- Next results date: the board meets on 27 Oct 2026 to consider: financial results.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹30,211 Cr228th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 28 Sep 2026
- 76.4
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹55 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 88.8
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 28 Sep 2026
- 6.7
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.88%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 28 Sep 2026
- 8.9%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹55 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 7.7%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 28 Sep 2026
- 8.5%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 28 Sep 2026
- 0.26
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 1,20,20151.0% delivered
Results
Consolidated; ₹ crore, the charts by years to March, the table by quarter. The year to Mar 2022 is not shown: its results were filed at the wrong scale, a power of ten off the company's own year-to-date figures.Quarterly results
Quarter to Jun 2026, against the quarter beforeFiled 4 Aug
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹5,919 Crup 34.28%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹166 Crup 63.23%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax.
- 2.8%
Revenue by year
Peak revenue ₹19,409 Cr, year to Mar 2025
Net profit by year, a loss in red
| ₹ crore | Sep 2024Filed 25 Oct | Dec 2024Filed 14 Feb | Mar 2025Filed 10 Jun | Jun 2025Filed 22 Jul | Sep 2025Filed 30 Oct | Dec 2025Filed 4 May | Mar 2026Filed 28 Sep | Jun 2026Filed 4 Aug |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,744what Revenue, Sep 2024, includes. This period's revenue includes excise duty of ₹2,627 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,427what Revenue, Dec 2024, includes. This period's revenue includes excise duty of ₹2,426 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,427what Revenue, Mar 2025, includes. This period's revenue includes excise duty of ₹2,104 crore, a tax on the goods the company makes that it collects and pays to the government. | 5,381what Revenue, Jun 2025, includes. This period's revenue includes excise duty of ₹2,516 crore, a tax on the goods the company makes that it collects and pays to the government. | 3,737what Revenue, Sep 2025, includes. This period's revenue includes excise duty of ₹1,684 crore, a tax on the goods the company makes that it collects and pays to the government. | 3,937what Revenue, Dec 2025, includes. This period's revenue includes excise duty of ₹1,864 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,408what Revenue, Mar 2026, includes. This period's revenue includes excise duty of ₹2,158 crore, a tax on the goods the company makes that it collects and pays to the government. | 5,919what Revenue, Jun 2026, includes. This period's revenue includes excise duty of ₹2,853 crore, a tax on the goods the company makes that it collects and pays to the government. |
| Net profit | 132 | 39 | 98 | 184 | 46 | 81 | 102 | 166 |
| Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. | 2.8% | 0.9% | 2.2% | 3.4% | 1.2% | 2.1% | 2.3% | 2.8% |
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Business segments
In the year to Mar 2026 the company reports one business segment, Manufacture and Supply of Beer, which carries all its revenue.
Valuation
Today, against the company's own history.PE ratio and valuation history
Price to earningsPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit.
At or below today's level on 33% of 2,273 trading days over the last 10 years.
LowestHighest
Its median105.3Industry median30.1
Price to bookPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet.
At or below today's level on 0.2% of 1,948 trading days since Nov 2018.
LowestHighest
Its median10.8Industry median1.8
EV to EBITDAEnterprise value to EBITDA. Market cap plus borrowings less cash and bank balances, divided by operating profit before depreciation (revenue less operating expenses, without other income and one-off items) over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly): what the whole business costs against the profit its operations make. Lease liabilities are not counted: the results filings do not state them.39.6
At or below today's level on 25% of 1,760 trading days since Nov 2018.
LowestHighest
Its median59.5Industry median28.6
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 100% of 2,433 trading days over the last 10 years.
LowestHighest
Its median0.23%Industry median0.67%
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −22.3% | −6.5% | −17.6% | 0.6% |
| 3 years | +3.2% | +10.8% | −7.3% | 0.6% |
| 5 years | +5.0% | +29.6% | −19.4% | 0.6% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1, 3 and 5 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the years to Mar 2023 and Mar 2026.
Mutual funds holding it
105 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 66 of the 76 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.Mutual fund holdings
- AddedAdded. Funds that held more shares than at the end of the month before.
- 40
- CutCut. Funds that held fewer shares than at the end of the month before.
- 36
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 28
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end.
- 2
| Fund | |||
|---|---|---|---|
 SBI Large & Midcap FundSBI Mutual Fund | 57,20,000 | 1.64% | ₹662.4 Cr |
| SBI Aggressive Hybrid FundSBI Mutual Fund | 50,00,000 | 0.67% | ₹579.1 Cr |
 ICICI Prudential Multi Asset Allocation FundICICI Prudential Mutual Fund | 43,23,514 | 0.60% | ₹500.7 Cr |
 Nippon India Multi Cap FundNippon India Mutual Fund | 29,95,350 | 0.65% | ₹346.9 Cr |
| SBI Multicap FundSBI Mutual Fund | 29,00,000 | 1.43% | ₹335.8 Cr |
| ICICI Prudential Large & Mid Cap FundICICI Prudential Mutual Fund | 27,38,149 | 1.00% | ₹317.1 Cr |
| Nippon India Growth Mid Cap FundNippon India Mutual Fund | 24,72,000 | 0.57% | ₹286.3 Cr |
| Nippon India Large Cap FundNippon India Mutual Fund | 24,42,516 | 0.55% | ₹282.9 Cr |
 Kotak Flexi Cap FundKotak Mahindra Mutual Fund | 20,75,000 | 0.45% | ₹240.3 Cr |
| SBI ELSS Tax Saver FundSBI Mutual Fund | 12,19,590 | 0.47% | ₹141.2 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Peers and competitors
Breweries & Distilleries, 29 listed companies, priced on 23 Oct 2026. The table lists the 8 companies closest to United Breweries in market cap.
Where the company sits among the companies nearest its size
| Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
 United SpiritsUNITDSPR | 91,064 | 48.3 | 10.2 | 39.1 | +2.9% | +24.4% | 22.1% | 22.2% | 1.36% |
 Radico KhaitanRADICO | 55,703 | 79.2 | 16.8 | 49.2 | +18.6% | +76.4% | 23.2% | 26.9% | 0.22% |
 Allied Blenders and DistillersABDL | 18,815 | 85.1 | 11.3 | 36.3 | −5.9% | −8.0% | 13.8% | 16.2% | 0.80% |
 Tilaknagar IndustriesTI | 12,176 | – | 4.1 | 28.6 | +98.9% | −113.0% | −1.9% | 7.1% | 0.20% |
 Piccadily Agro IndustriesPICCADIL | 5,329 | 37.9 | 5.9 | 23.9 | +29.7% | +30.5% | 17.8% | 14.7% | 0.19% |
 Globus SpiritsGLOBUSSPR | 2,243 | 22.3 | – | – | +6.4% | +298.5% | 9.6% | 11.3% | 0.92% |
 India GlycolsINDIAGLYCO | 1,927 | – | – | – | +11.4% | +29.8% | – | – | 0.53% |
 GM BreweriesGMBREW | 1,807 | 10.4 | 1.6 | 9.0 | +23.3% | +20.9% | 16.3% | 17.2% | 1.14% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.Dividend history and dates
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up.Highest ₹10.50 a share, year to Mar 2022.
| Ex-date | Type | Per share |
|---|---|---|
| 7 Aug 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹10.00 |
| 31 Jul 2025 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹10.00 |
| 25 Jul 2024 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹10.00 |
| 3 Aug 2023 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹7.50 |
| 2 Aug 2022 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹10.50 |
| 1 Jul 2021 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹0.50 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Share news and announcements
Oct 2026
15 Oct · Analysts
14 Oct · Analysts
9 Oct · Business
Sep 2026
United Breweries share price by year
Each calendar year to 2025.United Breweries share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 1,621.70 | −20.4% | 2,238.90 | 1,588.20 |
| 2024 | 2,037.00 | +14.1% | 2,180.90 | 1,661.20 |
| 2023 | 1,785.15 | +5.0% | 1,785.15 | 1,369.55 |
| 2022 | 1,699.80 | +7.2% | 1,783.55 | 1,301.30 |
| 2021 | 1,586.05 | +33.7% | 1,778.60 | 1,084.15 |
| 2020 | 1,186.35 | −6.6% | 1,343.00 | 802.50 |
| 2019 | 1,270.05 | −7.8% | 1,485.75 | 1,201.05 |
| 2018 | 1,377.00 | +27.6% | 1,444.85 | 941.85 |
| 2017 | 1,079.00 | +38.4% | 1,147.85 | 731.75 |
| 2016 | 779.55 | −17.7% | 962.30 | 710.10 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.
Recent sessions
The last 10 trading days to 23 Oct 2026, as traded on NSE.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 23 Oct 2026 | 1,188.00 | 1,188.00 | 1,140.00 | 1,142.60 | 1,148.42 | 1,20,201 | 51.0% |
| 22 Oct 2026 | 1,179.80 | 1,192.30 | 1,166.50 | 1,182.60 | 1,181.71 | 91,512 | 45.3% |
| 21 Oct 2026 | 1,204.80 | 1,205.30 | 1,168.80 | 1,179.80 | 1,179.98 | 2,14,466 | 65.2% |
| 19 Oct 2026 | 1,200.00 | 1,208.90 | 1,191.50 | 1,204.80 | 1,204.42 | 5,57,500 | 89.7% |
| 16 Oct 2026 | 1,203.60 | 1,209.70 | 1,198.60 | 1,201.60 | 1,202.64 | 71,668 | 54.2% |
| 15 Oct 2026 | 1,209.00 | 1,229.00 | 1,192.50 | 1,203.60 | 1,209.16 | 77,772 | 45.6% |
| 14 Oct 2026 | 1,196.40 | 1,228.00 | 1,192.10 | 1,206.80 | 1,211.54 | 2,35,397 | 55.8% |
| 13 Oct 2026 | 1,164.80 | 1,208.70 | 1,159.20 | 1,199.80 | 1,196.68 | 1,87,888 | 53.8% |
| 12 Oct 2026 | 1,172.40 | 1,186.00 | 1,146.50 | 1,164.80 | 1,163.60 | 16,11,295 | 93.9% |
| 9 Oct 2026 | 1,165.50 | 1,194.00 | 1,164.80 | 1,168.20 | 1,175.42 | 1,10,222 | 53.1% |
Prices in ₹ per share as traded, not adjusted.
Company details
- Legal name
- United Breweries Limited
- NSE symbol
- UBL
- BSE code
- 532478
- ISIN
- INE686F01025
- Industry
- Beverages
- Listed
- Oct 2002 on BSE, Jul 2008 on NSE
- Face value
- ₹1
- CIN
- L36999KA1999PLC025195
- Corporate identity number, the registrar of companies' code for it
In BSE 200, Nifty 500, BSE 500, Nifty Midcap 150, BSE 150 MidCap Index, BSE MidCap