United Breweries Ltd

United Breweries Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

United Breweries Ltd

₹ 2,019 -0.43%
21 Feb - close price
unitedbreweries.com BSE: 532478 NSE: UBL
About

United Breweries Limited (UBL) is engaged in the business of manufacture and sale of beer and non-alcoholic beverages. [1]

Key Points

Brand Portfolio
The Co markets its products under the flagship brands Kingfisher and Heineken. Some of the most popular brands in its portfolio include Kingfisher Premium, Kingfisher Ultra, Kingfisher Strong, Kingfisher Ultra Max, UB Export Lager, London Pilsner etc. [1]

Website BSE NSE
  • Market Cap ₹ 53,394 Cr.
  • Current Price ₹ 2,019
  • High / Low ₹ 2,300 / 1,646
  • Stock P/E 122
  • Book Value ₹ 160
  • Dividend Yield 0.50 %
  • ROCE 13.5 %
  • ROE 10.1 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 68.7%

Cons

  • Stock is trading at 12.6 times its book value
  • Company has a low return on equity of 9.35% over last 3 years.
  • Debtor days have increased from 83.7 to 104 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Alcoholic Beverages Industry: Breweries & Distilleries

Part of BSE Fast Moving Consumer Goods BSE 250 LargeMidCap Index Nifty LargeMidcap 250 Nifty 500 Nifty MNC

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024
1,581 1,707 2,437 1,680 1,611 1,764 2,273 1,888 1,823 2,132 2,473 2,115 1,998
1,407 1,447 2,172 1,460 1,534 1,711 2,050 1,703 1,677 1,990 2,188 1,888 1,857
Operating Profit 174 260 265 219 77 53 223 185 146 142 285 227 141
OPM % 11% 15% 11% 13% 5% 3% 10% 10% 8% 7% 12% 11% 7%
6 13 10 14 -20 12 10 12 24 26 7 11 -16
Interest 4 2 1 1 2 1 2 1 2 2 2 2 3
Depreciation 53 53 58 52 50 51 51 51 52 58 58 57 61
Profit before tax 123 218 217 180 5 13 180 145 116 109 233 178 61
Tax % 26% 25% 26% 26% 145% 26% 24% 26% 27% 26% 26% 26% 37%
91 163 162 134 -2 10 136 108 85 81 173 132 38
EPS in Rs 3.43 6.16 6.11 5.08 -0.08 0.37 5.15 4.07 3.21 3.06 6.55 5.00 1.45
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
3,903 4,236 4,692 4,839 4,734 5,629 6,472 6,505 4,241 5,832 7,492 8,115 8,718
3,426 3,639 4,071 4,109 4,093 4,727 5,335 5,630 3,861 5,137 6,877 7,420 7,923
Operating Profit 477 597 621 730 641 902 1,138 874 380 695 614 695 795
OPM % 12% 14% 13% 15% 14% 16% 18% 13% 9% 12% 8% 9% 9%
38 15 37 48 52 12 32 9 43 30 16 73 28
Interest 80 80 73 81 59 48 31 31 23 15 5 7 9
Depreciation 170 198 207 244 287 260 260 285 232 217 210 212 234
Profit before tax 265 334 378 453 347 607 878 567 168 493 415 549 581
Tax % 35% 32% 31% 34% 34% 35% 36% 25% 33% 26% 27% 25%
172 226 260 298 229 394 563 427 113 365 303 409 425
EPS in Rs 6.51 8.53 9.82 11.27 8.67 14.90 21.28 16.16 4.27 13.80 11.48 15.48 16.06
Dividend Payout % 11% 11% 10% 10% 13% 13% 12% 15% 12% 76% 65% 65%
Compounded Sales Growth
10 Years: 7%
5 Years: 5%
3 Years: 24%
TTM: 13%
Compounded Profit Growth
10 Years: 6%
5 Years: -6%
3 Years: 52%
TTM: 30%
Stock Price CAGR
10 Years: 8%
5 Years: 10%
3 Years: 10%
1 Year: 18%
Return on Equity
10 Years: 11%
5 Years: 9%
3 Years: 9%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 26 26 26 26 26 26 26 26 26 26 26 26 26
Reserves 1,410 1,605 1,823 2,119 2,306 2,662 3,155 3,492 3,553 3,906 3,935 4,148 4,195
1,375 1,306 836 806 594 312 211 252 262 10 16 102 127
927 958 1,195 1,410 1,547 1,719 1,985 1,774 2,003 1,999 2,294 2,767 2,712
Total Liabilities 3,739 3,896 3,881 4,362 4,474 4,719 5,379 5,544 5,845 5,941 6,271 7,043 7,059
1,594 1,607 1,811 1,797 1,726 1,705 1,752 1,901 1,942 1,905 1,843 1,768 1,738
CWIP 114 82 90 61 137 72 190 199 128 110 77 173 182
Investments 25 25 25 25 26 26 26 26 14 16 16 16 16
2,005 2,181 1,954 2,478 2,586 2,916 3,411 3,418 3,761 3,910 4,335 5,087 5,124
Total Assets 3,739 3,896 3,881 4,362 4,474 4,719 5,379 5,544 5,845 5,941 6,271 7,043 7,059

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
152 290 839 539 544 562 644 507 619 899 -121 77
-428 -157 -327 -245 -234 -196 -430 -402 -151 -160 -120 -148
211 -173 -572 -297 -301 -363 -198 -95 -88 -286 -292 -130
Net Cash Flow -64 -40 -60 -3 9 3 17 10 380 453 -533 -201

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 76 83 75 84 100 97 85 76 120 79 69 104
Inventory Days 297 293 276 322 326 265 323 310 555 300 318 296
Days Payable 145 113 170 196 200 172 185 154 308 204 160 206
Cash Conversion Cycle 228 262 182 211 226 190 223 231 368 174 227 195
Working Capital Days 73 66 38 37 50 57 49 59 74 31 50 65
ROCE % 13% 14% 16% 19% 14% 22% 28% 17% 5% 13% 11% 13%

Shareholding Pattern

Numbers in percentages

Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024
72.71% 72.71% 72.72% 72.72% 72.72% 72.72% 71.00% 70.84% 70.84% 70.84% 70.84% 70.84%
8.70% 7.69% 6.93% 6.94% 6.43% 6.31% 6.70% 6.71% 6.63% 6.43% 6.26% 6.43%
11.92% 13.01% 13.87% 13.91% 14.41% 14.65% 15.97% 16.06% 16.12% 16.38% 16.62% 16.52%
1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16%
5.51% 5.43% 5.32% 5.28% 5.27% 5.16% 5.19% 5.22% 5.25% 5.19% 5.13% 5.06%
No. of Shareholders 66,55964,67563,57661,76063,47569,38467,95465,41866,91467,86866,79468,483

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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