United Breweries Limited (UBL)
Large CapFMCG stocks · Large cap · NSE
United Breweries Limited operates in Alcoholic Beverages, within the FMCG sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Weak fundamentals, management trust is acceptable, price trend argues for patience, and recent execution is mixed.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 1/4 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Bad · 0/100PAT -10% YoY · margin compression · Rev +7% YoY · +36% QoQ
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹3,067 Cr | +7.1% | +36.3% |
| EBITDA | ₹283 Cr | -9.0% | +103.6% |
| Operating margin | 9.0% | -200 bps | +300 bps |
| PAT | ₹166 Cr | -9.8% | +62.8% |
| PAT margin | 5.4% | -101 bps | +88 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Issuer evidence available
United Breweries Limited operates in Alcoholic Beverages, within the FMCG sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Management claims from the latest issuer document are tracked in the accountability section below.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Extracted source claims
We remain optimistic about the long-term growth potential of the beer category, driven by increasing disposable income, favorable demographics & premiumization.
"optimistic about the long-term growth potential of the beer category"
We remain optimistic about the long-term growth potential of the beer category, driven by increasing disposable income, favorable demographics & premiumization.
"optimistic about the long-term growth potential of the beer category"
Volatility in inflationary pressures will remain.
"volatility will remain"
Volatility in inflationary pressures will remain.
"volatility will remain"
We continue to focus on revenue management and cost initiatives to drive margin accretion.
"drive margin accretion"
We continue to focus on revenue management and cost initiatives to drive margin accretion.
"drive margin accretion"
Outcome check: OPM moved from 7.0% to average 11.5% (+4.5 pp).
Building further category growth while driving the share of premium in our portfolio remains a key focus.
"driving the share of premium in our portfolio remains a key focus"
Building further category growth while driving the share of premium in our portfolio remains a key focus.
"driving the share of premium in our portfolio remains a key focus"
Trend score and candlestick chart
29Bearishfull bear SMA stack · SMA20 -3.8% / mo · RSI oversold · MACD − · near 52W low
Technical chart
UBLdaily · 1Y · AUTO-22.5%Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 26.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~4.0% over last month) — short-term momentum negative.
- RSI(14) at 26 — oversold zone; bounce conditions.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Relative Strength & Trend Stage
- Price is 11.2% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.2%.
- Both 3-month and 6-month returns are negative.
Valuation & score drivers
U-Score 31 · OVERVALUED · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 31 · OVERVALUED · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
OVERVALUEDWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Balance sheet contributes 10/15 to the score.
- Growth contributes 11/25 to the score.
Main drags
- Fair-value margin of safety is negative at -90.0%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Management has 100% delivered/partly-delivered outcomes on 1 checked claims. It ranks around the 72nd percentile of the scored universe and 30th percentile within FMCG. Main check: financial discipline is weak at 52/100.
Healthy Trust Lite: Promoter holding is 70.8%. Key concern: ROE is low at 7.7%.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · FMCG: 30th pctile, median 78 · Large: 51st pctile, median 73
76 documents have extracted text, but claim history is not strong enough yet.
1/4 claims checked · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 70.8%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.1%.
- ▸9 years of positive FCF.
Trust risks
- ▸ROE is low at 7.7%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 97.90
- P/B
- 7.48
- EV/EBITDA
- 32.78
- Market Cap
- 33828.00Cr
Profitability
- ROE
- 7.69%
- ROCE
- 10.70%
- ROA
- 4.09%
- Dividend Y
- 0.78%
Growth (CAGR)
- Revenue 5Y
- 17.00%
- EPS 5Y
- 24.00%
- Revenue 3Y
- 7.00%
- EPS 3Y
- 2.00%
Balance Sheet
- Debt/Equity
- 0.29
- Interest Coverage
- 9.25×
- Altman Z
- 5.98
- Book Value
- 171.00
Cash Flow
- FCF Yield
- 0.08%
- FCF Positive Y
- 9/5
- OCF
- 435.00 Cr
- EPS TTM
- 14.96
Shareholding
- Promoter Hold
- 70.84%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 1%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable names in FMCG, ranked by similarity
Peers
Business-comparable names in FMCG, ranked by similarity
Peers
Business-comparable peers in FMCG — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.