United Breweries Limited (UBL) - Net Assets
Based on the latest financial reports, United Breweries Limited (UBL) has net assets worth Rs45.28 Billion INR (≈ $489.67 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs96.93 Billion ≈ $1.05 Billion USD) and total liabilities (Rs51.65 Billion ≈ $558.55 Million USD). 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. Check UBL tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Rs45.28 Billion |
| % of Total Assets | 46.71% |
| Annual Growth Rate | 15.49% |
| 5-Year Change | 14.94% |
| 10-Year Change | 93.75% |
| Growth Volatility | 27.91 |
United Breweries Limited - Net Assets Trend (2005–2026)
This chart illustrates how United Breweries Limited's net assets have evolved over time, based on quarterly financial data. See United Breweries Limited defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for United Breweries Limited (2005–2026)
The table below shows the annual net assets of United Breweries Limited from 2005 to 2026. For live valuation and market cap data, see market value of United Breweries Limited.
| Year | Net Assets | Change |
|---|---|---|
| 2026-03-31 | Rs45.28 Billion ≈ $489.67 Million |
+3.62% |
| 2025-03-31 | Rs43.70 Billion ≈ $472.56 Million |
+4.45% |
| 2024-03-31 | Rs41.84 Billion ≈ $452.44 Million |
+5.39% |
| 2023-03-31 | Rs39.70 Billion ≈ $429.29 Million |
+0.77% |
| 2022-03-31 | Rs39.39 Billion ≈ $426.02 Million |
+9.85% |
| 2021-03-31 | Rs35.86 Billion ≈ $387.82 Million |
+1.77% |
| 2020-03-31 | Rs35.24 Billion ≈ $381.06 Million |
+10.57% |
| 2019-03-31 | Rs31.87 Billion ≈ $344.64 Million |
+18.33% |
| 2018-03-31 | Rs26.93 Billion ≈ $291.26 Million |
+15.24% |
| 2017-03-31 | Rs23.37 Billion ≈ $252.74 Million |
+10.69% |
| 2016-03-31 | Rs21.11 Billion ≈ $228.33 Million |
+13.96% |
| 2015-03-31 | Rs18.53 Billion ≈ $200.37 Million |
+8.44% |
| 2014-03-31 | Rs17.09 Billion ≈ $184.77 Million |
+12.94% |
| 2013-03-31 | Rs15.13 Billion ≈ $163.60 Million |
+10.67% |
| 2012-03-31 | Rs13.67 Billion ≈ $147.83 Million |
+5.52% |
| 2011-03-31 | Rs12.95 Billion ≈ $140.09 Million |
+14.30% |
| 2010-03-31 | Rs11.33 Billion ≈ $122.56 Million |
+6.67% |
| 2009-03-31 | Rs10.62 Billion ≈ $114.89 Million |
+74.26% |
| 2008-03-31 | Rs6.10 Billion ≈ $65.93 Million |
+14.24% |
| 2007-03-31 | Rs5.34 Billion ≈ $57.71 Million |
+8.17% |
| 2006-03-31 | Rs4.93 Billion ≈ $53.36 Million |
+124.35% |
| 2005-03-31 | Rs2.20 Billion ≈ $23.78 Million |
-- |
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 68215800000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2026)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | Rs264.40 Million | 0.58% |
| Other Components | Rs44.96 Billion | 99.42% |
| Total Equity | Rs45.22 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 |
|---|---|
|
KINGDEE INT. UNS.ADR/100
F:KDID
|
$3.84 Billion |
|
Southwest Securities Co Ltd
SHG:600369
|
$3.84 Billion |
|
Feilong Auto Components Co Ltd
SHE:002536
|
$3.84 Billion |
|
IONOS GROUP N
XETRA:IOS
|
$3.85 Billion |
|
FIELMANN AG (ADR/1/5)O.N.
F:FIE1
|
$3.83 Billion |
|
Adaro Minerals Indonesia Tbk PT
JK:ADMR
|
$3.83 Billion |
|
HC Semitek Corp
SHE:300323
|
$3.83 Billion |
|
Poonawalla Fincorp Limited
NSE:POONAWALLA
|
$3.83 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 2025 to 2026, total equity changed from 43,639,200,000 to 45,221,000,000, a change of 1,581,800,000 (3.6%).
- Net income of 4,131,700,000 contributed positively to equity growth.
- Dividend payments of 2,489,400,000 reduced retained earnings.
- Other comprehensive income decreased equity by 6,816,500,000.
- Other factors increased equity by 6,756,000,000.
Equity Change Factors (2025 to 2026)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Rs4.13 Billion | +9.14% |
| Dividends Paid | Rs2.49 Billion | -5.5% |
| Other Comprehensive Income | Rs-6.82 Billion | -15.07% |
| Other Changes | Rs6.76 Billion | +14.94% |
| Total Change | Rs- | 3.62% |
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: 7.84x
- 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 109.39x to 7.84x 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 | Rs12.26 | Rs1341.30 | x |
| 2006-03-31 | Rs22.69 | Rs1341.30 | x |
| 2007-03-31 | Rs24.55 | Rs1341.30 | x |
| 2008-03-31 | Rs27.99 | Rs1341.30 | x |
| 2009-03-31 | Rs45.24 | Rs1341.30 | x |
| 2010-03-31 | Rs47.16 | Rs1341.30 | x |
| 2011-03-31 | Rs50.84 | Rs1341.30 | x |
| 2012-03-31 | Rs51.65 | Rs1341.30 | x |
| 2013-03-31 | Rs57.15 | Rs1341.30 | x |
| 2014-03-31 | Rs64.55 | Rs1341.30 | x |
| 2015-03-31 | Rs69.99 | Rs1341.30 | x |
| 2016-03-31 | Rs79.76 | Rs1341.30 | x |
| 2017-03-31 | Rs88.28 | Rs1341.30 | x |
| 2018-03-31 | Rs101.75 | Rs1341.30 | x |
| 2019-03-31 | Rs120.41 | Rs1341.30 | x |
| 2020-03-31 | Rs133.14 | Rs1341.30 | x |
| 2021-03-31 | Rs135.48 | Rs1341.30 | x |
| 2022-03-31 | Rs148.83 | Rs1341.30 | x |
| 2023-03-31 | Rs149.96 | Rs1341.30 | x |
| 2024-03-31 | Rs158.03 | Rs1341.30 | x |
| 2025-03-31 | Rs165.10 | Rs1341.30 | x |
| 2026-03-31 | Rs171.07 | Rs1341.30 | 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): 9.14%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.47%
- • Asset Turnover: 0.95x
- • Equity Multiplier: 2.14x
- Recent ROE (9.14%) is below the historical average (9.28%), suggesting potential challenges in 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 | Rs-265.25 Million |
| 2006 | -2.18% | -1.35% | 0.72x | 2.25x | Rs-601.18 Million |
| 2007 | 10.31% | 4.56% | 0.84x | 2.68x | Rs16.46 Million |
| 2008 | 8.90% | 3.47% | 0.97x | 2.64x | Rs-66.77 Million |
| 2009 | 4.29% | 2.36% | 0.88x | 2.06x | Rs-605.44 Million |
| 2010 | 7.92% | 3.94% | 0.92x | 2.17x | Rs-235.75 Million |
| 2011 | 11.40% | 4.82% | 1.10x | 2.14x | Rs180.70 Million |
| 2012 | 9.28% | 3.75% | 1.03x | 2.41x | Rs-98.05 Million |
| 2013 | 11.39% | 4.81% | 0.96x | 2.48x | Rs209.95 Million |
| 2014 | 13.24% | 5.97% | 0.97x | 2.28x | Rs553.58 Million |
| 2015 | 14.04% | 6.22% | 1.07x | 2.10x | Rs747.79 Million |
| 2016 | 14.14% | 6.50% | 1.11x | 1.96x | Rs874.08 Million |
| 2017 | 9.84% | 5.09% | 1.01x | 1.92x | Rs-38.51 Million |
| 2018 | 14.65% | 7.35% | 1.14x | 1.76x | Rs1.25 Billion |
| 2019 | 17.68% | 9.06% | 1.15x | 1.69x | Rs2.45 Billion |
| 2020 | 12.15% | 6.83% | 1.13x | 1.58x | Rs757.04 Million |
| 2021 | 3.16% | 2.79% | 0.69x | 1.63x | Rs-2.45 Billion |
| 2022 | 9.29% | 6.52% | 0.94x | 1.51x | Rs-280.52 Million |
| 2023 | 7.67% | 4.15% | 1.17x | 1.58x | Rs-925.09 Million |
| 2024 | 9.81% | 5.21% | 1.12x | 1.69x | Rs-78.04 Million |
| 2025 | 10.12% | 5.14% | 1.05x | 1.88x | Rs52.98 Million |
| 2026 | 9.14% | 4.47% | 0.95x | 2.14x | Rs-390.40 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: $8,194,962,000
- Average return on equity (ROE) among peers: 1.26%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| United Breweries Limited (UBL) | Rs45.28 Billion | -2.06% | 1.14x | $3.84 Billion |
| Som Distilleries & Breweries Limited (SDBL) | $8.19 Billion | 1.26% | 0.79x | $193.14 Million |
About 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