United Breweries Limited
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, K… Read more
United Breweries Limited (UBL) - Net Assets
Latest net assets as of September 2025: ₹43.49 Billion INR
Based on the latest financial reports, United Breweries Limited (UBL) has net assets worth ₹43.49 Billion INR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₹81.68 Billion) and total liabilities (₹38.19 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₹43.49 Billion |
| % of Total Assets | 53.24% |
| Annual Growth Rate | 16.12% |
| 5-Year Change | 21.85% |
| 10-Year Change | 106.96% |
| Growth Volatility | 28.42 |
United Breweries Limited - Net Assets Trend (2005–2025)
This chart illustrates how United Breweries Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for United Breweries Limited (2005–2025)
The table below shows the annual net assets of United Breweries Limited from 2005 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | ₹43.70 Billion | +4.45% |
| 2024-03-31 | ₹41.84 Billion | +5.39% |
| 2023-03-31 | ₹39.70 Billion | +0.77% |
| 2022-03-31 | ₹39.39 Billion | +9.85% |
| 2021-03-31 | ₹35.86 Billion | +1.77% |
| 2020-03-31 | ₹35.24 Billion | +10.57% |
| 2019-03-31 | ₹31.87 Billion | +18.33% |
| 2018-03-31 | ₹26.93 Billion | +15.24% |
| 2017-03-31 | ₹23.37 Billion | +10.69% |
| 2016-03-31 | ₹21.11 Billion | +13.96% |
| 2015-03-31 | ₹18.53 Billion | +8.44% |
| 2014-03-31 | ₹17.09 Billion | +12.94% |
| 2013-03-31 | ₹15.13 Billion | +10.67% |
| 2012-03-31 | ₹13.67 Billion | +5.52% |
| 2011-03-31 | ₹12.95 Billion | +14.30% |
| 2010-03-31 | ₹11.33 Billion | +6.67% |
| 2009-03-31 | ₹10.62 Billion | +74.26% |
| 2008-03-31 | ₹6.10 Billion | +14.24% |
| 2007-03-31 | ₹5.34 Billion | +8.17% |
| 2006-03-31 | ₹4.93 Billion | +124.35% |
| 2005-03-31 | ₹2.20 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to United Breweries Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 3094665800000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₹30.26 Billion | 69.35% |
| Common Stock | ₹264.40 Million | 0.61% |
| Other Comprehensive Income | ₹6.82 Billion | 15.62% |
| Other Components | ₹6.29 Billion | 14.42% |
| Total Equity | ₹43.64 Billion | 100.00% |
United Breweries Limited Competitors by Market Cap
The table below lists competitors of United Breweries Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Merchants Bancorp
NASDAQ:MBIN
|
$1.23 Billion |
|
Bumi Resources Minerals Tbk
JK:BRMS
|
$1.23 Billion |
|
BADGER INFRA.SOLU. LTD
F:6BD0
|
$1.23 Billion |
|
Supermarket Income REIT plc
PINK:SUPIF
|
$1.23 Billion |
|
VIVENDI UNSPON.ARD EO 55
F:VVUD
|
$1.23 Billion |
|
CNOOC Energy Technology & Services Ltd
SHG:600968
|
$1.23 Billion |
|
ICF International Inc
NASDAQ:ICFI
|
$1.23 Billion |
|
Quinenco
SN:QUINENCO
|
$1.23 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in United Breweries Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 41,783,400,000 to 43,639,200,000, a change of 1,855,800,000 (4.4%).
- Net income of 4,416,900,000 contributed positively to equity growth.
- Dividend payments of 2,646,300,000 reduced retained earnings.
- Other comprehensive income increased equity by 64,300,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₹4.42 Billion | +10.12% |
| Dividends Paid | ₹2.65 Billion | -6.06% |
| Other Comprehensive Income | ₹64.30 Million | +0.15% |
| Other Changes | ₹20.90 Million | +0.05% |
| Total Change | ₹- | 4.44% |
Book Value vs Market Value Analysis
This analysis compares United Breweries Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 9.80x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 131.90x to 9.80x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-03-31 | ₹12.26 | ₹1617.40 | x |
| 2006-03-31 | ₹22.69 | ₹1617.40 | x |
| 2007-03-31 | ₹24.55 | ₹1617.40 | x |
| 2008-03-31 | ₹27.99 | ₹1617.40 | x |
| 2009-03-31 | ₹45.24 | ₹1617.40 | x |
| 2010-03-31 | ₹47.16 | ₹1617.40 | x |
| 2011-03-31 | ₹50.84 | ₹1617.40 | x |
| 2012-03-31 | ₹51.65 | ₹1617.40 | x |
| 2013-03-31 | ₹57.15 | ₹1617.40 | x |
| 2014-03-31 | ₹64.55 | ₹1617.40 | x |
| 2015-03-31 | ₹69.99 | ₹1617.40 | x |
| 2016-03-31 | ₹79.76 | ₹1617.40 | x |
| 2017-03-31 | ₹88.28 | ₹1617.40 | x |
| 2018-03-31 | ₹101.75 | ₹1617.40 | x |
| 2019-03-31 | ₹120.41 | ₹1617.40 | x |
| 2020-03-31 | ₹133.14 | ₹1617.40 | x |
| 2021-03-31 | ₹135.48 | ₹1617.40 | x |
| 2022-03-31 | ₹148.83 | ₹1617.40 | x |
| 2023-03-31 | ₹149.96 | ₹1617.40 | x |
| 2024-03-31 | ₹158.03 | ₹1617.40 | x |
| 2025-03-31 | ₹165.10 | ₹1617.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently United Breweries Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 10.12%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.95%
- • Asset Turnover: 1.08x
- • Equity Multiplier: 1.88x
- Recent ROE (10.12%) is above the historical average (9.28%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | -2.06% | -0.78% | 0.74x | 3.56x | ₹-265.25 Million |
| 2006 | -2.18% | -1.35% | 0.72x | 2.25x | ₹-601.18 Million |
| 2007 | 10.31% | 4.56% | 0.84x | 2.68x | ₹16.46 Million |
| 2008 | 8.90% | 3.47% | 0.97x | 2.64x | ₹-66.77 Million |
| 2009 | 4.29% | 2.36% | 0.88x | 2.06x | ₹-605.44 Million |
| 2010 | 7.92% | 3.94% | 0.92x | 2.17x | ₹-235.75 Million |
| 2011 | 11.40% | 4.89% | 1.09x | 2.14x | ₹180.67 Million |
| 2012 | 9.28% | 3.50% | 1.10x | 2.41x | ₹-98.05 Million |
| 2013 | 11.39% | 4.81% | 0.96x | 2.48x | ₹209.95 Million |
| 2014 | 13.24% | 5.97% | 0.97x | 2.28x | ₹553.58 Million |
| 2015 | 14.04% | 6.22% | 1.07x | 2.10x | ₹747.79 Million |
| 2016 | 13.99% | 6.47% | 1.10x | 1.96x | ₹841.88 Million |
| 2017 | 9.84% | 5.09% | 1.01x | 1.92x | ₹-38.51 Million |
| 2018 | 14.65% | 7.35% | 1.14x | 1.76x | ₹1.25 Billion |
| 2019 | 17.68% | 9.06% | 1.15x | 1.69x | ₹2.45 Billion |
| 2020 | 12.15% | 6.83% | 1.13x | 1.58x | ₹757.04 Million |
| 2021 | 3.16% | 2.67% | 0.73x | 1.63x | ₹-2.45 Billion |
| 2022 | 9.29% | 6.26% | 0.98x | 1.51x | ₹-280.52 Million |
| 2023 | 7.67% | 4.05% | 1.19x | 1.58x | ₹-925.09 Million |
| 2024 | 9.81% | 5.05% | 1.15x | 1.69x | ₹-78.04 Million |
| 2025 | 10.12% | 4.95% | 1.08x | 1.88x | ₹52.98 Million |
Industry Comparison
This section compares United Breweries Limited's net assets metrics with peer companies in the Beverages - Brewers industry.
Industry Context
- Industry: Beverages - Brewers
- Average net assets among peers: $7,872,412,000
- Average return on equity (ROE) among peers: 13.27%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| United Breweries Limited (UBL) | ₹43.49 Billion | -2.06% | 0.88x | $1.23 Billion |
| Som Distilleries & Breweries Limited (SDBL) | $7.87 Billion | 13.27% | 0.71x | $63.03 Million |