United Breweries Limited (UBL) AI Stock Analysis

• Market Cap: ₹499.82B
• Dividend Yield: 0.52%
• Average Volume (3M): 3.72K
• Price to Earnings (P/E): 110.6
• Beta (1Y): 0.61
• Revenue Growth: 11.79%
• EPS Growth: 1.04%
• Country: IN
• Employees: 2,875
• Sector: Consumer Defensive
• Sector Strength: 58
• Industry: Beverages - Alcoholic
• EPS (TTM): 6.90
• Shares Outstanding: 264,405,150
• 10 Day Avg. Volume: 2,234
• 30 Day Avg. Volume: 3,721
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹2,064.33
• Price Target Upside: 10.17% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 3

• Rating: 58 Neutral
• Price Target: ₹2,078.00 ▲(10.90% Upside)

United Breweries Limited's stock score is primarily influenced by its strong financial performance, characterized by revenue growth and profitability improvements. However, the technical analysis indicates a lack of clear momentum, and the high P/E ratio suggests potential overvaluation, which weighs down the overall score.

United Breweries Limited Business Overview & Revenue Model

Company Description

United Breweries Limited (UBL) is a prominent Indian brewing company, best known for its flagship brand Kingfisher, which is a market leader in the Indian beer industry. UBL operates in the alcoholic beverages sector, focusing primarily on the production and distribution of beer. The company offers a diverse portfolio of beer brands that cater to a wide range of consumer preferences, both domestically and internationally.

How the Company Makes Money

United Breweries Limited primarily generates revenue through the production and sale of its beer products. The company's key revenue streams include domestic sales, which constitute a significant portion of its income, and international exports, which help in expanding its brand presence globally. UBL leverages its extensive distribution network across India, comprising wholesalers, retailers, and on-premise establishments like bars and restaurants, to maximize its market reach. Additionally, the company benefits from strategic partnerships and joint ventures with global brewing companies, enhancing its product offerings and market penetration. Seasonal demand fluctuations, marketing campaigns, and brand loyalty programs also play essential roles in driving sales and revenue growth.

United Breweries Limited Financial Statement Overview

Summary

United Breweries Limited demonstrates strong financial performance with substantial revenue growth and improved profit margins. The balance sheet is robust, with low leverage and high equity. However, cash flow has been inconsistent, although recent improvements are promising.

Income Statement

United Breweries Limited has shown a strong revenue growth trajectory, with a notable increase from INR 56,049 crore in 2022 to INR 89,150 crore in 2025. The gross profit margin has improved significantly, indicating better cost management or pricing strategies. The net profit margin also shows an upward trend, reflecting enhanced profitability. However, the EBIT margin has been relatively stable, suggesting potential room for operational efficiency improvements.

Balance Sheet

The company's balance sheet highlights a solid equity base with stockholders' equity consistently growing, reaching INR 43,639 crore in 2025. The debt-to-equity ratio remains low, indicating conservative leverage practices. The equity ratio is strong, underscoring financial stability. However, the return on equity has slightly fluctuated, which might suggest varying net income generation relative to equity size.

Cash Flow

Cash flow analysis reveals a mixed picture. Operating cash flow displays inconsistency, with a dip in 2023 affecting free cash flow negatively. Despite this, the company has managed to maintain reasonable free cash flow levels over the years. While the operating cash flow to net income ratio has been volatile, the recent increase in free cash flow in 2025 is a positive sign.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	89.15B	89.15B	81.23B	75.00B	58.38B	42.43B
Gross Profit	33.73B	38.47B	21.32B	32.35B	18.64B	19.49B
EBITDA	8.37B	8.51B	7.70B	6.33B	7.26B	4.24B
Net Income	4.42B	4.42B	4.10B	3.04B	3.65B	1.13B
Balance Sheet
Total Assets	82.23B	82.23B	70.53B	62.80B	59.49B	58.52B
Cash, Cash Equivalents and Short-Term Investments	4.43B	4.47B	1.42B	3.37B	8.71B	4.18B
Total Debt	6.20B	6.20B	1.02B	156.20M	97.40M	2.62B
Total Liabilities	38.53B	38.53B	28.70B	23.11B	20.10B	22.66B
Stockholders Equity	43.64B	43.64B	41.78B	39.65B	39.35B	35.82B
Cash Flow
Free Cash Flow	0.00	-232.50M	-1.22B	-2.76B	7.26B	4.20B
Operating Cash Flow	0.00	2.35B	695.00M	-1.20B	9.00B	6.20B
Investing Cash Flow	0.00	-2.39B	-1.48B	-1.21B	-1.60B	-1.52B
Financing Cash Flow	0.00	2.17B	-1.22B	-2.92B	-2.87B	-883.90M

United Breweries Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1873.70
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:UBL, the sentiment is Negative. The current price of 1873.7 is below the 20-day moving average (MA) of 1932.23, below the 50-day MA of 1955.63, and below the 200-day MA of 1992.33, indicating a bearish trend. The MACD of -20.56 indicates Positive momentum. The RSI at 33.13 is Neutral, neither overbought nor oversold. The STOCH value of 36.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:UBL.

United Breweries Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SDBL	70 Outperform	₹27.67B	27.23		―	3.51%	10.45%
ASALCBR	66 Neutral	₹18.90B	21.63		0.19%	27.55%	56.11%
SULA	64 Neutral	₹21.89B	38.06		1.40%	-2.12%	-39.06%
TI	64 Neutral	₹102.14B	36.62		0.10%	4.44%	81.62%
Sector *	63 Neutral	$20.91B	14.58	-4.08%	3.07%	2.70%	-8.71%
UBL	58 Neutral	₹499.82B	110.58		0.52%	11.79%	1.04%

United Breweries Limited Corporate Events

United Breweries Limited Announces Virtual AGM and Annual Report Release

United Breweries Limited has announced its 26th Annual General Meeting (AGM) scheduled for August 7, 2025, to be held virtually in compliance with regulatory guidelines. The company has released its Annual Report for the financial year 2024-2025 and outlined resolutions to be discussed, including the adoption of financial statements, dividend declaration, director reappointment, and auditor appointments. The AGM will also facilitate e-voting for shareholders, ensuring active participation in the decision-making process.

United Breweries Limited Announces Virtual AGM and Dividend Declaration

United Breweries Limited has announced that its 26th Annual General Meeting (AGM) will be held on August 07, 2025, through video conferencing in compliance with regulatory requirements. The company has also declared a dividend of ₹10 per equity share for the financial year ending March 31, 2025, subject to approval at the AGM, with the record date set for July 31, 2025. This move reflects the company’s commitment to maintaining shareholder value and adapting to modern communication methods for corporate governance.