—	74	-19	—	—	—	-26	—	—	—	—	—	—
Profit before tax	225	116	132	67	247	132	61	178	233	109	116	145	180
Tax	58	14	51	20	64	34	23	46	59	28	31	37	44
Net profit	166	102	81	47	184	97	38	132	173	81	85	108	136
EPS	6.29	3.85	3.06	1.78	6.95	3.69	1.45	5.00	6.55	3.06	3.21	4.07	5.15
Net profit (TTM)	396	413	409	366	452	441	425	471	447	409	338	251	278
EPS (TTM)	14.98	15.64	15.48	13.87	17.09	16.69	16.06	17.82	16.89	15.49	12.80	9.51	10.52

Total income excludes exceptional items, which are shown on their own row. Trendlyne and Screener fold exceptional items into revenue or other income, so their totals differ from this table by exactly that row.

Annual Financials

Year ended	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)
March 31, 2026	17,456	562	413
March 31, 2025	19,401	603	441
March 31, 2024	18,372	549	409
March 31, 2023	16,643	415	303

Annual income statement (standalone, ₹ Cr; CAGR to the latest year)

Indicator	CAGR 3Y	CAGR 5Y	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Total income (before exceptional items)	1.6%	11.3%	17,501^†	19,436^†	18,445^†	16,692^†	13,147^†	10,234^†	14,656^†	14,169^†	12,440^†	8,605^†
Operating revenue	1.6%	11.4%	17,456	19,401	18,372	16,643	13,117^†	10,183^†	14,646^†	14,137^†	12,427^†	8,552^†
Other income	—	—	45^†	36^†	73^†	49^†	30^†	50^†	9^†	32^†	13^†	52^†
Operating expenses	—	—	16,651^†	18,562^†	17,677^†	16,029^†	12,422^†	9,804^†	13,772^†	12,999^†	11,526^†	7,868^†
Operating profit	9.4%	16.2%	805^†	839^†	695^†	614^†	695^†	380^†	874^†	1,138^†	901^†	684^†
Operating profit margin	—	—	4.6%^†	4.3%^†	3.8%^†	3.7%^†	5.3%^†	3.7%^†	6.0%^†	8.0%^†	7.3%^†	8.0%^†
Depreciation	—	—	272^†	233^†	212^†	210^†	217^†	232^†	285^†	260^†	260^†	287^†
Interest	—	—	72^†	13^†	7^†	5^†	15^†	23^†	31^†	31^†	48^†	59^†
Exceptional items, gain / (loss)	—	—	55^†	-26^†	0^†	-33^†	0^†	-7^†	0^†	0^†	0^†	0^†
Profit before tax	10.6%	27.3%	562	603	549	415	493^†	168^†	567^†	878^†	607^†	347^†
Tax	—	—	149^†	162^†	140^†	112^†	128^†	55^†	140^†	316^†	213^†	118^†
Net profit	10.8%	29.6%	413	441	409	303	365^†	113^†	427^†	563^†	394^†	229^†
EPS	10.9%	29.6%	15.64^†	16.69^†	15.49^†	11.48^†	13.81^†	4.27^†	16.16^†	—	—	—

^† Derived: the sum of that fiscal year's four quarterly filings (a real annual filing is used wherever one exists). Checked against filed annual figures, the sum lands within 0.5% for about 94% of company-years.

Annual ratios (standalone)

Ratio	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Operating margin	4.6%^†	4.3%^†	3.8%^†	3.7%^†	5.3%^†	3.7%^†	6.0%^†	8.0%^†	7.3%^†	8.0%^†
EBIT margin	3.6%^†	3.2%^†	3.0%^†	2.5%^†	3.9%^†	1.9%^†	4.1%^†	6.4%^†	5.3%^†	4.7%^†
PBT margin	3.2%	3.1%	3.0%	2.5%	3.8%^†	1.6%^†	3.9%^†	6.2%^†	4.9%^†	4.1%^†
Net margin	2.4%	2.3%	2.2%	1.8%	2.8%^†	1.1%^†	2.9%^†	4.0%^†	3.2%^†	2.7%^†
Interest coverage	8.83x^†	47.95x^†	80.73x^†	90.54x^†	34.35x^†	8.41x^†	19.23x^†	29.16x^†	13.74x^†	6.92x^†
Dividend payout	63.9%^†	59.9%^†	48.4%^†	91.5%^†	3.6%^†	58.5%^†	15.5%^†	—	—	—
Earnings retention	36.1%^†	40.1%^†	51.6%^†	8.5%^†	96.4%^†	41.5%^†	84.5%^†	—	—	—
Current ratio	1.24x	1.50x	—	—	—	—	—	—	—	—
Quick ratio	0.81x	1.07x	—	—	—	—	—	—	—	—
Debt to equity	0.26x	0.14x	—	—	—	—	—	—	—	—
Return on equity	9.1%	10.1%	—	—	—	—	—	—	—	—
Return on assets	4.3%	5.4%	—	—	—	—	—	—	—	—
Return on capital employed	13.6%^†	13.9%^†	—	—	—	—	—	—	—	—
Asset turnover	1.80x	2.36x	—	—	—	—	—	—	—	—

Margins and asset turnover use operating revenue (interest earned for banks, excluding other income), not total income. Liquidity, leverage and return ratios need a filed standalone balance sheet, which exists only for recent years; returns use year-end equity/assets. Dividend payout is shown only for companies with a dividend record. † = built from a summed fiscal year.

Revenue Mix

Data unavailable.

Cash Flow

Year ended	Operating (₹ Cr)	Investing (₹ Cr)	Financing (₹ Cr)	Capex (₹ Cr)	Free Cash Flow (₹ Cr)
March 31, 2026	436	-409	92	511	-75
March 31, 2025	234	-238	217	255	-21
March 31, 2024	77	-148	-130	191	-114
March 31, 2023	-121	-120	-292	156	-277
March 31, 2022	9	-2	-3	2	7

Balance Sheet (standalone)

Year ended	Total Assets (₹ Cr)	Total Equity (₹ Cr)	Reserves (₹ Cr)	Borrowings, Current (₹ Cr)	Borrowings, Non-current (₹ Cr)	Current Assets (₹ Cr)	Current Liabilities (₹ Cr)	Cash & Equivalents (₹ Cr)	Net Block (₹ Cr)	Inventory (₹ Cr)
March 31, 2026	9,681	4,517	4,491	1,175	0	6,220	5,032	460	2,036	2,148
March 31, 2025	8,212	4,359	4,333	584	36	5,671	3,782	341	1,733	1,615
March 31, 2024	—	—	—	—	—	—	—	—	—	—
March 31, 2023	—	—	—	—	—	—	—	—	—	—
March 31, 2022	—	—	—	—	—	—	—	—	—	—

Financial charts

Trend charts drawn from the standalone income-statement and ratio tables above (oldest year on the left); a gap means that period has no figure. Annual years marked † in the tables are derived from four quarters.