United Breweries

Quick check

The five things to look at first. Open one for more.

• DebtHigh safetyRated AA+ by ICRA.
• ResultsMixedIn the Jun 2026 quarter, sales rose 7.1% and profit fell 9.8% from a year earlier.
• DilutionNo new sharesNo new shares issued in the last year, so existing shareholders' slices were not cut.
• PromotersSteadyThe promoters (founders or parent) own 71% of the company, about the same as in Jun 2025.
• ValuationCheap vs its pastThe share trades at 87.5 times its yearly earnings (P/E), cheaper than 87% of the time in the last 5 years. Its usual P/E is about 108.

United Breweries against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

• Valuation (P/E)87.5 against a typical 38: pricier than most peers (1st = cheapest).24th of 27
• Sales growth+7.1% against a typical +11.8% from a year earlier.15th of 25
• Profit growth−9.8% against a typical +10.1% from a year earlier.13th of 20
• Share price, 3 months−21.1% against a typical −7.9%.23rd of 28

Exchange filings and their impact on the company.

• 27 Oct 2026Outcome of Board MeetingLow impactNeutralPrice +4.3% so far today
  UBL board approved Q2 FY27 results, but detailed numbers were not available in the filing text.

  United Breweries' board on October 27, 2026 approved the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. The filing text includes only the board outcome letter and auditor review reference, with no readable profit and loss numbers. With no evidence of a surprise, no incremental impact on revenue or profit over the next 12 months is assumed pending detailed numbers.

  Full analysisFiling
• 9 Oct 2026Product launchLow impactPositivePrice −0.3% on 12 Oct
  UBL launched Heineken Silver in Assam, its 11th market, adding small premium growth.

  United Breweries launched Heineken Silver, a premium mild lager, in Assam effective October 9, 2026, taking the brand to 11 markets in India. It is priced at Rs 120 for a 330ml pint, Rs 160 for a 500ml can and Rs 200 for a 650ml bottle. The move extends UBL's premiumization push after launches in Kerala, Odisha and Madhya Pradesh, but as a single-state rollout of an existing brand its near-term sales contribution is likely to be small.

  Full analysisFiling
• 6 Oct 2026Pendency of Litigation(s)/dispute(s) or the outcome impacting the CompanyLow impactPositivePrice +0.6% on 7 Oct
  UBL got Rs 100.8 cr tax refunds including Rs 30.4 cr interest income, a small one-off profit and cash boost.

  United Breweries received income-tax refunds totalling Rs 100.83 crore for assessment years 2013-14 and 2020-21 on October 3 and 5, 2026. The refunds include interest of Rs 25.65 crore and Rs 4.79 crore respectively, totalling Rs 30.44 crore. The company said this will help working capital and add interest income to profit, though appeals on related tax issues are still pending.

  Full analysisFiling

Results dates and other board meetings. Full calendar

Compounded yearly rates over each period.

Listed companies in the same business.

Vivek Gupta

Chief Executive Officer, Managing Director, Executive Director

Jorn Elimar Kersten

Chief Financial Officer, Executive Director

Nikhil Malpani

Compliance Officer, Company Secretary