United Breweries Limited (IN:UBL)
:UBL
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United Breweries Limited
(UBL)
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Rating:65Neutral
Price Target:
₹1,590.00
▼(-0.39% Downside)
Action:ReiteratedDate:10/31/25
United Breweries Limited's strong financial performance, characterized by revenue and profit growth and a solid balance sheet, is the primary driver of its stock score. However, technical indicators suggest a bearish trend, and the high P/E ratio indicates potential overvaluation, which negatively impacts the overall score.
Positive Factors
Revenue & Margin Expansion
Sustained revenue growth and improving gross and net margins from 2022–2025 indicate durable demand, better pricing or mix, and improved cost control. This structural improvement supports stronger cash generation, reinvestment in brand/channel presence and resilience to cyclical shocks.
Negative Factors
Cash Flow Volatility
Inconsistent operating cash flow and a notable 2023 dip limit predictable internal funding for capex, dividends and growth initiatives. Volatile cash generation raises reliance on external financing in downturns and complicates capital allocation despite recent FCF recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Margin Expansion
Sustained revenue growth and improving gross and net margins from 2022–2025 indicate durable demand, better pricing or mix, and improved cost control. This structural improvement supports stronger cash generation, reinvestment in brand/channel presence and resilience to cyclical shocks.
Read all positive factors
United Breweries Limited (UBL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹389.51B
Dividend Yield0.62%
Average Volume (3M)11.54K
Price to Earnings (P/E)132.5
Beta (1Y)0.48
Revenue Growth6.73%
EPS Growth-3.85%
CountryIN
Employees2,875
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Alcoholic
Share Statistics
EPS (TTM)3.80
Shares Outstanding264,405,150
10 Day Avg. Volume5,836
30 Day Avg. Volume11,538
Financial Highlights & Ratios
PEG Ratio15.10
Price to Book (P/B)11.82
Price to Sales (P/S)6.00
P/FCF Ratio-2.22K
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹1,415.00Price Target Upside-11.35% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering1
EPS Forecast (FY)25.05
Revenue Forecast (FY)₹106.14B
United Breweries Limited Business Overview & Revenue Model
Company Description
United Breweries Limited manufactures, purchases, and sells beer and non-alcoholic beverages in India and internationally. It offers its products under the Kingfisher Premium, Kingfisher Strong, Kingfisher Ultra, Kingfisher Ultra Max, Kingfisher U...
How the Company Makes Money
UBL primarily makes money by selling beer under its brand portfolio to distribution partners and customers, generating revenue from the sale of packaged beer (e.g., bottles and cans) across multiple price segments. Its key revenue stream is the do...
United Breweries Limited Financial Statement Overview
Summary
Income Statement
79
Positive
Balance Sheet
75
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 89.18B | 85.93B | 78.76B | 73.31B | 56.05B | 40.59B |
| Gross Profit | 31.86B | 33.34B | 30.42B | 29.01B | 25.66B | 19.49B |
| EBITDA | 7.86B | 8.50B | 7.70B | 6.32B | 7.26B | 4.24B |
| Net Income | 3.66B | 4.42B | 4.10B | 3.04B | 3.65B | 1.13B |
Balance Sheet | ||||||
| Total Assets | 81.68B | 82.23B | 70.53B | 62.80B | 59.49B | 58.52B |
| Cash, Cash Equivalents and Short-Term Investments | 2.94B | 4.43B | 1.42B | 3.37B | 8.71B | 4.18B |
| Total Debt | 7.77B | 6.20B | 1.02B | 156.20M | 97.40M | 2.62B |
| Total Liabilities | 38.19B | 38.53B | 28.70B | 23.11B | 20.10B | 22.66B |
| Stockholders Equity | 43.43B | 43.64B | 41.78B | 39.65B | 39.35B | 35.82B |
Cash Flow | ||||||
| Free Cash Flow | 231.70M | -232.50M | -1.22B | -2.76B | 7.26B | 4.20B |
| Operating Cash Flow | 4.53B | 2.35B | 695.00M | -1.20B | 9.00B | 6.20B |
| Investing Cash Flow | -4.21B | -2.39B | -1.48B | -1.21B | -1.60B | -1.52B |
| Financing Cash Flow | -2.05B | 2.17B | -1.22B | -2.92B | -2.87B | -883.90M |
United Breweries Limited Technical Analysis
Negative
1596.20
Price Trends
1574.30
Negative
1587.76
Negative
1726.27
Negative
Market Momentum
-36.25
Positive
43.69
Neutral
40.80
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 1596.2 is above the 20-day moving average (MA) of 1527.12, above the 50-day MA of 1574.30, and below the 200-day MA of 1726.27, indicating a bearish trend. The MACD of -36.25 indicates Positive momentum. The RSI at 43.69 is Neutral, neither overbought nor oversold. The STOCH value of 40.80 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
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹17.97B | 121.41 | ― | ― | -6.60% | -6.25% | |
66 Neutral | ₹114.17B | -24.49 | ― | 0.21% | 30.79% | -30.63% | |
65 Neutral | ₹389.51B | 132.49 | ― | 0.62% | 6.73% | -3.85% | |
64 Neutral | ₹17.07B | 16.60 | ― | 0.21% | -4.86% | 20.35% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
60 Neutral | ₹22.26B | 15.28 | ― | 0.72% | 17.48% | 21.54% | |
57 Neutral | ₹14.99B | 50.36 | ― | 1.67% | -5.09% | -57.46% |
* Consumer Defensive Sector Average
IN:UBL
United Breweries Limited
1,479.50
-677.44
-31.41%
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Associated Alcohols & Breweries Ltd.
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-20.59%
IN:GMBREW
G.M. Breweries Ltd.
969.90
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44.69%
IN:SDBL
Som Distilleries & Breweries Ltd.
89.55
-46.75
-34.30%
IN:SULA
Sula Vineyards Ltd.
178.20
-105.71
-37.23%
IN:TI
Tilaknagar Industries Limited
460.00
162.64
54.69%
United Breweries Limited Corporate Events
United Breweries Announces Resignation of Chief Human Resources Officer
Apr 2, 2026
United Breweries Limited has announced a senior management change, with Chief Human Resources Officer and Director – People, Kavita Singh, resigning from her position. Her resignation will take effect from the close of business on April 30, ...
United Breweries expands Kingfisher Smooth strong beer into Maharashtra
Mar 31, 2026
United Breweries Limited has launched Kingfisher Smooth Strong Premium Beer in Maharashtra, expanding its presence in the mainstream strong beer segment ahead of the peak consumption season. Initially available in Mumbai and Pune from March 31, 20...
United Breweries Publishes Notice on Lost Share Certificate and Issues Regulatory Update
Mar 27, 2026
United Breweries Limited has notified the stock exchanges that it received a request from a shareholder, via its registrar and transfer agent, for issuance of a duplicate share certificate to replace an original share certificate reported as lost ...
United Breweries Secures Environmental Nod for Uttar Pradesh Brewery
Mar 18, 2026
United Breweries Limited has received environmental clearance from the State Environment Impact Assessment Authority of Uttar Pradesh for its proposed greenfield brewery in Unnao. The project, designed for a capacity of 1.3 million hectolitres per...
United Breweries, Soufflet Malt to Build Major Sustainable Malthouse in Rajasthan
Feb 20, 2026
Soufflet Malt, the world’s leading maltster, will build a state-of-the-art malthouse in South Rajasthan, India, in partnership with United Breweries Limited to supply high-quality malt for beers including Kingfisher and Heineken®. The f...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.