United Breweries Ltd

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

United Breweries Ltd

₹ 1,828 -1.39%
21 Nov - 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 ₹ 48,331 Cr.
  • Current Price ₹ 1,828
  • High / Low ₹ 2,205 / 1,578
  • Stock P/E 102
  • Book Value ₹ 160
  • Dividend Yield 0.55 %
  • 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 68.6%

Cons

  • Stock is trading at 11.4 times its book value
  • Company has a low return on equity of 9.35% over last 3 years.
  • Debtor days have increased from 83.6 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 Nifty LargeMidcap 250 BSE Allcap BSE 150 MidCap Index Nifty 500 BSE MidCap

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
1,427 1,583 1,709 2,439 1,682 1,613 1,766 2,275 1,890 1,824 2,133 2,475 2,117
1,262 1,409 1,448 2,173 1,463 1,536 1,712 2,052 1,706 1,678 1,991 2,190 1,890
Operating Profit 165 174 261 266 219 77 54 223 184 146 143 285 227
OPM % 12% 11% 15% 11% 13% 5% 3% 10% 10% 8% 7% 12% 11%
4 6 13 10 14 -20 12 10 12 25 26 7 10
Interest 5 4 2 1 1 2 1 2 1 2 2 2 2
Depreciation 56 53 53 58 52 50 51 51 51 52 58 58 57
Profit before tax 109 124 219 218 181 5 13 180 144 117 110 233 178
Tax % 27% 26% 25% 26% 26% 135% 27% 24% 26% 27% 26% 26% 26%
80 91 164 162 134 -2 10 136 107 86 82 174 132
EPS in Rs 3.04 3.43 6.18 6.13 5.07 -0.07 0.37 5.15 4.06 3.23 3.07 6.56 5.00
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
3,899 4,230 4,688 4,833 4,729 5,619 6,475 6,509 4,243 5,838 7,500 8,123 8,550
3,421 3,632 4,066 4,136 4,087 4,716 5,337 5,633 3,862 5,142 6,884 7,426 7,748
Operating Profit 478 597 622 697 642 903 1,138 876 381 697 616 696 801
OPM % 12% 14% 13% 14% 14% 16% 18% 13% 9% 12% 8% 9% 9%
38 15 37 82 52 13 32 9 43 30 16 74 69
Interest 80 80 73 81 59 48 31 31 23 15 5 7 8
Depreciation 170 198 208 244 287 260 260 285 232 217 211 212 224
Profit before tax 266 335 379 455 348 608 879 569 169 494 417 551 638
Tax % 35% 32% 31% 34% 34% 35% 36% 25% 33% 26% 27% 25%
173 226 260 299 230 395 563 428 114 366 305 411 473
EPS in Rs 6.51 8.55 9.83 11.28 8.68 14.91 21.29 16.18 4.28 13.82 11.50 15.51 17.86
Dividend Payout % 11% 11% 10% 10% 13% 13% 12% 15% 12% 76% 65% 64%
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: 66%
Stock Price CAGR
10 Years: 9%
5 Years: 8%
3 Years: 5%
1 Year: 14%
Return on Equity
10 Years: 11%
5 Years: 9%
3 Years: 9%
Last Year: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 1,411 1,606 1,824 2,121 2,308 2,664 3,157 3,494 3,556 3,909 3,938 4,152 4,199
1,375 1,306 836 806 594 312 211 252 262 10 16 102 127
928 959 1,198 1,413 1,550 1,721 1,989 1,778 2,008 2,004 2,300 2,773 2,717
Total Liabilities 3,740 3,898 3,885 4,366 4,479 4,723 5,384 5,551 5,852 5,949 6,280 7,053 7,069
1,619 1,632 1,836 1,822 1,750 1,730 1,777 1,926 1,949 1,913 1,851 1,776 1,746
CWIP 114 82 90 61 137 72 190 199 129 110 77 173 182
Investments 0 0 0 0 0 0 0 0 6 8 8 8 8
2,007 2,183 1,959 2,483 2,591 2,921 3,417 3,425 3,768 3,918 4,344 5,097 5,133
Total Assets 3,740 3,898 3,885 4,366 4,479 4,723 5,384 5,551 5,852 5,949 6,280 7,053 7,069

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
152 290 841 539 544 563 643 508 620 900 -120 70
-428 -158 -329 -245 -234 -197 -430 -402 -152 -160 -121 -148
211 -172 -572 -297 -301 -364 -196 -95 -88 -287 -292 -122
Net Cash Flow -64 -40 -60 -3 9 3 17 10 380 453 -533 -201

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 78 68 104
Inventory Days 304 301 283 330 333 271 326 312 561 302 321 298
Days Payable 148 116 173 200 204 175 186 156 311 206 161 207
Cash Conversion Cycle 232 268 184 214 229 193 225 232 370 174 228 196
Working Capital Days 73 67 38 37 50 57 49 59 74 31 50 65
ROCE % 13% 14% 16% 18% 14% 22% 28% 17% 5% 13% 11% 13%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
72.71% 72.71% 72.71% 72.72% 72.72% 72.72% 72.72% 71.00% 70.84% 70.84% 70.84% 70.84%
9.61% 8.70% 7.69% 6.93% 6.94% 6.43% 6.31% 6.70% 6.71% 6.63% 6.43% 6.26%
10.90% 11.92% 13.01% 13.87% 13.91% 14.41% 14.65% 15.97% 16.06% 16.12% 16.38% 16.62%
1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16% 1.16%
5.62% 5.51% 5.43% 5.32% 5.28% 5.27% 5.16% 5.19% 5.22% 5.25% 5.19% 5.13%
No. of Shareholders 66,55666,55964,67563,57661,76063,47569,38467,95465,41866,91467,86866,794

* 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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