United Breweries Limited

NSEI:UBL Stock Report

Market Cap: ₹533.7b

United Breweries Valuation

Is UBL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of UBL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: UBL (₹2020.1) is trading above our estimate of fair value (₹303.88)

Significantly Below Fair Value: UBL is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for UBL?

Key metric: As UBL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for UBL. This is calculated by dividing UBL's market cap by their current earnings.
What is UBL's PE Ratio?
PE Ratio113x
Earnings₹4.72b
Market Cap₹533.72b

Price to Earnings Ratio vs Peers

How does UBL's PE Ratio compare to its peers?

The above table shows the PE ratio for UBL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average71.4x
SDBL Som Distilleries & Breweries
24xn/a₹22.1b
RADICO Radico Khaitan
117.4x31.7%₹337.2b
UNITDSPR United Spirits
78.7x15.8%₹1.1t
PATANJALI Patanjali Foods
65.3x33.3%₹648.8b
UBL United Breweries
113x27.2%₹533.7b

Price-To-Earnings vs Peers: UBL is expensive based on its Price-To-Earnings Ratio (113x) compared to the peer average (71.4x).

Price to Earnings Ratio vs Industry

How does UBL's PE Ratio compare vs other companies in the IN Beverage Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
UBL 113.0xIndustry Avg. 19.0xNo. of Companies5PE020406080100+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: UBL is expensive based on its Price-To-Earnings Ratio (113x) compared to the Asian Beverage industry average (19.3x).

Price to Earnings Ratio vs Fair Ratio

What is UBL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

UBL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio113x
Fair PE Ratio49.9x

Price-To-Earnings vs Fair Ratio: UBL is expensive based on its Price-To-Earnings Ratio (113x) compared to the estimated Fair Price-To-Earnings Ratio (49.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst UBL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹2,020.10
₹2,000.64
-1.0%
15.5%₹2,365.00₹1,289.00n/a14
Dec ’25₹1,950.50
₹2,000.64
+2.6%
15.5%₹2,365.00₹1,289.00n/a14
Nov ’25₹1,936.30
₹2,000.64
+3.3%
15.5%₹2,365.00₹1,289.00n/a14
Oct ’25₹2,163.35
₹1,971.69
-8.9%
16.1%₹2,485.00₹1,289.00n/a13
Sep ’25₹2,050.45
₹1,938.31
-5.5%
16.8%₹2,485.00₹1,253.00n/a13
Aug ’25₹2,001.40
₹1,938.31
-3.2%
16.8%₹2,485.00₹1,253.00n/a13
Jul ’25₹2,009.60
₹1,909.50
-5.0%
16.1%₹2,425.00₹1,217.00n/a14
Jun ’25₹1,860.40
₹1,909.50
+2.6%
16.1%₹2,425.00₹1,217.00n/a14
May ’25₹2,037.90
₹1,805.21
-11.4%
12.8%₹2,155.00₹1,291.00n/a14
Apr ’25₹1,779.55
₹1,791.79
+0.7%
13.8%₹2,155.00₹1,253.00n/a14
Mar ’25₹1,698.90
₹1,775.77
+4.5%
14.0%₹2,155.00₹1,253.00n/a13
Feb ’25₹1,803.15
₹1,717.00
-4.8%
16.5%₹2,320.00₹1,289.00n/a13
Jan ’25₹1,792.70
₹1,657.00
-7.6%
13.3%₹2,125.00₹1,289.00n/a13
Dec ’24₹1,672.00
₹1,632.21
-2.4%
11.6%₹1,935.00₹1,289.00₹1,950.5014
Nov ’24₹1,606.50
₹1,632.21
+1.6%
11.6%₹1,935.00₹1,289.00₹1,936.3014
Oct ’24₹1,557.00
₹1,480.33
-4.9%
11.9%₹1,770.00₹1,200.00₹2,163.3512
Sep ’24₹1,546.45
₹1,512.62
-2.2%
13.4%₹1,900.00₹1,200.00₹2,050.4513
Aug ’24₹1,591.35
₹1,512.62
-4.9%
13.4%₹1,900.00₹1,200.00₹2,001.4013
Jul ’24₹1,511.95
₹1,503.08
-0.6%
12.0%₹1,900.00₹1,190.00₹2,009.6012
Jun ’24₹1,463.10
₹1,504.33
+2.8%
12.1%₹1,900.00₹1,190.00₹1,860.4012
May ’24₹1,479.50
₹1,655.92
+11.9%
9.7%₹1,900.00₹1,210.00₹2,037.9012
Apr ’24₹1,424.45
₹1,659.25
+16.5%
9.1%₹1,900.00₹1,250.00₹1,779.5512
Mar ’24₹1,464.20
₹1,670.85
+14.1%
9.0%₹1,900.00₹1,250.00₹1,698.9013
Feb ’24₹1,575.80
₹1,818.79
+15.4%
7.5%₹2,000.00₹1,450.00₹1,803.1514
Jan ’24₹1,699.80
₹1,816.29
+6.9%
8.0%₹2,000.00₹1,400.00₹1,792.7014
Dec ’23₹1,698.85
₹1,808.53
+6.5%
7.9%₹2,000.00₹1,400.00₹1,672.0015

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/19 07:01
End of Day Share Price 2024/12/19 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

United Breweries Limited is covered by 34 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nihal JhamAmbit Capital
null nullAnand Rathi Shares and Stock Brokers Limited
Tejash ShahAvendus Spark