About
United Breweries Limited engages in manufacture, purchase, and sale of beer and non-alcoholic beverages in India and internationally. The company offers beer products under the Heineken Original, Heineken Silver, Kingfisher Premium, Kingfisher Strong, Kingfisher Ultra, Kingfisher Ultra Max, Kingfisher Ultra Witbier, Amstel Bier, Amstel Grande, Bullet, Bullet Super Strong, Cannon 10000, Zingaro, Kingfisher Storm, Kingfisher Blue, Kingfisher Flavour Mango and lemon, Kalyani Black Label, UB Export Lager, UB Export Strong, London Pilsner Premium, London Pilsner Premium Strong, and Queenfisher brands; and non-alcoholic products under the Kingfisher Premium Packaged Drinking Water, Kingfisher Strong Power Soda, Kingfisher Ultra-Premium Soda, and Heineken 0.0. It also licenses its brands; and offers contract manufacturing services. In addition, the company is involved in scrap sales. The company was founded in 1915 and is based in Bengaluru, India. United Breweries Limited operates as a subsidiary of Heineken N.V.
Key Metrics
as of Sep 2026Market Cap33,837 Cr
P/E97.90
Div Yield0.78 %
Book Value₹171.00
52w High₹1,850.00
52w Low₹1,275.00
Face Value₹1.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,065.00 | 2,248.00 | 2,071.00 | 2,051.00 | 2,862.00 | 2,321.00 | 1,998.00 | 2,115.00 | 2,473.00 | 2,132.00 | 1,823.00 | 1,888.00 | 2,273.00 |
| Expenses | 2,782.00 | 2,109.00 | 1,846.00 | 1,921.00 | 2,552.00 | 2,135.00 | 1,857.00 | 1,888.00 | 2,188.00 | 1,990.00 | 1,677.00 | 1,703.00 | 2,050.00 |
| Operating Profit | 283.00 | 139.00 | 225.00 | 130.00 | 311.00 | 186.00 | 141.00 | 227.00 | 285.00 | 142.00 | 146.00 | 185.00 | 223.00 |
| OPM % | 9.00 | 6.00 | 11.00 | 6.00 | 11.00 | 8.00 | 7.00 | 11.00 | 12.00 | 7.00 | 8.00 | 10.00 | 10.00 |
| Other Income | 51.00 | 82.00 | -8.00 | 15.00 | 11.00 | 8.00 | -16.00 | 11.00 | 7.00 | 26.00 | 24.00 | 12.00 | 10.00 |
| Depreciation | 86.00 | 76.00 | 69.00 | 64.00 | 63.00 | 57.00 | 61.00 | 57.00 | 58.00 | 58.00 | 52.00 | 51.00 | 51.00 |
| Interest | 23.00 | 29.00 | 17.00 | 15.00 | 11.00 | 6.00 | 3.00 | 2.00 | 2.00 | 2.00 | 2.00 | 1.00 | 2.00 |
| Profit before tax | 225.00 | 116.00 | 132.00 | 67.00 | 247.00 | 132.00 | 61.00 | 178.00 | 233.00 | 109.00 | 116.00 | 145.00 | 180.00 |
| Tax % | 26.00 | 12.00 | 39.00 | 29.00 | 26.00 | 26.00 | 37.00 | 26.00 | 26.00 | 26.00 | 27.00 | 26.00 | 24.00 |
| Net Profit | 166.00 | 102.00 | 81.00 | 47.00 | 184.00 | 97.00 | 38.00 | 132.00 | 173.00 | 81.00 | 85.00 | 108.00 | 136.00 |
| EPS in Rs | 6.29 | 3.85 | 3.06 | 1.78 | 6.95 | 3.68 | 1.45 | 5.00 | 6.55 | 3.06 | 3.21 | 4.07 | 5.15 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 9,233.00 | 8,907.00 | 8,115.00 | 7,492.00 | 5,832.00 | 4,241.00 | 6,505.00 | 6,472.00 | 5,629.00 | 4,734.00 | 4,839.00 | 4,692.00 |
| Expenses | 8,427.00 | 8,068.00 | 7,420.00 | 6,877.00 | 5,137.00 | 3,861.00 | 5,630.00 | 5,335.00 | 4,727.00 | 4,093.00 | 4,109.00 | 4,071.00 |
| Operating Profit | 805.00 | 839.00 | 695.00 | 614.00 | 695.00 | 380.00 | 874.00 | 1,138.00 | 902.00 | 641.00 | 730.00 | 621.00 |
| OPM % | 9.00 | 9.00 | 9.00 | 8.00 | 12.00 | 9.00 | 13.00 | 18.00 | 16.00 | 14.00 | 15.00 | 13.00 |
| Other Income | 100.00 | 10.00 | 73.00 | 16.00 | 30.00 | 43.00 | 9.00 | 32.00 | 12.00 | 52.00 | 48.00 | 37.00 |
| Interest | 72.00 | 13.00 | 7.00 | 5.00 | 15.00 | 23.00 | 31.00 | 31.00 | 48.00 | 59.00 | 81.00 | 73.00 |
| Depreciation | 272.00 | 233.00 | 212.00 | 210.00 | 217.00 | 232.00 | 285.00 | 260.00 | 260.00 | 287.00 | 244.00 | 207.00 |
| Profit before tax | 562.00 | 603.00 | 549.00 | 415.00 | 493.00 | 168.00 | 567.00 | 878.00 | 607.00 | 347.00 | 453.00 | 378.00 |
| Tax % | 26.00 | 27.00 | 25.00 | 27.00 | 26.00 | 33.00 | 25.00 | 36.00 | 35.00 | 34.00 | 34.00 | 31.00 |
| Net Profit | 413.00 | 441.00 | 409.00 | 303.00 | 365.00 | 113.00 | 427.00 | 563.00 | 394.00 | 229.00 | 298.00 | 260.00 |
| EPS in Rs | 15.63 | 16.69 | 15.48 | 11.48 | 13.80 | 4.27 | 16.16 | 21.28 | 14.90 | 8.67 | 11.27 | 9.82 |
| Dividend Payout % | 64.00 | 60.00 | 65.00 | 65.00 | 76.00 | 12.00 | 15.00 | 12.00 | 13.00 | 13.00 | 10.00 | 10.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 26.00 | 26.00 | 26.00 | 26.00 | 26.00 | 26.00 | 26.00 | 26.00 | 26.00 | 26.00 | 26.00 | 26.00 |
| Reserves | 4,491.00 | 4,333.00 | 4,148.00 | 3,935.00 | 3,906.00 | 3,553.00 | 3,492.00 | 3,155.00 | 2,662.00 | 2,306.00 | 2,119.00 | 1,823.00 |
| Borrowings | 1,317.00 | 620.00 | 102.00 | 16.00 | 10.00 | 262.00 | 252.00 | 211.00 | 312.00 | 594.00 | 806.00 | 836.00 |
| Other Liabilities | 3,847.00 | 3,232.00 | 2,767.00 | 2,294.00 | 1,999.00 | 2,003.00 | 1,774.00 | 1,985.00 | 1,719.00 | 1,547.00 | 1,410.00 | 1,195.00 |
| Total Liabilities | 9,681.00 | 8,212.00 | 7,043.00 | 6,271.00 | 5,941.00 | 5,845.00 | 5,544.00 | 5,379.00 | 4,719.00 | 4,474.00 | 4,362.00 | 3,881.00 |
| Fixed Assets | 2,041.00 | 1,740.00 | 1,768.00 | 1,843.00 | 1,905.00 | 1,942.00 | 1,901.00 | 1,752.00 | 1,705.00 | 1,726.00 | 1,797.00 | 1,811.00 |
| CWIP | 509.00 | 251.00 | 173.00 | 77.00 | 110.00 | 128.00 | 199.00 | 190.00 | 72.00 | 137.00 | 61.00 | 90.00 |
| Investments | 15.00 | 16.00 | 16.00 | 16.00 | 16.00 | 14.00 | 26.00 | 26.00 | 26.00 | 26.00 | 25.00 | 25.00 |
| Other Assets | 7,115.00 | 6,205.00 | 5,087.00 | 4,335.00 | 3,910.00 | 3,761.00 | 3,418.00 | 3,411.00 | 2,916.00 | 2,586.00 | 2,478.00 | 1,954.00 |
| Total Assets | 9,681.00 | 8,212.00 | 7,043.00 | 6,271.00 | 5,941.00 | 5,845.00 | 5,544.00 | 5,379.00 | 4,719.00 | 4,474.00 | 4,362.00 | 3,881.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 436.00 | 212.00 | 77.00 | -121.00 | 899.00 | 619.00 | 507.00 | 644.00 | 562.00 | 544.00 | 539.00 | 839.00 |
| Cash from Investing Activity | -409.00 | -237.00 | -148.00 | -120.00 | -160.00 | -151.00 | -402.00 | -430.00 | -196.00 | -234.00 | -245.00 | -327.00 |
| Cash from Financing Activity | 92.00 | 237.00 | -130.00 | -292.00 | -286.00 | -88.00 | -95.00 | -198.00 | -363.00 | -301.00 | -297.00 | -572.00 |
| Net Cash Flow | 119.00 | 212.00 | -201.00 | -533.00 | 453.00 | 380.00 | 10.00 | 17.00 | 3.00 | 9.00 | -3.00 | -60.00 |
| Free Cash Flow | 4.00 | -43.00 | -113.00 | -275.00 | 727.00 | 470.00 | 104.00 | 208.00 | 361.00 | 308.00 | 296.00 | 432.00 |
| CFO/OP % | 81.00 | 48.00 | 31.00 | 3.00 | 148.00 | 185.00 | 80.00 | 91.00 | 90.00 | 107.00 | 96.00 | 158.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 116.00 | 117.00 | 104.00 | 69.00 | 79.00 | 120.00 | 76.00 | 85.00 | 97.00 | 100.00 | 84.00 | 75.00 |
| Inventory Days | 430.00 | 325.00 | 296.00 | 318.00 | 300.00 | 555.00 | 310.00 | 323.00 | 265.00 | 326.00 | 322.00 | 276.00 |
| Days Payable | 360.00 | 294.00 | 206.00 | 160.00 | 204.00 | 308.00 | 154.00 | 185.00 | 172.00 | 200.00 | 196.00 | 170.00 |
| Cash Conversion Cycle | 186.00 | 148.00 | 195.00 | 227.00 | 174.00 | 368.00 | 231.00 | 223.00 | 190.00 | 226.00 | 211.00 | 182.00 |
| Working Capital Days | 24.00 | 50.00 | 62.00 | 49.00 | 31.00 | 62.00 | 50.00 | 48.00 | 53.00 | 34.00 | 21.00 | 23.00 |
| ROCE % | 11.00 | 14.00 | 13.00 | 11.00 | 13.00 | 5.00 | 17.00 | 28.00 | 22.00 | 14.00 | 19.00 | 16.00 |
Corporate Actions
23 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 07 Aug 2026 | 07 Aug 2026 | — | 10.00 | |
| Dividend | 31 Jul 2025 | 31 Jul 2025 | — | 10.00 | |
| Dividend | 25 Jul 2024 | — | — | 10.00 | |
| Dividend | 03 Aug 2023 | — | — | 7.50 | |
| Dividend | 02 Aug 2022 | — | — | 10.50 | |
| Dividend | 01 Jul 2021 | — | — | 0.50 | |
| Dividend | 18 Aug 2020 | — | — | 2.50 | |
| Dividend | 13 Aug 2019 | — | — | 2.50 | |
| Dividend | 07 Sep 2018 | — | — | 2.00 | |
| Dividend | 14 Sep 2017 | — | — | 1.15 | |
| Dividend | 30 Aug 2016 | — | — | 1.15 | |
| Dividend | 14 Sep 2015 | — | — | 1.00 | |
| Dividend | 01 Sep 2014 | — | — | 0.90 | |
| Dividend | 06 Sep 2013 | — | — | 0.70 | |
| Dividend | 21 Sep 2012 | — | — | 0.70 | |
| Dividend | 16 Dec 2011 | — | — | 0.60 | |
| Dividend | 17 Aug 2010 | — | — | 0.36 | |
| Dividend | 07 Sep 2009 | — | — | 0.15 | |
| Dividend | 01 Oct 2008 | 03 Oct 2008 | — | 0.15 | |
| Other | 05 Sep 2008 | — | — | — | Annual General Meeting |
| Other | 10 Apr 2008 | 21 Apr 2008 | — | — | Right Issue of Equity Shares |
| Dividend | 25 Sep 2007 | — | — | 0.10 | |
| Other | 18 Aug 2004 | 27 Aug 2004 | — | — | Right Issue of Preference Shares |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
-
Rating update3 Dec 2025 from icra
-
Rating update31 Oct 2025 from icra
-
Rating update17 Jan 2025 from icra
-
Rating update31 Oct 2023 from icra
-
Rating update31 Oct 2022 from icra
-
Rating update29 Oct 2021 from icra